Page 15 - Industry News

Bata India board approves VRS for workers at Hosur manufacturing unit

Bata India Ltd on Thursday said its board has approved the introduction of a Voluntary Retirement Scheme (VRS) for all eligible workers at the Bata Shatak manufacturing unit in Hosur in Tamil Nadu, as part of its ongoing operational restructuring. In a regulatory filing, the footwear major said the VRS is expected to be "mutually beneficial" for both employees and the company. The status of implementation and the financial impact of the scheme will be assessed and disclosed later in line with its materiality policy. Bata India has been consolidating its manufacturing footprint over the years amid cost pressures and changing market dynamics. The company had earlier implemented VRS at multiple units, leading to closures. Its Faridabad unit in Haryana was shut in 2016 after all workmen opted for VRS, while a unit in Karnataka was closed following a VRS implemented in the past. With the proposed VRS at Hosur, Bata India continues to rationalise its factory operations, even as it retain

Three key trends that will shape India's energy trajectory in 2026

India's energy sector in 2026 will be influenced by shifts in crude oil sourcing, the rising share of clean energy and the growing role of private capital in renewables, nuclear power and distribution

Giriraj Singh urges states to adopt investor-friendly textile policies

Union Textiles Minister Giriraj Singh on Thursday said the Centre was working to ensure sustained growth of the sector and urged states to attract greater investments in the segment. Speaking at the inaugural session of the two-day National Textiles Ministers' Conference at Sonapur, on the outskirts of Guwahati, Singh said, "The Union government is working in a steady and balanced manner to harmonise production, exports and sustainability in the textile sector." He said the conference aims to encourage brainstorming, innovation and idea sharing to help build a strong roadmap for strengthening the country's textile industry. Singh urged the textile ministers of states to formulate investor friendly policies, and emphasised the need to attract greater investments at the state level. He expressed hope that the two-day deliberations would help pave the way forward. Textile ministers and senior officials from states and Union Territories (UTs) across the nation will be deliberating on

GST cuts, festival season drive mcap gains at 17 of top 20 listed banks

IDFC First Bank recorded the sharpest increase, with its market cap jumping 43.8 per cent in the quarter, pushing the Mumbai-based lender to 13th place from 17th in the rankings

Rare earth sector may have low-to-medium indigenisation feasibility: CEA

CEA also flags low to medium feasibility for indigenising battery cells & cathode materials and solar wafers & cells

EV retail gathers pace in 2025: PVs lead, 2-wheelers cross 1.2 million mark

Electric passenger vehicle retail rose to 176,817 units in CY25, up from 99,875 units in CY24, translating into growth of 77.04 per cent, according to FADA data

Electronics industry targets 16 products to reduce import dependence

ICEA response to PM's 100-product manufacturing push

AAIB asks DGCA to inspect airlines' safety management systems

Aircraft Accident Investigation Bureau (AAIB), in a probe report into an airprox incident involving two IndiGo planes, has recommended that aviation regulator DGCA carry out an inspection to assess the effectiveness of airlines' safety management systems. In its 35-page final investigation report into the incident that happened in the Delhi airspace on November 17, 2023, the probe agency said that non-adherence to the Standard Operating Procedures (SOP) by the crew of one of the flights was one of the probable reasons for the incident, while the airline's failure to take timely action despite repeated SID-related occurences prior to the particular incident was a contributing factor. Generally, airprox refers to two aircraft coming closer than the permitted distance between them, and Standard Instrument Departure Route (SID) pertains to the route that an aircraft takes from the take-off to the enroute phase. IndiGo's A321 aircraft operating flight IGO2113 from Delhi to Hyderabad and

IndiGo inducts first A321 XLR aircraft for non-stop Delhi-Athens service

Domestic carrier IndiGo on Wednesday received its first Airbus A321 XLR aircraft at the Delhi airport, and will be deployed for non-stop services to Athens from Delhi and Mumbai starting later this month. Of the total order of 40 A321 XLR aircraft, nine are expected to be delivered in the 2026 calendar year. After its first international induction to operate non-stop services to Athens, subsequent aircraft will be deployed on existing routes such as Istanbul, Turkey, and Denpasar, Bali, the airline said. The aircraft that are to be inducted into the fleet later will enable the airline to expand to new long-haul routes in Europe and East Asia, it said. IndiGo is the first Indian carrier to have inducted the long-range variant of the Airbus A321neo in its fleet, and the airline said that the move is a significant step as part of its long-term international expansion strategy. "It is an important milestone as we prepare to redefine long-haul travel for India. The advanced capabilitie

IRB Infra reports 12% jump in toll revenue to ₹7.54 billion in December

IRB Infrastructure and Developers (IRB) has posted a 12 per cent year-on-year rise in its toll revenue to Rs 754 crore in December 2025. The revenue collection stood at Rs 675 crore in the same month last year, IRB said in an exchange filing on Wednesday. The collection includes revenues from two of its InvITs, namely IRB InvIT Fund (Public InvIT) and IRB Infrastructure Trust (Private InvIT), the company added. Of its total 24 assets, IRB MP Expressway in Maharashtra contributed the major share of Rs 170.3 crore to the total revenue collection in December 2025, up from Rs 163.4 crore in December 2024. Contribution of IRB Ahmedabad Vadodara Super Express Tollway rose to Rs 84.1 crore in December 2025 from Rs 70.7 crore a year ago, the second largest in the aggregate toll collection, the filing said. With Rs 78.8 crore, IRB Golconda Expressway (Hyderabad ORR) was the third largest contributor to the revenues in December 2025, up from Rs 71.3 crore last year. Amitabh Murarka, Deputy

Proxy firms back Shriram Finance stake dilution plan in favour of MUFG

Three Proxy advisory firms have supported all three proposals, including stake dilution in favour of Japan-based MUFG Bank, for the Shriram Finance EGM to be held next week. The extraordinary general meeting has been called on January 14 to secure a nod for fund infusion of Rs 39,618 crore or USD 4.4 billion (about Rs 39,600 crore) from MUFG Bank by diluting 20 per cent stake through preferential issue shares. Last month, Japan's Mitsubishi UFJ Financial Group Inc (MUFG) announced its plan to acquire a 20 per cent minority stake in non-bank lender Shriram Finance for Rs 39,618 crore (around USD 4.4 billion), marking the largest cross-border investment in India's financial sector to date. The first two resolutions are the preferential allotment of shares of 20 per cent shareholding to MUFG Bank and the grant of special rights to MUFG Bank. These are special resolutions requiring 75 per cent of votes cast. The third resolution is the USD 200 million non-compete fee being paid by MUFG

Hospitality sector needs reforms, infra status to drive growth: HAI

Hotel Association of India on Wednesday called policymakers to prioritise sector-specific reforms to drive growth and resilience in the hospitality sector, while reiterating demand for infrastructure status and allowing of industry benefits to hotels. Sharing the hospitality industry's expectations in the upcoming Union Budget, Hotel Association of India (HAI) President K B Kachru said the hotel sector should be given due recognition for its significant contribution to GDP, jobs, and foreign exchange earnings. Kachru, who is also Chairman, South Asia, Radisson Hotel Group, urged "policymakers to prioritise sector-specific reforms to drive growth and resilience in the hospitality sector". "The hotel sector should be given due recognition for its significant contribution to GDP, jobs, and foreign exchange earnings. The key policy interventions are according the infrastructure status and allowing industry benefits to hotels," he said in a statement. This will encourage investments in

Nvidia CEO Huang says next generation of chips is in full production

To get the new performance results, however, Huang said the Rubin chips use a proprietary kind of data that the company hopes the wider industry will adopt

Green cave in Chhattisgarh's Bastar district soon to boost tourism

Tourism in the region largely remained unexplored as the route to reach the green cave passes through terrain once controlled by Maoists

Par panel examines impact of US tariff hikes on key Indian industries

The Parliamentary Standing Committee on Commerce is assessing the impact of enhanced tariffs by the United States on the entry of various Indian products and seeks to understand the challenges faced by various sectors. It also seeks to assess the various measures taken by financial institutions, central and state governments to mitigate the adverse effects of US tariffs. The committee members are currently on a study visit to Visakhapatnam, Chennai and Coimbatore from January 6-8 to evaluate India-US trade relations. The committee is chaired by Rajya Sabha MP Dola Sen. In Visakhapatnam, the committee on Tuesday met with stakeholders and state government representatives, focusing on the Indian marine sector. A statement by the committee said the members of the panel interacted with representatives from fisheries, export councils, and financial institutions, and visited the Fishing Harbour and Sea Cages off Ramakrishna beach. On January 7, the committee will travel to Chennai to dis

Saudi cuts crude oil prices again amid growing competing supplies

This comes amid the International Energy Agency forecasting a supply this year of 4 million barrels per day, equivalent to 70 per cent of India's oil demand

Steel stocks under pressure on CCI investigation into price collusion

The news report further suggested that the CCI probe has also held 56 top executives liable for price collusion over varying periods between 2015 and 2023

Indian IT companies in LatAm remain unaffected by Venezuela turmoil

Some of these companies, such as Infosys and Wipro, do not even operate there. While Infosys does not have a presence, Wipro's Venezuelan unit was liquidated many years ago

Big capex challenge: Few sectors left to absorb infra spending push

With roads and railways nearing capacity limits and aviation largely privatised, the government is turning to ports and shipping to sustain its capex push in FY27

Steelmakers rework production, strengthen compliance as CBAM kicks in

Companies secure emissions verification, shift to low carbon routes even as lawyers flag risks for small exporters