Business & Economy

Maggi, the iconic instant noodles brand from Nestlé, has completed 50 years in India. To celebrate this milestone, the Union Minister for Food Processing, Chirag Paswan, today released a special commemorative postage stamp in honor of Maggi’s golden jubilee. Nestlé India’s CMD, Manish Tiwari, was also present at the event. A Culinary Staple Across India From the remote valleys of Kashmir to the serene beaches of Goa, and from the hills of Himachal Pradesh to Uttarakhand, one thing remains common—Maggi noodles are everywhere. Since its introduction in India, Maggi has become an integral part of the Indian food ecosystem, enjoyed by people of all ages. Minister Highlights Processed Food Evolution Speaking at the event, Minister Chirag Paswan said, “Maggi came to India 50 years ag...

China has achieved a major milestone in the electric vehicle (EV) sector, with EV sales surpassing those of petrol and diesel vehicles for the first time in the country’s history. The shift highlights China’s rapid transition toward sustainable mobility, while India still lags behind. According to recent data, China sold 13.1 million electric vehicles last year, compared to 12.3 million petrol and diesel cars, marking the lowest sales for conventional vehicles in 15 years. The sales of petrol and diesel cars in China have declined for the eighth consecutive year, falling by 13% last year alone. Petrol and diesel car sales in China had peaked in 2017, but have since dropped by 49% (11.6 million units). Analysts estimate that by 2030, EV sales in China could reach 21.2 million units, w...

The three-day rally in the domestic stock market came to a halt on Wednesday as profit-booking and sectoral weakness weighed on investor sentiment. The BSE Sensex dropped 450 points, while the Nifty50 fell more than 150 points, led by losses in metal and pharmaceutical stocks. At around 10 a.m., the Sensex was trading at 83,345.02, down 472.67 points (0.56%), and the Nifty stood at 25,624.30, down 151.70 points (0.59%). Sectoral trends Among Sensex constituents, BEL, IndiGo, Larsen & Toubro, Tata Steel, Axis Bank, and Sun Pharma declined between 1% and 2.5%, while Hindustan Unilever gained over 1%. Other gainers included Trent, Infosys, TCS, and SBI, which rose by up to 0.5%. Market heavyweight Reliance Industries slipped 0.6%. On the broader market front, the Nifty Smallca...

New Delhi — While the majority of taxpayers have already migrated to the new tax regime, the government has not yet officially phased out the old system. With the Income Tax Act 2025 set to replace the 1961 law starting April 1, 2026, many are asking: how long will the old tax regime continue? Simplified forms and rules In an exclusive interview with NBT, CBDT Chairman Ravi Agrawal confirmed that all forms and rules under the new Income Tax Act 2025 will be notified this month. “We first simplified the language and then updated the rules and forms,” Agrawal said. “Several forms have been made smarter, some have been discontinued. The objective is to make compliance easier while ensuring the data collected is better utilized.” Key changes in forms Agrawal noted that while most I...

New Delhi — Who says water-based street snacks can’t become a lucrative business? Ankita Khante and her husband Aman Krishna, both IIT graduates, have turned their love for Indian cuisine into a thriving venture in London, charging nearly ₹6,000 per person for a unique dining experience. Leaving high-paying corporate careers Like many IIT alumni, Ankita initially followed the conventional path, working as a product designer at Samsung in Bengaluru. Aman, originally from Obra, Uttar Pradesh, pursued computer science and studied at IIT Dhanbad and IIIT Hyderabad. After their marriage in 2024, the couple moved to the United Kingdom, where they made a bold decision: leave their well-paying corporate jobs to start a home-based supper club. Ankita, an IIT Guwahati alumna, and Aman had n...

New Delhi — Indian equity markets closed modestly higher on Wednesday, supported by buying in consumer, oil & gas and energy stocks, even as heavy selling in IT counters capped gains. Market participants are now watching a fresh set of stocks that analysts say could remain active in Thursday’s session. The Sensex rose 78.56 points, or 0.09%, to close at 83,817.69, while the Nifty 50 gained 48.45 points, or 0.19%, to settle at 25,776.00. Sectoral performance Sectoral indices showed broad-based strength outside IT. Nifty Consumer Durables climbed 2.66%, Nifty Oil & Gas rose 2.08%, and Nifty Energy advanced 2%. Gains were also seen in commodities, public sector enterprises, infrastructure and consumption stocks. In contrast, Nifty IT fell 5.87%, emerging as the biggest dra...

New Delhi — A sharp selloff in technology stocks rattled Indian markets on Wednesday after US AI startup Anthropic unveiled a powerful new suite of automation tools, reigniting fears that artificial intelligence could disrupt traditional IT business models. The Nifty IT index fell nearly 6%, erasing around ₹2 trillion in market capitalization in a single session. It marked the sector’s steepest decline since the Covid-era crash of March 2020, when the index plunged 9.6%. By the end of trading, the total market value of listed IT firms slipped below ₹29.85 trillion. The decline mirrored a sudden drop in US software stocks after Anthropic announced 11 new plugins designed to automate a wide range of professional tasks. What is Anthropic’s new tool? At the center of the market rea...

New Delhi — Reliance Industries Chairman Mukesh Ambani has cautioned Indian savers against relying solely on gold and silver for wealth creation, arguing that precious metals, while safe, are not the most effective route to long-term economic growth in a fast-expanding economy like India. Speaking at a recent JioBlackRock event, Ambani highlighted the scale of India’s precious metals imports. He noted that the country imported nearly $60 billion worth of gold and $10–15 billion worth of silver last year. Much of that capital, he said, is parked in assets that serve primarily as savings instruments rather than productive investments. “Gold and silver provide security in difficult times,” Ambani suggested, “but they do not directly contribute to economic expansion in the way productive...

New Delhi — Predictions attributed to Bulgarian mystic Baba Vanga, often dubbed the “Nostradamus of the Balkans,” have resurfaced in public debate as volatility in gold and silver prices shakes global financial markets. Baba Vanga, known for a series of widely discussed prophecies about world events and economic upheavals, had reportedly warned of a major global cash crisis and a growing reliance on precious metals. According to accounts of her predictions, gold, silver and copper would emerge as critical stores of value during a period of financial instability. The prophecy of a “cash crash” Supporters of Vanga’s prophecies claim she foresaw a global “cash crash” around 2026, suggesting that paper currencies would lose public trust and that hard assets such as precious metals wou...

New Delhi — Imports of Russian crude into India are continuing through a covert maritime network known as the “shadow fleet,” even as geopolitical pressure mounts over sanctions-linked oil trade. The development comes days after a February 2 trade agreement between India and the United States, under which Washington reportedly urged New Delhi to reduce its purchases of Russian oil and increase imports from the US and Venezuela. US President Donald Trump claimed India had agreed to halt Russian oil purchases, a statement that has not been officially confirmed by Indian authorities. Moscow, too, has said it has received no such directive from New Delhi. India remains a key buyer Following the Russia–Ukraine conflict, India emerged as one of the largest buyers of discounted Russian c...