Page 11 - Industry News

Recycling industry seeks GST cut on scrap ahead of Budget 2026-27

Apex body MRAI warns current GST regime hurting formalisation; demands removal of aluminium scrap duty

Compressed biogas emerges as fast-growing pillar of India's energy mix

India's compressed biogas sector has expanded rapidly in recent years, aided by policy support, blending mandates and investment, though challenges around feedstock and scale persist

India Inc likely to post 6% revenue growth in FY27: Fitch Ratings

Fitch Ratings on Tuesday said the aggregate revenue for its rated corporates will rise by 6 per cent in FY27 on steady GDP growth and an improved consumer-spending outlook, following a comprehensive reduction in GST rates. However, corporates could face some downside risks if additional US tariffs are imposed or in case of a sharp depreciation of the rupee. Fitch has recently revised India's GDP growth forecast for FY26 to 7.4 per cent, from 6.9 per cent, and expects annual growth of 6.4 per cent and 6.2 per cent over FY-27 and FY28, respectively. The rating agency expects GDP growth and robust infrastructure spending to underpin healthy demand for cement and building materials, electricity, petroleum products, steel, and engineering and construction (E&C) companies during FY27. Fitch-rated Indian corporates generally have low direct exposure to the current US tariffs, but unaffected sectors, including pharmaceuticals, could be hit by further US tariff announcements. Direct ...

Shift from cereals to horticulture gains pace across Indian farms

The past decade has seen farmers slowly but steadily expand acreage under more lucrative fruits and vegetables, signalling a gradual diversification away from cereal crops

Govt to extend quality certification fee relief for MSMEs by 3 years

The government is set to extend quality certification fee concessions by three years beyond the current mid-2026 deadline to support small and medium enterprises, a senior official said on Tuesday, as India pushes a quality-first approach to manufacturing. The Bureau of Indian Standards (BIS) has moved a proposal for the extension, which provides 80 per cent fee reduction for micro units, 50 per cent for small enterprises and 20 per cent for medium-sized firms. "Very recently we have moved a proposal, it is likely to fructify... this concession would be available for the next three years," said Bharat Khera, additional secretary in the Consumer Affairs Ministry, at a PHD Chamber of Commerce event. India needs to shift from compliance-driven to culture-driven quality standards to transform its Viksit Bharat manufacturing vision into reality, Khera said, warning that quality is not a compliance cost but "an enabler for market access". The BIS has published over 23,000 standards with

Signs of recovery: IT sector's results promising, guidance lifts outlook

Infosys and HCL Tech have both materially raised guidance. TCS has said that it expects FY26 international revenues to exceed the level of FY25

PSBs urge RBI to include state development loans in OMO auctions

Public sector banks have asked the RBI to include state development loans in OMO purchases as SDL spreads widen sharply due to heavy state bond supply

Budget 2026: Startups, investors push regulatory changes to unlock capital

Venture investors seek policy changes to unlock capital for deep-tech firms, ease regulatory burdens

SME chatroom: Para 4.15 of FTP vs ANF 7A - Procedure defeats policy intent

DGFT procedures and ANF 7A requirements risk undermining Foreign Trade Policy benefits, raising concerns over deemed exports, duty drawback claims and delayed rollout of interest subvention

Next round of tariff hikes likely after Jio IPO; analysts expect 15% rise

Delay in hikes due to organic increase in market leader Jio's ARPU

Realty firms roll out integrated platforms to tap India's GCC boom

According to Shrinivas Rao, FRICS, chief executive officer (CEO), Vestian, more than 1,850 GCCs are currently operating in India

Centre announces India's first tailings policy for critical minerals

Tailings refer to the leftover waste material after valuable minerals are extracted from crushed ore, forming a slurry of rock particles, water and processing chemicals

RDI funding for industry-backed projects to begin by Jan-end: Minister

BIRAC, TDB named second-level fund managers

Q3 earnings: Top IT firms take ₹5,400 cr hit from new labour codes

India's top six IT companies - TCS, Infosys, HCLTech, Wipro, Tech Mahindra, and LTIMindtree - took a combined hit of about Rs 5,400 crore on account of the implementation of new labour codes, the one-time charge eroding their Q3 FY26 earnings performance substantially. The new regulations, which consolidate 29 existing labour laws, have forced a structural shift in how companies calculate employee benefits. The country's largest IT services exporter, Tata Consultancy Services (TCS), bore the heaviest burden, reporting a "statutory impact" of Rs 2,128 crore. The provisioning led to a 13.9 per cent drop in net profit to Rs 10,657 crore. TCS CFO Samir Seksaria noted that the hit included Rs 1,800 crore for gratuity and Rs 300 crore for leave encashment, warning that the codes will continue to shave 0.100.15 per cent off margins moving forward. Infosys too reported a one-time exceptional charge of Rs 1,289 crore. The Bengaluru-based firm saw its net profit decline 2.2 per cent to Rs 6,

Mobile phone makers seek tax exemption on capital goods, display parts

Mobile phone firms have sought a customs duty reduction on mobile parts like microphones, printed circuit boards, and wearables, as well as tariff correction on capital goods and other components, to lower the handset production cost, industry body ICEA said in its budget recommendations. The mobile phone makers' body has suggested that the government rationalise duty on capital goods, citing recent restrictions imposed by China that threatened local production of mobile phones. "With China's recent export restrictions on manufacturing machinery increasing supply-chain risks, India's dependence on imported equipment has become a strategic vulnerability. It is, therefore, recommended that the government extend the existing zero-duty benefit on capital equipment to all constituent components, sub-assemblies, and assemblies imported specifically for their manufacture," ICEA said. India Cellular and Electronics Association (ICEA), whose members include Apple, Foxconn, Dixon, Xiaomi, Viv

Railway cooperative societies asked to align bye-laws with amended Act

Cooperative Election Authority (CEA) on Monday called on railway employee cooperative societies to align their bylaws with amended legislation, as the regulator works to strengthen democratic governance in the sector. The meeting brought together representatives from 16 multi-state cooperative societies of railway employees, with more than 40 office bearers attending, the authority said in a statement. The discussions centered on aligning society bylaws with the Multi-State Cooperative Societies (Amendment) Act, 2023, establishing representative general bodies, and ensuring timely election proposals are submitted at least six months before boards complete their tenures. CEA Chairperson Devendra Kumar Singh said the body has conducted 220 elections since its establishment, with 70 currently underway nationwide. The authority was created following 2023 amendments to oversee electoral rolls and conduct elections in multi-state cooperative societies. India has approximately 18 ...

Space industry seeks PLI, tax sops and procurement push in Budget

India's space industry has sought PLI incentives, tax holidays and a strong government procurement push in the Budget to spur private investment and global competitiveness

Shrimp farming can be an answer to growing soil salinity in North India

The reports said that in India, out of a total 6.74 million hectares of salinity-affected subsoils (SAS), 1.2 million hectares (around 18%) are in north-western India alone

Over ₹52,300 crore MSME loans sanctioned by PSBs under digital credit model

Public sector banks under the digital credit underwriting programmes sanctioned over 3.96 lakh MSME loan applications amounting to over Rs 52,300 crore between April 1 and December 31, 2025, the finance ministry said on Monday. The Public Sector Banks (PSBs) had launched the Credit Assessment Model (CAM) based on digital footprints for Micro, Small & Medium Enterprises (MSMEs) in 2025. This credit assessment model leverages the digitally fetched and verifiable data available in the ecosystem and devises automated journeys for MSME Loan appraisal using objective decisioning for all loan applications and model-based limit assessment for both Existing to Bank (ETB) as well as New to Bank (NTB) MSME borrowers, a finance ministry statement said. "Between 1st April and 31st December, 2025, over 3.96 lakh MSME loan applications amounting to more than Rs 52,300 crore have been sanctioned by the Public Sector Banks (PSBs) under the digital credit underwriting programmes," the ministry said

Budget 2026-27: Fertiliser industry seeks duty cuts, subsidy reforms

The Fertiliser Association of India has suggested rationalisation of customs duties on key raw materials, incentives for downstream projects, and bringing urea under the nutrient-based subsidy framework in Union Budget 2026-27. The FAI has demanded exemption or reduction of basic customs duty on inputs such as ammonia, phosphoric acid, sulphuric acid, rock phosphate and sulphur. It has also sought relief from Agriculture Infrastructure and Development Cess, and resolution of issues arising from inverted GST duty structures leading to accumulation of unutilised input tax credit. On the direct tax front, the industry has recommended restoration of weighted deductions for R&D and farmer education, incentives for downstream fertiliser projects, accelerated depreciation for energy-efficient equipment, and easing of compliance and litigation burdens. The FAI has emphasised the need to promote balanced fertilisation to protect soil health, noting that disparities between urea and P&K