Business & Economy

New Delhi: India’s defence exports have surged dramatically in recent years, positioning the country to emerge as a major player in the global arms market. Amidst geopolitical turmoil, trade disruptions, and increasing military conflicts worldwide, India now has a unique opportunity to expand its defence industry and reduce reliance on imports. Experts note that countries of the Global South, in particular, could become key markets for Indian-made weaponry. A Transformative Decade Over the past decade, India’s defence sector has undergone a profound transformation. Once entirely dependent on imports and dominated by state-owned companies, the sector has benefited from policy reforms, institutional changes, and government prioritisation, leading to a near-complete overhaul. Today, wit...

New Delhi: The year has started on a rocky note for the world’s wealthiest. Among the top 10 billionaires globally, six have seen a decline in their net worth, with Reliance Industries chairman Mukesh Ambani suffering the biggest loss. In contrast, Amazon founder Jeff Bezos has emerged as the biggest gainer so far this year. Ambani’s Net Worth Takes a Hit Shares of India’s most valuable company, Reliance Industries, continued to slide on Thursday, causing Mukesh Ambani’s net worth to fall by $2.59 billion to $101 billion. According to the Bloomberg Billionaires Index, Ambani has lost $6.54 billion this year, making him the biggest wealth-loser among the global elite. Ambani ranks 18th globally and first in Asia. If Reliance shares continue their decline, he could even fall out of ...

New Delhi: Finance Minister Nirmala Sitharaman is set to present the Union Budget on February 1, 2026. A major highlight could be a ₹23,000 crore incentive package aimed at promoting domestic manufacturing of high-tech capital goods and reducing dependence on imports—especially from China. Incentives to Strengthen Domestic Production Officials say the government is finalizing plans to boost local production of high-tech construction and automotive equipment. For construction machinery, a ₹14,000–16,000 crore incentive program is nearing completion. Additionally, a ₹7,000 crore scheme is being prepared to strengthen India’s position in the global automotive value chain (GVC). Together, these initiatives aim to make India self-reliant in capital goods manufacturing. Focus on Constru...

New Delhi: Coal India, SAIL, Tata Steel, L&T, ACC, Ultratech, and other major industrial companies have received relief following a Supreme Court ruling: heavy vehicles that operate exclusively within mines, factories, and construction sites will no longer be required to pay road tax. Supreme Court Clarifies A bench led by Justice Pankaj Mithal ruled on Thursday that industrial and construction machinery—such as dumpers, excavators, and surface miners—used exclusively within factories, mines, or closed areas are not considered motor vehicles under the Motor Vehicles Act. Consequently, these vehicles are exempt from road tax. This decision overturned a 2011 Gujarat High Court ruling and came in response to an appeal by Ultratech Cement. The Court emphasized that these vehicles ...

New Delhi: Good news for private sector employees: the government is preparing a major initiative to bring millions of workers under the social security umbrella. Plans are underway to raise the Employees’ Provident Fund Organisation (EPFO) monthly salary limit from ₹15,000 to between ₹25,000 and ₹30,000. What the Salary Limit Means The salary limit determines the basic salary threshold on which contributions to the provident fund (PF) are legally mandatory. Under current rules, if an employee’s basic salary exceeds ₹15,000, contributing to PF is optional. According to reports, the government had previously considered raising the limit to ₹25,000 but shelved the plan due to opposition from companies, which argued that it would increase their financial burden. Meanwhile, employee u...

New Delhi: Cryptocurrencies and other virtual digital assets (VDAs) continue to spark debate globally. India remains one of the countries that has yet to formally approve cryptocurrencies. The Reserve Bank of India (RBI) has already voiced strong opposition, and now the Income Tax Department has highlighted major risks associated with these digital assets. Concerns Raised by Income Tax Authorities During a presentation to the Parliamentary Finance Committee, tax officials emphasized that cryptocurrencies enable instant money transfers across borders without banks or government intermediaries. Identities can remain hidden, making the system difficult to monitor. The department pointed out that foreign exchanges, private digital wallets, and decentralized platforms make it nearly im...

New Delhi: Age is just a number—and sometimes, it can be the perfect time to start a business. Beena Tom, 56, from Kerala, is a living example. Starting from her home garden, she has built a thriving enterprise, producing and selling a wide range of products made from the fruits and vegetables she grows. Today, her business earns her several lakhs of rupees annually. From Hobby to Enterprise Beena’s business, Bees of Beena, offers more than 140 products, including homemade pickles, jams, squash, juices, chips, pulps, and honey. Her products have gained popularity both online and offline, with orders coming from across India. She now delivers to cities like Bengaluru, Lucknow, and Mumbai, expanding far beyond Kerala. The Beginning Beena’s journey began in 2017, after her husband...

Mumbai: Bharat Coking Coal Ltd (BCCL), a subsidiary of India’s largest coal mining company Coal India Ltd (CIL), is opening its Initial Public Offering (IPO) to the public today, 9 January 2026. Investors can place bids until 13 January 2026, with the company expected to list its shares on the BSE and NSE on 16 January 2026. This marks the first mainboard IPO of 2026. Price Band and Offer Details The IPO is priced in the range of ₹21 to ₹23 per share. At the upper end of the price band, Coal India Ltd stands to raise approximately ₹1,071 crore. As this is a complete Offer for Sale (OFS), BCCL will not receive any proceeds; the entire amount will go to its parent company, Coal India Ltd. Grey Market Response BCCL has received a strong response in the grey market. As of the morni...

New Delhi: The Indian stock market faced significant selling pressure on Thursday, with all major indices closing sharply lower. The Sensex dropped 780.18 points (0.92%) to close at 84,180.96, while the Nifty 50 fell 263.90 points (1.01%) to 25,876.85. Market analysts attribute the decline to concerns over potential U.S. tariff hikes and continued foreign institutional investor (FII) selling. Sector-Wise Performance Metal stocks were the biggest drag on the market, with the Nifty Metal Index plunging 3.40%. Other sectors also ended in the red: Nifty Energy: -2.89% Nifty Oil & Gas: -2.84% Nifty PSE: -2.48% Nifty Commodities: -2.40% Nifty PSU Bank: -2.08% Nifty IT: -1.99% Nifty Realty: -1.71% Nifty Pharma: -1.39% No major index managed to close in the g...

New Delhi: The chill in India-China relations appears to be thawing, with the two countries moving closer in trade and economic cooperation. Following U.S. President Donald Trump’s tariffs last year, India and China have rekindled economic ties, and the Indian government is reportedly considering a major policy shift. According to Reuters, India may soon reopen government contracts to Chinese companies—a significant move, given that these firms have been excluded from public tenders since 2020. Proposed Changes Sources indicate that the Finance Ministry is drafting a proposal to remove rules that required Chinese companies to register with a government panel and obtain security clearance before participating in government tenders. These rules were implemented following violent clashe...