Business

New Delhi: Gold and silver prices experienced a significant drop on Friday morning, with early trade on MCX showing sharp declines. March delivery silver fell by over ₹17,000 per kilogram, bringing the price down to around ₹3.82 lakh per kg. Gold also softened by nearly ₹3,000, trading at approximately ₹1.66 lakh per 10 grams. Both precious metals were in the red zone during early trading as investors booked profits following a strong rally this week. Earlier, prices had reached record highs, prompting partial profit-taking. By around 10:00 AM, silver recovered slightly to ₹3,88,000 per kg, still down ₹11,893, while gold traded at ₹1,67,298 per 10 grams, down ₹2,105. International Market Trends Globally, gold prices also eased on Friday, pressured by a strong US dollar. However, g...

New Delhi: Finance Minister Nirmala Sitharaman is set to present the Union Budget 2026 on February 1, marking a record ninth time in her career. The budget will be tabled in Parliament at 11:00 AM and is expected to address issues concerning both salaried individuals and industry players. Citizens will be able to access the budget details in Hindi and English through the official Union Budget Mobile App. For the common man, a key expectation is measures for affordable housing, as well as potential tax relief for the salaried class and GST incentives for industry. Cosmeceuticals Industry Looks for Relief The cosmetic and pharmaceutical market in India, collectively called cosmeceuticals, is evolving rapidly. Industry stakeholders hope that the 2026 Budget will recognize science-bas...

New Delhi: The Supreme Court on Thursday declined to hear a Public Interest Litigation (PIL) seeking a legal framework to set and enforce minimum wages for domestic workers. The petition highlighted the need to protect millions of domestic employees working in urban households through enforceable wage regulations. Court’s Observations The bench, headed by Chief Justice of India (CJI) Sunil Suryakant, observed that the court’s powers are limited and it cannot direct the central or state governments to amend existing laws. The CJI expressed concern that mandating minimum wages could have unintended consequences. “Once minimum wages are made compulsory, people might refuse to employ domestic workers. Tell me, how many industries have successfully managed labor unions? All the sugarc...

New Delhi: The winners of Wings India 2026 Awards were announced in Hyderabad, recognizing excellence across India’s aviation sector. Delhi Airport was honored as the ‘Best Airport of the Year’, while Hindustan Aeronautics Limited (HAL) received the ‘Atmanirbhar Bharat’ award. Other notable recognitions included Lucknow International Airport in the 5–10 million passengers per year category, and even states with historically lower air connectivity, such as Bihar, received awards for their proactive efforts. Airport Awards Delhi International Airport Limited (DIAL): Best Airport of the Year Kempegowda International Airport, Bengaluru: Best Airport for handling over 25 million passengers annually Pune Airport: Best Airport for 10–25 million passengers per year Lucknow Internat...

Bengaluru: Chartered Accountant Meenal Goel left stable jobs at Deloitte and KPMG to start her own business. The initial six months were extremely challenging, and the sharp questions from relatives during family gatherings only added to the pressure. But a single introspective question gave her the courage to persevere. Today, her company generates ₹50 lakh in revenue, proving that building one’s own empire is far more valuable than outward appearances. From Corporate Comfort to Entrepreneurial Risk Meenal had a successful corporate career in top firms like Deloitte and KPMG, earning a good salary and enjoying career stability. Yet, she aspired to create something of her own. She took the bold step to leave her job and launch her business. The first six months were tough. Busines...

New Delhi: Indian equity markets witnessed strong gains on Thursday, with both major indices closing higher amid buying in select blue-chip stocks and optimism following the Economic Survey 2025-26, which projected 6.8–7.2% growth for the next fiscal year. Market Summary BSE Sensex rose 221.69 points (0.27%) to close at 82,566.37, after hitting an intraday low of 81,707.94. NSE Nifty 50 gained 76.15 points (0.30%), finishing at 25,418.90, recovering from a morning low of 25,159.80. Top gainers included Tata Steel, which surged 4.41%, and Larsen & Toubro (L&T), up 3.66%. Other notable performers were Axis Bank, NTPC, Adani Ports, and ICICI Bank. On the flip side, shares of Asian Paints, InterGlobe Aviation (IndiGo), Maruti Suzuki, and Bharat Electronics witnessed de...

New Delhi: The Economic Survey 2026, presented in Parliament, has proposed a major change in the definition of public sector companies. Under the new recommendation, a company could be classified as government-owned even if the government holds only 26% stake, down from the current threshold of 51%. This move aims to facilitate partial divestment, improve management efficiency, and generate revenue for the exchequer. Key Recommendation The suggestion comes from Chief Economic Advisor V. Anantha Nageswaran and his team. They argue that even with a 26% stake, the government can influence major company decisions, making it possible to classify a firm as public-sector without holding a majority. This change would allow the government to ease the exit from companies it no longer wishes...

New Delhi: Precious metals hit historic highs in Delhi’s Sarafa market on Thursday, with silver crossing ₹4 lakh per kilogram for the first time and gold reaching its highest-ever level. Geopolitical tensions and economic uncertainty are driving investors toward safe-haven assets, fueling unprecedented demand for gold and silver. Silver Breaks ₹4 Lakh Barrier According to the All India Sarafa Association, silver has seen a fourth consecutive session of gains. On Thursday, silver prices surged by ₹19,500 (nearly 5%) to ₹4,04,500 per kilogram (including all taxes), up from ₹3,85,000 per kilogram on Wednesday. Over four trading sessions, silver has gained ₹84,500, setting a new domestic record. DaySilver Gain (₹)Closing Price (₹/kg)Friday9,5003,29,500Tuesday40,5003,70,000Wednesday15,...

New Delhi: Nobel laureate economist Abhijit Banerjee has described the India-European Union (EU) Free Trade Agreement (FTA) as a “strategic alignment” that sends a clear message to the United States: “India does not need the U.S. as much as the U.S. thinks it does.” Banerjee made these remarks amid high U.S. tariffs imposed under President Donald Trump’s administration. While the deal is expected to bring significant benefits for India, Banerjee cautioned that these advantages will not materialize automatically. He emphasized the urgent need for India to improve logistics, delivery speed, and overall efficiency to fully capitalize on the FTA, which has been dubbed the “mother of all deals.” Strategic Significance Speaking in an exclusive conversation, Banerjee noted that India has...

New Delhi: India and Canada have held high-level discussions in the capital to strengthen cooperation in energy security, critical minerals, and renewable energy. The meeting, considered highly significant, comes at a time when India recently finalized a Free Trade Agreement (FTA) with the European Union. Commerce and Industry Minister Piyush Goyal met with Tim Hudson, Canada’s Minister of Energy and Natural Resources, to explore ways to collaborate in areas crucial for both countries’ growth. India views Canada as a key partner because it possesses resources essential for accelerating India’s development. Meanwhile, China is reportedly observing the developments closely, given the strategic importance of critical minerals. Sharing images from the meeting on social media, Goyal menti...