Commerce Minister Piyush Goyal has called on states to identify import-substitutable products, aiming to boost domestic manufacturing, cut foreign exchange outgo, and strengthen supply chains. He also pushed for export committees and monthly reviews to support industries facing unfair trade practices. A 90-day drive will focus on 120 districts to increase exporter registrations and export
German software giant SAP is implementing hiring freezes, travel restrictions, and tighter control over external spending to fuel its significant investments in artificial intelligence. The company is prioritizing core AI roles and strategic acquisitions to bolster its AI capabilities. While internal travel is paused, essential trips for AI initiatives and customer engagement will continue, reflecting
India’s middle class, comprising 31% of the population, is identified as the nation’s primary growth engine, driving nearly all consumer spending. This demographic is expanding annually at 6.3% and is increasingly found in tier-two and tier-three cities, not just metropolises. Finance Minister Nirmala Sitharaman highlighted that around 500 cities are set to become new economic
Contrary to popular belief, Samsung leads India’s smartphone sales via easy monthly installments, outpacing even Apple. Vivo and Oppo also show strong performance in this growing financing market. As component costs rise, pushing up device prices, financing is becoming crucial for consumers, especially in smaller cities. Brands with robust offline networks are leveraging this trend
Recent cyberattacks on Bajaj Auto and Tata Electronics have underscored the escalating cyber risks for India’s manufacturing sector. As factories embrace automation and AI, their increased connectivity creates larger vulnerabilities. Experts warn that these breaches, which can halt production and compromise sensitive data, threaten intellectual property crucial for India’s ‘China-plus-one’ strategy. Strengthening cybersecurity measures is
Indian banks witnessed robust credit growth in the June 2026 quarter, with some lenders seeing advances surge significantly. However, a widening gap emerged as deposits declined for select banks like Bank of Baroda, IDBI, and RBL. Public sector banks maintained a steadier credit-deposit growth, while private lenders adjusted liabilities. Factors like a new credit guarantee
Prime Minister Narendra Modi inaugurated the new Jodhpur airport terminal, a significant boost for tourism and connectivity, blending modern design with Rajasthani heritage. He also launched the Modified UDAN scheme from Jodhpur, aiming to enhance regional air connectivity nationwide by developing 100 aerodromes and supporting airline operations. This infrastructure push is set to invigorate commerce
India is set to contest proposed US tariffs on its exports next week, arguing that the US Trade Representative’s findings on alleged forced labour are legally flawed. Indian officials and industry bodies will present counter-arguments, emphasizing the country’s robust legal framework and compliance systems. They contend the tariffs would harm both Indian exporters and American
India aims for a monumental $1 trillion in exports this fiscal year, a goal enthusiastically embraced by industry and policymakers. Union Minister Piyush Goyal confirmed the ambitious target, highlighting strong growth in both merchandise and services sectors. Recent free trade agreements and a seven-point action plan are set to bolster this drive, with a significant
India’s IT Minister Ashwini Vaishnaw has ordered officials to summon Meta following reports of Instagram advertisements featuring child sexual abuse material. This action highlights growing concerns about objectionable content on social media and the effectiveness of content moderation on platforms like Instagram. The ministry is seeking answers regarding the platform’s handling of such serious issues.
