Business & Economy

New Delhi: The world is watching closely as India and the European Union (EU) move toward finalizing a historic Free Trade Agreement (FTA). The formal announcement of the deal is expected on 27 January 2026, a day after India’s Republic Day celebrations, with top EU leaders attending as chief guests. Europe Calls It the “Mother of All Deals”Ursula von der Leyen, President of the European Commission, said the EU is very close to finalizing the FTA with India. Addressing the World Economic Forum in Davos, she referred to the deal as “the mother of all deals” and emphasized Europe’s desire to expand trade and cooperation globally. Creating a Market of 2 Billion PeopleVon der Leyen highlighted the scale of the proposed agreement, which would create a market for 2 billion people, represen...

New Delhi: India’s leading fintech company, PhonePe, is preparing to launch its Initial Public Offering (IPO) and give investors an opportunity to participate in its growth story. The IPO is expected to raise approximately ₹12,000 crore (USD 1.3 billion) and has already received regulatory approval from SEBI. Owned by Walmart, PhonePe’s IPO could become the second-largest market debut by an Indian startup. The funds raised will come through an Offer for Sale (OFS), meaning existing shareholders – including Tiger Global, Microsoft, and Walmart – will sell their shares, and the company itself will not raise any fresh capital. PhonePe had submitted its IPO application confidentially last September and will soon file an updated draft prospectus with SEBI. IPO Timeline and Company Overvie...

Bengaluru: A Bengaluru-based couple left their corporate jobs to start a vintage saree business that evokes the nostalgia of “grandma’s wardrobe.” Founded in 2021, Nerige Story now generates a monthly revenue of ₹1 crore. Pooja Nadig and Shashank Sivapurapu noticed a gap in the modern fashion landscape, where contemporary saree designs were increasingly losing the emotional and cultural connection of traditional handlooms. With this insight, they launched Nerige Story – “Nerige” meaning “pleats of a saree” in Kannada. The venture reflects more than just a business; it is a story of courage, creativity, and returning to roots. Pooja, a former software tester at TCS, and Shashank, an MBA graduate, started the business with a savings of ₹3 lakh. Today, the brand has not only gained reco...

New Delhi: Domestic equity markets witnessed a sharp decline on Tuesday, following global cues and rising international tensions. Both major indices closed lower, with the BSE Sensex dropping 1,065.71 points to settle at 82,180.47, while the NSE Nifty 50 fell 353 points to close at 25,232.50. The slump was driven by weak global markets, a continuing depreciation of the Indian rupee against the US dollar, and sustained foreign investor selling. During intraday trading, the Sensex hit a low of 82,010.58, down 1,235.6 points from its previous peak. This marked the second consecutive day of losses for domestic markets, following Monday’s decline of 324.17 points in the Sensex and 108.85 points in the Nifty. Among Sensex constituents, Eternal saw the steepest fall of 4.02%, followed by Ba...

New Delhi: While the United States exerts pressure on European nations over Greenland and trade tariffs, India has taken a more calculated approach in its negotiations with Washington, gaining a strategic advantage. Europe Under Pressure The US has been pressing European countries regarding Greenland, weakening last year’s trade agreements with the European Union (EU) and the United Kingdom (UK). Despite these agreements, former President Donald Trump threatened tariffs on nations opposing his Greenland ambitions, putting EU legislators on the verge of blocking approval of the EU-US trade deal. According to the Financial Times, European nations are now preparing retaliatory measures worth €93 billion, including tariffs and restricted market access for US companies. Reuters reports...

Mumbai: Amid limited high-return investment options for retail investors, the Securities and Exchange Board of India (SEBI) last year approved a new investment vehicle: Specialized Investment Funds (SIFs). Now, ICICI Prudential Mutual Fund, one of India’s top asset management companies, has launched two investment strategies under the SIF framework, signaling growing interest in this space. Top AMC Launches New Strategies Among India’s leading AMCs—SBI, ICICI Prudential, and HDFC AMC—ICICI Prudential has introduced two new strategies under the SIF segment: iSIF Equity Ex-Top 100 Long-Short Fund iSIF Hybrid Long-Short Fund Both strategies are now open for subscription through the New Fund Offer (NFO) until 30 January 2026. They are designed for investors seeking flexible po...

New Delhi: Gold prices continue their relentless upward trajectory, fueled not only by individual buyers and large investors but also by central banks across the world. The surge highlights that in times of economic and geopolitical uncertainty, gold remains a critical safe-haven asset. India and China’s Strategic Shift A significant factor behind the rising prices is increased gold purchases by the central banks of India and China. Both nations have reduced their investments in US Treasury bonds while boosting their gold holdings. This is not a short-term portfolio adjustment but a strategic shift in reserve management. RBI’s Strategic Move India’s foreign exchange reserves reflect a calculated policy by the Reserve Bank of India (RBI) to diversify away from US government debt...

New Delhi: India and the United Arab Emirates (UAE) on Monday announced a significant trade and investment partnership, aiming to double bilateral trade to $200 billion by 2032. The agreement covers multiple key sectors including energy security, defense cooperation, space, food exports, investment, and advanced computing. The deal was finalized during a one-day visit of UAE President Sheikh Mohammed bin Zayed Al Nahyan to India. Following discussions with Prime Minister Narendra Modi, Foreign Secretary Vikram Mishra briefed the media, highlighting the growing economic ties between the two nations since the implementation of the Comprehensive Economic Partnership Agreement (CEPA). He also noted that the UAE has become India’s second-largest supplier of Liquefied Natural Gas (LNG). En...

New Delhi: Former promoters of India’s leading pharmaceutical company Ranbaxy, brothers Shivinder Singh and Malvinder Singh, are once again at odds. The latest dispute centers on the Flight Lieutenant Rajan Dhal Charitable Society, involving property worth ₹500 crore and its annual revenue of ₹30 crore. A Legacy of Conflict The Singh brothers once held significant sway over India’s healthcare sector. The Ranbaxy story began in 1937 when cousins Ranbir and Gurbax started a pharmaceutical distribution company. The name “Ranbaxy” combined the first letters of Ranbir and the last letters of Gurbax. The company was sold to Mohan Singh in 1952, and later, his son Parvinder Singh took over. After Parvinder’s death in 2000, Shivinder and Malvinder Singh managed the company and owned major he...

Chennai: Conventional wisdom suggests that startups are for those in their 20s or 30s. But Lokeswaran Kannan from Chennai has completely rewritten that narrative. After a 28-year career in IT, reaching senior positions in a multinational company, Kannan made a bold move at the age of 48—he quit his secure job to start his own venture. Many called him “crazy,” but he had a vision. With just ₹1 lakh, a table, a chair, and a fan, he founded eOrbitor in December 2019. Today, the company has grown into a leading systems integrator, specializing in data center maintenance, cybersecurity, and cloud services, serving major clients like Gujarat Metro, Ashok Leyland, and Zoho. In just five years, the company has achieved a turnover of ₹15 crore, proving that determination matters more than age. ...