Page 16 - Industry News

Geopolitics, AI posing challenges to corporate governance: Industry body

Geopolitical developments, economic volatility, rapid digitalisation, cyber threats and emerging technologies like artificial intelligence are reshaping the global risk landscape for organisations, posing new challenges for traditional governance and control systems, an industry body said on Saturday. The Institute of Internal Auditors (IIA) India's Calcutta Chapter made the observation at its Annual Conference 2026, which brought together internal audit professionals, risk practitioners and industry leaders to deliberate on the expanding role of internal audit in strengthening corporate governance. The conference, held under the theme "Internal Audit: Control-Risk-Governance and Beyond," was formally inaugurated by Krishnan Venugopal, President, IIA India. Neeraj Bansal, Head, India Global, KPMG, attended as the Chief Guest and shared perspectives on evolving global risks, board expectations and the importance of resilient control frameworks. "India is no longer an isolated economy

West Asia crisis: India engages key players to secure energy supplies

Against the backdrop of spiralling hostilities in West Asia, India on Saturday said it has remained in touch with all key players, including the Gulf Cooperation Council, Iran, the US and Israel, with a primary focus on safeguarding its energy security. External Affairs Ministry Spokesperson Randhir Jaiswal said that besides advocating for dialogue and diplomacy, India has consistently underlined the necessity of ensuring the unimpeded transit of goods and energy supplies through the region. Aseem Mahajan, an additional secretary in the ministry, said five Indian nationals have lost their lives and one remains missing in the ongoing conflict. He said around 1,72,000 Indians have returned to India since February 28, the day the hostilities began. "We have also called for avoiding targeting civilian infrastructure, including energy infrastructure, across the region. We believe that these are the priorities of a large part of the global community since the impact of the conflict is bei

Centre amends electricity rules to clarify norms for captive power

The government on Saturday announced amendments in the electricity norms for bringing more clarity for captive power generation, especially for industries, in line with India's energy transition goals. Generating power closer to the point of consumption will help reduce transmission losses, improve system efficiency and strengthen grid resilience, the Ministry of Power said in a statement. The Ministry said that the amendments have been finalised after extensive stakeholder consultations. The Electricity (Amendment) Rules, 2026, have been notified to remove interpretational ambiguities, improve ease of doing business for industry, and align the captive generation framework with India's energy transition and industrial growth objectives. The ministry said that with the amendments, the government has simplified a number of provisions in the rules for ease of compliance. By clarifying ownership provisions, simplifying rules for group captive arrangements, and establishing a clear ...

Karnataka clears ₹4,824 crore industrial projects, to create 14,525 jobs

The Karnataka government has approved industrial projects with a total investment of Rs 4,824.31 crore, that will generate 14,525 new employment opportunities in the state, Industries Minister M B Patil said. The 158th State Level Single Window Approval Committee meeting approved a total investment of Rs 4,824.31 crore for 37 new industries and 2 additional investment projects across 13 districts, including Vijayapura, Bagalkote, Chitradurga, Kolar, and Ramanagara, the minister's office said in a release on Saturday. "The approved projects in sectors such as IT infrastructure, sugar manufacturing, technical textiles, compressed biogas, aerospace, jewellery production, electronics, software, and five-star hotel construction will generate 14,525 new employment opportunities in the state," the release quoted Patil as saying after the meeting on Friday. Among the projects approved, 22 are major large and medium industrial projects (investment above Rs 50 crore) totaling Rs 3,908.68 cror

AC makers flag production risks as LPG shortage worsens amid West Asia war

Air-conditioner makers warn of production risks as LPG shortages linked to the West Asia conflict disrupt supply of fuel used in brazing and coating processes

Gig workers report drop in orders on Zomato, Swiggy amid LPG shortage

West Asia crisis: Cooking gas crunch puts food delivery orders on slow boil

Fixed tenures may be next for upper-layer NBFC chiefs under new norms

Proposal could mirror RBI's 15-year limit for private bank leaders

Clear interpretation key to labour Code success in India's reform journey

The second of the two-part series looks at working hours, employer responsibilities and compliance

Standing Committee flags MDR gap in UPI ecosystem, calls for revenue model

Parliamentary panel urges government to create a sustainable revenue model for the UPI ecosystem, warning that current incentives cover only a fraction of industry costs

SC ruling on Vinp Distilleries restores parity in ethanol procurement: ISMA

The dispute arose after Vinp approached the High Court seeking higher allocation under its long-term offtake agreement (LTOA) in the OMC tender for the 2025-26 ethanol supply year

Exporters' body urges govt to ensure LPG, gas supply for manufacturers

Exporters' body FIEO on Thursday urged the government to allocate LPG and natural gas to export-oriented manufacturing units on a priority basis, as any disruptions in the fuel availability will create problems in maintaining production schedules. Federation of Indian Export Organisations (FIEO) President S C Ralhan said that he has written a letter in this regard to the commerce and industry ministry. "Manufacturing exporters are facing issues. There is an urgent need for priority allocation of LPG/natural gas as fuel for export-oriented units (EOUs) and export-oriented SMEs," Ralhan said. The West Asia crisis, triggered by the launch of a joint attack by the US and Israel on Iran, has disrupted energy supplies in several countries. The government has revised the priority order for allocating domestically produced natural gas, placing LPG production alongside CNG and piped cooking gas at the top. He said that export-oriented manufacturing units are operating in a highly competitiv

FSSAI pushes for QR codes on plant-based food labels to boost transparency

Food safety authority FSSAI on Wednesday urged plant-based food manufacturers to adopt QR codes on product labels, saying existing labels are too small for consumers to read, as the regulator seeks to build trust in a rapidly growing sector. Food Safety and Standards Authority of India (FSSAI) Chief Executive Officer Rajit Punhani, speaking at the 4th Plant-Based Foods Summit, said the authority was not looking to make QR codes mandatory, but wanted companies to voluntarily adopt the technology so younger consumers could scan and verify ingredient lists and nutritional content. "The label is too small, it's difficult to read and difficult to comprehend," Punhani said, adding that Gen Z consumers in particular could benefit from being able to scan codes to check daily nutritional requirements. Punhani acknowledged that the regulator faced conflicting pressures from the food industry and the medical community over the health merits of plant-based diets, and said misinformation on soci

Moody's warns of margin, cash-flow pressures for Indian fuel retailers

State-owned fuel retailers Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) absorbing the impact of elevated global energy prices will lead to heightened margin and cash-flow volatility, Moody's Ratings said on Wednesday. "Domestic retail prices of fuels have remained largely steady since April 2022, despite swings in global oil and gas prices and the country's high dependence on imports," Moody's said in a note. "The companies will bear rising input costs from higher energy prices without corresponding increases in selling prices because the government's influence over retail pricing prevents timely cost pass-throughs." The three firms control nearly 90 per cent of retail fuel outlets in the country. Global benchmark Brent crude rose sharply and hit a high of USD 119 per barrel on March 9 before settling just under USD 90 the following day, reflecting a heightened geopolitical risk premium. However, retail pump r

Centre to leverage digital infra to optimise food, fertiliser subsidies

Government plans to use AgriStack and CBDC-based pilots to better target fertiliser and food subsidies, reduce leakages, and improve transparency in welfare delivery systems

Banking sector to maintain strong growth over the next two years: ICRA

Profitability in the banking sector is expected to remain healthy, supported by stronger core earnings

India wheat output seen increasing 2% to record 120.21 MT 2025-26

India's wheat production is estimated at a record 120.21 million tonnes in the 2025-26 crop year, up 2 per cent from 117.94 million tonnes in the previous year, government data showed on Tuesday. Wheat, a major rabi (summer) crop, is beginning to be harvested and is expected to pick up pace in key growing states in the coming weeks. Total rabi crop production is estimated to rise 3.16 per cent to 174.51 million tonnes in 2025-26 from 169.16 million tonnes a year earlier, the agriculture ministry said in its second advance estimate. Pulses output is projected to grow 7 per cent to 16.24 million tonnes in the rabi season of 2025-26 from 15.23 million tonnes a year ago, as the country looks to narrow a demand-supply gap that has left the country dependent on imports. Gram production was pegged slightly higher at 11.79 million tonnes against 11.11 million tonnes, while lentil output was estimated at 1.73 million tonnes versus 1.65 million tonnes. However, urad output is seen lower at

India's hiring outlook hits record high for April-June quarter: Report

Indian employers reported a strengthening of hiring intentions for the April-June quarter of this year, supported by surging business confidence and resilient domestic demand, a survey said on Tuesday. According to ManpowerGroup's latest Employment Outlook Survey, the Net Employment Outlook (NEO) for Q2 2026 hit a record high of 68 per cent, up 17 points from the previous quarter and rising 24 points year-over-year. The Net Employment Outlook (NEO) is derived by taking the percentage of employers anticipating an increase in hiring activity and subtracting from this the percentage of employers expecting a decrease in hiring activity. The Employment Outlook Survey was of more than 3,000 employers across India, conducted from January 1 to February 3, 2026. As per the report, the combination of Goods and Services Tax (GST) reforms and strong economic growth projections for 2026 provides a solid foundation for businesses. Furthermore, improving trade prospects, such as India-EU agreeme

Global fertiliser prices may strain India's subsidy maths for next year

The subsidy burden might rise as retail rates of major fertiliser such as urea and DAP has to kept fixed to support farmers while import cost and cost of domestic production will go up

Centre plans major push to train allied health professionals, caregivers

Addressing the concluding session of the webinar, Dr VK Paul, member (health) at government think tank NITI Aayog said that the strategic way forward includes strengthening existing institutions

LPG constraints: India's auto industry braces for impact on production

Siam asks MoPNG to give clarity on availability