Page 18 - Industry News

Renault aims to lift India market share to 3-5% by 2030, says CEO

French automaker Renault is eyeing a market share of 3-5 per cent in the Indian passenger vehicle segment by 2030, led by new product launches and sales network expansion, according to a top company executive. The company currently sells three models in the market -- Kwid, Kiger, and Triber -- and has also unveiled the new Duster with deliveries expected to begin in April this year. The automaker's market share has slipped below 1 per cent in the over 43 lakh strong passenger vehicle segment. "If we do our job well, by 2030 we should get between 3-5 per cent market share, that's our goal," Renault brand CEO and Chief Growth Officer Fabrice Cambolive told PTI in an interaction. "We would not like to communicate today about the new cars, but we will increase the number of models here in India, because the market is big and there are a lot of growing segments," he added. The market share improvement would depend upon the level of competitiveness the automaker is able to achieve as th

Tata Power bets big on home automation, targets mass adoption across India

Tata Power is expanding its footprint in the home automation space, relying on rising mass acceptance of Internet of Things (IoT)-based products, a senior company official said here on Tuesday. The power major, which forayed into the retail home automation segment last year, is targeting one crore households with IoT-enabled converters and other products as part of a rapid expansion strategy, its renewable and automation head Kaushik Sanyal said. "We are growing at around 60 per cent, but growth will be unprecedented with this device. My aim is to take this to one crore households," Sanyal said at the launch of the company's EZ Home Automation Solutions in Kolkata. Tata Power currently operates in nine cities and plans to expand to 100 cities within three years, he said. Sanyal said the segment is poised for phenomenal growth, amid rising aspirations among Indian households to automate homes at affordable price points, driven by increasing awareness around safety, convenience and .

India-EU FTA to boost Indian pharma exports, improve EU market access

Lower tariffs under the India-EU free trade agreement will significantly strengthen the position of Indian formulations, APIs, and value-added medicines in the European Union, Pharmexcil Chairman Namit Joshi said on Tuesday. For the domestic pharmaceutical sector, the agreement delivers structural competitiveness, he stated. "Near-zero tariff access significantly strengthens the position of Indian formulations, APIs, and value-added medicines in the EU, a development that is particularly consequential for India's pharma MSMEs, many of whom possess strong quality capabilities, but face cost and access barriers in highly regulated markets," Joshi said in a statement. Reduced tariffs and smoother market entry will directly enhance their ability to scale exports, invest in compliance, and integrate into European supply chains, he added. "Crucially, this agreement enables stable, long-term, and predictable pharmaceutical trade, benefiting European healthcare systems and consumers throug

India-EU FTA a game-changer for trade, investment in EU market: Industry

The "game-changer" free trade agreement (FTA) between India and the European Union (EU) is set to unlock significant trade and investment opportunities for the country in the high-potential market of the 27-nation bloc, which remained untapped and boost India's export competitiveness, industry bodies said on Tuesday. The European Union and India on Tuesday announced the conclusion of negotiations for the free trade agreement (FTA) here. CII Director General Chandrajit Banerjee said the landmark agreement represents a strategic breakthrough in India's global trade engagement and significantly deepens the partnership between two major democracies and economies that together account for nearly 25 per cent of global GDP. "The unprecedented preferential access secured for over 99 per cent of Indian exports is a game-changer for Indian industry. It decisively improves competitiveness in the EU's high-value market, anchors Indian manufacturers and service providers deeper into global value

Delhi govt to provide ₹10 crore collateral-free loans for entrepreneurs

The Delhi government on Tuesday signed an MoU with central government entity CGTMSE to provide collateral-free loans up to Rs 10 crore to city-based entrepreneurs. Speaking at the signing of the MoU, Delhi Chief Minister Rekha Gupta termed the move as an important step towards financial empowerment to achieve the goal of a "Viksit Delhi". She said the Delhi government has set aside a fund of Rs 50 crore to service loans worth Rs 2,500 crore without the need of any collateral. She said there was no cap on the number of beneficiaries even as an initial target of one lakh was set initially. She said under the scheme, the Centre will extend 75-90 per cent guarantee to cover the loan amounts and the remaining guarantee will be provided by the Delhi government. It will cover all sectors, including manufacturing, service, and retail, she said, adding that the Delhi government has set 10 per cent as non-performing assets (NPA) limit to keep its financial liability in check. "There are lak

Aviation reforms in focus as India air show attracts global players

Analysts and industry executives will be looking for signals from government ​officials at the show on how India plans to ease airspace congestion in major cities

Hindalco announces major ₹21,000-crore aluminium smelter expansion plan

Hindalco said it planned to invest ₹ 21,000 crore in a smelter expansion with a capacity of 360,000 tonnes per annum at its Aditya Aluminium complex in Sambalpur

India needs $145 billion per year to fund energy transition: WoodMac

India will need to mobilise average annual investments of about USD 145 billion in its energy sector to bridge the gap between sustained economic growth and its net-zero ambitions, Wood Mackenzie said on Tuesday, outlining a critical pathway to maintain around 6 per cent GDP growth through 2035 while advancing the energy transition. Speaking at India Energy Week 2026, Joshua Ngu, Vice Chairman, Asia Pacific at Wood Mackenzie, said capital deployment must be strategically focused on power generation, energy storage and urgent grid modernisation to support India's expanding economy and decarbonisation goals. "India's next decade is decisive," Ngu said. "The challenge is a dual mandate: India must de-risk its immediate energy security while simultaneously building the low-carbon architecture required to support a top-tier global economy. Today's investment choices will determine whether the country locks in carbon-intensive infrastructure or leads the world in low-carbon ...

DFS seeks states' support to ensure banking ops during Jan 27 bank strike

The DFS said banks have conveyed that ATMs are being adequately loaded with sufficient cash, and arrangements have been made to ensure timely replenishment

Private-sector capex tumbles for second straight quarter in Q3FY26

New government investment projects rose 26.5% quarter-on-quarter to hit ₹5.64 trillion in Q3, lifting the public sector's share of new proposals to nearly 36% from under 30% in Q2

India Energy Week kickstarts in Goa on Tuesday amid geopolitical turmoil

The country is hosting the fourth edition of IEW, bringing global energy ministers, industry leaders, policymakers, financial institutions, academia and technology providers on a common platform

E2W companies seek PM E-Drive subsidy extension beyond March 2026

Industry executives say incentives continue to play a role in easing upfront cost concerns for price-sensitive buyers

Global firms take 58% share of office leasing in 7 Indian cities: Report

Global companies remained major demand driver for office space in India during 2025 as they leased nearly 60 per cent of ofifce spaces in India's seven major cities to expand their businesses, according to JLL India. According to data by real estate consultant JLL India, the gross leasing of office spaces rose by 8 per cent to record 83.3 million square feet last year across seven major cities from 77.2 million square feet in the preceding year. These seven cities are Mumbai, Bengaluru, Delhi-NCR, Pune, Hyderabad, Chennai and Kolkata. Out of the total leasing, the global firms took on lease 48.6 million square feet office last year, contributing 58 per cent to the total office demand. Availability of skilled English speaking talent and supply of premium office space at a very affordable rentals are the major factors that attract global firms to invest in India. Global firms took 31.4 million square feet area for setting up of Global Capability Centres (GCCs). Domestic firms absor

HFCL, ITI roll out India-made network routers for BharatNet project

Domestic telecom gear maker HFCL has started first large scale deployment of indigenously designed and manufactured network routers in collaboration with state-run ITI for BharatNet project, the company said. India's network router market is currently dominated by US companies after Chinese gears were restricted by the government under telecom security rules. "In a groundbreaking development at Rouri Gram Panchayat in Solan district, Himachal Pradesh, HFCL's domestically designed and manufactured IP/MPLS routers have been successfully deployed by ITI Limited, enabling Fiber-to-the-Home (FTTH) connectivity to rural subscribers. This marks the first time in India's telecommunications history that indigenous routing technology has been used to deliver broadband services to consumers," HFCL Managing Director Mahendra Nahata told PTI. The company has bagged orders for deploying over 80,000 network routers under the government's rural broadband project BharatNet. BharatNet is the world's

Banking ops to be hit on Tuesday as unions strike for 5-day work week

Banking operations of public sector banks across the country are likely to be impacted on Tuesday with the United Forum of Bank Unions (UFBU) deciding to go ahead with a nationwide strike on January 27 to press for the immediate implementation of a five-day work week. The strike call by the UFBU, an umbrella body of nine unions representing officers and employees, comes after a conciliation meeting on January 23 with the chief labour commissioner failed to yield a positive outcome. With banks remaining closed on January 25 (Sun) and January 26 (Republic Day), the strike on Tuesday will result in a disruption of branch-level services for three consecutive days. "Despite detailed discussions during the conciliation proceedings, there was no assurance on our demand. Hence, we have been compelled to proceed with the strike action," All India Bank Employees Association (AIBEA), a constituent of UFBU, General Secretary C H Venkatachalam told PTI. All India Bank Officers' Confederation ..

APTRANSCO to complete 55 transmission projects worth over ₹9,000 crore

Transmission Corporation of Andhra Pradesh Ltd has set an ambitious target to complete around 55 major transmission projects worth over Rs 9,000 crore, said an official on Monday. Transmission Corporation of Andhra Pradesh Ltd (APTRANSCO) joint managing director G Surya Sai Praveenchand said 8,853 MVA of transmission capacity and 1,558 circuit km of transmission lines will be added to the state grid. "APTRANSCO has set an ambitious target to complete around 55 major transmission projects worth Rs 9,319.30 crore, which will add 8,853 MVA of transformation capacity and 1,558 circuit km of transmission lines to the state grid," he said while commemorating the 77th Republic Day at Vidyut Soudha in Vijayawada. According to the joint managing director, new 400/220/132 kv substations are being developed at strategic locations in Kakinada SEZ, Achutapuram, Gudivada and Ainavalli for supplying reliable power. He observed that Andhra Pradesh power utilities have accorded top priority to ...

Shedding China baggage, India's luggage brands unpack manufacturing at home

A quiet supply-chain reset is underway as travel habits change and indigenous brands gain support

Directors' cut: Bank board reform hangs in balance amid governance rethink

As the banking landscape grows more complex, board oversight requires urgent finetuning. Expect Mint Road to tighten governance frameworks

Embassy Developments pre-sales to jump 2.5-fold to ₹5,000 crore

Realty firm Embassy Developments Ltd's sales bookings will jump two-and-a-half times to Rs 5,000 crore this fiscal on strong housing demand, a top company official said. In an interview with PTI, Embassy Developments Ltd (EDL) Managing Director Aditya Virwani noted that the company's business activities have now gathered pace after the takeover of Indiabulls Real Estate (IBREL). "We have sold properties worth about Rs 2,000 crore in the first nine months of this fiscal," he said. Virwani expressed confidence that the company would be able to sell housing properties worth Rs 3,000 crore during the current quarter with the help of new launches of residential properties in Mumbai Metropolitan Region (MMR) as well as sustenance sales in the existing projects. Embassy Developments clocked sales of Rs 2,031 crore last fiscal as against Rs 1,838 crore in 2023-24. Virwani said the company is now completely focusing on completing a few legacy housing projects and also launching new ...

PM Modi urges industry, start-ups to prioritise quality in Indian products

Prime Minister Narendra Modi on Sunday urged industry and start-ups to focus on quality and resolve to make excellence a benchmark in manufacturing. In his monthly 'Mann ki Baat' radio address, Modi said Indian products should be synonymous with top quality and urged the industry to manufacture zero-defect products. "Let us resolve to improve the quality of whatever we manufacture. Be it our textiles, technology, electronics or even packaging; an Indian product should become synonymous with top quality," the prime minister said in his 130th Mann ki Baat address. He also lauded the efforts of youngsters who participated enthusiastically in India's start-up journey that began 10 years ago in 2016. "Today India has turned into the third largest start-up ecosystem in the world. These start ups are out of the box; they are working in sectors that were unimaginable even 10 years ago," Modi said. The prime minister said Indian start-ups are working in sectors as diverse as AI, space, ..