Page 27 - Industry News

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, ..

Adani kicks off next growth phase of Vizhinjam Port with ₹16,000-cr plans

The port has rapidly emerged as a critical transshipment gateway on India's southern coast, benefiting from its natural depth and proximity to major east-west shipping lanes

Indian crew world's most abandoned seafarers in 2025, figures show

Indians are the most abandoned nationality of seafarers for the second consecutive year as 1,125 cases of abandonment were logged at the end of 2025, a UK-headquartered global union of transport workers has found. The International Transport Workers' Federation (ITF) said that abandonment worldwide hit record levels last year as it released new data showing 6,223 seafarers abandoned across 410 ships. The ITF welcomed the Indian government's "blacklisting" measures to protect its seafarers from ships as a result of repeat abandonments and other bad practices. "It's nothing short of a disgrace that, yet again, we are seeing record numbers of seafarers abandoned by unscrupulous ship owners," said David Heindel, Chair of the ITF Seafarers' Section. "Every day, all around the world, seafarers face horrific violations of their human and labour rights, all so that bottom-feeding companies can make a quick buck at their expense. "It's very clear that this is a systemic issue in the indust

Rapido FY25 loss narrows to ₹258 crore; revenue rises 44% to ₹934 crore

Roppen Transportation Services, the parent company of ride-hailing platform Rapido, narrowed its consolidated loss to Rs 258 crore in FY25 from Rs 370 crore a year ago. According to financial data accessed via business intelligence platform Tofler, the Bengaluru-headquartered unicorn's revenue from operations rose to Rs 934.44 crore last fiscal year, reflecting a 44.19 per cent increase compared to Rs 648 crore in FY24. "Rapido has sustained strong operating momentum, driven by higher utilisation across our mobility offerings, sharper cost discipline, and the growing maturity of our platform. "As we scale and expand, our focus remains on sustainable growth, improving unit economics, and strengthening the ecosystem for captains and passengers across markets and categories through varied business models," a Rapido spokesperson said. Rapido plans to initiate its IPO process by the end of 2026. In November 2025, Rapido Co-Founder Aravind Sanka told PTI that the company expects to main

Ahead of Union Budget, industry seeks scrapping of Customs SVB

Ahead of Budget 2026-27, industry urges scrapping Customs SVB, proposing risk-based post-clearance audits to cut delays and compliance costs

ASF Group raises ₹1,250 crore funding for Gurugram office project

Realty firm ASF Group has raised Rs 1,250 crore from Alpha Alternatives to fund its ongoing prime office campus in Gurugram and reduce debt. In a statement on Thursday, the company said it has already received Rs 450 crore in funding from Alpha Alternatives and would get the remaining within the next six months. ASF Group's arm, ASF Insignia SEZ Pvt Ltd, is developing a 50-acre integrated commercial IT office campus at Vatsal Valley, Gurugram. ASF Insignia SEZ and its affiliates have secured a commitment of equity and quasi-equity investment of about Rs 1,250 crore from Mumbai-headquartered Alpha Alternatives. Anil Saraf of ASF Group said, "The investment from Alpha Alternatives reinforces the long-term fundamentals of ASF Insignia campus and our strategy of building an institutionally driven office ecosystem". The focus is on balance sheet strength, asset quality and creating a campus that continues to meet the evolving needs of large enterprises and global capability centres, on

TVS Emerald raises ₹425 crore in equity from IFC for housing projects

Realty firm TVS Emerald has raised Rs 425 crore in equity funding from the International Finance Corporation (IFC) to fund its new housing projects. TVS Emerald is part of the TVS Group. In a statement on Thursday, the company said the investment will be used to develop two upcoming residential projects, which would be launched next fiscal in Chennai and Bengaluru as well as future projects. The company would invest Rs 136 crore in Chennai project and Rs 103 crore in Bangaluru housing project. The rest will be earmarked for additional residential projects to be launched over the next two years. The two upcoming projects in Chennai and Bengaluru would have a combined revenue potential of Rs 4,400 crore. TVS Emerald is engaged in the development of residential projects and self-sustaining communities, with a presence in Chennai and Bengaluru. The company has delivered over 6 million sq ft. of residential developments and has more than 9 million sq ft currently under development.

63SATS bets big on mobile cybersecurity with insurance net in India

With traditional security models unable to control AI-powered cyberattacks, 63SATS Cybertech, part of 63 moons technologies, has built a software platform for smartphone users along with an embedded comprehensive insurance to achieve cybersecurity and a financial safety net across India. The cybersecurity services firm merged software security and cyber insurance in to one active digital defense super app, CYBX, for everyday mobile users. Apart from controlling cyber threats, risks, and frauds, 63SATS Cybertech has also tied up with general insurer ICICI Lombard to provide a financial safety net to its cybersecurity app users. Elaborating on the depth of cybersecurity solutions, 63SATS Cybertech, Joint MD and Joint CEO Srinivas L said Indian smartphone users can now access exchange-grade security coupled with a financial safety net of up to Rs 10 lakh. "With protection offered for more than 100 threats, including covering digital safety, financial frauds, privacy protection, identi

Government may do away with exception for small cars in CAFE 3 norms

Formula tweak under discussion to set lenient targets for vehicles weighing less than 1,229 kg

Niti Aayog suggests ₹6,000 cr VGF, PM-Suryaghar-like scheme for MSMEs

Niti Aayog has proposed a PM-Suryaghar-style capital subsidy scheme and a ₹6,000-crore viability gap funding mechanism to help MSMEs cut energy costs, adopt green power and stay competitive globally

Swelect Energy Systems rebrands, launches NUMERGY energy storage line

SWELECT Energy Systems Ltd on Wednesday unveiled a new brand logo and the tagline 'Powering the World Responsibly' as it seeks to strengthen its presence in solar, energy storage, and integrated energy solutions, a company official said. The Chennai-based company also announced the launch of its NUMERGY product portfolio, a comprehensive range of Battery Energy Storage Systems (BESS) designed to meet the growing demand for reliable power across residential and commercial applications. In a press release, SWELECT Energy Systems Ltd founder and vice chairman R Chellappan said, "Our new identity reflects how far we have come and where we are headed. From building dependable power solutions under Numeric to focusing on clean energy through SWELECT, our core values remain the same-reliability, responsibility, and trust." The new logo and tagline signal a clear strategic direction as the company expands its presence in solar, energy storage, and integrated energy solutions, the release ..

India land area transacted rises in 2025 despite slight drop in deals

Overall, at least 126 land deals involving over 3,772 acres were sealed across the country in 2025, compared with 133 deals spanning 2,514 acres in 2024

India in same group as US, China in AI development: Ashwini Vaishnaw

India, Vaishnaw said, had been ranked third in Stanford's AI preparedness and penetration rankings and second in the AI talent base rankings

Power secretary asks discoms to cut supply costs, rethink coal sourcing

Power secretary Pankaj Agarwal has asked distribution utilities to cut electricity supply costs by securing cheaper coal, rationalising transmission charges and simplifying tariffs, amid concerns over

DoT de-licenses lower 6 GHz band to boost next-generation Wi-Fi services

The de-licensing of the lower 6 GHz band will enable Wi-Fi 6 and Wi-Fi 7 services, supporting faster connectivity, next-generation devices, and data-intensive applications such as gaming, AR and VR

FICCI reappoints GSK Velu as Tamil Nadu State Council chairman for FY26

Industry body FICCI has re-appointed healthcare entrepreneur GSK Velu as Chairman of its Tamil Nadu State Council for 2025-26, marking his fifth straight term at the helm of the council

Indian luxury brands on par with global peers in FY25, shows Tofler data

According to data sourced from business intelligence platform Tofler, global fashion houses like Christian Dior, Hermes, and Gucci have not crossed the ₹500 crore mark when it comes to revenue in FY25