Page 22 - Industry News

Power sector set for AI-driven shift as CAG plans major audit framework

CAG K Sanjay Murthy says AI and data analytics are reshaping the power sector and highlights upcoming audits on discom performance, PM Surya Ghar and regulatory challenges

CCPA fines Vajirao & Reddy ₹15 lakh for misleading UPSC ads again

The Central Consumer Protection Authority (CCPA) has imposed a penalty of Rs 15 lakh on Delhi-based coaching institute Vajirao and Reddy Institute for publishing misleading advertisements claiming credit for candidates who cleared the UPSC Civil Services Examination 2023, many of whom had enrolled only for mock interview sessions. The institute had claimed on its official website, shortly after results were declared on April 16, 2024, that it had produced "over 645 selections out of 1,016 vacancies", with "6 in Top 10 AIR" and "35 in Top 50 AIR". These claims appeared alongside advertisements for its regular courses, creating the impression that successful candidates had been trained by the institute through all three stages -- Preliminary, Mains, and Interview. The CCPA found this to be a deliberate misrepresentation. On examining enrolment records submitted by the institute, the authority found that a significant number of candidates had signed up only for the "Interview Guidance

Nexus Select Trust buys 50% stake in Runwal Enterprises mall for ₹434 cr

Realty firm Nexus Select Trust will acquire 50 per cent stake in an upcoming mall in Mumbai for Rs 434 crore as part of its expansion plan. In a regulatory filing on Monday, Nexus Select Trust, a REIT sponsored by Blackstone, said it has entered into a tie-up for an under-construction development. "The REIT has agreed to acquire a 50 per cent stake in the upcoming Nexus Runwal Gardens Mall in Dombivli, part of the Mumbai Metropolitan Region (MMR), to be operated in partnership with Runwal Enterprises," the filing said. The proposed mall will span 7.4 lakh sq ft of gross leasing area. Nexus Select Trust will acquire 50 per cent equity shareholding in the Garden City Malls Pvt Ltd, a wholly owned subsidiary of M/s. Runwal Residency Pvt Ltd. "Purchase consideration of Rs 434 crore with an overall enterprise value of Rs 892 crore (includes estimated closing costs), subject to closing adjustments. Based on estimated 4,67,000 sq ft net leasable area," the filing said. Nexus Select Trus

Will fund part of costs for micro, small exporters under EPM: Goyal

The government will fund a large part of the costs incurred by micro and small exporters to obtain international approvals for complying with regulations such as REACH and CBAM in Europe to help them boost shipments, Commerce and Industry Minister Piyush Goyal said on Monday. The support is being extended to these exporters under the Rs 25,060 crore export promotion mission (EPM). Under the mission's Trade Regulations, Accreditation and Compliance Enablement (TRACE) measure, support will be extended to exporters in meeting international testing, inspections, certifications and other conformity requirements. Partial reimbursement of up to 75 per cent will be provided for eligible testing, inspection and certification expenses, subject to an annual ceiling of Rs 25 lakh per IEC (importer-exporter code). "In the export promotion mission, we have provided funds so that wherever you require to get approvals internationally, particularly for micro and small units, the government will fun

Bharti Airtel plans to invest ₹20,000 crore to expand digital lending

Telecom major Bharti Airtel said on Monday it plans to inject ₹20,000 crore ($2.2 billion) into its financial arm over the next few years, marking a major push into digital lending

Increasing use of AI, data analytics strengthening power sector: CAG Murthy

Comptroller and Auditor General (CAG) K Sanjay Murthy on Monday said with the increasing use of artificial intelligence and big data analytics in the power sector, the capacity to tackle inherent complexities in the sector is getting strengthened. Addressing the National Conference on Power Sector here, the CAG also said it is important for the entire power sector that operational efficiencies and financial sustainability of DISCOMs are enhanced and strengthened through focused and sustained efforts. Since last decade, Murthy said the power sector has achieved a lot as the generation has gone up from 1,168 BU in 2015-16 to 1,824 BU in 2025-26. The sources from which this power is being generated have also undergone major change as the shift to green energy has been increasingly gaining focus which is evident from the rise in its share from 6 per cent to 24 per cent, he said. He also noted that that the transmission network has been augmented by more than 70 per cent and it has ...

SBI invests in startup-focused funds to boost India's MSME ecosystem: MD

State Bank of India (SBI) is actively investing in startup-focused funds and financial market infrastructure through direct equity participation as part of its MSME strategy, a top official said on Saturday. "We have been actively investing in startup-focused funds and financial market infrastructure through direct equity participation and schemes like Startup India, and banks in startup-intensive branches and business centres," SBI managing director Ravi Ranjan said while addressing the 'India by MSME' event of UGRO Capital in Mumbai. Highlighting the role of startups, he said, "As a code for the entrepreneurial spirit sweeping the new India, the startups are pivotal in accelerating MSME credit by driving innovation, fostering internet adoption, and creating basic employment and population scale with unicorns boosting technology governance, facilitating economic expansion for MSMEs." He further said the bank has started a startup hub in different cities and unmatched skill and ...

Pharma exports rise 9.4% in FY25; industry eyes double-digit growth

The commerce ministry on Saturday said the country's pharma exports grew 9.4 per cent in 2024-25 to USD 30.47 billion and the industry is aiming for a double-digit expansion in 2026-27. Issues pertaining to pharmaceuticals exports were discussed between the government officials and industry during Chintan Shivir in Ahmedabad. The sector, currently valued around USD 60 billion, is projected to reach USD 130 billion by 2030. India ranks third globally by volume, with medicines exported to over 200 markets, and more than 60 per cent of exports destined for stringent regulatory markets. The US accounts for 34 per cent and Europe for 19 per cent of India's pharmaceutical exports. "The interaction underlined the government's focus on enabling conditions for sustained export acceleration, with industry indicating readiness to target double-digit growth in 2026-27," it said. It added that exporters were also apprised of opportunities arising from recent trade engagements with key partner

Andhra Pradesh to host energy 'Investment Bazar' in Vijayawada on Feb 24

Andhra Pradesh Chief Secretary K Vijayanand on Saturday said an Investment Bazar will be organised in Vijayawada on February 24 to promote energy efficiency investments in the state. The Chief Secretary conducted a virtual meeting with officials of Andhra Pradesh Eastern Power Distribution Company Limited (APEPDCL), Andhra Pradesh Central Power Distribution Corporation Limited (APCPDCL), Andhra Pradesh Southern Power Distribution Company Limited (APSPDCL), Andhra Pradesh Power Generation Corporation Limited (APGENCO) and Andhra Pradesh Transmission Corporation Limited (APTRANSCO) to review preparedness for the workshop. "An Investment Bazar will be organised in Vijayawada on February 24 to promote energy efficiency investments and strengthen the sector across Andhra Pradesh," said Vijayanand in an official press release. Having secured the "top national rank in energy conservation", Andhra Pradesh is strengthening policy frameworks and innovative financing models to attract ...

NCLT clears withdrawal of insolvency proceedings against Mahagun

The decision follows the company's settlement with IDBI Trusteeship Services; the NCLT order further records that all pending applications in the matter stand disposed of

India's core sector eases to 4% in Jan; steel, cement remain bright spots

India's core sector growth eased to 4% in January, with most industries slowing except steel and cement, while analysts say the trends reflect strong construction and infrastructure activity

New labour codes raise Nifty 100 firms' wage bills by ₹17.6K crore

IT, banking, aviation take biggest hit in Q3; 73 of 96 firms already counting the cost

CoalMin proposes revised timelines to speed up mine operationalisation

Draft amendments to mining agreements introduce stricter milestone schedules and performance security provisions to fast-track commercial and captive coal mine development

Shivraj Singh Chouhan calls for making tree plantation a mass movement

Chouhan started the initiative on February 19, 2021, on Narmada Jayanti. He had planted saplings of 'Rudraksha' and 'Sal' at Amarkantak to mark the occasion

Rare earth permanent magnet production to begin by year-end: Minister

Four states identified for mineral processing parks as India prepares to begin rare-earth magnet production; Canada seeks joint ventures across critical minerals value chain

Air India's aircraft fleet reliability has improved: CEO Campbell Wilson

Air India CEO Campbell Wilson on Thursday said that the airline's fleet reliability has improved and there is also an increased inventory of spares and components. The Tata Group-owned airline has faced issues with its legacy fleet of wide-body Boeing 777s and 787 planes, resulting in flight cancellations and delays. The upgradation of the legacy Boeing 787s has commenced. During a town hall with employees on Thursday, Wilson said operational resilience is one of the airline's focus areas and that there is enhanced fleet reliability now. Both legacy Boeing fleets continue to show improvements as more reliability upgrades are carried out, he said, adding that the inventory of spares and components has gone up. The airline has been doing replacement and upgrade of components to ensure that the aircraft are more reliable. The CEO and MD of the airline also said that over 50 per cent of its wide-body fleet would be modernised by the end of 2026, while the wide-body modernisation is ..

Aluminium long-term fundamentals constructive: Kotak Institutional Equities

Aluminium prices have dropped 6 per cent to $3,056 a tonne from their recent peak of $3,252 on the London Metal Exchange

GalaxEye's OptoSAR satellite to use AI for Earth data analysis

Bengaluru-based private space technology company GalaxEye's upcoming satellite mission, Mission Drishti, will feature NVIDIA Jetson Orin, a powerful compact computer designed to run complex artificial intelligence models, officials said on Wednesday. It will help the satellite accelerate processing and interpretation of Earth observation data in space, and quickly deliver the data to its customers. In a statement, GalaxEye CEO Suyash Singh said, "Taking NVIDIA Jetson Orin to space aboard Mission Drishti is a defining milestone for GalaxEye. Building on our successful in-space demonstration in 2024, we're advancing to next-generation of Earth observation satellites." Mission Drishti will also carry what GalaxEye calls the world's first SyncFused OptoSAR architecture, which integrates Electro-Optical (EO) and Synthetic Aperture Radar (SAR) sensors on a single satellite platform. While EO sensors capture high-resolution images during sunlight and clear skies, SAR sensors provide ...

India must shift from tech services to IP-led nation: HCL's Roshni Nadar

India's technology sector must transition from scale-driven growth to an AI-focused, intelligence-led, and Intellectual Property (IP)-driven model, said Roshni Nadar Malhotra, the chairperson of HCL Technologies, on Thursday. "India must move from being a tech services-led nation to an IP-led nation; services scale with effort. IP scales infinitely," she said while speaking at the AI Impact Summit 2026. She said that future belongs not to those who merely deploy technology, but to those who build, own and shape platforms, models and products. "In the AI economy, value accrues to those who build and own platforms, models and products, not just those who deploy them. That shift is not only economic, it is transformative," she added. Malhotra, who consistently features on the Forbes World's 100 Most Powerful Women list, said that AI carries a dual impact-- it reduces costs through automation while expanding new markets and opportunities. For India to lead in the AI economy, three ...

India may attract $200 bn in data centre investment by 2030: Deloitte

Deloitte says India could see transformative data centre growth supported by policy and renewables, but warns that power supply, grid stability and planning gaps may constrain expansion