Business & Economy

New Delhi: Delhi-based aviation charter company VSR Ventures has come under scrutiny following the crash of a Learjet 45 in Baramati yesterday. The company, known for its popularity among politicians, has raised questions regarding its operational practices and regulatory compliance. Trusted by Political FiguresThe Learjet 45 was carrying Maharashtra’s former Deputy Chief Minister Ajit Pawar at the time of the crash. VSR Ventures Pvt Ltd has long been a preferred charter operator for politicians, often providing aircraft on credit and extending flexible services to VIP clients. Company Origins and FleetVSR Ventures began operations in 2014 with a Pilatus and a Beechcraft B-200. Over the years, the company has expanded to a fleet of 17 aircraft, including business jets and turboprops,...

New Delhi: The recently concluded India-European Union Free Trade Agreement (FTA) has delivered a blow to Turkey, a known ally of Pakistan. While the FTA will allow Indian goods preferential market access in the EU, Turkey will not benefit and will continue to pay the same tariffs on Indian products. Why Turkey Misses OutThe reason lies in the customs union between Turkey and the EU, which has been in effect since 1996. Under this arrangement, Turkey is bound by the EU’s external tariffs. This means that if the EU reduces duties for any country under an FTA, Turkey is required to extend the same concessions to that country. However, in the case of the India-EU FTA, Turkey is not part of the agreement, and therefore cannot use it to export Indian goods duty-free. According to an offic...

New Delhi: Precious metals saw a sharp surge on Thursday, with silver crossing the ₹4 lakh per kilogram mark on the MCX. Gold also recorded a significant jump, fueled by growing demand for safe-haven assets amid geopolitical tensions. On the MCX, March delivery silver rose by more than ₹17,000 per kilogram, reaching ₹4,03,845 per kg at 9:40 AM. Meanwhile, February delivery gold gained over ₹11,000 per 10 grams, trading at ₹1,78,020 per 10g. Both metals reached their all-time high levels on the exchange. Rapid Rise in Silver PricesSilver prices have surged by ₹1 lakh in just 10 days. On December 19, silver traded at ₹3 lakh per kilogram. It had previously taken about a month to rise from ₹2 lakh to ₹3 lakh per kilogram. Jewelers have expressed concern over the sudden spike in MCX silv...

New Delhi: The recently concluded Free Trade Agreement (FTA) between India and the European Union (EU) has irked the United States, which has openly expressed concerns over the deal. On Wednesday, US Treasury Secretary Scott Besent criticized the agreement, signaling American disappointment. In an interview with CNBC, Besent was asked whether the India-EU trade pact posed a threat to US interests. He replied that countries should pursue what is best for themselves. However, he expressed “considerable disappointment” over Europe’s move, particularly in the context of the ongoing Ukraine conflict. Oil Trade Under ScrutinyBesent also raised the issue of oil, noting: “We imposed a 25% tariff on India’s purchases of Russian oil. Imagine what happened next: last week, European nations conc...

New Delhi: The government is reportedly considering expanding the definition of startups in this year’s Union Budget, with a particular focus on deep technology and artificial intelligence (AI). A senior government official said the move could also include cooperatives, aiming to boost innovation and create more employment opportunities across the country. Currently, India has over 200,000 registered startups. Under the Department for Promotion of Industry and Internal Trade (DPIIT), only entities registered as private limited companies, partnership firms, or limited liability partnerships are recognized as startups. These entities must be less than 10 years old at the time of application, and their turnover in the previous financial year should be below ₹100 crore. Encouraging Innov...

New Delhi: The Pension Fund Regulatory and Development Authority (PFRDA) has launched the NPS Health Pension Scheme, a pilot initiative designed to support retirees not only with a steady pension but also with their medical expenses. The scheme provides financial assistance for both hospitalization and outpatient treatment, ensuring subscribers do not have to rely on others during times of illness. Flexible deposit and withdrawal rules have been built in to make healthcare more accessible and stress-free. How the Scheme WorksThe NPS Health Pension Scheme operates under a Multiple Scheme Framework (MSF). Subscribers contribute to the fund themselves, making it a contributory pension scheme. Any Indian citizen can voluntarily enroll in the program. Currently, the scheme is being offered a...

Chandigarh: At just 28, Ritika Gupta has become a shining example of perseverance and entrepreneurship. After facing two failed startups and a factory fire, the National Institute of Fashion Technology (NIFT) textile designer launched her women’s ethnic wear brand ‘Sanskritam’ in 2021 with a modest investment of only ₹50,000. Today, Sanskritam is a multi-crore business, celebrated for its inclusive sizing and innovative designs. Early ChallengesAfter completing her textile design course at NIFT Mumbai, Ritika worked with Skill India, training inmates at Tihar Jail in sewing. Driven by entrepreneurial ambitions, she left her job to start a men’s shirt business. However, as a woman entrepreneur, she faced numerous challenges, leading to heavy losses on an investment of ₹4 lakh. Later, she...

New Delhi: Domestic equity markets continued their upward momentum for the second consecutive session on Wednesday, fueled by optimism following the historic India-European Union Free Trade Agreement (FTA). The BSE Sensex surged 487.20 points, or 0.60%, to close at 82,344.68, having touched an intra-day high of 82,503.97 points. Meanwhile, the NSE Nifty gained 167.35 points, or 0.66%, ending the session at 25,342.75. Sectoral Highlights and Stock MoversAmong Sensex constituents, Bharat Electronics Ltd. (BEL) rallied nearly 9% after its December quarter results. Other gainers included Eternal, Bajaj Finance, Power Grid, Trent, Mahindra & Mahindra, and UltraTech Cement. In contrast, Asian Paints fell over 4%, while Maruti Suzuki, Sun Pharma, Infosys, and Bharti Airtel ended the day...

New Delhi: The world is increasingly seeking alternative trade routes beyond the United States, and the recently finalized India-European Union Free Trade Agreement (FTA) is a prime example. Policies pursued by US President Donald Trump have isolated America in global trade, eroding trust among allies and creating disruptions in supply chains. Trump’s approach—including high tariffs, withdrawal from international organizations, and transactional foreign policy—has strained relationships with traditional allies. This has disrupted global supply chains and weakened America’s international influence. Allies Moving AwayEven staunch allies such as the European Union have shown signs of distancing themselves. India, for instance, continues to face tariffs of up to 50% imposed under what it...

New Delhi: India has completed its proposals in the ongoing trade negotiations with the United States, and the responsibility to move the deal forward now rests with Washington. Senior government officials on Wednesday clarified that while public statements from members of the US administration should be viewed in context, the substantive details of the negotiations are known only to the US Trade Representative (USTR) and their team. A senior official stated, “India has done what it needed to do. Any public remarks from other US officials should be seen in this context. Now, the ball is in the US court.” Officials also highlighted that discussions with the US continued even while India was in the final stages of negotiating a Free Trade Agreement (FTA) with the European Union (EU), d...