India Financial News

social care providers will have to prioritise hiring foreign care workers already in the country before recruiting from overseas, the government said on Wednesday, as it cracks down on worker abuse in a sector heavily reliant on immigration. The move follows the introduction in November of stronger sanctions for rogue employers who recruit foreign workers but failed to provide them with work, leaving some unemployed and close to destitution. ALSO READ:What is UK’s Skilled Worker visa?

Vedanta Ltd's promoters will maintain over 50% stake in each of its demerged entities, as the focus remains on creating pure-play companies which will be better placed to capitalise opportunities, the group's chairman said. The mining conglomerate is looking to demerge its businesses — aluminium, oil & gas, power and steel- as separate entities. At present, these businesses are subsumed within Vedanta Ltd, the Indian subsidiary of UK-based Vedanta Resources. «We realised that most of our businesses are sitting under a large banyan tree structure, that is Vedanta. It is better to take them out and allow them to grow in the sun,» Vedanta Resources chairman Anil Agarwal told ET during an interaction. There is no need for a stake sale for cutting debt at the holding company level, he said. «We are very comfortable with our shareholding levels and have no plans to pare down our promoter stake in any way. Equally, we have no plans to increase our stake in any of the companies that will be demerged,» he said, explaining that the company is sufficiently funded to manage affairs through internal accruals. But it is open to selling the steel business if a «right price» is offered.

Shell LNG marketing executive said, adding that LNG trade will find ways to adapt to logistical interruptions. Shell, the world's largest trader of LNG, accounts for 15% of global trade and supplies about a tenth of India's LNG imports. The company remains sanguine about India, which imported record volumes of LNG in 2024, and aims to tie up more long-term sale contracts with Indian buyers and expand its import terminal capacity when there is a need for it, Tom Summers, senior vice president for Shell LNG Marketing & Trading, told ET in an interview. Summers defended Shell's India terminal's underutilisation, saying global utilisation average is probably 50% or less and its India terminal is strategically connected to supply and demand centres to serve the growing customer needs. Shell's Indian terminal's utilisation is about 40% while India's average is 55%.

Lok Sabha on Wednesday passed the Oilfields (Regulation and Development) Amendment Bill, 2024, aimed at boosting the country's exploration sector by ensuring policy stability, scope for international arbitration and longer lease for oil and gas companies. The bill, which has already been passed by Rajya Sabha, «will further strengthen and propel India's energy sector,» said oil minister Hardeep Puri. «By virtue of the fact that we are going to rely on conventional energy for some time, we need to step up our exploration and production activities.» The Centre hopes the proposed law will perk up India's exploration sector, which has been dull for more than a decade despite various policy reforms.

Neeti Mohan is one of the popular singers of the country who has belted out hits like Ishq Wala Love, Sapna Jahan, Nainowale Ne and Kashmir Tu Main Kanyakumari songs. But recently, she graced the annual event of Delhi University and left the students in awe of her impressive voice and lively performance at the fest. For the unversed, Neeti Mohan is an alumna of Miranda House. She shared the photos from the fest on Instagram and wrote, “When the audience sings along every word, you know it’s a night to remember!!! 8th March 2025 @Kalrav_dduc @dducofficial was pure magic. Thank you for the energy, the love, and the memories. Until we meet again. Big Love from the entire team of NM live.”

TechnipFMC plc to accelerate the delivery of integrated subsea infrastructure for future deepwater projects in India. «The collaboration will leverage TechnipFMC's integrated engineering, procurement, construction, and installation execution model, driving efficiency and innovation in execution,» the company said in a statement. This alliance will help Cairn advance its deepwater exploration ambitions, tapping into TechnipFMC's extensive expertise and cutting-edge technologies. «The agreement also incorporates the use of integrated front-end engineering and design, where early engagement optimizes project performance utilizing TechnipFMC's subsea production systems (SPS) and subsea umbilicals, risers, and flowlines (SURF) work scopes,» it said.

trade with Pakistan means expanding their export base and extending economic influence in the region. For Pakistan, reopening structured trade with India could be a lifeline. Institutional frameworks built during the Indo-Pak trade discussions of 2011-12 still exist. Rather than settling for a hesitant revival of pre-2019 trade, both nations have the chance to build a structured, high-impact trade corridor that turns decades of rivalry into economic interdependence, stretching beyond Afghanistan to CIS countries. Despite ad-hoc bans and restrictions, trade has not vanished. But it has been driven underground, morphing into an informal, fragmented and inefficient shadow of its true potential. In 2023-24, India officially imported only $3 mn worth of goods from Pakistan, while its exports to Pakistan reached $1.2 bn.

This is a welcome move. But just adding seats won't be enough to harness the full potential of IITs.

Infosys cofounder Nandan Nilekani predicts that India will have one million startups by 2035. He said that there are 150,000 startups today growing at a compound annual growth rate of 20%. He also noted that among 2000 funded startups, 100 unicorns have been created. He was speaking at venture capital firm Arkam Ventures Annual Meet 2025 on Wednesday here where he outlined a strategic roadmap for India to achieve an 8% annual growth rate and become an $8 trillion economy by 2035.

NTPC has commissioned a 50 MW unit of Shajapur solar project in Madhya Pradesh, taking the group's total installed and commercial capacity to 77,461.50 MW, a BSE filing said on Wednesday. «Second and last part capacity of 50 MW out of 105 MW Shajapur Solar Project (Unit-I) in Shajapur Solar Park, M.P of NTPC Renewable Energy Limited (NTPC REL) is declared on commercial operation,» NTPC said in the filing. The first part capacity of 55 MW has already been declared on commercial operation on November 29, 2024. With this, the total installed and commercial capacity of NTPC group has now become 77,461.50 MW, it said.

Mitsubishi Chemical Group of Japan has evinced interest in entering the supply chain link in the semiconductor and electric vehicles sectors in India. There are plans to set up a project catering to the supply chain link in the semiconductor and EV sectors in the country, president and CEO of Mitsubishi Chemical Group Manabu Chikumoto, said at an interactive session of Bengal Chamber of Commerce and Industry here on Wednesday. «We are trying to find out some occasions to come to this market to expand our existence, together with some partners. It will be in the supply chain link to the semiconductor and EV sectors», he said. Chikumoto said the group has not identified any place for the proposed project.

BRISKPE on Wednesday said it has received the RBI's in-principle authorisation to operate as a payment aggregator for cross-border (PA-CB) transactions. The authorisation enables BRISKPE to operate as a dedicated PA-CB for both exports and imports under the Payment and Settlement Systems Act, 2007, BRISKPE CEO Sanjay Tripathy, said. As one of the first platforms to solely focus exclusively on cross-border payments, BRISKPE aligns with the RBI's updated regulatory framework introduced in October 2023, the company said. «With this approval, BRISKPE is equipped to provide seamless solutions for businesses struggling with inefficient international payment systems,» it added.

Ashwini Vaishnaw welcomed Elon Musk's Starlink on Wednesday, highlighting its potential to benefit railway projects in remote areas. «Starlink, welcome to India! Will be useful for remote area railway projects,» said Vaishnaw in a statement on X. Billionaire Mukesh Ambani's Jio Platforms has struck a deal with SpaceX, the aerospace company led by Musk, to bring Starlink's broadband internet services to India, a surprise move that follows months of bickering over how Musk's venture should be granted spectrum rights. The deal with Musk — considered the right-hand-man of US President Donald Trump — came a day after telecom tycoon Sunil Bharti Mittal's Bharti Airtel signed a similar partnership deal with SpaceX.

Subscribe to enjoy similar stories. New Delhi: The government may make it mandatory for packages containing narcotics to carry a barcode while it mulls building a portal to identify, track and monitor the illegal sale of narcotics. In view to recent cases of abuse of narcotics meant for medicinal use, the government is devising a mechanism to ensure the tracking and traceability of these drugs.

Subscribe to enjoy similar stories. Lucknow-based SLMG Beverages Pvt. Ltd, a major Coca-Cola bottler in India, plans to invest up to $1 billion by 2030 to expand its production capacity in the populous states of Bihar and Uttar Pradesh, according to a company executive.

Indian space economy is aiming to reach USD 44 billion by 2033 from USD 8.4 billion in 2022, said a FICCI-EY report on 'Unlocking India's Space Economy — Pathways to Growth, Innovation and Global Leadership', released today at Bharat Space Conclave 2025', organized by FICCI. According to the report, the global space economy is projected to exceed USD 1.8 trillion by 2035, with commercial satellite services, deep-space exploration, and space-based infrastructure driving expansion. The report further states that India has set an ambitious target to grow its space economy from USD 8.4 billion in 2022 to USD 44 billion by 2033, aiming to capture 8 per cent of the global market. This growth is being fuelled by policy reforms, private sector participation, and increased international collaboration, supported by the Indian Space Policy 2023 and institutions such as IN-SPACe and NSIL. FICCI-EY report notes that a significant shift is underway, with India's space sector evolving from a government-led model to a commercially driven, innovation-led ecosystem. Satellite communication (SATCOM), projected to reach USD 14.8 billion by 2033, will play a critical role in expanding digital connectivity, particularly in rural and underserved regions.

Subscribe to enjoy similar stories. Saudi Arabia's upcoming second national airline, Riyadh Air, is expected to start operations in India in 2026. According to Tony Douglas, chief executive officer (CEO) of Riyadh Air, the airline is open to partnering with Indian airlines like Air India and IndiGo and Indian information technology (IT) companies for its digital infrastructure.

Subscribe to enjoy similar stories. Shares of India’s largest information technology (IT) service providers tanked Wednesday after at least three brokerages raised concerns about the industry’s growth recovery in FY26.

Ministry of Information and Broadcasting (MIB) to set a deadline for completing the process and introducing the Broadcasting Services Regulation Bill in Parliament at the earliest opportunity. The committee made this recommendation in a draft action-taken report on its observations and recommendations from the 56th report on the regulation of cable television in India, which was tabled in Parliament on Tuesday. The second draft of the Broadcast Bill, introduced in July, was withdrawn in August last year following backlash from media industry stakeholders over the lack of transparency in consultations, which were held with only a select group. Another major concern of the industry was that the Bill contained vague terms that could potentially grant arbitrary powers to government officials. In its response to the committee on 17 January, the MIB stated that a fresh draft of the Bill would be published after detailed consultations.

“Bacca Bucci has carved a strong position in the sneakers market, demonstrating impressive growth and brand recognition,” said Ashutosh Taparia and Sanjeev Taparia, Board Members at Ananta Capital. “We see tremendous untapped potential in this segment, and we are excited to collaborate with Anuj and Natwar to help Bacca Bucci scale to new heights.” The company is poised to sustain its robust growth trajectory in the current financial year.

housing loans outstanding stood at Rs 33.53 lakh crore at the end of September, a growth of 14 per cent year-on-year, with the MIG segment accounting for the maximum credit, according to National Housing Bank (NHB). NHB, a statutory body under the Government of India, has released the Report on Trends and Progress of Housing in India. «As on September 30, 2024, EWS and LIG accounted for 39 per cent, MIG accounted for 44 per cent and HIG accounted for 17 per cent of outstanding individual housing loans,» the report said. It further said individual housing loan disbursements during the half year ended September 2024 were Rs 4.10 lakh crore while disbursements during the year ended March 2024 were Rs 9.07 lakh crore. The report broadly covers the housing scenario and house price movements, flagship programmes of GoI in the housing sector, role of Primary Lending Institutions (PLIs) in providing housing credit, performance of Housing Finance Companies (HFCs) and outlook for the sector. «Major initiatives of GoI, such as PMAY-G, PMAY-U, impact assessment of PMAY-U, Urban Infrastructure Development Fund (UIDF), Affordable Rental Housing Complexes (ARHC) scheme, etc. have been covered in the report,» it said.