Page 42 - Industry News

High-growth segments, acquisition to drive gains for Torrent Pharma

Led by the India business and rest-of-the-world markets, the company reported a robust 14.3 per cent year-on-year (Y-o-Y) growth in revenues

IN-SPACe, SIDBI Venture Capital sign ₹1,000 cr space sector fund deal

IN-SPACe and SIDBI Venture Capital have signed a contribution agreement to operationalise the Rs 1,000 crore venture capital fund aimed at boosting innovation and private participation in space sector

Shailesh Chandra becomes first Indian to head global auto body OICA

Chandra becomes the first Indian to head OICA, marking a significant milestone for India's presence in global automotive decision-making

India's spirits industry braces up cautiously ahead of UK FTA ratification

With tariff cuts under the UK-India FTA, spirit producers expect faster growth, price access, and stiffer competition in premium whisky

Hackathon way of hiring: IT firms seek engineers with practical skills

Real-world problem-solving events are replacing conventional placements, giving IT firms a stage to recruit engineers for their practical skills

AAI to take charge of Naini Saini airport; MoU signed in Modi's presence

The Airports Authority of India (AAI) and the Uttarakhand government on Sunday signed a Memorandum of Understanding for the acquisition of Naini Saini Airport in the presence of Prime Minister Narendra Modi. According to officials, the "historic" agreement is a step towards providing smooth, safe, and sustainable air connectivity to the mountainous region of Uttarakhand. Located in Pithoragarh district, Naini Saini Airport spans approximately 70 acres and has a terminal building capable of handling 40 passengers during peak hours. The airport apron can also accommodate two aircraft at a time. With the acquisition, AAI will undertake the upgradation of the airport's infrastructure and streamlining of operational standards, which will lead to significant improvement in the regional connectivity of the state, officials said. The development of the airport will provide a new impetus to Uttarakhand's local art, cultural heritage, and tourism sector. It will also open up new opportunitie

India's top six cities record 26% rise in new office supply; Pune leads

India's top six cities witnessed a 26 per cent annual growth in new supply of office spaces during the September quarter to 16.1 million sq ft as developers look to encash strong demand of premium workspaces from global and domestic firms, according to Vestian. US-based real estate consultant Vestian data showed that the new supply of office space was the highest in Pune at 3.70 million sq ft during the July-September period, an increase of 164 per cent from the year-ago period. In Delhi-NCR, the new office supply increased 35 per cent to 3.10 million sq ft. The fresh supply of office space in Chennai jumped 320 per cent to 2.1 million sq ft, while the supply doubled in Mumbai to 1.80 million sq ft. However, Bengaluru, the biggest office market in India, witnessed a 6 per cent drop in new office supply to 3.40 million sq ft. In Hyderabad, too, the new supply fell 51 per cent to 2 million sq ft during July-September period of this calendar year. Interestingly, Kolkata, the seventh

IIBX eyes over $12 bn forex flow in FY26 from gold and silver contracts

India International Bullion Exchange eyes sharp growth in gold and silver contracts, boosting foreign exchange inflows through GIFT City

Tiger Global offloads entire 5.09% Ather Energy stake for ₹1,204 crore

Tiger Global has sold its entire 5.09% stake in Ather Energy for ₹1,204 crore, exiting months after the EV maker's IPO even as the company's valuation nearly doubled to ₹24,800 crore

Vanguard opens Global Value Center in Hyderabad, boosting tech innovation

Vanguard, one of the world's largest asset management companies, launched its Global Value Centre in Hyderabad, reinforcing the city's status as a global hub for financial innovation

The slow energy switch: IOC, BPCL, HPCL need faster ride to net-zero goals

Given their outsized contribution to air pollution & net-zero targets, state-run oil firms must accelerate cuts in greenhouse gas emissions. The country's hobbling renewable projects may delay plans

IBC vs PMLA: Resolution professionals hope for timely resolution

The IBBI circular allows resolution professionals to seek restitution of assets attached under PMLA, but experts say its success depends on timely court orders and clear legal backing

NCLAT declines to delete NCLT remarks on Gensol insolvency professional

The appellate tribunal upheld Gensol's insolvency admission but said remarks against insolvency professional Pulkit Gupta should not be treated as adverse findings on his conduct or integrity

Adani's Kutch Copper inks MoU with Caravel Minerals for Australia project

The partnership gives Kutch Copper access to up to 100% of output from Caravel's Western Australia project, strengthening India-Australia supply chains in critical minerals

NPPA fixes retail price of 28 drugs, ceiling price of six formulations

The National Pharmaceutical Pricing Authority has revised retail prices of 28 formulations and capped ceiling prices for six drugs under the National List of Essential Medicines

IFAT urges govt to implement social security framework for gig workers

Indian Federation of App-based Transport Workers (IFAT) has urged Labour Minister Mansukh Mandaviya for immediate implementation of social security framework for gig and platform workers under the Code on Social Security (CoSS), 2020. IFAT stated in a letter to Mandaviya earlier this week, that more than 2 crore app-based workers, including drivers, delivery personnel, and home-service providers, continue to work without formal rights, minimum safety nets, or institutional support, even though they form the backbone of India's growing digital economy. According to the IFAT letter, the CoSS, 2020 was the first legislation in India to formally recognise gig and platform workers and provide a statutory framework for their welfare, including life and disability cover, accident insurance, health and maternity benefits, and old-age protection. However, even after five years of this major reform, no concrete welfare scheme has been operationalised, leaving gig and platform workers without

Seafood sector eyes value addition, new markets amid rising US tariffs

Exports to the US, India's largest seafood market, fell nearly six per cent in April-September 2025, while shipments to China, Vietnam, and Thailand surged, indicating a shift towards Asian markets, Dr Ram Mohan, director of Marine Products Export Development Authority, said. He said this at an industry meet held on the sidelines of the fourth International Symposium on Marine Ecosystems (MECOS 4) at the ICAR-Central Marine Fisheries Research Institute (CMFRI), according to a press release issued on Wednesday. The meeting, coordinated by Dr Joe K Kizhakudan, said that India's seafood export sector is facing a major setback following the recent US tariff. Industry leaders and policymakers called for urgent market diversification, enhanced value addition, and technology-driven innovation to sustain the country's seafood trade. "Combined with anti-dumping and countervailing duties, the effective tariff now stands at 58.26 per cent, severely denting India's competitiveness in its top .

A91 Partners backs Spacewood with Rs 300-crore investment from third fund

The investment from A91 Partners' $665-million third AIF gives the PE firm a significant minority stake in Spacewood, which plans to expand its retail network and strengthen its brand presence

India's solar capacity to exceed 125 GW, raising oversupply concerns

India's solar module manufacturing capacity is set to surpass 125 GW by 2025, more than triple the domestic demand of around 40 GW, creating an inventory surplus of 29 GW, according to Wood Mackenzie. The surge has been fueled by the government's Production Linked Incentive (PLI) scheme, which has spurred rapid factory expansion. However, the industry now faces overcapacity risks, compounded by a sharp decline in exports to the United States, where new 50 per cent reciprocal tariffs caused module shipments to fall 52 per cent in the first half of 2025. Several manufacturers have paused their US expansion plans and refocused on the domestic market. Wood Mackenzie warned that cost competitiveness remains a challenge. Indian-assembled modules using imported cells are at least USD 0.03 per watt more expensive than fully imported Chinese modules, while fully 'Made in India' modules could cost more than double their Chinese counterparts without government support. Protective measures,

Govt to focus on innovation in AI space, regulate when required: IT Secy

The government's priority currently is to focus on innovation in AI space and it will introduce regulation or legislation when required, IT Secretary S Krishnan said on Wednesday. The secretary said the government wants to leverage AI to make sure that it delivers the maximum benefit for the people of the country. "If we believe that the priority needs to be for innovation, regulation is not the priority today. There is a lot of play for innovation in the AI space. Having said that, let me again assert that if the need arises for legislation or regulation, the government will not be found wanting," Krishnan said. He was speaking on the occasion of releasing IndiaAI governance guidelines report submitted to the government by a sub-committee under the IndiaAI Mission. The report recommends principles and strategy that the government should adopt for governing artificial intelligence related matters. Krishnan said the report supports the position taken by the government and there is