Page 7 - Industry News

IBA to set up committee to review BC payouts, fixed remuneration on cards

Move follows NFIS 2025-30 observations and RBI survey findings flagging inadequate and delayed remuneration as key reasons for inactivity among Business Correspondents

Indian fashion designers pivot to jewellery to tailor topline boost

Couture houses like Sabyasachi and Manish Malhotra are expanding into high jewellery, tapping self-purchasing women and investment-led demand while extending their design language beyond apparel

BEE mulls tough norms as six major carmakers meet emission targets

After six major carmakers comfortably met CAFE-2 emission targets for FY24 and FY25, BEE is considering tougher, annually tightening CAFE-3 norms, though the industry favours a single target

States can tax high-income diversified agriculture: Montek Singh Ahluwalia

Economist Montek Singh Ahluwalia has opined that state governments can tax large agriculture farms that are diversifying and getting high income levels, to strengthen finances. Speaking at a conference on the 16th Finance Commission report on Wednesday, the former Deputy Chairman of the Planning Commission said the revenue generated from taxing diversified agriculture can be retained entirely by the states and need not be shared with the Centre. "Now, the fact of the matter is that all of agriculture cannot be taxed by the Centre and can only be taxed by the states. Is it the assumption that agriculture must forever remain exempt from income tax, irrespective of the size of the holding? It's very difficult to defend that," he said. He added, "If you have holdings of modest size that are diversifying, they can certainly be generating reasonably high income levels and come under the income tax category. That tax would go 100 per cent to the states. It wouldn't be taken away by the ...

Emirates SkyCargo to deploy 2 more weekly freighters to India

Gulf carrier Emirates' cargo arm SkyCargo on Thursday said it has expanded capacity in India with the deployment of two additional weekly freighter services, one each to Mumbai and Ahmedabad, starting from next month. SkyCargo also said it continues to strengthen trade lanes and connect businesses in India with their partners, suppliers, and customers worldwide, with an average cargo uplift of 3,000 tonnes weekly. Beyond aircraft capacity, Emirates SkyCargo said it has built a vast trucking network, to reach more offline destinations across India. Emirates currently serves India with three weekly freighters one to Mumbai and two to Ahmedabad as well as bellyhold capacity in 167 passenger services to nine gateways per week. The new freighter service to Mumbai will start on March 4, and connect Dubai, Singapore and India. Ahmedabad service will be a direct, dedicated freighter starting next month, it stated. The cargo airline said it expects to carry key commodities such as ...

DGCA rolls out 48-hour free cancellation window and stricter refund rules

DGCA has revamped airline ticketing rules, adding a 48-hour free cancellation window, capping fees, tightening refund timelines and introducing passenger-friendly provisions for emergencies

RBI allows NUCFDC to privately place shares with over 200 subscribers

RBI has permitted NUCFDC to offer equity shares on a private placement basis to more than 200 persons annually, subject to policy, reporting and usage conditions

CDSCO allows immediate lab testing of drugs to speed up approvals

CDSCO will permit drugmakers to begin testing samples as soon as applications are filed, shifting detailed scrutiny to later stages to shorten approval timelines and ease compliance

Sebi Working Groups submit agri derivatives review reports to chairman

Working groups constituted by Sebi to review the delivery and settlement framework and existing regulatory norms in the agricultural commodity derivatives segment have submitted their reports to Chairman Tuhin Kanta Pandey, the regulator said on Thursday. The expert panels were mandated to examine whether the current framework governing margins, position limits, and delivery and settlement mechanisms could be optimised without compromising market integrity. "The Working Groups set up by Sebi in the agri commodity derivatives segment for review of the current framework of delivery and settlement and review of current regulatory norms presented their reports to Sebi Chairman," the regulator said in a post on X. In December, Pandey indicated that Sebi would soon constitute another working group to undertake a similar review of the non-agricultural commodity derivatives segment following consultations with stakeholders. "After due consultation with all stakeholders, we are going to for

Traders fear wheat prices may fall below MSP in 2026-27 on surplus stocks

Market participants warn that surplus stocks and OMSS sales could push wheat prices Rs 300-400 per quintal below MSP in 2026-27, denting farm incomes and distorting trade signals

Counting crores: What's behind the surge in India's new ultra-Luxury homes?

As luxury thresholds climb, the real differentiator at Rs 15 crore is no longer square footage but privacy infrastructure, brand equity and managed living

Flyers to get 48-hr free window to cancel, make changes to tickets: DGCA

The aviation regulator has revised ticket refund norms, allowing passengers to cancel or amend bookings within 48 hours without additional charges, subject to conditions

Datanomics: FY05 vs FY12 GDP series - Industry share rose, services fell

New 2022-23 GDP base may not change sector shares unless methodology is revised, as past shifts show sharp impact of statistical tweaks

11,790 MHz telecom spectrum available for auction valued at ₹2.1 trn

The entire 11,790 MHz of spectrum recommended to be put up for auction would be valued at around Rs 2.1 lakh crore at the reserve price if fully taken up, sources said after telecom regulator TRAI's suggestions on the modalities for bidding of radiowaves. Sources further said that overall, the spectrum is 19 per cent cheaper than prices recommended in 2022. According to sources, if the entire spectrum - 11,790 MHz - is assigned in the auction, it would be worth Rs 2.1 lakh crore at the base or reserve price. The Telecom Regulatory Authority of India (Trai) on Tuesday recommended auctioning the entire available radiowave spectrum, while proposing lower entry barriers for new players and a uniform 35 per cent spectrum cap to safeguard competition in the telecom sector. While urging the Department of Telecommunications (DoT) to reclaim spectrum held by telecom companies undergoing insolvency, Trai proposed halving the net worth criteria for new entrants from Rs 100 crore to Rs 50 cror

Govt to roll out 3-month compliance relief scheme for firms from Apr 15

The corporate affairs ministry will introduce a three-month compliance facilitation scheme for companies to submit their pending filings with reduced fees, as well as condone the delays. The scheme, which will be operational from April 15 to July 15, comes after representations from various stakeholders seeking more time for making the filings. There are more than 20 lakh active companies in the country. Under the 'Companies Compliance Facilitation Scheme, 2026 (CCFS-2026)', there will be a one-time compliance window for companies to regularise pending filings with reduced fees and condonation of delay, the ministry said on Wednesday. In a circular issued on Tuesday, the ministry said the number of active companies has crossed the 20 lakh-mark and the rate of growth of companies in the country corresponds to the increase in the formalisation of the economy, which consists of many new-age entrepreneurs, MSMEs and producer companies, among others. "The ministry has received ...

India sustains 7-7.5% growth; Bengal should go maritime: EAC's Sanyal

Sanjeev Sanyal, Member of the Economic Advisory Council to the Prime Minister, on Wednesday said that India has managed to sustain growth of 7-7.5 per cent while maintaining macroeconomic stability despite global uncertainties, while asserting that sequential growth with stability is key to achieving the goal of a "Vikshit Bharat". Sanyal also said that West Bengal should reposition itself as a maritime state and consider setting up a large port. Addressing a special session on 'India's Growth Story Navigating Global Challenges' organised by the Merchants' Chamber of Commerce & Industry (MCCI), Sanyal said it was a cliche to describe the present as uniquely uncertain, noting that the world had navigated crises such as the global financial meltdown and COVID-19 earlier as well. He said India's macroeconomic parameters remain "in good shape", citing lower inflation, fiscal balance and a relatively contained debt-to-GDP ratio. The government, he added, adopted a conservative fiscal .

India sugar output estimate for FY26 cut 5.57% on weak yields in top states

India's sugar production has been revised down 5.57 per cent to 32.40 million tonne for the 2025-26 marketing year, industry body ISMA said on Wednesday, citing lower yields in top producers Maharashtra and Uttar Pradesh. The third advance estimate, released after an executive committee meeting, follows a second projection of 34.35 million tonnes. Output last year was 29.62 million tonnes. After diverting 3.1 million tonnes for ethanol, net availability will reach 29.3 million tonnes, up from 26.12 million tonnes in 2024-25. Including 5 million tonne opening stock, the total availability of 34.3 million tonne exceeds domestic consumption of 28.3 million tonne, ISMA said. ISMA forecast exports at 700,000 tonnes and closing stocks at 5.3 million tonnes. Net production in Maharashtra is estimated at 10.6 million tonne, Uttar Pradesh at 9.25 million tonne and Karnataka at 4.84 million tonne - all revised lower but above last year's levels. In Uttar Pradesh, lower yields stem from a .

Nepal's soyoil exports to India in 2025 jump tenfold on duty-free access

India imported a record 694,153 metric tons of soyoil from Nepal in 2025, up from 65,138 tons a year ago, according to data compiled by India's Ministry of Commerce and Industry

CAFE-III proposal sent to PMO after talks with stakeholders: Kumaraswamy

The power ministry has sent the proposal on the Corporate Average Fuel Efficiency (CAFE)-III norms to the Prime Minister's Office after a meeting with stakeholders, Union Heavy Industries Minister H D Kumaraswamy said on Wednesday, even as the auto industry appears to be divided over the treatment of small cars and changes in technical definitions. On differences among auto industry stakeholders on the CAFE-III norms, Kumarswamy told reporters, "We already had a meeting with stakeholders and power ministry. The power ministry, according to my information, now, after the meeting with stakeholders they have sent the proposal to PMO." No leniency must be granted to small cars in the corporate average fuel efficiency (CAFE-III) norms on the basis of weight and affordability as it would compromise safety features while distracting from concrete action towards sustainable mobility, Tata Motors Passenger Vehicles Ltd Managing Director & CEO Shailesh Chandra had said in November. However,

BMC presents ₹80,952.56 cr budget for 2026-27, up 8.7% from current fiscal

The Brihanmumbai Municipal Corporation (BMC) on Wednesday proposed a budget outlay of Rs 80,952.56 crore for the financial year 2026-27, marking an 8.77 per cent increase over the 2025-26 budget estimate of Rs 74,427.41 crore. BMC Commissioner Bhushan Gagrani tabled the budget in the country's richest civic body, with the capital expenditure pegged at Rs 48,164.28 crore, reflecting a rise of about 11.59 per cent over the revised estimate of Rs 39,159.51 crore for 2025-26. The capital outlay in 2025-26 was originally estimated at Rs 43,162.23 crore, but was subsequently revised downward. Revenue expenditure for 2026-27 is proposed at Rs 32,698.44 crore, about 15.71 per cent higher than the revised estimate of Rs 28,257.91 crore for 2025-26. The revenue expenditure for the current fiscal was initially estimated at Rs 31,204.53 crore but later reduced by Rs 2,946.62 crore following expenditure rationalisation measures. The estimated revenue income for 2026-27 stands at Rs 51,510.94 ..