Asianet Newsable

Indian banks in best shape in a decade with historic low NPAs: Report

Asianet News Central — Mon, 24 Aug 2026 11:31:17 +0530

Indian banks are in their best shape in a decade, with non-performing assets (NPAs) near historic lows and balance sheets strengthened by robust capital buffers, Motilal Oswal Financial Services Ltd said in a post on social media platform X.

Historic Lows in NPAs and Strong Fundamentals

The financial services firm highlighted the significant improvement in the health of the banking sector, pointing to cleaner balance sheets and stronger fundamentals as key factors supporting the outlook for Indian banks. "Indian banks are in their best shape in a decade. NPAs are near historic lows," Motilal Oswal said in its post on X. The assessment comes against the backdrop of a sustained improvement in asset quality across the banking system. According to recent banking-sector data, gross non-performing assets of scheduled commercial banks fell to a multi-decadal low of around 1.8 per cent in March 2026, while net NPAs stood at about 0.4 per cent. Capital adequacy also remained comfortable.

Broader Implications for Credit Cycle

Motilal Oswal's assessment underlines how the banking sector has emerged stronger after a prolonged clean-up of stressed assets and balance-sheet repair. The improvement in asset quality has also been accompanied by stronger profitability and adequate capital, providing banks with greater capacity to support credit growth. The firm's observations are broadly in line with the Reserve Bank of India's assessment of the banking system. The central bank's latest Financial Stability Report showed that banks remained resilient, with strong capital buffers and the ability to withstand severe stress scenarios. Motilal Oswal has also pointed to the implications of stronger bank balance sheets for the broader credit cycle. With NPAs at historically low levels and capital positions remaining healthy, banks are better placed to expand lending while maintaining prudent underwriting standards. The improvement in asset quality marks a sharp turnaround from the stress witnessed during the previous decade, when elevated corporate leverage and mounting bad loans weighed on bank profitability and constrained credit growth.

Credit Growth Gains Momentum

The firm's bullish assessment also comes as credit growth has regained momentum. System-wide bank credit growth accelerated to 14.5 per cent year-on-year during 2025-26, while deposit growth stood at 11.5 per cent, according to data cited in recent assessments of India's financial system. Motilal Oswal's view suggests that the banking sector could remain an important beneficiary of the improving credit cycle, particularly as healthier corporate balance sheets and sustained economic activity support demand for loans. (ANI) (Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

Piyush Goyal woos Japan's Sumitomo, Meiji Seika for India investment

Asianet News Central — Mon, 24 Aug 2026 11:30:58 +0530

Commerce and Industry Minister Piyush Goyal on Monday held talks with senior executives of leading Japanese companies, including Sumitomo Corporation, Meiji Seika Pharma and Mitsubishi Corporation, to expand investment and manufacturing partnerships in India across energy, mobility, pharmaceuticals and infrastructure.

Goyal began his four-day visit to Japan on Monday, leading a nearly 200-member business delegation aimed at strengthening economic ties between the two countries.

Engagements with Corporate Leaders

Sumitomo Corporation

Taking to his official X account, Goyal said he began his Tokyo engagements with a meeting with Shingo Ueno, President and CEO of Sumitomo Corporation, where they discussed opportunities to expand the company's engagement with India in energy transformation, mobility and industrial infrastructure.

"We discussed opportunities to deepen the company's engagement with India across energy transformation, mobility and industrial infrastructure. India's investment-led growth and expanding manufacturing ecosystem offer immense opportunities for greater collaboration, further strengthening the India-Japan economic partnership," the post reads.

Meiji Seika Pharma Co. Ltd.

Goyal also met Toshiaki Nagasato, President and Representative Director of Meiji Seika Pharma Co. Ltd., to discuss strengthening cooperation in pharmaceuticals industry.

"Met with Mr. Toshiaki Nagasato, President & Representative Director of Meiji Seika Pharma Co., Ltd. Discussed opportunities to strengthen India-Japan cooperation in the pharmaceutical sector and avenues to expand the company's manufacturing & R&D footprint in India. India's pharmaceutical ecosystem offers significant opportunities for our Japanese partners to scale & achieve long-term growth," he said.

Mitsubishi Corporation

He also held talks with Juro Baba, Representative Director of Mitsubishi Corporation, on expanding the company's presence in India across mobility, energy and infrastructure.

"Met Mr. Juro Baba, Representative Director, Mitsubishi Corporation. We discussed opportunities to build on Mitsubishi Corporation's long-standing presence in India, spanning over nine decades, and to expand collaboration across mobility, energy, and infrastructure. India remains committed to enabling partnerships that support industrial growth and resilient supply chains," the post said.

Four-Day Visit to Boost Ties

As per Ministry of Commerce, Goyal's four-day visit will cover Tokyo, Nagoya and Osaka, with representatives from multiple sectors including manufacturing, semiconductors, clean energy, steel, automobiles, financial services, healthcare and start-ups.

The visit will conclude in Osaka with an Investors and Business Roadshow, along with meetings with leading Japanese companies across the electronics, industrial and consumer sectors.

As per government data, Japan's bilateral trade with India stood at USD 27.47 billion during FY 2025-26. During this period, exports from Japan to India stood at USD 21.43 billion, and imports came at USD 6.04 billion. (ANI)

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

Piyush Goyal aims to double Japanese firms in India this decade

Asianet News Central — Mon, 24 Aug 2026 11:01:04 +0530

The number of Japanese companies operating in India should double this decade from current levels, said Union Commerce and Industry Minister Piyush Goyal, as he called for a deeper business-to-business cooperation between the two countries.

Addressing a roundtable meeting with the Japan-India Business Consultative Committee (JIBCC) of the Japan Chamber of Commerce and Industry (JCCI) and the Embassy of India on Monday, Goyal said India and Japan have significant scope to expand their economic partnership.

Noting that India already hosts a large number of Japanese companies, Goyal said, "I believe that this decade should see that number double from the current levels."

A Vision for Future Growth

Goyal, who arrived in Japan for a four-day visit to strengthen bilateral economic ties, also highlighted that the two countries' leaders have designated 2026 as the "India-Japan Year of Shared Horizons" to mark 75 years of diplomatic relations.

Stressing India believes in the principle of continuous improvement, Goyal said, "We are looking at Japan being our partner in this journey as we progress from a USD 4 trillion economy today to a USD 30 trillion economy by 2047, when we celebrate 100 years of independence. It's an ambitious target, but 1.4 billion Indians are committed to making this happen."

Bolstering Economic Ties

He added that there was "no better moment" to discuss the future of the India-Japan partnership and explore ways to deepen collaboration between businesses over the next decade.

The minister is leading a nearly 200-business delegation to bolster economic ties between the two nations.

The visit will cover Tokyo, Nagoya and Osaka, with representatives from key sectors including manufacturing, semiconductors, clean energy, steel, automobiles, financial services, healthcare and start-ups, as per Ministry of Commerce.

The visit will conclude in Osaka with an Investors and Business Roadshow, along with meetings with leading Japanese companies across the electronics, industrial and consumer sectors.

Bilateral Trade Figures

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

SBI Research notes hawkish MPC minutes, raising RBI rate hike risk

Asianet News Central — Mon, 24 Aug 2026 11:00:45 +0530

MPC's Hawkish Stance Creates Uncertainty

SBI Research has flagged the possibility of a rate hike by the Reserve Bank of India (RBI), saying the latest Monetary Policy Committee (MPC) minutes have turned more hawkish, even as Governor Sanjay Malhotra has maintained a cautious and data-dependent approach. In its latest Ecowrap report, SBI Research said the difference between the MPC minutes, the monetary policy statement and the Governor's comments has created uncertainty for markets over the future path of interest rates.

"The latest MPC minutes appear more hawkish, keeping inflation risks and the possibility of further tightening in focus while the Governor's statement sounds considerably more patient and data-dependent," the report said. SBI Research said the hawkish tone of the MPC minutes has strengthened in recent months. In terms of macro tones, the report said that when the Governor's statement is taken as 1, the MPC minutes increased from 1.76 in June 2026 to 1.82 in August 2026, showing a rise in hawkishness. The divergence was more visible on issues related to policy, interest rates, inflation and prices. The MPC minutes gave greater importance to risks that could influence future rate decisions, while the Governor focused more on growth and financial conditions.

'Chalk or Cheese' Problem for Markets

"The policy dilemma for markets is therefore increasingly a 'chalk or cheese' problem," SBI Research said, adding that markets will have to assess whether the hawkish tone of the minutes means an October rate hike remains possible or whether the Governor's cautious approach will continue.

The report said "the window of a rate hike(s) has now opened up", although the decision remains finely balanced due to both global and domestic factors.

Global Economic Factors

On the global front, SBI Research said the US economy remains resilient, supported by consumer spending and investment in artificial intelligence. However, weaker employment and high borrowing costs linked to debt could pose risks. The report said the US Treasury's decision to double buyback operations for longer-dated securities to USD 4 billion per operation from September 9 could help ease pressure on long-term yields.

A US Federal Reserve rate cut in September appears unlikely, noting that a bond buyback programme and a rate hike would be difficult to pursue together. It added that higher crude oil prices and geopolitical tensions could keep inflation risks elevated.

Domestic Concerns Over Monsoon and Inflation

Domestically, uneven monsoon conditions remain a concern. The nationwide rainfall deficit was around 13 per cent, while several major foodgrain-producing states, including Bihar, Andhra Pradesh, Punjab and Karnataka, continued to face significant deficits. Of 741 districts, 351 had received deficit or large-deficit rainfall.

The report said Skymet had lowered its 2026 monsoon forecast to 85 per cent of the Long Period Average, with a 70 per cent probability of drought, while El Nino conditions had become firmly established.

SBI Research projected August CPI inflation at 4.7 per cent and said inflation could rise above 6 per cent in October and November before easing to around 5 per cent in the fourth quarter of FY27. Against this backdrop, the research house said fiscal and rural-economy measures could be a better way to address monsoon-related risks than monetary tightening.

It also pointed to an around 60 per cent fall in person-days generated under the newly launched VB-G RAM G programme in July-August 2026. "An expansionary fiscal policy through higher allocation through VB-G RAM G but possibly a tighter monetary policy (through rate hikes) may be difficult to comprehend together," SBI Research said.

The report concluded that the monetary policy outlook remains finely balanced, with the hawkish MPC minutes keeping the possibility of an RBI rate hike alive, while weak monsoon conditions and the need to support rural demand argue for caution. (ANI)

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

Sensex, Nifty start week on positive note amid easing oil prices

Asianet News Central — Mon, 24 Aug 2026 10:00:29 +0530

The Indian equity markets started the week on a positive note, tracking positive global cues. Both the benchmark indices opened with a gap-up; Sensex up over 200 points while Nifty was hovering around 24,300 level amid easing oil prices. Sensex opened at 77,629.56 against previous close of 77,540.83 and was trading at around 77,774.29, up 233.46 points or 0.30 per cent, at the time of reporting. Nifty opened at 24,285.05 against the previous close of 24,252 and was trading at around 24,300 at the time of reporting.

Sectoral Performance and Oil Prices

All broad market indices traded in the green; sectorally, most indices traded in the green while auto, pharma, FMCG, PSU Bank, healthcare, consumer durables, and cement were under pressure. Oil prices corrected on Monday amid profit booking ahead of an expected US announcement on additional sanctions against Iran. At the time of reporting, Brent crude was trading at around USD 93.07 per barrel while crude oil was trading at around USD 85.69 per barrel. On BSE, Infosys, HCL Tech, Tata Steel, HDFC Bank, Tech Mahindra, Indi Go, TCS, Kotak Bank, ICICI Bank, Hindustan Unilever, NTPC among others were the top gainers. Asian Paint, Titan, Bharti Airtel, Trent, Power Grid among others were the major losers. Likewise, on NSE, Infosys, Hindalco, HCL Tech, Wipro, SBI Life, Indi Go, ONGC, M&M among others were the top gainers while Cipla, Trent, Titan, BEL, Bajaj Finance among others were the top losers during the early morning trade.

Market Analysis and Expert Commentary

Market and banking expert Ajay Bagga noted, "Global markets enter the week of August 24 under heavy macro and geopolitical crosscurrents, marked by sharp friction between escalating Middle Eastern conflict and high-stakes tech earnings. The economic backdrop is dominated by Washington's declaration of an "economic D-Day" against Iran--a blitz of secondary sanctions and naval enforcement designed to isolate Tehran and reopen the blocked Strait of Hormuz."

According to Bagga, the monthly expiry of Indian index futures and options on Tuesday will see close scrutiny of the recently introduced CAS framework , which saw two firms being sanctioned by SEBI for manipulation of Sensex expiries already.

Commodity and Currency Outlook

Anindya Banerjee, Head of Commodity and Currency Research, Kotak Securities noted, Brent is trading just below USD 94 after a second consecutive weekly gain of around 6%, and the market's entire focus today is on Washington, which is due to announce the details of what Trump has called an 'economic D-Day' -- a fresh package of measures to isolate Iran's economy that could also affect countries that continue to trade with Tehran, including China, the largest buyer of Iranian crude. On rupee, Banerjee noted, the currency remains on a weakening path as long as oil holds above USD 90 and the dollar demand from importers stays elevated. "We expect it to move into a 96.20 to 97.00 range in the near term, though the substantial reserves the RBI has built through the special deposit schemes give it every means to keep the currency's adjustment orderly," he said.

Technical Levels and Market Caution

According to market analyst Vipin Dixena, while the market has opened on a positive note, the early price action suggests that buyers are yet to establish strong control. this is a cautious recovery rather than a confirmed reversal. The market has already seen two consecutive weeks of losses, while elevated crude prices and geopolitical uncertainty continue to remain overhangs. At the same time, the recent improvement in domestic buying provides some cushion to the downside, as per Dixena. "Technically, 24,300 is the immediate level I am watching on Nifty. If the index sustains above this level, the recovery can extend towards 24,400-24,500. On the downside, 24,200 remains the immediate support, and a break below this level could bring selling pressure back," he said. (ANI)

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

Indian banks' asset quality to stay benign despite Mideast crisis: GS

Asianet News Central — Mon, 24 Aug 2026 09:30:29 +0530

Indian banks will likely maintain benign asset quality trends, with deleveraging in unsecured lending limiting incremental stress and the West Asia crisis having minimal impact on asset quality, according to a report by Goldman Sachs.

Improved Outlook and Contained Stress

According to the report, the outlook for asset quality of Indian banks has improved significantly over the past five years, with overall stress remaining contained. Moreover, the concerns have largely been limited to granular unsecured loans -- particularly in the consumer unsecured and microfinance (MFI) segments.

"In our view, aggressive lending in these segments drove over-leveraging and triggered the non-performing loan (NPL) cycle; however, this impact was largely restricted to mid-sized private banks," GS noted, adding "State-Owned Enterprise (SoE) banks had no exposure to this segment, while large private banks experienced negligible to manageable impacts."

Deleveraging Mitigates Risk

Further, the risk of fresh bad loans in these segments remains low, supported by significant deleveraging over the past 12-18 months. The MFI loan book has contracted 25 per cent from its peak of Rs 4.4 trillion in QE-Mar-24, while consumer unsecured loan growth slowed to 10-12 per cent in FY25/FY26 from 25-30 per cent in FY23/FY24.

Despite this moderation, consumer credit remains structurally underpenetrated in India, with unsecured loans accounting for only 18 per cent of the overall retail loan book, GS noted. In MFI, around 80-90 per cent of the loan book at several banks is now covered by the government-backed Credit Guarantee Fund for Micro Units (CGFMU), providing a cushion against any sharp increase in NPL formation.

Focus on MSME Loan Quality

"The primary incremental debate regarding asset quality centers on MSME loans," as per GS. It noted that the segment has grown at a CAGR of around 20-25 per cent over the past three to five years, raising concerns over potential asset quality stress.

However, GS remains relatively less concerned, noting that banks have not moved down the risk curve and a significant portion of MSME lending is backed by adequate collateral. Meanwhile, it flagged that while "MSME loans have grown at a faster pace," the sector can witness pressure "if the impact of the West Asia crisis or El Nino proves more severe than expected." (ANI)

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

Piyush Goyal leads 200-member business delegation to boost Japan ties

Asianet News Central — Mon, 24 Aug 2026 09:01:03 +0530

Commerce Minister Piyush Goyal has landed in Japan to lead a nearly 200-member business delegation to strengthen India-Japan trade and investment ties, according to a statement from the Embassy of India in Japan.

In a social media post, the embassy said the Minister arrived in Japan at Haneda Airport for his four-day visit. "The Commerce Minister is visiting Japan from August 24 to 27, leading a business delegation of approximately 200 members," the post reads.

High-Profile Visit to Deepen Ties

As per the Embassy, the visit underscores the strong ambition underpinning the India-Japan Special Strategic and Global Partnership and comes at a time when both countries are seeking to significantly deepen trade and investment ties. As per the Ministry of Commerce, this will be India's largest-ever business delegation to the country.

The four-day visit will cover Tokyo, Nagoya and Osaka, with representatives from key sectors including manufacturing, semiconductors, clean energy, steel, automobiles, financial services, healthcare and start-ups.

Goyal's Four-Day Itinerary

Meetings in Tokyo

In Tokyo, Goyal will hold a series of meetings with senior executives of leading Japanese industrial conglomerates, including a round-table with Keidanren, Japan's apex business federation representing more than 1,500 companies. The Tokyo leg will also feature focused sessions on emerging sectors such as semiconductors, artificial intelligence and start-ups, along with discussions with foreign institutional investors.

Goyal is also scheduled to hold bilateral talks with Japan's Minister of Economy, Trade and Industry, Akazawa Ryosei, besides meeting senior government and parliamentary leaders and engaging with the Indian diaspora.

Nagoya Industrial Roadshow

The delegation will then travel to Nagoya, a key industrial hub in central Japan, where Goyal will lead a business roadshow in partnership with the Central Japan Economic Federation (Chukeiren) and the Nagoya Chamber of Commerce and Industry. He will also meet Aichi Prefecture leaders and major investors in the automotive and steel sectors.

Osaka Investors and Business Roadshow

The visit will conclude in Osaka with an Investors and Business Roadshow, along with meetings with leading Japanese companies across the electronics, industrial and consumer sectors.

India-Japan Bilateral Trade

As per government data, Japan's bilateral trade with India totalled USD 27.47 billion during FY 2025-26. During this period, exports from Japan to India stood at USD 21.43 billion, and imports came at USD 6.04 billion. (ANI)

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

Gold and Silver Rates Today, August 24: Gold Near Rs 1.63 Lakh, Silver at Rs 2.47 Lakh; Check City-Wise Prices

Deevika NM — Mon, 24 Aug 2026 08:32:18 +0530

Precious metal prices remained firmly elevated in India on Monday, with both gold and silver trading at high levels. According to data from Bullion.co.in, 24K gold stood at Rs 1,62,810 per 10 grams, while 22K gold was priced at Rs 1,49,243 per 10 grams around 6:20 am. At the same time, 999-fine silver was quoted at Rs 2,47,540 per kg, while 925 sterling silver stood at Rs 2,28,975 per kg.

Gold has continued its strong performance in recent months. The price of 24K gold has gained more than 4% over the past week and has risen by nearly 62% over the past year, according to the report. Silver has also delivered a powerful rally, with 999-fine silver gaining 3.53% in a week and nearly 112% over the past year.

Gold and silver rates today: City-wise table

City	24K Gold (Rs /10 gm)	22K Gold (Rs /10 gm)	Silver 999 Fine (Rs /kg)
Delhi	Rs 1,62,240	Rs 1,48,720	Rs 2,46,670
Mumbai	Rs 1,62,520	Rs 1,48,977	Rs 2,47,090
Kolkata	Rs 1,62,300	Rs 1,48,775	Rs 2,46,770
Chennai	Rs 1,62,990	Rs 1,49,408	Rs 2,47,810
Bengaluru	Rs 1,62,650	Rs 1,49,096	Rs 2,47,290
Hyderabad	Rs 1,62,350	Rs 1,49,215	Rs 2,47,480

Among the major cities, Chennai recorded the highest gold and silver prices, while Delhi reported the lowest rates, according to the data. Chennai's 24K gold rate was Rs 1,62,990 per 10 grams, compared with Rs 1,62,240 in Delhi. For 22K gold, Chennai stood at Rs 1,49,408, while Delhi was at Rs 1,48,720 per 10 grams.

The same trend was visible in silver prices. Chennai's 999-fine silver rate was Rs 2,47,810 per kg, the highest among the cities listed. Delhi had the lowest rate at Rs 2,46,670 per kg. Mumbai's silver rate was Rs 2,47,090, while Bengaluru and Hyderabad recorded Rs 2,47,290 and Rs 2,47,480 per kg, respectively.

At the national level, silver's latest rally has been particularly notable. Silver 999 fine was Rs 2,47,540 per kg, while 925 sterling silver was Rs 2,28,975 per kg. Its nearly 112% year-on-year rise highlights the strong momentum in the white metal market.

For gold buyers, the difference between 24K and 22K prices reflects the purity of the metal. However, the final jewellery purchase price can be higher than the quoted market rate because of making charges, GST and other applicable costs.

With both precious metals trading at elevated levels, investors and jewellery buyers will continue to track domestic prices as well as international market movements for further direction.

Deendayal Port Authority Kandla sets new record, handles 70 MMT cargo

Asianet News Central — Mon, 24 Aug 2026 06:30:23 +0530

Historic Cargo Handling Milestone

The Deendayal Port Authority (DPA), Kandla, has created a historic milestone by crossing the 70 MMT (Million Metric Tonnes) cargo-handling mark for the financial year 2026-27. The port reached a total of 70.03 MMT on August 22, 2026, making it the fastest among all Major Ports in India to achieve this significant milestone.

According to official data, the DPA achieved this target 32 days ahead of the timeline recorded in the previous financial year. This feat highlights the port's increasing efficiency and its pivotal role in India's maritime trade. The port authority also registered a massive year-on-year (YoY) growth of 23.02% compared to the same period last year.

New National and Terminal Records Set

Earlier, on July 27, Deendayal Port Authority Kandla broke its own National Record of the highest-ever single-day cargo handling, an official release said. DPA achieved an unprecedented 7,83,816 MTs of cargo handling in a single day, surpassing its own National Record of 7,78,570 MTs achieved on June 17.

Adding to this remarkable achievement, Offshore Oil Terminal, Vadinar also established a new 24-hour benchmark by handling 5,09,101 MTs of liquid cargo, exceeding its previous record of 5,07,397 MTs.

On June 17, the record handling included 2,55,557 MTs of Crude Oil, 40,534 MTs of POL, and 2,13,010 MTs of LPO. This historic achievement reflects the unwavering dedication, teamwork, and operational excellence of Team DPA and all our stakeholders.

Chairman Applauds Team Effort

On this occasion, Sushil Kumar Singh, IRSME, Chairman, DPA, congratulated all stakeholders, port users, exporters, importers, shipping lines, vessel agents, stevedores, Customs House Agents, terminal operators, trade associations, truck drivers, DPA officials, employees, Shramiks and every member of the Port fraternity whose dedicated efforts and unwavering support have made this landmark achievement possible.

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

Himachal CM Sukhu invites investors, says tourism is a top priority

Asianet News Central — Sun, 23 Aug 2026 20:30:49 +0530

Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu on Sunday invited investors to invest in the state's hotel and hospitality sector, saying tourism remained a priority for the state government. Speaking to ANI on the sidelines of the 56th FHRAI Annual Convention 2026, the Chief Minister stated that the state administration placed no restrictions on hospitality investments and actively encouraged broader participation from industry leaders. "See, we participated in this meeting to promote tourism in Himachal Pradesh and to promote tourism industries and restaurants. We want investors to come to Himachal and invest in hotel industries. There is no restriction. Tourism is our priority in Himachal," Sukhu said.

The Chief Minister noted that the state government worked rapidly on expanding regional air and heliport connectivity to facilitate seamless travel for incoming visitors. "We are moving fast in airport connectivity and heliport connectivity. And in the coming time, tourists who come to Himachal, will take advantage of clean air in quiet valleys and will go back taking care of their health," Sukhu said.

Himachal's Diverse Tourism Potential

Highlighting the state's tourism potential, Sukhu said Himachal Pradesh offered opportunities across a range of segments, including adventure, wildlife, religious and nature tourism. "By taking part in this [convention], listening to people's thoughts, I have given information about the possibilities in Himachal Pradesh. Himachal is such a state where you will get adventure tourism, wildlife tourism, religion tourism, natural tourism. What kind of tourism do you want? You will get all kinds of tourism," he said.

Sukhu also highlighted the state's natural resources and geographical features as key advantages for tourism. "We are the lungs of Northern India. We are the water wall of Northern India. There are dense forests. There are moderate forests. There are 40-40 km of water bodies. Every aspect from a tourism point of view, you will find in Himachal. Snow-bound area is more than Switzerland in Himachal. You will get 24x7 snow," the Chief Minister added.

National Perspective on Hospitality Growth

Union Minister for Tourism and Culture Gajendra Singh Shekhawat also addressed the gathering, stating that the Federation of Hotel and Restaurant Associations of India worked for the development of the hotel industry, tourism growth, and related challenges over the past six years.

Shekhawat noted that under Prime Minister Narendra Modi's leadership, the progress of the Indian economy altered global perceptions of India, unlocking significant potential for the hospitality sector. He added that the hospitality sector stood positioned to make a substantial contribution to the national economy, with industry conventions in Kashi providing critical platforms to evaluate sector challenges, operational conditions, and technological shifts across the country. (ANI)

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

NSDC, AWS to skill 1.5 lakh in AI, cloud; focus on Tier-II cities

Asianet News Central — Sun, 23 Aug 2026 19:00:30 +0530

The National Skill Development Corporation (NSDC) and Cultus Education have launched a nationwide cloud and artificial intelligence skilling initiative with support from Amazon Web Services (AWS). According to the Ministry of Skill Development and Entrepreneurship (MSDE), the program targets learners across all states and union territories, with a focus on youth in Tier-II and Tier-III cities as well as underserved communities.

Under the initiative, 1,50,000 learners will receive foundational AI and cloud literacy through AWS digital training modules. Additionally, 10,000 candidates will undergo intensive workforce training through the AWS re/Start program, an entry-level cohort model that connects learners with employment opportunities at local organisations.

A Step Towards 'Viksit Bharat'

Speaking at the launch, Jayant Chaudhary, Minister of State (Independent Charge) for Skill Development and Entrepreneurship and Minister of State for Education, highlighted the demographic focus of the initiative. "This initiative reflects the vision of Viksit Bharat, where access to opportunity is not determined by geography or background," Chaudhary said.

"As India moves towards becoming a global hub for innovation, technology and talent, it is essential that our youth in Tier 2 and Tier 3 towns also get the opportunity to equipped themselves with the skills needed for the jobs of the future. Such initiatives will play an important role in building an inclusive, skilled and future-ready workforce, which is central to our journey towards Viksit Bharat 2047," he added.

Building a Future-Ready Workforce

Delivered entirely online through Cultus, the initiative seeks to overcome barriers faced by non-metro talent, including limited local infrastructure, absence of industry credentials, and lack of direct employer networks.

Rani Burchmore, APJC Lead for AWS Skilling & Social Impact, noted that the collaboration focuses on talent pipeline creation. "AWS re/Start brings 'net-new' talent into the workforce, establishing a win-win-win scenario for individuals to launch successful careers in cloud, organisations to increase their competitive edge with in-demand talent, and communities to thrive and grow," Burchmore said.

"We are proud to work with NSDC and Cultus Education to build the diverse, robust cloud workforce of the future, enabling organisations to accelerate their innovation with the AWS Cloud," she stated.

Program Structure and Certification

The training framework allows registered participants to complete self-paced foundational courses before qualifying for instructor-led cohorts covering programming, networking, security, and databases. Participants will complete coursework, hands-on labs, and certification exams to validate their skill sets.

From Skilling to Employment

Nalin Singh, Group Managing Director of Cultus Education, emphasised the focus on career outcomes. "The true measure of skilling is whether learning translates into confidence, credentials and meaningful career opportunities," Singh said. "Our focus is to make globally relevant cloud and AI skills accessible beyond major metros, creating an outcome-led journey from learning and training to certification and employer connections," he added.

The program will conclude with a National Hackathon where participants present project solutions to prospective employers and industry executives.

NSDC Chief Operating Officer Prashant Sinha attended the official launch event. (ANI)

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

Made-in-India chips power key space missions, says Ashwini Vaishnaw

Asianet News Central — Sun, 23 Aug 2026 19:00:26 +0530

Made-in-India semiconductor chips are powering key Indian space missions, supporting everything from lunar and solar exploration to satellites and launch vehicles, Union Minister for Electronics and Information Technology Ashwini Vaishnaw said on National Space Day. "Made in India chips are powering Indian Space Missions," Vaishnaw said in a post on social media platform X.

According to the Ministry of Electronics and Information Technology (MeitY), domestically designed and manufactured semiconductor components are being used across India's growing space programme, strengthening the country's efforts towards technological self-reliance.

The Role of SCL Mohali

A key contributor to this capability is the Semiconductor Laboratory (SCL) in Mohali, which develops and manufactures flight-grade semiconductor components designed to withstand the extreme conditions encountered in space. SCL manufactures specialised components, including radiation-hardened chips, electro-optical CCD and CMOS imagers, Application-Specific Integrated Circuits (ASICs), and sensors used to measure parameters such as pressure, acceleration, temperature and acoustics.

Indigenous Chips in Major Missions

These indigenous components have already been deployed in major Indian space missions. The Chandrayaan-3 lunar lander carried an Indian-made camera chip developed by SCL Mohali for its imaging systems during the mission to the lunar surface. Similarly, India's solar mission, Aditya-L1, uses radiation-hardened Analogue-to-Digital Converter (ADC) chips manufactured by SCL for its scientific observations of the Sun.

Indigenous semiconductor technology is also being used beyond scientific payloads. SCL's Vikram processor is deployed in satellite launch vehicles and rockets, providing onboard computing capabilities required during missions.

Strengthening India's Space Ecosystem

The Ministry added that the growing ability to design and manufacture critical space-grade semiconductor components domestically is strengthening technological independence across India's space ecosystem. As India plans further missions to explore space, locally manufactured chips are expected to play an expanded operational role in supporting the nation's scientific and launch infrastructure. (ANI)

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

India's Private Space Sector Enters New Growth Phase, Focus on Scale

Asianet News Central — Sun, 23 Aug 2026 18:30:56 +0530

India's private space sector is entering a new phase of growth, with the focus shifting from capability building to scaling businesses and expanding the adoption of space-based technologies across the economy, industry leaders said on the sidelines of National Space Day 2026. The theme of this year's National Space Day, "Towards Viksit Bharat - Innovating, Collaborating and Aspiring to Global Space Leadership," comes as India's space ecosystem continues to expand, with more than 440 registered space startups and cumulative investment in Indian space startups reaching USD 618.5 million.

ISpA on India's Evolving Space Ecosystem

Lt Gen AK Bhatt, Director General, Indian Space Association (ISpA), said India's private space ecosystem has "come a remarkable distance in a relatively short time" and is now moving beyond capability creation towards market opportunities. "India is emerging as a full-stack space economy, with growing strengths across launch, satellite infrastructure and a range of downstream space applications," Bhatt said, adding that recent successes by private space companies have demonstrated India's ability to build capabilities at a globally competitive level, sending an important signal to investors and international partners.

Focus on Downstream Adoption

He said the next phase of growth would be shaped equally by downstream adoption, particularly in Earth observation, satellite communications and geospatial intelligence. These applications are enabling solutions across sectors such as agriculture, climate monitoring, urban planning, disaster management, connectivity and national security.

Industry Leaders Stress Downstream Growth

Krishanu Acharya, CEO and Co-Founder, Suhora Technologies, said the focus of India's private space story needs to increasingly move towards downstream applications. "India's private space story has largely been told through rockets and launch vehicles, but the more sustainable growth engine is downstream," Acharya said, while pointing to the role of satellite data in surveillance, disaster response and other real-world applications.

Satellite Communications as Critical Infrastructure

Viasat India Managing Director Gautam Sharma said satellite communications has become an important part of the country's infrastructure. "Satellite communications is no longer a niche capability; it is critical national infrastructure," Sharma said, highlighting its role in defence, disaster response, maritime operations and remote regions that terrestrial networks cannot reach.

Sharma also highlighted the growing collaboration between global companies and India's emerging space ecosystem. "We are also equally invested in the wider ecosystem taking shape especially with the opening of the space sector. We are working closely with Indian startups, researchers and academic institutions like IIT Hyderabad and IIT Chennai, and combining our global satellite expertise with the country's rapidly maturing talent, helping them build the next generation of technologies from within India," he said.

Path to a USD 44 Billion Space Economy

As India targets an increase in the size of its space economy from about USD 8.4 billion to approximately USD 44 billion by 2033, industry leaders said sustained growth would depend on manufacturing capabilities, robust supply chains, long-term capital, specialised talent and the ability to convert space capabilities into globally competitive businesses. (ANI)

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

SEBI stresses governance as MFs tap smaller towns, new investors

Asianet News Central — Sun, 23 Aug 2026 18:30:52 +0530

SEBI Calls for Stronger Governance and Adaptation

As mutual fund participation expands beyond traditional investor segments, SEBI Chairman Tuhin Kanta Pandey has stressed the need for stronger governance and oversight, while calling for products, distribution and communication to adapt to the growing participation of first-time investors and people from smaller towns. Speaking at the 31st foundation day of the Association of Mutual Funds in India (AMFI) in Mumbai, Pandey underlined the growing role of mutual funds in channelising household savings into the productive economy.

"Mutual funds perform a dual role - helping households participate in India's growth and channelling their savings into the productive economy," said Tuhin Kanta Pandey, Chairman, SEBI. He also cautioned that the expanding scale and complexity of the industry places a greater responsibility on fund managers and other stakeholders.

"The mutual fund industry manages public money, which brings with it a special fiduciary responsibility. As the industry grows in scale and complexity, governance and oversight must keep pace," the SEBI Chairman said. Pandey said the next phase of growth in the mutual fund sector would increasingly involve investors who have traditionally had lower participation in capital markets. "The next generation of investors will increasingly come from smaller towns, first-time investors and under-represented segments. Products, distribution and communication must adapt accordingly," he said.

AMFI Echoes Need for Wider Reach and Trust

AMFI Chairman Sundeep Sikka said the industry now faces the challenge of taking the culture of disciplined and long-term investing to a wider section of the country while building confidence among new and underserved investors. "The opportunity now is to take this progress to a wider section of the country by strengthening investor awareness, expanding access and building greater confidence among first-time and underserved investors," said Sundeep Sikka, Chairman, AMFI.

AMFI Chief Executive Venkat N. Chalasani said simplicity, accessibility and trust would be critical if mutual funds were to become relevant to a broader section of households. "For mutual funds to become truly relevant to every household, investing must be simple, accessible, trustworthy and aligned with everyday financial needs," said Venkat N. Chalasani, Chief Executive, AMFI.

Chalasani also highlighted the role of distributors in expanding the industry's reach, while stressing that growth should not come at the expense of responsible conduct.

New Initiatives to Boost Investor Awareness

The comments come as the mutual fund industry seeks to broaden investor awareness across smaller cities, women, first-time investors and members of Self-Help Groups and microfinance communities.

As part of the initiatives announced at the event, AMFI said it would work with the National Institute of Securities Markets (NISM) on workshops for mutual fund distributors covering fiduciary responsibility, ethics, compliance, mis-selling, churning and data privacy. The programme is expected to cover around 10,000 distributors over the next 12 months.

Another initiative with Sa-Dhan, an RBI-recognised self-regulatory organisation for the microfinance sector, will focus on investor awareness among Self-Help Group members and microfinance borrowers.

The association also announced the Bharat Nivesh Mela, which is to be piloted in five cities during World Investor Week and will seek to simplify investment concepts such as systematic investment plans, compounding, asset allocation, market volatility and fraud prevention.

A women-focused financial awareness initiative with Pinkathon is also planned across multiple cities, while the latest AMFI-Crisil Fact Book 2025-26 was launched with data on the changing profile of mutual fund investors, women's participation, SIP growth and the geographical expansion of mutual funds. (ANI)

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

Rajnath Singh launches Rs 2,670 cr GRSE, YIL expansion in West Bengal

Asianet News Central — Sun, 23 Aug 2026 18:30:37 +0530

Speaking to ANI on the sidelines of the Bhoomi Pujan for the five brownfield expansion projects, CMde PR Hari, Indian Navy (Retd.), Chairman and Managing Director of GRSE, termed the initiative a landmark development for the defence public sector undertaking. "It's a historic day for GRSE with five new facilities, three for GRSE and three shipbuilding facilities that too in West Bengal with an investment of nearly Rs 2,670 crore, a very big investment," Hari said. "So, there are two things in this, one is our capability and capacity will definitely increase, second is there is a lot of employment generation in this, direct or indirect."

GRSE's Strategic Infrastructure Development

The public sector warship builder entered into lease agreements with Syama Prasad Mookerjee Port, Kolkata (SMPK), to establish riverside infrastructure across three strategic locations along the Hooghly River. The flagship component involves a 32-acre hub at Raichak with an outlay exceeding Rs 2,500 crore, featuring a 200-metre dry dock and block fabrication units designed to manufacture warships measuring up to 200 metres and commercial vessels up to 60,000 DWT.

Highlighting the shipyard's track record and the intent to diversify operations under national manufacturing programmes, Hari pointed out the scope for broader production. "We are primarily warship builders; we have delivered 118 warships, a century of warships so far," he said. "So, in warship building, our capability is already proven, but now there are opportunities in both warship building and commercial shipbuilding. In that, our PM's motto can be implemented as 'Make in India, Make for the world.'"

Rejuvenation and Repair Hubs

GRSE allocated roughly Rs 100 crore toward rejuvenating the four-acre Timber Pond facility at Shalimar for medium-sized vessels, alongside approximately Rs 70 crore for the Damodar site at Kidderpore Docks to execute vessel repairs and build electric ferries.

Yantra India's Modernisation Drive

In tandem, YIL undertook two upgrade projects worth over Rs 750 crore at the Metal and Steel Factory in Ishapore to manufacture critical forgings, gun barrels, and nuclear components.

Enhancing Capacity and Skill

"And today, what the Defence Minister has promised is that now capability is existing, capacity is limited," Hari said. "So, with these initiatives, we are enhancing the capacity, and capacity will increase, new technology will come, skill resources will come, definitely GRSE, 'Great GRSE' as what Defence Minister has suggested, that will happen."

The foundation ceremony saw the participation of senior defence and state administrative leadership, marking coordinated institutional support for industrial growth in the region. "And this is a very motivating factor for us and the CM has also promised that any initiative that GRSE as the biggest manufacturing company in West Bengal....will get the full support of the CM and the West Bengal government," Hari said. (ANI)

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

PM Modi: India should be a global hub for space startups, attract talent

Asianet News Central — Sun, 23 Aug 2026 17:30:29 +0530

India Aims for Global Leadership in Space Startups

India should emerge was as a global hub for space startups and attract talent from international markets, Prime Minister Narendra Modi has said. During an interaction with space startup CEOs, the Prime Minister emphasised that consistent government policies and trust would help encourage entrepreneurs to take risks and invest in emerging space technologies. He said the government's effort had been to create confidence that entrepreneurs would not be abandoned if their ventures faced setbacks.

Private Sector Sees Rapid Expansion

The interaction highlighted the rapid expansion of India's private space ecosystem. One startup said it had successfully conducted the country's first private rocket launch on July 18 and plans to scale up to one launch every month by the middle of next year. The company said it has already built three factories with capacity for one rocket a month, with a longer-term ambition of reaching one launch a week and eventually several launches a day.

Moving Beyond Launch to Advanced Tech

Indian startups are also moving beyond launch vehicles into advanced propulsion, satellite mobility, orbital servicing and space infrastructure. Companies are working towards developing satellite engines, robotic spacecraft capable of capturing and removing defunct satellites, and docking and in-space refuelling technologies aimed at eventually creating fuel stations in orbit.

Attracting Global Talent and Opportunities

The sector is also attracting global interest and Indian talent based overseas. Startup founders said professionals in the US and Europe are increasingly looking to return to India, while companies are gaining international traction and export opportunities. PM Modi said India should create an ecosystem that attracts global talent to the country's space sector. "I believe we should create such an aura that people around the world feel that if they want to make a living in this field, they should go to India," he said.

New Frontiers in Space Applications

Startups are also targeting new applications of space technology, including global ground-station networks, satellite-based agricultural solutions and space-based pharmaceutical manufacturing. One space-pharma startup is developing satellites capable of manufacturing pharmaceuticals in orbit before bringing them back to Earth. The developments point to a broader shift in India's space sector, with private companies increasingly moving from launch services into higher-value technologies and global markets. The Prime Minister said the opening of the sector to private participation could help India build a stronger and more globally competitive space ecosystem in the coming years.

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

SEBI, NSE promote financial literacy at Nehru Trophy Boat Race 2026

Asianet News Central — Sun, 23 Aug 2026 17:30:27 +0530

Financial Literacy Drive at Nehru Trophy Boat Race

The Securities and Exchange Board of India (SEBI) and the National Stock Exchange of India (NSE), along with other securities market participants, have stepped up efforts to promote financial literacy, investor education, and investor protection across the country. As part of this initiative, an Investor Awareness Pavilion was established and organized at the Nehru Trophy Boat Race 2026, held on August 22 at Punnamada Lake in Alappuzha, Keralam.

The boat race was inaugurated by Keralam Chief Minister V D Satheesan and Karnataka Chief Minister DK Shivakumar. The joint SEBI-NSE pavilion, set up in collaboration with other market entities, was inaugurated by Alappuzha District Collector Shaji V Nair, Ernakulam Range DIG Yathish Chandra GH, and Alappuzha District Police Chief SP Vishnu Pratheep TK. The ceremony took place in the presence of SEBI General Manager MK Srikanth, NSE Senior Vice President Avishkar Naik, and representatives from various market infrastructure institutions.

Drawing Parallels: Boating and Investing

According to NSE, the initiative aimed to draw a parallel between the sport and financial discipline. "The traditional boat race represents team synergy, rhythm, discipline, direction, endurance, and balance--qualities that also resonate strongly with the principles of informed investing," the NSE said in a release. "Just as rowing a snake boat (Vallam Kali) requires synchronised effort, focus, steady pacing, and navigating changing water currents, successful investing requires similar traits including market awareness, continuous discipline, patience, and well-informed decision-making."

Engaging Investors at the Pavilion

The campaign highlighted critical areas including investor rights and responsibilities, informed decision-making, financial planning basics, awareness regarding SEBI-verified applications, grievance redressal mechanisms, and methods to identify and avoid investment frauds and scams.

Visitors at the pavilion received simplified investor education materials and engaged in interactive learning tools such as Spin the Wheel, the "Scam No" game, Awareness Darts, Protection Baskets, and Invest Safe Ludo. The outreach brought all Market Infrastructure Institutions and associations together under one roof to handle query resolution and complaint facilitation.

A Unique Outreach Strategy

Designed to cater to first-time investors, young adults, and families, the program leveraged the presence of tourists, spectators, and boating enthusiasts at the venue.

According to the NSE, organizing awareness programs at major cultural and sporting events allows market regulators and institutions to move beyond conventional platforms and engage directly with the public in an accessible and culturally relevant environment. (ANI)

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

India, Japan to boost semiconductor cooperation, MoUs expected soon

Asianet News Central — Sun, 23 Aug 2026 16:30:57 +0530

India and Japan are set to step up cooperation in semiconductors and electronics, with MoU signings expected during the ongoing business mission, as the two countries seek to deepen bilateral business ties, FICCI Director General Jyoti Vij said on Sunday.

MoUs and High-Tech Collaboration on the Agenda

"High-technology areas such as semiconductors and electronics are key domains where both nations can build greater strength and expand mutual cooperation," Vij told ANI, adding that collaboration would also extend to traditional sectors.

Vij said the 200-plus member delegation has been specifically assembled to strengthen bilateral business relations and will hold at least as many B2B meetings, alongside extensive networking sessions and around 15 site visits.

"Yes, absolutely. By the time this mission concludes, you will definitely see MoU signings. Some MoUs have already been finalized, and more may emerge during and after the visit," she said.

India's Largest-Ever Business Delegation to Japan

The delegation, led by Union Commerce and Industry Minister Piyush Goyal, is visiting Japan from August 24 to 27 as part of India's largest-ever business delegation to the country. The four-day mission covers Tokyo, Nagoya and Osaka and includes companies and industry representatives from manufacturing, semiconductors, clean energy, steel, automotive, financial services, healthcare and start-ups.

Unlocking Opportunities Through Site Visits

Vij said the planned site visits to manufacturing plants, innovation centres and other facilities would provide businesses with direct exposure to Japanese technologies and innovations. "These 15 visits will also unlock significant opportunities by providing direct insights into current innovations and technological advancements," she said.

Several Indian startups are also part of the delegation and are expected to use the visit to understand Japan's innovation ecosystem and identify potential areas for future partnerships. "A wide range of opportunities will definitely emerge from this," Vij said.

Deepening Strategic and Global Partnership

On the minister's engagements, Vij said Goyal would meet several prominent CEOs and industry leaders over the next two days, with discussions focused on deepening engagement and understanding the priorities of Japanese businesses. "The objective is to understand how engagement can be deepened further and to address their specific priorities and perspectives," she said.

The Ministry of Commerce and Industry has said the visit reflects the scale of ambition both nations bring to their Special Strategic and Global Partnership, coming at a time when India and Japan are looking to significantly deepen trade and investment ties. (ANI)

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

Piyush Goyal to lead India's largest business delegation to Japan

Asianet News Central — Sun, 23 Aug 2026 14:30:21 +0530

Union Minister for Commerce and Industry Piyush Goyal will lead a 200-member business delegation to Japan from August 24 to 27, which will be India's largest-ever business delegation to the country.

According to the Ministry of Commerce & Industry the four-day visit covers Tokyo, Nagoya, and Osaka, and the delegation includes representatives across key sectors such as manufacturing, semiconductors, clean energy, steel, automotive, financial services, healthcare, and start-ups. The release stated that the visit reflects the scale of ambition the two countries bring to their bilateral relationship. "The visit reflects the scale of ambition both nations bring to their Special Strategic and Global Partnership, and comes at a time when India and Japan are looking to significantly deepen trade and investment ties," it said.

High-Level Meetings in Tokyo

In Tokyo, Goyal will hold a series of meetings with top executives of major Japanese industrial conglomerates. His itinerary includes a round-table with Keidanren (Japan Business Federation), an apex body representing more than 1,500 Japanese enterprises. Dedicated sessions in the capital will focus on key emerging areas, including semiconductors, artificial intelligence, start-ups, and discussions with foreign institutional investors. During the Tokyo leg, Goyal will also hold bilateral discussions with Japan's Minister of Economy, Trade and Industry (METI), Akazawa Ryosei. He will call on senior members of the Japanese Government and Parliament, alongside interacting with the Indian diaspora.

Engagements in Industrial Hub Nagoya

The delegation will then travel to Nagoya, the industrial hub of Central Japan. In Nagoya, the Minister will lead a business roadshow organized with the Central Japan Economic Federation (Chukeiren) and the Nagoya Chamber of Commerce & Industry. Engagements in Nagoya also include meetings with the leadership of Aichi Prefecture and major manufacturing investors from the automotive and steel sectors.

Osaka Roadshow and Visit's Objective

The tour will conclude in Osaka with an Investors and Business Roadshow, accompanied by meetings with leading Japanese corporations across the electronics, industrial, and consumer markets. The Ministry noted that Japan remains a key long-term partner in technology, industrial collaboration, and capital inflows across Indian infrastructure, steel, and automotive domains.

"This visit, backed by an unprecedented business delegation of more than 200 representatives cutting across sectors, is expected to give fresh momentum to bilateral trade and investment ties," the release stated. The engagements in high-technology manufacturing and next-generation industries remain central to India's vision of Atmanirbhar Bharat and Viksit Bharat @2047. (ANI)

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

Rajnath Singh lays foundation for defence expansion in West Bengal

Asianet News Central — Sun, 23 Aug 2026 13:30:38 +0530

Defence Minister Rajnath Singh laid the foundation for five brownfield expansion projects of Garden Reach Shipbuilders & Engineers Ltd. (GRSE) and Yantra India Limited (YIL) at GRSE Bhavan in Kolkata on Sunday, marking a major expansion of shipbuilding and defence manufacturing capabilities in West Bengal. The move aims to boost domestic production under the Make in India initiative and enhance the operational infrastructure required by maritime forces and key strategic sectors.

The event was attended by Defence Minister Rajnath Singh, West Bengal Chief Secretary Manoj Agarwal, Defence Production Secretary Sanjeev Kumar, Director General Ordnance (C&S) JP Dash, GRSE Chairman and Managing Director Cmde PR Hari, and YIL Chairman and Managing Director Vijaykumar Iyer. The foundation ceremonies were conducted simultaneously across sites in Kidderpore, Shalimar, Raichak, and Ishapore.

GRSE's Shipbuilding Expansion Plan

Under the expansion plan, Navratna defence PSU GRSE signed lease agreements with Syama Prasad Mookerjee Port, Kolkata (SMPK) to develop three sites along the Hooghly river. The largest among these is a 32-acre riverside facility at Raichak, planned as a major shipbuilding hub with an investment exceeding Rs 2,500 crore. Featuring a 356-metre waterfront, a 96-metre jetty, and an 8-to-10-metre draught, this facility includes a 200-metre dry dock, slipway, launching pad, and block fabrication units capable of constructing warships up to 200 metres and commercial vessels up to 60,000 DWT.

GRSE also allocated around Rs 100 crore to rejuvenate the 4-acre Timber Pond facility at Shalimar for medium-sized shipbuilding and repairs, restoring its 130-metre dry dock and setting up a 120-metre slipway. Additionally, an investment of approximately Rs 70 crore is directed toward the Damodar facility at Kidderpore Docks to carry out medium-sized vessel repairs and manufacture electric ferries and small crafts along its 25-metre waterfront.

YIL Bolsters Indigenous Metallurgical Output

At YIL's Metal and Steel Factory in Ishapore, two projects with an investment exceeding Rs 750 crore aim to bolster indigenous metallurgical output. A Rs 277.59-crore 3,000-ton Heavy Duty Hydraulic Open Die Forging Press will replace an older 2,650-ton unit to manufacture gun barrels, ammunition components, and heavy forgings.

Alongside it, a Rs 473.84-crore Radial Forging Plant will produce super alloy forgings, aerial bomb tubes, ordnance hardware, railway axles, and nuclear reactor components. Both YIL facilities integrate Industry 4.0 and energy-efficient systems to reduce import dependency while assisting ancillary micro, small, and medium enterprises across the state. (ANI)

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

India eyes deeper South America trade ties, Chile FTA talks on

Asianet News Central — Sun, 23 Aug 2026 13:00:25 +0530

Commerce Secretary Rajesh Agrawal will undertake a three-nation visit to South America from August 24-28, government sources said on Sunday. The visit is expected to deepen India's trade engagement with the region.

Focus on Bilateral and Regional Trade

During the visit, Agrawal will chair joint trade committee meetings with Brazil and Argentina, before travelling to Chile to advance talks on upgrading the India-Chile Preferential Trade Agreement (PTA) into a full Free Trade Agreement (FTA).

Advancing India-Chile FTA

Officials indicated the Chile FTA negotiations are at an advanced stage, with only a few outstanding issues left to resolve. "This is an effort to see how far we can move, because the idea is we are very close. There are only a few issues which are left to be resolved," a government source said.

The sticking points largely revolve around market access and critical minerals. "The issues are related to market access and also some critical minerals; we are trying to see where we can balance these two discussions," the source added. While Chile is pushing for deeper access to the Indian market, India is seeking greater engagement on critical minerals from the resource-rich nation.

Expanding Engagement with MERCOSUR

South America is increasingly being viewed by New Delhi as a key market for trade diversification. Sources said India is also keen to engage with the MERCOSUR bloc comprising Brazil, Argentina, Paraguay, Uruguay and Bolivia for an expanded PTA, with terms of reference for the arrangement currently under discussion. (ANI)

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

India's metals, mining sector outlook improving: Systematix report

Asianet News Central — Sun, 23 Aug 2026 11:00:28 +0530

The outlook for India's metals and mining sector is improving, with non-ferrous companies likely to remain the key earnings drivers, while capacity expansion, volume recovery and improving realisations could support select primary steel producers, according to brokerage firm Systematix. The brokerage expects companies with strong expansion pipelines, cost optimisation and operating leverage to outperform, although raw-material costs, commodity prices and geopolitical disruptions remain key risks.

Q1 FY27 Performance Highlights

Systematix said the first quarter of FY27 delivered divergent trends across its metals and mining coverage. Non-ferrous companies led earnings growth, benefiting from favourable commodity prices, lower costs, stronger copper earnings and improved alumina realisations. Primary steel producers reported resilient margins despite seasonally weaker volumes and higher coking-coal costs, while mining and steel-pipe companies delivered mixed performances. The overall EBITDA margin for the companies under Systematix's coverage increased to 21.6 per cent in 1QFY27 from 19.5 per cent in 4QFY26 and 18.6 per cent a year earlier. Non-ferrous companies recorded the strongest improvement, with margins rising to 23.2 per cent from 21.1 per cent sequentially and 17.8 per cent year-on-year.

Company-Specific Mining Outlook

In mining, Systematix remains positive on NMDC, supported by incremental volumes from Deposit 4 and 13, mine debottlenecking and improved logistics. Coal India, however, faces weaker volumes and pricing pressure despite rising power demand, while MOIL remains a recovery play dependent on improving production and manganese realisations.

Future Outlook and Key Monitorables

Systematix expects volume recovery, capacity expansion and operating leverage to support earnings, but steel realisations, coking-coal and base-metal prices, monsoon-related demand weakness and execution of new capacity will remain critical monitorables. (ANI)

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

Gold, Silver Prices Today, August 23: Check Latest Gold and Silver Rates in Delhi, Bengaluru & More

Deevika NM — Sun, 23 Aug 2026 09:05:27 +0530

Gold and silver prices remain closely watched on Sunday, August 23, 2026, as precious metals continue to trade at elevated levels following a strong rally in the previous week. Since Indian bullion exchanges are closed on Sunday, the rates available today largely reflect the latest market levels carried forward from Friday.

As per the latest available city-wise rates, 24-carat gold is priced at Rs 1,63,090 per 10 grams in Mumbai, Chennai, Kolkata, Bengaluru, Hyderabad, while Delhi records a slightly higher rate of Rs 1,63,240 per 10 grams. Ahmedabad is at Rs 1,63,140 per 10 grams. For 22-carat gold, the rate stands at Rs 1,49,500 per 10 grams in several major cities, while Delhi is at Rs 1,49,650 and Ahmedabad at Rs 1,49,550.

Silver has also remained strong. The latest available rate puts silver at around Rs 2,60,000 per kilogram in India, with rates varying across cities and sources. Goodreturns lists the August 23 silver rate at Rs 2,60,000 per kg, while its Bengaluru tracker gives the same rate.

Gold and Silver Rates Today: City-Wise Prices

City	24K Gold (10g)	22K Gold (10g)	Silver (1kg)
Delhi	Rs 1,63,240	Rs 1,49,650	Rs 2,60,000
Mumbai	Rs 1,63,090	Rs 1,49,500	Rs 2,60,000
Kolkata	Rs 1,63,090	Rs 1,49,500	Rs 2,60,000
Chennai	Rs 1,63,090	Rs 1,49,500	Rs 2,60,000
Bengaluru	Rs 1,63,090	Rs 1,49,500	Rs 2,60,000
Hyderabad	Rs 1,63,090	Rs 1,49,500	Rs 2,60,000

Note: Rates are indicative and can vary by jeweller, locality, taxes, making charges and other applicable costs. The Sunday figures reflect the latest available market levels.

The precious-metals rally has been supported by global market factors, including a weaker US dollar and increased investor interest in safe-haven assets. Gold also recorded a strong weekly performance, while silver continued to attract attention after its recent gains.

For jewellery buyers, GST, making charges, hallmarking and other applicable costs can increase the final purchase price. Buyers should therefore compare the day’s rate and additional charges before making a purchase.

AI capex slowdown could weaken dollar, keep US Treasury yields high

Asianet News Central — Sun, 23 Aug 2026 09:00:26 +0530

A slowdown in the global AI capital expenditure boom could trigger a reversal in capital flows, with Asian savings returning home and balance-of-payments pressures shifting towards the US, potentially weakening the dollar and keeping US Treasury yields elevated even amid slower economic growth, according to a Nuvama research report.

Nuvama said the recent US current account deficit (CAD) and strength of the dollar have been supported partly by the recycling of Asian private savings into US equities, particularly through the AI-led investment boom. If the AI capex cycle falters, Asian exports could weaken while capital currently invested in US assets could flow back to the region. Such a shift would narrow both the US deficit and Asian trade surpluses, but the change in capital flows could leave the US facing greater balance-of-payments pressure. This, Nuvama said, could result in a weaker US dollar and sticky or even higher Treasury yields despite a downturn in growth.

Two-Speed Global Recovery

The brokerage also highlighted that the global economy is already showing signs of a two-speed recovery. While chip-producing economies such as South Korea, Taiwan and China have benefited from the AI investment cycle, traditional sectors remain weak. Retail sales in the US, Europe and China have either slowed or remained subdued, while real estate activity across major economies remains close to post-global financial crisis lows.

Nuvama noted that US real GDP growth excluding technology capex is particularly weak, suggesting that the AI boom has not yet generated broad-based spillovers across the wider economy. This divergence is also reflected in global trade, with Asian technology exporters performing significantly better than the rest of the world.

Changing Impact of a Weaker Dollar

The brokerage argued that a weaker dollar may also have a different impact than in previous cycles. During the 2000s, dollar weakness helped stimulate global trade, commodities and emerging-market growth as US imports expanded and Asian surpluses were recycled into Treasuries. Under the emerging "market-dominated" regime, however, dollar weakness could instead become disinflationary by narrowing US external imbalances and reducing global demand.

Structural Factors Limiting US Deficit

Nuvama also sees structural factors limiting the US CAD, including a shift from household- and real-estate-led growth towards business investment, rising US oil surpluses and tariffs aimed at reshoring production.

The brokerage cautioned that if the AI capex boom falters, the global adjustment may increasingly be reflected through a weaker dollar, higher US bond yields and slower global growth rather than the traditional US-led reflationary cycle. (ANI)

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

EPFO launches Enrolment Campaign 2026 to regularise past records

Asianet News Central — Sat, 22 Aug 2026 19:30:28 +0530

The Employees' Provident Fund Organisation (EPFO) urged establishments to utilize the Employees' Enrolment Campaign, 2026 to ensure social security for employees outside EPF coverage.

About the Enrolment Campaign 2026

According to the Ministry of Labour & Employment, the central retirement fund body notified the scheme with effect from 29 June 2026, creating a dedicated window for establishments across sectors to regularise their past records. The initiative provides a special one-time opportunity to enrol eligible workers who remained outside formal EPF coverage between 1 April 2009 and 31 March 2026. The Ministry noted that the enrolment drive will remain operational until 31 October, serving as a structured mechanism to bring unregistered staff into the fold. The initiative focuses on expanding worker welfare while giving firms a clear route toward voluntary regularisation.

"The Campaign will remain open up to 31 October 2026 and is aimed at facilitating voluntary compliance by employers and extending the benefits of provident fund, pension and insurance to eligible workers," the Ministry stated. Under the framework of the scheme, employers can declare and enrol individuals who missed coverage during the prescribed seventeen-year window, provided those workers are alive and continuing in active employment with the establishment on the date of declaration.

Administrative Reliefs for Employers

To lower the burden on establishments coming forward, the scheme incorporates specific administrative reliefs for past omissions. "The Campaign provides specified relaxations to facilitate regularisation of past compliance, including waiver of the employee's share where it was not deducted earlier, subject to the conditions of the Campaign," the document noted.

Mandatory Digital Process

To ensure transparency and speed, the authorities mandated an entirely digital process for registrations and payments. Employers must carry out all formalities through the designated online portal. Establishments are required to generate a Face Authentication-based Universal Account Number (UAN) through the UMANG mobile application for every declared employee. Following registration, firms must remit statutory contributions through the standard Electronic Challan-cum-Return (ECR) platform.

Ensuring Wider Compliance and Awareness

The Ministry explained that the campaign serves a dual purpose for the corporate and labour sectors. "The Campaign is intended to benefit establishments and workers by providing a structured mechanism for bringing eligible employees within the statutory social security framework," the statement said.

Establishments have been advised to conduct internal audits of their employment and wage records to identify individuals who qualify under the eligibility criteria. Simultaneously, the EPFO initiated awareness and outreach programmes to inform employers, workers, contractors, and other industry stakeholders about the operational rules.

Various Ministries, Central Departments, State Governments, Union Territories, Public Sector Undertakings, and Autonomous Bodies are also coordinating to ensure wider dissemination across establishments and service providers operating under their administrative oversight. Employers were reminded to finalise all pending declarations and complete remittances before the compliance window closes on 31 October 2026. (ANI)

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

Equity mutual fund assets hit fresh record of Rs 48.5 lakh crore

Asianet News Central — Sat, 22 Aug 2026 18:01:03 +0530

Equity AUM Hits Record High

Equity mutual fund assets rose to a fresh record of Rs 48.5 lakh crore in July, accounting for 56 per cent of the mutual fund industry's overall Average Assets Under Management (AAUM), as active equity schemes continued to see strong growth, according to the NSE Market Pulse report for August.

The report said equity AUM had risen steadily after moderating in March 2026, with active equity schemes registering 13.3 per cent year-on-year growth and accounting for nearly 78 per cent of total equity AUM. Their share of the overall mutual fund industry's AAUM also reached 44 per cent.

Flexi-Cap Funds Lead the Pack

"Equity and hybrid AAUM scale fresh highs in July," the NSE report said, highlighting the continued expansion of equity-oriented mutual fund assets. Within open-ended equity schemes, flexi-cap funds held the largest share of assets at 15.6 per cent, followed by thematic funds at 14.6 per cent, mid-cap funds at 13.6 per cent and small-cap funds at 11.5 per cent. Together, these four categories accounted for more than 55 per cent of equity AUM.

SIP Contributions Remain Robust

The report also pointed to continued investor participation through systematic investment plans (SIPs). Monthly SIP contributions stood at Rs 31,961 crore in July, remaining above Rs 30,000 crore for the fifth consecutive month.

Cumulative SIP contributions in the first four months of FY27 reached Rs 1.3 lakh crore, up 15.4 per cent year-on-year. SIP assets crossed Rs 18 lakh crore for the first time, reaching Rs 18.2 lakh crore in July and accounting for 21.1 per cent of the mutual fund industry's overall assets. The report said this reflected the "sustained pace of investor participation."

Passive Funds Also See Record Growth

Meanwhile, passive funds also reached a fresh record, with AAUM rising to Rs 15.5 lakh crore, up 23.3 per cent year-on-year. Equity passive funds accounted for nearly 68 per cent of passive assets, while gold and silver ETFs also recorded strong growth.

Debt Funds Witness Decline

In contrast, debt fund AAUM declined 0.4 per cent year-on-year to Rs 21.7 lakh crore, mainly due to a sharp contraction in passive debt funds, while active debt assets remained broadly subdued.

With equity AUM, SIP assets and passive funds all at record levels, the report's July data points to continued expansion of the mutual fund industry's equity-oriented segment, while debt assets remain comparatively subdued. (ANI)

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

BPCL arm BPRL completes Brazil JV buyout, renames it to BPRL Brasil

Asianet News Central — Sat, 22 Aug 2026 18:00:29 +0530

Bharat PetroResources Limited recently completed the successful acquisition of Videocon's entire shareholding in IBV Brasil Petroleo Limitada (IBV), its erstwhile Brazilian joint venture company. Following this transaction, the company confirmed that IBV became a wholly owned step-down subsidiary of the enterprise and took on the new name of BPRL Brasil Limitada. The upstream firm is an arm of Bharat Petroleum Corporation Limited, a Fortune Global 500 entity and a Maharatna public sector undertaking.

The formal change in name received official approval and registration from relevant Brazilian authorities on August 19, 2026, according to an official press release. At present, BPRL Brasil Limitada holds participating interests across several oil and gas concessions in Brazil, which include the BM-SEAL-11 and BM-C-30 blocks.

In the BM-SEAL-11 concession, a consortium comprising Petrobras and BPRL Brasil Limitada currently carries out field development activities. Upon the formal commencement of commercial production, the offshore project has the capacity to yield an estimated one million tonnes of oil equivalent per annum as the equity share of oil and gas production for BPRL.

New Identity and Strategic Direction

The release stated that the change establishes a clear operational path for the overseas unit. "The new name heralds a new identity and marks a fresh start for BPRL, with complete focus on project development activities, armed with BPCL's core values, ethos & brand promise," the release said. "For the Brazilian market, this ushers in a message of change in ownership and a sound and stable entity to partner with."

Strategic Expansion and Future Outlook

The corporate restructuring aligns with broader strategic programs undertaken by the parent group. The upstream operator pursues steady expansion under BPCL's Project ASPIRE framework, keeping its targeted exploration and production capital expenditures on schedule across key regions such as Brazil and Mozambique.

On an operational level, BPRL currently records an aggregate output of approximately 55,000 barrels of oil equivalent per day across its diverse portfolio of assets located within India and overseas. The ongoing project investments and development work across these concessions position the upstream producer to register a significant increase in its total daily hydrocarbon output by the year 2031. (ANI)

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

40% of Indian office occupiers fret over quality space until 2028: CBRE

Asianet News Central — Sat, 22 Aug 2026 18:00:22 +0530

Nearly 40 per cent of office occupiers in India are concerned about securing high-quality, well-located office space through 2028, even as companies continue to favour established business districts for future requirements, according to CBRE's 2026 India Office Occupier Survey.

The concern comes as 55 per cent of organisations considering relocation are actively targeting better-quality buildings to improve employee experience and support future growth.

Leasing Trends Highlight Preference for Quality

CBRE said the preference for quality space is already visible in leasing activity, with 41 per cent of all office leasing during 2025-H1 2026 taking place in investment-grade assets. In core micro-markets, 46 per cent of leasing transactions were concentrated in investment-grade buildings, while such assets accounted for 57 per cent of new completions during the period.

Established Locations Remain Top Choice

The report said occupiers are also showing a strong preference for established locations. About 47 per cent of respondents prefer core or established micro-markets for new offices, while another 25 per cent prefer a combination of core and non-core locations.

"Location decisions continue to favour established micro-markets, with almost half of occupiers preferring core precincts. The confluence of mature infrastructure, deep talent catchments, and strong multimodal connectivity continues to influence occupiers' location strategy, outweighing pure cost advantages," CBRE said.

Future Workplace Strategies and Recommendations

The survey also points to a need for occupiers to plan office moves and expansion well ahead of time. CBRE's recommendations say companies should plan relocation and expansion requirements in advance as the availability of high-quality space in core markets remains constrained. At the same time, the report indicates that the definition of a preferred workplace is widening beyond the physical quality of an office. Flexible workspaces, commute access and AI-enabled infrastructure are increasingly being considered as part of future workplace strategies.

For landlords and developers, CBRE recommends prioritising high-quality assets and improving connectivity, while investors could focus on upgrading ageing buildings to meet the growing preference for better-quality workplaces. The report also suggests developing quality office space in select Tier-II cities to capture emerging occupier demand. (ANI)

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

Commercial, used-car loans drive India's vehicle lending growth: CRIF

Asianet News Central — Sat, 22 Aug 2026 17:30:58 +0530

Commercial vehicle loans recorded a 20.1 per cent five-year compound annual growth rate (CAGR) between June 2021 and June 2026, anchoring an expansion across India's vehicle lending sector, according to CRIF High Mark's research report.

Growth Drivers and Market Diversification

The findings showed that the used-car loan category is the fastest-growing segment, registering a 26.2 per cent CAGR over the same five-year period. Borrower numbers in the used-car segment expanded 2.4 times, reflecting greater formalisation and its transition into a mainstream credit product.

"India's vehicle finance market is entering a phase of more segmented and diversified growth, with commercial vehicles and used cars emerging as key drivers, alongside a premiumisation trend in auto financing," the report stated.

Two-Wheeler Financing Leads in Volume

Two-wheeler financing maintains the largest overall borrower volume. The active borrower count in this segment rose from approximately 2.3 crore in June 2021 to 3.6 crore in June 2026. The two-wheeler segment continues to introduce consumers to credit, with 80 per cent of borrowers identified as new-to-product.

Premiumisation and Rising Loan Values

Auto financing reflected a shift toward higher-value disbursements, as average exposure per borrower increased at a 9.2 per cent CAGR from June 2021 to June 2026. The share of auto loans exceeding Rs 15 lakh rose from 27.6 per cent in Q1 FY25 to 29.8 per cent in Q1 FY27.

"Commercial vehicle loans are the clearest growth engine," while used-car financing serves as the "fastest-formalizing opportunity." As per the report, overall vehicle loan originations rose 17.1 per cent year-on-year in Q1 FY27, driven by higher loan amounts and steady transaction volumes across segments. The average auto-loan ticket size reached Rs 8.6 lakh.

Asset Quality and Borrower Trends

In used-car financing, new-to-product borrowers accounted for 75 per cent of total originations during the period. On asset quality, later-stage delinquency indicators show improvement across categories. Auto loans maintain the lowest risk profile, whereas commercial vehicle loans show comparatively higher early-stage delinquency.

"Average ticket sizes are rising, active loans per borrower are increasing in some segments (especially auto loans), and a growing multiloan borrower cohort among them suggests deeper lender relationships," the report highlighted.

The report added that these borrower trends also indicate a "need for tighter bureau-level concentration checks," citing an increase in commercial vehicle borrowers with two or more active loans from 15.7 per cent in June 2021 to 19.9 per cent in June 2026. (ANI)

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

Nifty Next 50 leads market rally in July with 2.82% gain: Report

Asianet News Central — Sat, 22 Aug 2026 17:00:45 +0530

Indian Indices Performance

Nifty Next 50 gained 2.82 per cent in July, recording the highest monthly gain among the indices, according to Motilal Oswal Mutual Fund's Global Market snapshot report.

The benchmark Nifty 50 rose 2.17 per cent over the month, while the Nifty 500 gained 2.02 per cent.

Broader segments showed positive movement, with the Nifty Midcap 150 advancing 1.60 per cent, the Nifty Smallcap 250 increasing 1.13 per cent, and the Nifty Microcap 250 recording a gain of 0.14 per cent.

Sectoral Highlights

All indices tracked in the report recorded positive returns for the period ending July 31. Sectoral performance showed seven of the ten tracked sectors delivering positive returns. Information Technology posted the highest increase at 16.77 per cent.

Consumer Durables gained 9.96 per cent, Realty rose 8.67 per cent, and Auto advanced 8.55 per cent. Healthcare, Metal, and FMCG grew 3.82 per cent, 1.60 per cent, and 0.67 per cent, respectively.

In contrast, Energy recorded a decline of 2.54 per cent, while Defence fell 1.98 per cent and Bank decreased 0.48 per cent.

The report noted that "Nifty 500 was up by 2.02 per cent in July, driven largely by Consumer Discretionary, Information Technology, and Healthcare, while Industrials, Utilities, and Services remained negative."

Factor-Based Indices Review

Quality and Low Volatility indices gained 1.78 per cent and 1.75 per cent during the month.

Momentum dropped 1.11 per cent, maintaining a 2.67 per cent gain over the past year. Enhanced Value declined 0.14 per cent in July, while holding a 10.54 per cent return over the past 12 months.

Global Market Movements

International equity markets showed mixed movements during the period. In the United States, the Dow Jones Industrial Average rose 0.32 per cent, while the S&P 500 slipped 0.13 per cent and the Nasdaq 100 fell 6.61 per cent.

In other markets, China gained 8.60 per cent and Brazil rose 6.28 per cent, while Korea declined 17.11 per cent and Taiwan fell 5.80 per cent.

European indices moved higher, with the United Kingdom gaining 5.21 per cent, Germany rising 3.19 per cent, France adding 1.86 per cent, and Japan posting a 1.02 per cent advance.

Commodities and Digital Assets

As per the report, commodities and digital assets experienced significant shifts. Crude oil advanced 21.83 per cent to trade at USD 84.67 per barrel.

Gold held flat at USD 4,026 per ounce, and the USD/INR currency pair recorded a 0.80 per cent shift.

Cryptocurrencies moved upward during July, as Ethereum rose 16.89 per cent and Bitcoin gained 8.04 per cent. (ANI)

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

India's alternative investment market to hit $2 trillion by 2034: Report

Asianet News Central — Sat, 22 Aug 2026 16:30:26 +0530

India's alternative investment market could grow more than five-fold to over USD 2 trillion by 2034, as rising participation by high-net-worth investors and demand for higher-yielding, less-correlated assets drive greater capital into private markets, according to a report by EY and Julius Baer.

The report estimates India's alternative investment assets at about USD 400 billion currently, including USD 156 billion in SEBI-registered Alternative Investment Funds (AIFs), with the remainder coming from offshore vehicles, family offices and unlisted structures.

The Rise of Family Offices in Private Capital

The expansion is expected to coincide with a broader change in how Indian family offices deploy capital. The report said they are moving beyond passive investing and increasingly participating as limited partners in private equity and venture capital funds, while also pursuing co-investments and direct investments.

"Family offices have emerged as one of the most transformative forces shaping India's private capital ecosystem," the report said.

Expanding Investment Horizons

The report further noted that family offices are increasingly using their sector knowledge and long-term investment horizon to back emerging businesses and new ventures. Their investment focus is also expanding towards artificial intelligence, climate technology, renewable energy, digital infrastructure, energy storage, semiconductors, electronics manufacturing, cloud services and data centres. Real estate remains an important investment area.

India's Growing Wealth Pool

India's growing wealth pool is supporting this shift. The report noted that the country had more than 19,000 ultra-high-net-worth individuals, with the number projected to exceed 25,000 by 2031. Estimates cited in the report also show that the number of family offices has increased from around 45 in 2018 to nearly 300 by 2024-25.

Future Outlook and Institutionalisation

The report expects family offices to play a larger role in long-term capital formation as their investment strategies become more institutionalised. It said stronger governance, technology, professional talent and data-led decision-making will be increasingly important as these investors expand across alternative funds, private equity, venture capital and pre-IPO opportunities.

(ANI)

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

FCNR(B) deposits dominate as RBI's swap scheme nets USD 72.85 bn

Asianet News Central — Sat, 22 Aug 2026 16:00:32 +0530

Forex inflows mobilised under the Reserve Bank of India's special USD-INR swap facility reached USD 72.85 billion as of August 21 with FCNR(B) deposits accounting for the bulk of the funds raised under the scheme, according to data released by the central bank on Saturday.

Inflow Breakdown by Component

The RBI said authorised dealer banks reported USD 65.397 billion in inflows through Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits under the facility as of August 21. This was followed by overseas foreign currency borrowings (OFCBs) at USD 4.86 billion and external commercial borrowings (ECBs) at USD 2.591 billion.

About the Special Swap Facility

The central bank had introduced the special USD-INR forex swap facility on June 8, covering inflows through FCNR(B) deposits, ECBs and OFCBs. The facility was designed to support foreign currency inflows through these channels and strengthen the availability of foreign exchange in the domestic financial system.

Under the scheme, the window for FCNR(B) deposits remains open until August 31 while the facility for ECBs and OFCBs will remain available until December 31, the RBI said.

FCNR(B) Deposits Emerge as Principal Contributor

The latest data show that FCNR(B) deposits have emerged as the dominant source of foreign currency mobilisation under the facility, accounting for nearly 90 per cent of the total inflows reported so far. The combined inflows from OFCBs and ECBs stood at around USD 7.45 billion.

The strong mobilisation comes ahead of the August-end deadline for FCNR(B) deposits and highlights the significant response from banks and overseas depositors to the RBI's special forex facility. The central bank had earlier announced that the FCNR(B) window would close on August 31, while the ECB and OFCB components would continue for a longer period.

The latest figures provide an update on the utilisation of the facility by authorised dealer banks through August 21. The USD 72.85 billion inflow under the three components represents a substantial mobilisation of foreign currency through the RBI-backed framework, with FCNR(B) deposits remaining the principal contributor. (ANI)

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

India to add 50 GW renewable energy annually for 2 years: Nuvama

Asianet News Central — Sat, 22 Aug 2026 15:01:18 +0530

India could add around 45-50 gigawatts of renewable energy capacity annually over the next two years, supported by a large pipeline of projects awaiting power purchase agreements (PPAs), according to Nuvama Research.

The research firm said around 140 gigawatts of renewable capacity is yet to be converted into PPAs, while about 86 gigawatts of capacity already has PPAs. Based on this pipeline, Nuvama expects renewable energy additions to accelerate over the next two years.

Ambitious Renewable Targets

"Given ~86GW of existing PPAs, we believe annual RE additions of ~45-50GW over the next two years are achievable, including solar rooftop additions," Nuvama said in its latest power sector update.

Project Pipeline and PPA Status

The report said around 2.26 lakh megawatts of renewable capacity has been tendered since FY23, of which about 1.26 lakh megawatts has been awarded. However, only around 86,000 megawatts, or 38 per cent of the total tendered capacity, currently has PPAs, leaving nearly 1.40 lakh megawatts yet to be converted into PPAs.

Nuvama noted that renewable capacity additions have already gathered pace, with 13.3 GW added year-to-date in FY27. India's total installed power capacity stood at around 549 GW at the end of June 2026.

Rising Power Demand

The outlook comes as power demand remains strong. Electricity demand rose 11.2 per cent year-on-year in July 2026 to around 171 billion units, while peak demand reached nearly 270 gigawatts, up about 22 per cent from 220 gigawatts in July 2025.

The increase in demand also lifted thermal plant utilisation, with all-India thermal plant load factor rising to 68.2 per cent in July from 62.3 per cent a year earlier. Nuvama said the thermal generation mix stood at around 67 per cent, while renewable generation accounted for around 20 per cent.

Favourable Outlook and Challenges

"Overall, the macro demand remains favourable, and we remain directionally positive on generation (Thermal/RE) and transmission sector momentum," the report said.

However, the report flagged execution challenges in the transmission segment, with labour shortages continuing to affect EPC players. It expects these constraints to ease in the second half of FY27, potentially allowing smoother project execution.

Nuvama also noted that power prices remained sharply different across the day, with solar-hour prices at around Rs 2.8 per kWh, while non-solar evening prices rose to around Rs 7.5 per kWh in July.

(ANI)

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

Goldman Sachs: Indian banks' core profit growth to accelerate to 17%

Asianet News Central — Sat, 22 Aug 2026 14:31:18 +0530

Indian Banks Poised for Accelerated Profit Growth

Indian banks are approaching a cyclical inflection point, with core Pre-Provision Operating Profit (PPoP) growth expected to accelerate to approximately 17 per cent year-on-year over FY26-FY29E, according to a report by Goldman Sachs. The anticipated expansion represents a sharp reversal from the moderate earnings observed over the past few years.

The projection is underpinned by steady loan growth of around 14 per cent, a 10 basis points recovery in net interest margins (NIM) from an FY27 trough, and benign asset quality, despite near-term macroeconomic and geopolitical uncertainties.

Signs of Operational Recovery

According to the Goldman Sachs report, the financial sector is showing initial signs of operational recovery. "Our proprietary GS India Banks Leading Indicator points to a gradual improvement in the sector, underpinned by healthy GDP growth, improved liquidity from RBI measures, and easier funding conditions," the report stated.

Valuations Attractive Despite Headwinds

The report highlighted that structural headwinds across the sector appear fully factored into current market multiples. Private bank valuations have dropped near 15-year lows, falling below levels seen during the COVID-19 pandemic, and currently "screen as attractive compared to regional Asian peers."

"Current valuations already capture this decade's structural headwinds, including intense deposit competition, slowing low-cost deposit growth, compressing risk spreads, and a tighter operating environment," the report noted.

Context of Recent Downgrades

The turnaround follows a three-year period marked by consistent downgrades in core earnings. Between FY24 and FY26, core PPoP recorded a compound annual growth rate (CAGR) of 9 per cent for private banks and 5 per cent for state-owned enterprises (SoE) banks.

"Indeed, we have seen consistent downgrades to core earnings across the sector, driven by: a) a challenging macro environment leading to slower balance-sheet growth; b) asset-quality pressures for private banks in the unsecured lending segment; and c) falling interest rates and elevated competitive intensity weighing on margin progression," the report added.

Key Risks to Projections

Goldman Sachs outlined several key risks that could alter these projections. Loan growth assumptions face pressure if competitive intensity exceeds expectations or if the recovery in retail credit demand remains slower than anticipated. In addition, deteriorating asset quality within the micro, small, and medium enterprise (MSME) segment presents the potential for higher credit costs, while margins could face sustained pressure if loan spreads fail to improve alongside shifts in the interest rate cycle.

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

Auto NBFCs' Q1FY27 disbursements grow 20.7% YoY despite CV dip

Asianet News Central — Sat, 22 Aug 2026 14:01:08 +0530

Auto finance non-banking financial companies' (NBFCs) Q1FY27 disbursements grew 20.7 per cent YoY to ~Rs 1.04 lakh crore, but declined 4.6 per cent QoQ as commercial vehicle (CV) volumes normalised after Q4FY26's pre-buying.

According to a report by Centrum, auto NBFCs delivered strong earnings during the first quarter of FY27, scaling fresh highs as sector assets under management (AUM) expanded approximately 17 per cent YoY. The growth engine visibly matured, shifting from the commercial vehicle-led surge of FY26 into a broader and more diversified expansion phase.

Disbursement Trends and CV Normalization

"Disbursement growth stayed healthy on a YoY basis, sustained by the continuing tailwind from GST rate cuts and resilient PV and tractor demand, but CV financing cooled sequentially across nearly every lender, less a demand problem than a normalization after an unusually heavy Q4FY26, with fleet operators and OEMs digesting the prior quarter's pre-buying before festive-season restocking picks up later in FY27," the report said.

CV disbursements fell sequentially across major lenders, according to the report, with Cholamandalam dropping 14.7 per cent, Shriram Finance declining 13.8 per cent, Mahindra Finance decreasing 24.9 per cent, and Sundaram Finance contracting 3.5 per cent. Sundaram Finance remained the lone lender to record positive quarter-on-quarter overall disbursement growth of 11.1 per cent, aided by its retail franchise.

Strategic Diversification Gains Momentum

Non-commercial vehicle segments continued to gain ground across balance sheets. Cholamandalam's non-vehicle mix crossed 40 per cent of total disbursements, while Shriram Finance saw its non-CV vehicle finance segment rise 25 per cent YoY.

"The more durable story this quarter was diversification: SME/LAP, gold loans, construction equipment, personal loans and home loans continued to gain share across balance sheets, a deliberate strategy by most lenders to reduce dependence on the vehicle cycle and smooth earnings through periods exactly like this one," the report said.

Robust Profitability and Stable Asset Quality

On the operational and profitability front, sector pre-provision operating profit (PPOP) climbed 35.7 per cent YoY to Rs 11,771 crore, while profit after tax (PAT) surged 53.4 per cent to approximately Rs 6,519 crore. Asset quality remained stable on an annual basis despite a seasonal monsoon blip, with Stage 2 and Stage 3 assets rising QoQ across all lenders.

Positive Growth Outlook for FY27

The report noted that management teams across the sector maintain confident growth guidance for FY27, targeting mid-teen to low-20s AUM growth through market share gains and product diversification. (ANI)

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

CLSA: AI to boost India's IT sector by FY30, faces short-term hurdles

Asianet News Central — Sat, 22 Aug 2026 14:00:24 +0530

Artificial intelligence (AI) could become a net growth driver for India's IT services industry over the longer term, with AI-led volumes potentially outweighing revenue pressure from automation by FY30, according to a report by CLSA. The report further warned that near-term growth remains constrained by weak macroeconomic conditions and softer discretionary demand.

CLSA's Assessment: Short-Term Pain, Long-Term Gain

CLSA said the industry is facing "multiple macro/micro headwinds", but expects AI to eventually create new growth opportunities. It said AI could initially compress revenues as productivity gains are passed on to clients, but "AI volumes could supersede deflation by FY30." The brokerage expects the industry's US-dollar revenue growth to reach mid- to high-single digits by FY31, supported by increasing AI-related demand. It also sees a potential industry growth inflection over the next 18-24 months, with FY28 emerging as an important period for stronger growth. "Near term negative but long term positive" is CLSA's assessment of AI's impact on systems integrators. The brokerage said it prefers to believe that AI will eventually provide strong growth opportunities despite near-term revenue compression. It also said there is currently no evidence of a major contraction in large deals or IT-services budgets among large global companies because of AI.

AI Spending on the Rise

AI spending itself is expected to expand sharply. According to CLSA and IDC estimates cited in the report, generative AI's share of overall IT services spending is expected to double to 11 per cent by 2029. Total technology spending linked to AI is also projected to rise across software, services and hardware, with AI applications and platforms seeing particularly strong growth.

Signs of Resilience in IT Demand

There are already signs of resilience in Indian IT demand. CLSA said most companies reported healthy year-on-year order-book growth, helped by cost-saving and vendor-consolidation deals. It also noted an improvement in revenue per employee across its covered companies, suggesting greater use of AI tools in delivery.

Lingering Concerns and Future Outlook

However, competitive intensity is rising, while weaker discretionary spending, geopolitical uncertainty and structural pressure from global capability centres remain concerns. CLSA also flagged the risk of IT services losing a share of global AI spending to hardware and software. The brokerage said the key question ahead will be whether AI-driven demand can scale quickly enough to offset the revenue deflation created by productivity gains, with the balance expected to improve towards FY30-FY31.

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

India's private credit funds embracing AI for deal sourcing: EY report

Asianet News Central — Sat, 22 Aug 2026 12:31:01 +0530

India's private credit funds are increasingly adopting artificial intelligence (AI) for deal sourcing, data analysis and credit assessment, with most players using the technology selectively and a smaller group integrating it more deeply into their investment processes, according to an EY report.

AI Adoption Levels Vary Across Funds

The EY Private Credit Pulse Survey, part of its H1 2026 update, found that 67 per cent of respondents use AI moderately, mainly for data analysis and monitoring, while 11 per cent said AI tools are already core to their origination and credit analysis processes. Another 22 per cent are in the early stages of adoption and are piloting AI tools.

The findings point to a gradual shift in how private credit funds assess potential deals and monitor borrowers, although AI adoption remains at different stages across the market.

"Most funds have begun using AI selectively, particularly for data analysis, monitoring and underwriting support, while a smaller set of participants have started integrating AI more deeply into origination and credit assessment processes," the report said.

Market Dynamics and Investor Sentiment

The survey forms part of EY's assessment of changing dynamics in India's private credit market, which expanded in the first half of 2026 despite global economic uncertainty, geopolitical tensions and commodity price pressures.

According to EY, private credit funds are also seeing demand from stress-related situations, capital expenditure requirements and mergers and acquisitions financing.

The broader market remained constructive, with 60 per cent of survey respondents bullish on the asset class over the next one to two years, while 27 per cent were cautious and 13 per cent very bullish.

The report also found that 67 per cent of respondents preferred deals targeting returns above 18 per cent, categorised as high-yield, while around 33 per cent targeted returns between 12 per cent and 18 per cent, classified as performing credit.

EY said the survey also assessed the impact of geopolitical tensions on deployment activity, with 40 per cent of respondents reporting no change in deployment pace and another 40 per cent saying they had slowed deployment due to greater caution over sectors and geographies.

Future Outlook for AI Integration

The findings suggest that AI adoption in private credit is likely to deepen as funds move beyond experimentation towards greater use in origination, underwriting and ongoing portfolio monitoring, even as the extent of adoption varies across market participants. (ANI)

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