Page 2 - Industry News

Bankers' Books Evidence Act 2026 to come into force from October 1

Bankers' Books Evidence Act, 2026 which got assent of the President of India last month, and is aimed at providing a modern framework for the use of banking records as evidence in line with contemporary banking practices, will come into force from October 1. The notification dated September 10 appoints October 1, 2026 as the date on which provisions of the Act will come into force, the finance ministry said in a statement on Friday. The Act adopts a technology-neutral approach by recognising banking records maintained in physical, electronic, digital, virtual, cloud-based and other contemporary forms, it said. It also provides for simplified and standardised certification of banking records, including through manual, digital or electronic signatures. Greater clarity has also been provided on the summoning of bank officials where the bank is not a party to the proceedings, with a "special cause" to be recorded in writing by the court for such summoning, it said. Further, the Centre

Australia challenges India over sugarcane support breaching WTO limits

Australia has sought clarification from India, alleging that its support for sugarcane exceeded the 10 per cent WTO limit in each of the seven years from 2018-19 to 2024-25

India's new industrial revolution happening across six sectors: Jefferies

India's push into space, semiconductors, data centres, electronics, solar and aerospace is creating a new industrial investment cycle, says Jefferies

India joins US-led 6G initiative: How does it fit with Bharat 6G Mission?

India has joined a US-led 6G initiative even as it pursues its own Bharat 6G Mission. What does the new framework cover, and how does it fit with India's existing 6G plans?

Isro's private-sector push: How close is India's space model to Nasa's?

Isro is expanding private-sector participation while retaining core responsibilities. Is its emerging model similar to Nasa's approach?

IIL says NSQ Abhayrab vials were not manufactured by its division

Indian Immunologicals said Abhayrab anti-rabies vaccine vials declared NSQ and misbranded by a government laboratory were not manufactured by its human health division

Auto component suppliers sit on ₹98,000 cr inventory, says report

The automotive component industry has around Rs 98,000 crore locked in inventory, of which Rs 29,000-39,000 crore could potentially be released by improving inventory management, according to a Vector Consulting Group report. The report said the potential working-capital release could include Rs 4,000-5,600 crore within the MSME ecosystem, which accounts for around 80 per cent of auto component manufacturers in the country. According to Vector Consulting Group's white paper, The Broken Flywheel: Building a Future-Ready Automotive Supply Ecosystem, firms adopting consumption-based replenishment approaches typically reduce inventory by 30-40 per cent, based on the consulting firm's implementation experience. The total sample size comprised 21 senior industry executives, with the data collection period from July to August 2026. The study also estimated that India's automotive component MSMEs account for approximately Rs 2.4-2.9 lakh crore in turnover. A 30 per cent improvement in ...

Keralam seeks exclusion of homes, farms, plantations from proposed ESA

Keralam Minister Sunny Joseph said on Saturday that the state would press for the exclusion of inhabited areas, agricultural lands and plantations from the Ecologically Sensitive Area proposed in the Centre's latest draft notification. Speaking to reporters, Joseph said the state was finalising its response to the draft notification issued by the Union Ministry of Environment, Forest and Climate Change on July 27 and would submit its recommendations within the stipulated timeframe. "The Government of Keralam is committed to studying and submitting amendment proposals and protecting the best interests of the state," the Environment minister said. He said the state had recently held detailed discussions with a five-member high-level team of scientists appointed by the Union Environment Ministry to consult states on the issue. The discussions were held under the leadership of Chief Minister V D Satheesan and attended by Joseph, Forest Minister Shibu Baby John, Revenue Minister AP ...

Centre plans overhaul of company filings under Companies Act: 5 key changes

The Centre is consulting stakeholders on a revamp of the filing architecture under the Companies Act, 2013. Here are five changes being considered and what they could mean for companies

Agentic AI could improve corporate cash forecast accuracy to 90%: EY

EY India says treasury teams spend up to 70% of their time on manual work, while agentic AI could improve cash forecast accuracy to as much as 90%

Foreign BFSI firms drive GCC office leasing to record 7.32 mn sq ft: Report

Demand for office space to set up global capability centres (GCCs) in India is driven by foreign banking, financial services and insurance firms, as their gross leasing touched a record 7.32 million sq ft in the January-June period, according to Knight Frank. Interestingly, leasing by foreign IT-ITeS companies to set up GCCs fell 28 per cent to 4.13 million sq ft in the first six months of this year from 5.71 million sq ft in the year-ago period. Real estate consultant Knight Frank India noted that foreign banking, financial services and insurance (BFSI) firms leased 7.32 million sq ft of office space during the first half of this year to set up GCCs across eight major Indian cities, a 70 per cent rise from 4.31 million sq ft a year ago. The eight cities are -- Mumbai, Delhi-NCR, Bengaluru, Pune, Hyderabad, Chennai, Ahmedabad and Kolkata. During January-June 2026, the BFSI sector contributed 36 per cent of the overall leasing of 20.6 million sq ft for GCCs across the leading eight

NTH should become a premier global testing, certification body: Joshi

Union Minister Pralhad Joshi on Saturday called for transforming the National Test House into a premier global testing and certification organisation and stressed the need to expand its capacity in line with India's growing manufacturing sector. Addressing the 115th Foundation Day celebration of the National Test House (NTH) after the inauguration of state-of-the-art NTH building here, Joshi said India was moving towards becoming a global manufacturing hub and needed reliable domestic testing facilities. He also virtually inaugurated several crucial facilities and initiatives across the broader NTH network to expand nationwide testing capabilities and improve accessibility. Joshi claimed that NTH was on the verge of being closed in 2012 but the institution had survived and was moving forward due to the vision of Prime Minister Narendra Modi to create a manufacturing ecosystem in the country. "Quality is the foundation of a strong India," Joshi said, emphasising the importance of ..

Plant-based protein market to reach ₹9,000 cr in 5 yrs: Industry body PBFIA

India's plant-based protein ingredient market is projected to double to Rs 9,000 crore in the next five years, with consumers' preference shifting from calorie-conscious food to targeted nutrition, industry body PBFIA said on Thursday. "The country is witnessing a clear shift from calorie-consciousness to nutritional consciousness, with protein emerging as a key driver of food choices. The plant-based food sector is growing at around 18 per cent annually, significantly ahead of the 7-8 per cent global growth rate, while the plant-protein ingredients market is currently valued at approximately Rs 4,500 crore and is expected to double over the next five years," PBFIA executive director Praveer Srivastava said at 'Fi India and ProPak India 2026'. However, nearly 90 per cent of plant-protein ingredients are currently imported, he said, adding that this offers a huge opportunity for domestic manufacturers. Beyond nutrition, plant-based foods can play an important role in building more ..

PM Surya Ghar: Why govt is tightening tracking of solar generation data

The government has long required generation data from rooftop solar systems. A new MNRE order now tightens inverter-level reporting, requiring daily output data to be shared with the National Portal

Govt mulls random drug tests for all commercial pilots round the year

The civil aviation ministry is looking at the possibility of carrying out psychoactive substance tests for all commercial pilots round the year on a random basis. Civil Aviation Minister K Rammohan Naidu on Tuesday said the Directorate General of Civil Aviation (DGCA) is holding discussions with stakeholders on further strengthening the drug-testing standards of pilots. "Right now, the rules say 10 per cent (drug tests) across the overall pilot network, but just like I said, DGCA is engaging (with stakeholders)... One of the opinions from our side is that everyone has to go through it (drug tests) the (whole) year at a random time. "So, we have to see how all the stakeholders are going to respond to this," the minister said. The issue of possible substance use by pilots has come to the spotlight after an Air India captain of Phuket-Delhi flight involved in a sudden altitude loss incident was tested positive for marijuana. Currently, drug tests for pilots are done on a random ...

Air India seeks $1.5 bn from owners Tata, Singapore Air as losses mount

The carrier and its budget unit Air India Express posted combined losses of $2.33 billion in the fiscal year ended March, more than double the prior year's losses

Celebrity food endorsements under FSSAI scrutiny: What do the rules say?

FSSAI's warning to celebrities has put food endorsements under the lens. Here's what endorsers must check, disclose, and verify before promoting a food product

What is an oligopoly? Which Indian sectors have few dominant players

The Finance Ministry's concern over concentration in India's aviation sector has brought the term "oligopoly" into focus. Here's what it means and which other sectors have similar market structures

About 40% of India's sown area yet to be linked to Farmer IDs: Agri Min

Around 40 per cent of India's net sown area is yet to be linked to Farmer IDs, while most states have not drafted standard operating procedures for cultivator categories

FSSAI issued 150 notices to food brands over misleading ads in recent weeks

Food regulator FSSAI on Saturday informed that it has issued 150 notices to food companies, including major brands Nestle India, PepsiCo and Coca-Cola India, in recent months over misleading advertisements, false claims and non-compliance with labelling regulations. In a social media post, the Food Safety and Standards Authority of India (FSSAI) shared an update on its enforcement action taken against major brands in recent months. "Over 150 notices issued for misleading advertisements, false claims & labelling non-compliances," the FSSAI said. The regulator shared the list of a few major brands against whom action has been taken. These are Nestle India, PepsiCo, Abbott India Ltd, Red Bull India, Danone India, Monster Energy India Pvt Ltd, Hell Energy Pvt Ltd, Mondelez India, Coca-Cola India, Diageo, Pernod Ricard, Ferrero India and Kenvue Inc. In the past few months, the FSSAI said it has taken action against various food business operators (FBOs) for serious violations of its ..