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Subscribe to enjoy similar stories.New Delhi: Luxury retailer Burgundy Brand Collective aims to cross ₹200 crore in revenuein FY27, as the Mumbai-based company bets on rising premium consumption beyond India’s top metros.The company, which has introduced brands such as Royce’ Chocolate, Onitsuka Tiger, Jacadi Paris and Ligne Roset to India, plans to invest about ₹100 crore to scale its multi-category portfolio, cofounder Samir Gadhok told Mint.Burgundy, which reported sales of ₹120 crore in FY24, also plans to nearly double its store count over the next three years to about 65 stores.The expansion comes as India’s luxury consumption story broadens to newer cities where affluent consumers are spending more across categories from fashion and food to home and lifestyle.Burgundy’s approach has been to build across categories rather than deepen a single vertical. "We want to be everything to one customer, rather than one thing to everyone,” said Gadhok.

Subscribe to enjoy similar stories.NEW DELHI: Bharat Sanchar Nigam Ltd (BSNL) has set an ambitious target of increasing its average revenue per user (Arpu) by almost 50% to ₹150 in the current fiscal year. This after a recent annual review flagged concerns “regarding the stagnation of core business revenue” of the state-owned telecom operator, according to the meeting document seen by Mint.The target was set at a review meeting of BSNL with communications minister Jyotiraditya Scindia on 23 April.

Subscribe to enjoy similar stories.New Delhi: India's summer (zaid) crops, including maize, moong, and groundnut, have remained resilient despite scorching heat across several parts of the country. However, an extended heatwave could hurt both yields and crop quality, a senior agricultural scientist warned on Wednesday.Field reports suggest that these short-duration crops, grown between rabi and kharif seasons, are largely holding up, supported by timely irrigation, M.L.

Subscribe to enjoy similar stories.The UAE's exit from the global oil cartels may be good for India, the world's third-largest oil buyer, sector experts said.The exit comes at a time when the Organization of Petroleum Exporting Countries (Opec) has been trying to cap production amid a global oil crisis. The UAE decision may weaken Opec's control over oil prices and result in more energy purchases by India, experts said."This decision aligns with the UAE’s long-term strategic and economic vision and the evolution of its energy sector, including accelerating investment in domestic energy production, while reinforcing its commitment to its role as a responsible and reliable producer looking to the future of global energy markets," the Emirates' energy ministry wrote on X.

Subscribe to enjoy similar stories.The India-New Zealand free trade agreement (FTA) signed on Monday is the latest in a series of bilateral pacts India has struck. Once operationalized, it will allow India zero-duty access for all goods along with easier mobility for professionals to work in New Zealand, which has also committed to invest $20 billion in India over many years.

Subscribe to enjoy similar stories.For those who have faced a shortage of small-value notes and coins in their wallets, the next three months could bring a change.India’s largest lender, State Bank of India (SBI), is looking to install dozens of cash and coin dispensers by the end of June, as it leads an initiative by the government and the Reserve Bank of India (RBI) to ease access to low-denomination paper money and coins.The state-owned lender plans to install 60 such machines in markets and other high-traffic areas where demand for change is high, according to four people familiar with the development and a document seen by Mint.The rollout will cover branches with currency chests in cities such as Bengaluru, Pune, Amravati, Chandigarh, Vellore, and Shimla, among others. The idea is to cover 13-14 states, the person said.“If the bank sees usage pickup at these machines, it will gradually increase the number.

Subscribe to enjoy similar stories.New Delhi: India is working on an overhaul of its firefighting vehicles—from identifying challenges in dense urban landscapes to building domestic testing capacity—as the government seeks to address critical gaps in fire safety infrastructure, according to two people aware of the development. The effort comes amid acute shortages of fire stations, equipment and personnel, raising concerns over response readiness as urban fire risks rise.As part of the plan to ensure adequate fire safety preparedness, the heavy industries ministry has started consultations to identify challenges faced by firefighting vehicle makers—lack of indigenous testing, import dependence for high-tech components, varied regulatory requirements across states, etc.—the people cited above said on the condition of anonymity.To be sure, after the 15th Finance Commission had noted deficiencies in fire safety resources and recommended a ₹5,000-crore scheme to upgrade infrastructure and availability of trained manpower, the Centre launched a scheme for expansion and modernization of fire services with the recommended corpus in July 2023.India currently lacks any formal testing of firefighting vehicles and is considering setting up new facilities and upgrading existing testing agencies such as the Automotive Research Association of India (Arai) for the same, said the first person cited above.

Subscribe to enjoy similar stories.Asia’s Gen Z is facing a summer of discontent. Already grappling with bleak job prospects and lacklustre growth, it is now being stung by the shock from the Iran war, which is driving up prices of everything from fuel to food. The immediate impact is economic, but there is a growing risk of political instability.

Subscribe to enjoy similar stories.NEW DELHI: An early and harsher-than-usual start to summer has prompted the Centre to ask states to step up heatwave preparedness, with temperatures already running 4-8 degrees Celsius above seasonal averages in several regions, according to two government officials and documents reviewed by Mint.The directive comes as parts of northwestern, central and eastern India report daytime highs crossing 44°C, raising the risk of heat-related illnesses and potential disruption to economic activity if extreme conditions persist.The India Meteorological Department (IMD) has warned that heatwave conditions are very likely in the next 24 hours in states including Bihar, Jharkhand, Uttar Pradesh, Rajasthan, Madhya Pradesh, Punjab and Haryana, as well as parts of central and peninsular India.India's official weather forecaster defines a heatwave as temperatures at least 4.5°C above normal, with higher departures classified as severe.Union health secretary Punya Salila Srivastava has asked states to stock essential supplies such as oral rehydration salts (ORS), intravenous fluids, ice packs and cooling equipment, and to operationalize dedicated Heat Stroke Management Units at health facilities. Ambulance services have also been asked to be equipped to handle heat-related emergencies, according to the communication sent to states.States have been directed to mandatorily report daily heatstroke cases and deaths through the Integrated Health Information Platform (IHIP) to enable real-time monitoring.

Subscribe to enjoy similar stories.NEW DELHI: Jaguar Land Rover (JLR) is facing its largest-ever US recall, with more than 170,000 vehicles pulled back over a critical drive power defect, an issue that, by one estimate, could cost the British luxury carmaker upwards of $130 million and dent customer confidence in a key market.The recall, triggered by a hardware fault that can lead to a complete loss of drive power, comes as the Tata Motors-owned unit grapples with the fallout of a cyberattack and higher tariffs in North America. While the financial hit is seen as manageable, analysts warn the cumulative impact of repeated disruptions and safety concerns could weigh on demand and brand perception.According to at least two independent experts, the recall could lead to multi-million dollar expenses, with one estimate pegging the impact at more than $130 million.

Subscribe to enjoy similar stories.NEW DELHI: India’s avocado demand is surging, but domestic supply is still playing catch-up, keeping the country reliant on imports even as local cultivation expands.Government data show imports have more than tripled in two years, rising to $42.27 million in FY26 (till February), from about $27 million in FY25 and $13.5 million in FY24. Domestic output, meanwhile, has increased more gradually—from about 6,000 tonnes in 2023 to around 9,000 tonnes in 2026, experts said.The mismatch highlights a widening gap: rising health-driven consumption is outpacing India’s nascent production base, forcing the market to lean on overseas suppliers even as farmers begin to scale up planting.The area under avocado cultivation has expanded over the years, with farmers in Karnataka, Kerala, Tamil Nadu, Sikkim and parts of Maharashtra responding to growing urban demand.

Subscribe to enjoy similar stories.New Delhi: Motorcycle manufacturer Classic Legends Private Ltd is betting on new products to sustain its recent growth momentum after years of muted sales, as it seeks to challenge the dominance of Royal Enfield in India’s premium motorcycle market.The Mumbai-based premium bike brand, a subsidiary of the Mahindra Group, introduced two motorcycles on Thursday, which comes nearly a year after it committed to a series of premium bike launches. This was the company's first launch for financial year 2027.Classic Legends’ efforts to return to a growth trajectory come at a time when Mahindra has identified the company as a potential growth driver.Anupam Thareja, co-founder of Classic Legends, said the new motorcycles with 350cc and 650cc engine capacities will be positioned as "SUVs" of bikes."I have always believed that scramblers will redefine Indian riding culture the way SUVs (sports utility vehicles) redefined passenger four-wheelers.

Subscribe to enjoy similar stories.New Delhi: India’s early and intense summer is already pushing electricity demand towards the highest levels seen during peak summer last year, challenging the country's power system for the weeks ahead.Peak demand has risen to nearly 240 GW this week amid rising use of cooling appliances, up from about 215 GW end March, according to the Grid Controller of India. With the weather bureau warning of sustained above-normal temperatures, demand is seen rising further, raising the likelihood of new records this season.The record high power demand so far is 250 GW seen on 30 May, 2024.

Subscribe to enjoy similar stories.NEW DELHI: Telecom operator Reliance Jio Infocomm is expected to post steady subscriber additions for the March quarter (Q4FY26), but the absence of tariff hikes and a shorter quarter are likely to cap growth, a trend analysts expect across the sector.Reliance Jio, the telecom arm of Jio Platforms, will report its fiscal fourth-quarter earnings on 24 April alongside parent Reliance Industries Ltd.“Reliance Jio is expected to add 5 million subscribers q-o-q (quarter-on-quarter) to 520 million, with Arpu (average revenue per user) likely to grow by 1% q-o-q to ₹216/month, led by 5G FWA (fixed wireless access) addition,” brokerage house Centrum said in a note dated 5 April.Arpu, a key industry metric that tracks average revenue earned per user, is seen inching up modestly as operators lean on premiumization rather than price hikes.On a standalone basis, Centrum estimates Jio will report ₹33,529 crore revenue from operations, up 2.4% sequentially and 11.7% year-on-year. Net profit is projected to rise 2.8% quarter-on-quarter and 11% annually to ₹7,371 crore.Reliance Jio, India’s largest telecom operator by market share, accounts for the bulk of Jio Platforms’ business.

Subscribe to enjoy similar stories.NEW DELHI: As Alpha, the Alia Bhatt-starrer female spin-off to Yash Raj Films’ Spy Universe, which includes hits like Pathaan, readies for release later this year, trade experts say Bollywood still lags Hollywood in building high-profile, female-led franchise extensions.Unlike the West, where films such as Wonder Woman and Black Widow have proven audience pull for women-led entries within larger cinematic universes, Indian studios have been slower to back big-budget action spectacles anchored by female stars—even when they sit inside established franchises.Malayalam cinema has taken early steps in this direction with Lokah Chapter 1: Chandra, a female superhero film released last year. In Hindi cinema, comparable attempts have largely been limited to mid-budget spin-offs such as Taapsee Pannu’s Naam Shabana, a spin-off to Akshay Kumar’s spy film Baby, Kajol’s horror film Maa, a spin-off to Ajay Devgn’s Shaitaan, alongside Rani Mukerji’s ongoing Mardaani series.“The gap largely comes from how franchises have historically been built in Indian cinema.

Subscribe to enjoy similar stories.Japan has decided to ease restrictions on its sale of weapons to other countries, although this would be limited to the 17 with which it has defence tie-ups. As India is part of the four-nation Quad—with Japan, the US and Australia as other members—Tokyo’s move opens up a possibility worth close consideration by New Delhi. We could diversify our set of high-tech arms suppliers to include a non-hegemonic power with which we have had good relations for eight decades.

Subscribe to enjoy similar stories.New Delhi/Mumbai: Regulatory approvals in Europe for Tata Motors Ltd’s $4.4 billion acquisition of Iveco are running behind schedule, potentially pushing the closure of its largest-ever buyout past the April-June target, according to two persons in the know.Pending clearances from the European Central Bank and the European Commission could delay revenue recognition and integration plans, adding near-term uncertainty even as the company continues to engage with regulators for an early closure.“Approvals from European Central Bank and European Competition Commission are still pending, which should have come a couple of months back. The deal is running behind schedule,” one of the persons mentioned above said on the condition of anonymity.In a 12 February presentation to investors, Iveco had noted that the timeline proposed by Tata Motors suggested all regulatory approvals should be in place by the end of the March quarter.After all regulatory approvals come through, Tata’s offer will be submitted to Italy’s securities market regulator Commissione Nazionale per le Società e la Borsa (Consob), following which the offer will be formally launched.

Subscribe to enjoy similar stories.New Delhi: India is looking to strengthen the social security net for informal workers amid rising living costs for retirees. Under the plan, the finance ministry, in consultation with the Pension Fund Regulatory and Development Authority (PFRDA), is considering doubling the assured pension ceiling under the flagship Atal Pension Yojana (APY) to up to ₹10,000 a month, according to three people aware of the discussions.The proposal aims to boost fresh enrolments as well as retention in a scheme that now has 90 million subscribers but faces high drop-offs.Launched in May 2015, the pension scheme focuses on informal sector workers and currently provides a guaranteed monthly pension of ₹1,000-5,000 after the age of 60 years, depending on the subscriber’s contribution slab.With nearly half the enrolled subscribers discontinuing contributions over time, the government is examining a long pending demand to enhance the pension cap to up to ₹10,000 per month to make the scheme more attractive and aligned with rising living costs, according to the people cited above.The scheme's gross enrolments in FY26 crossed 13.5 million, the highest ever in a single fiscal year since its launch.“The government and the PFRDA are examining options to enhance the upper pension cap to around ₹8,000– ₹10,000 per month, aiming to make the scheme more attractive and aligned with rising living costs,” said one of the people cited above, requesting anonymity.Under the scheme's structure, the government provided a co-contribution in the initial years for subscribers enrolled before 31 March 2016.

Subscribe to enjoy similar stories.More young professionals these days are trading longer vacations for bite-sized weekend hikes and domestic trekking. This trend has picked up immensely across India's busy metros and cities.The government has recognized India's potential to offer world-class trekking and hiking experiences.

Subscribe to enjoy similar stories.NEW DELHI: The West Asia war is likely to have a limited impact on India’s economy and although inflation could accelerate from the level in March, it will stay within the central bank’s tolerance range, S. Mahendra Dev, chairman of the Economic Advisory Council to the Prime Minister, said in an interview.The economy is likely to expand 7% this year, and the Iran war has re-emphasized the need for faster diversification of energy sources, Dev said.Atmanirbharta or self-reliance is at the centre of India’s strategy to navigate a global environment riddled with economic choke points, Dev said.Dev said the economy’s resilience in the face of headwinds generated by the West Asia war could be demonstrated by the narrowing of India’s trade deficit to $20.67 billion in March.“This shows that the impact of the war is being mitigated by a good export performance to a diversified set of markets.

Subscribe to enjoy similar stories.New Delhi: India’s foodgrain stocks have surged well above its buffer norms, strengthening the country’s cushion against supply shocks and global price swings. Government data shows central pool reserves were at 60.48 million tonnes (mt) as on 1 April—nearly three times the mandate—fanning a debate over how best to manage surplus stocks to benefit both farmers and consumers.The latest data marks a strong recovery from 33.2 mt stock in 2023 and 37.65 mt in 2024, when food grain inventories had tightened.