New Delhi, Oct 13 (SocialNews.XYZ) Tata Sons Chairman N. Chandrasekaran on Tuesday made a case for patient capital in strategic sectors such as semiconductors, saying their long-term importance for India matters more than whether near-term targets are met.

Speaking at the Bloomberg New Economy Forum 2026 here, Chandrasekaran said whether targets are met in two years or three years is not the point as chips are going to be fundamentally required.

He said the world has faced hard times before, but what sets this moment apart is that geopolitical disruption, commodity shocks and supply chain crises are happening at the same time.

“Directionally, if you design it on the belief that it is needed for India, it is needed for mankind and for enterprises, you will get it right. It doesn't mean everything will be smooth,” he said.

He further highlighted that India's electronics exports have risen from about $12 billion five years ago to $48 billion this year.

Chandrasekaran said ambition must be matched with financial discipline.

“You need to keep an eye on the balance sheet. So you can't be reckless,” he said.

He said announcing a 2-nanometer chip would not work and Tata has to follow demand, adding that India needs global partners because it does not yet have all technologies.

Yardsticks for any investment are its importance for India, its businesses and people, jobs it creates and its financial viability, he said. While direction and need are certain, how fast to ramp up and which technologies to pursue remain uncertain, he added.

Moreover, Chandrasekaran pushed back on idea that resilience comes at cost of efficiency, saying that in volatile environment designing for resilience is itself way to optimise for efficiency.

He cited cyber attack that cost Jaguar Land Rover almost six weeks of production and supply disruptions such as magnet shortages that can halt vehicle output.

Despite shocks, the group is still set to deliver double-digit growth with margins holding up, he said.

Source: IANS

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Chennai, Oct 13 (SocialNews.XYZ) The technology innovation hub of the Indian Institute of Technology (IIT) Madras, Pravartak Technologies Foundation, has signed a Memorandum of Understanding with Hyderabad-based defence AI company, Medhastra Techsystems Private Limited, to promote indigenous innovation in defence artificial intelligence.

The MoU was signed at IIT Madras in the presence of Prof. V. Kamakoti, Director, IIT Madras, and Dr. M. J. Shankar Raman, CEO, IITM Pravartak. Air Vice Marshal R. Guruhari (Retd.), Chief Advisor- Defence, Medhastra, was also present, according to a statement.

“The partnership is part of IITM Pravartak's wider effort to build India's capability in strategic and defence technologies by connecting cutting-edge academic research with deep-tech companies that can take it to the field,” said the press release.

IITM Pravartak and Medhastra Techsystems will collaborate on a range of strategic AI initiatives to develop indigenous, field-ready solutions tailored for the Indian Armed Forces.

Highlighting the goal of supporting the vision of Aatmanirbhar Bharat, Dr MJ Shankar Raman, CEO, IITM Pravartak, said: "IITM Pravartak is committed to nurturing indigenous technologies that strengthen India's strategic self-reliance. Defence Al is an area where India must build its own capability, and we are pleased to welcome Medhastra into the IIT Madras ecosystem. By combining the Institute's research strengths with Medhastra's focus on defence applications, we aim to accelerate the journey from laboratory to deployment and support the vision of Aatmanirbhar Bharat."

IIT Madras' innovation ecosystem is one of India's leading environments for research, deep-tech start-ups and technology translation, and after the collaboration, Medhastra becomes part of the association, which will give Medhastra closer access to the Institute's research expertise and innovation network for joint research, faculty collaboration, lab access and student engagement, strengthening its work on sovereign defence AI.

Founder and CEO of Medhastra Techsystems, Abinav Varma Kalidindi said, "Becoming part of the IIT Madras ecosystem is a proud moment for Medhastra. IIT Madras and IITM Pravartak have set the benchmark for turning Indian research into real-world impact.”

“We are grateful to Prof. Kamakoti and Dr Shankar Raman for their vision and for their trust in us. Together, we look forward to building sovereign defence AI that is designed, developed and made in India," he added.

This strategic agreement underscores an accelerating momentum to bridge the gap between academic research and industrial capability. By fostering this synergy, the partnership aims to deliver homegrown defence technologies that directly advance the Government of India’s vision for an Aatmanirbhar Bharat.

Source: IANS

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Mumbai, Oct 13 (SocialNews.XYZ) Amid growing concerns over health and environmental issues in the wake of Maharashtra's push to position the state as the leading data centre hub in the country, the government has constituted a committee chaired by former Atomic Energy Commission Chairman Dr Anil Kakodkar to study the impact.

The government issued a Government Resolution (GR) late Monday night for the establishment of a high-level committee. Chaired by former Atomic Energy Commission Chairman Dr Anil Kakodkar, the committee will comprehensively study the environmental, infrastructural, and socio-economic impacts of data centres across the state and recommend corrective and strategic policy measures.

The formation of the committee follows a calling attention motion raised by members of the Maharashtra Legislative Council under Rule 101 during the 2026 Monsoon Session. Lawmakers had voiced concerns regarding the massive demands data centres place on electricity, water, land, existing water resources, and core infrastructure, alongside potential issues such as temperature rises, noise pollution, environmental degradation, and effects on local citizens' daily lives. In response, the Minister for Industries, Uday Samant, had assured the legislature that a comprehensive committee of domain experts would be formed.

The newly formed committee brings together top administrative heads, industry leaders, and technical experts.

Headed by Dr Anil Kakodkar, former Chairman, Atomic Energy Commission, the members include Additional Chief Secretary, Energy Department, Mantralaya; Principal Secretary, Water Resources Department; Principal Secretary, Industries, Energy and Labour Department; Principal Secretary, Environment and Climate Change Department; Chief Executive Officer, Maharashtra Industrial Development Corporation (MIDC); Commissioner (Industries), Directorate of Industries; Chairman and Managing Director, Maharashtra State Electricity Distribution Company Ltd. (MSEDCL); Chairman and Managing Director, Maharashtra State Electricity Transmission Company Ltd. (MSETCL); Dr S. Venkat Mohan, Director, CSIR-National Environmental Engineering Research Institute (NEERI), Nagpur; Prof M.V. Rane, Professor, Department of Mechanical Engineering, IIT Bombay; Prof Dr Shamita Kumar, Principal, Institute of Environment Education and Research, Bharati Vidyapeeth, Pune; Srinivasa P., Senior Vice President, Data Center Design, Yotta Data Services; Prasad Kalyanraman, Vice President, Infrastructure Services, Amazon Web Services; Prof Dr Shyam R. Asolekar, Managing Director, Preventive Environmental Management Techno-Legal Consultants Pvt. Ltd., Mumbai while Commissioner (Services), Directorate of Services will be Member Secretary.

The committee will invite relevant government officials and domain specialists as required for discussions.

The committee's mandate focuses on objective, scientific, and technical evaluation to shape sustainable operations, including conducting scientific assessments of data centre impacts on the environment, water, energy, air, noise, and local ecosystems, investigating and addressing public misconceptions surrounding data centers, studying domestic and international best practices to establish guidelines for energy-efficient, green, and sustainable data centers, recommending water conservation, water recycling, and alternative cooling technologies, formulating public awareness and communication frameworks for local villagers, local self-government bodies, and public representatives.

Further, the committee is tasked with recommending a standardised Standard Operating Procedure (SOP) for data centres in the state alongside cross-departmental administrative improvements and proposing measures to enhance local employment, skill development, and Corporate Social Responsibility (CSR) initiatives.

The committee is mandated to submit its final report to the state government within three months from the date of the government resolution. Administrative, technical, and financial assistance will be provided by MIDC, the Directorate of Services, and the Directorate of Industries.

Source: IANS

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New Delhi, Oct 13 (SocialNews.XYZ) Nandan Nilekani -- Infosys co-founder and chairman of High-Powered Task Force on Examination Reforms for NTA -- on Tuesday said India will be a leader in how AI is diffused and delivered to people on a large scale.

Speaking at the Bloomberg New Economy Forum here, Nilekani said everyone is saying AI is GPT, but no one can control GPTs.

He further noted that AI will not be a winner take all, but there will be a huge number of players, he said.

You cannot bottle this technology, a lot more chips will come and this is not a winner take all technology, Nilekani said.

Our experience on build out large-scale technologies will help in AI as well, he added.

Requirement for companies like Infosys is increasing and more work is going to come our way, Nilekani said, adding that predicting doom for such companies is just disaster marketing.

Earlier in the event, Prime Minister Narendra Modi said that India has chosen the path of empowering humanity.

"We supplied vaccines to more than 100 countries. Our manufacturing capabilities also became a means of support for other countries," he added.

The Prime Minister further noted let me give you another interesting example. A few months ago, India hosted the AI Impact Summit, which Bloomberg has also praised highly. At the summit, along with discussing the use of AI for humanity, we also discussed how animals could benefit from AI.

According to him, opportunities for innovation are reaching more people. New talent is emerging, and new solutions are being developed.

“After 2014, when a new government was formed in India and we got the opportunity to serve, India focused on making mobile data affordable. As a result, today, a student in a small town can access digital learning. A small shopkeeper in a village can reach new customers. A young person can enrol in new online courses,” PM Modi said.

Source: IANS

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New Delhi, Oct 13 (SocialNews.XYZ) Pitching idea of ‘power to empower’, Prime Minister Narendra Modi on Tuesday said technology, data, knowledge and innovation are power and real value of lies in its purpose.

Addressing the Bloomberg New Economy Forum here, PM Modi said theme of this year's forum is on emerging powers and in third decade of 21st century big change is happening, where technology, data, knowledge and innovation is power.

The question is not who holds power but how it is used, whether technology will advance only few people or create opportunities for crores of people, he said.

This is where new idea is born and that idea is "power to empower", PM Modi said.

"Beyond power to control lies power to enable, beyond power to compete lies power to collaborate, beyond power to succeed lies power to help others succeed," he said, adding that it is very important to understand value of power in the current era.

PM Modi said India is 'mother of democracy' with more than 100 languages, about 80,000 registered newspapers and publications, more than 1,000 satellite TV channels and over 500 million YouTube users and over 500 million Instagram users in era.

In India, there is open debate on different issues, public discusses different viewpoints and digital power has played big role in present times, he said.

He said 12-13 years ago mobile internet reach was also a power, whoever had access had information, knowledge and opportunity.

After 2014, when new government got opportunity to serve, India focused on making mobile data affordable, he said.

As result, even small shopkeeper in village can reach customer, PM Modi said, adding that in India connectivity has not only connected people but also connected and offered opportunities and this is power to empower.

Source: IANS

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New Delhi, Oct 13 (SocialNews.XYZ) Zoho's Chief Scientist and Co-founder Sridhar Vembu on Tuesday said that we have cut down on our marketing budget and told employees that we cannot have our usual pay increase this year.

The business outlook for software is uncertain and AI has raised costs dramatically, he wrote in a post on X.

Vembu further noted that there has been four-fold increase in server prices needed for data centres and AI usage is increasing rapidly, leading to much higher expenses which company is trying to control.

On top of that is challenging geopolitical backdrop, he added.

"We have cut down on our marketing budget. We have also told our employees that we cannot have our usual pay increase this year. I have apologized for not being able to avoid this," Vembu said in a post.

"We will work hard to avoid mass layoffs but outlook for software jobs in general is grim. We have not been growing our employee count for 18 months now," he said.

Most of employees understand situation and I am thankful to them, he added.

"We are in middle of reinventing ourselves. Next 3-5 years will decide how our reinvention has worked. Please pray for us," Vembu said.

Earlier in May, Vembu cautioned that soaring valuations of world's largest technology companies, fuelled by investor enthusiasm around artificial intelligence, exhibit characteristics of market bubble that could eclipse dot-com era.

He highlighted price-to-sales ratios of major technology firms, arguing that current market valuations appear increasingly detached from underlying business fundamentals.

Moreover, he had cited companies such as Nvidia, Apple, Alphabet, Microsoft, Meta Platforms and Micron Technology, noting that several are trading at elevated multiples of their annual revenues.

To underline concerns, Vembu referenced remarks made by Scott McNealy following collapse of dot-com bubble in early 2000s.

McNealy had argued that investors paying ten times company's annual revenue would need extraordinary performance and profitability over many years to justify such valuations, he added.

Software business outlook uncertain, AI raised costs dramatically: Zoho co-founder Sridhar Vembu.

Source: IANS

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Mumbai, Oct 13 (SocialNews.XYZ) India equity benchmark indices opened flat on Tuesday amid buying in IT and realty sector shares.

At the opening bell, Sensex was at 71,951.73, up 27.05 points or 0.04 per cent. Meanwhile, Nifty began trading session at 22,364.15, up 0.80 points or flat.

Sector-wise, Nifty IT, Nifty Midsmall IT & Telecom and Nifty Realty jumped up to up 2 per cent. Nifty PSU Bank was up 0.31 per cent, Nifty FMCG up 0.22 per cent and Nifty Oil & Gas up 0.20 per cent.

On the downside, healthcare and pharmaceuticals shares witnessed selling pressure as Nifty Midsmall Healthcare fell, Nifty 500 Healthcare, Nifty Pharma and Nifty Healthcare declined up to 0.75 per cent.

Market experts said there are no triggers to change ongoing trend of sustained FII selling and DII buying in the cash market.

But with the US 10-year bond yield above 5.2 per cent, FIIs are likely to continue selling in cash market. With net inflows into mutual funds touching a record high of Rs 38,307 crore in September, DIIs will continue to absorb selling from FIIs, experts said.

Moreover, CPI inflation at 5.54 per cent came on expected lines with food inflation at 7.74 per cent and Brent above $100. A rate hike by the RBI in December is a foregone conclusion and will be margin accretive for banks, they added.

Technical analysts said recovery construct has weakened significantly, but day will start with hopes of bounce back as yesterday's slippage paused without breaking the recent low.

Such an upmove would need to push beyond 22,435 to signal strength, inability to do so could pave way for drop to 22,070-21,900, they said.

Additionally, Asian equities traded lower as AI rally came under fresh pressure ahead of key earnings season.

Nasdaq ended lower on Monday as oil prices surged following attacks on Saudi airport, while investors awaited start of third-quarter bank earnings and key economic data this week.

Source: IANS

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Seoul, Oct 13 (SocialNews.XYZ) Seoul shares opened sharply lower on Tuesday, as losses in US technology stocks weighed on investor sentiment ahead of major companies' earnings reports and the release of U.S. inflation data.

Bourse operator activated a sell-side sidecar for the benchmark Korea Composite Stock Price Index (KOSPI) as the stock index dropped.

After opening 3.1 percent lower, the benchmark Korea Composite Stock Price Index extended losses, trading down 257.59 points, or 4.03 percent, to 6,126.65 as of 9:15 am, reports Yonhap news agency.

Overnight, U.S. stocks ended mixed, with the Dow Jones Industrial Average rising 0.38 percent and the tech-heavy Nasdaq Composite falling 0.44 percent.

Investors are awaiting the U.S. consumer price index report due Wednesday (U.S. time), which could offer further clues about the Federal Reserve's policy outlook ahead of its October rate-setting meeting.

In Seoul, tech stocks led the decline. Market behemoth Samsung Electronics fell 4.79 percent, and its chipmaking rival SK hynix declined 5.61 percent.

Defence giant Hanwha Aerospace dropped 3.71 percent, and top carmaker Hyundai Motor shed 5 percent.

Among gainers, Hybe, the agency behind K-pop boy band BTS, rose 1.47 percent and rival entertainment agency SM climbed 1.8 percent.

The Korean won was trading at 1,335.70 won against the U.S. dollar, up 0.1 won from the close of the previous stock trading session.

Meanwhile, sales of bonds and certificates of deposits (CDs) in South Korea rose more than 11 percent in the third quarter of this year from a year earlier, data showed on Tuesday.

The value of debt instruments issued during the third quarter came to 178.3 trillion won (US$134 billion), up 11.1 percent from a year earlier, according to the data from the Korea Securities Depository.

Bond sales jumped 13.8 percent on-year to 166.4 trillion won, while CD issuance sank 16.8 percent to 11.9 trillion won.

Compared with a quarter ago, however, sales of bonds and CDs fell 1.9 percent.

The Bank of Korea lifted its key rate to 3 percent over two straight meetings in July and August, marking the first back-to-back rate hikes since January 2023.

Source: IANS

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New Delhi, Oct 13 (SocialNews.XYZ) A training target of 6.35 lakh rural youth has been given to the Rural Self Employment Training Institutes (RSETIs) in the country for the current financial year, which is more than the training target fixed for 2025-26, according to the government.

In a significant step towards strengthening rural entrepreneurship and promoting sustainable livelihood opportunities, the Ministry of Rural Development (MoRD) exchanged a Memorandum of Understanding (MoU) with the National Academy of RUDSETI (NAR).

The aim is to establish uniform training standards, ensure quality administration and facilitate systematic capacity building across RSETIs in the country.

According to an official statement, a key focus of the partnership will be to improve candidate registration through Kaushal Panjee and Aadhaar-based face authentication through the Aadhaar Enabled Biometric Attendance System (AEBAS), while enhancing the quality and relevance of training delivered through RSETIs.

This will include the implementation of National Skills Qualifications Framework (NSQF)-aligned new-age courses, the adoption of industry-benchmarked training aids and equipment, and the delivery of core Entrepreneurship Development Programme (EDP) courses as notified by MoRD.

The partnership will also strengthen Training of Trainers (ToT), assessment and certification of trainees and trainers through the Unified Portal (kaushal.rural.gov.in), and compliance with the Common Norms notified by the Ministry.

The MoU marks an important step towards strengthening the RSETI ecosystem through improved training quality, institutional capacity, digital governance and outcome-oriented monitoring.

By reinforcing the link between skill development, entrepreneurship and sustainable livelihoods, the partnership seeks to enhance the capacity of rural youth to establish viable enterprises and contribute to inclusive rural economic growth, said the statement.

The MoU exchange took place in the presence of Rohit Kansal, Secretary, Department of Rural Development. It marks an important step towards reinforcing the RSETI ecosystem and strengthening its role in rural skill development, entrepreneurship promotion and livelihood generation.

—IANS

na/

Source: IANS

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New Delhi, Oct 12 (SocialNews.XYZ) HCLTech on Monday said that it has added 6,450 employees on a net basis in the September quarter, marking its highest quarterly workforce addition in 16 quarters and taking its total headcount to a record 230,339 as of September 30. The sharp increase reversed the decline recorded in the previous quarter, when the IT services major reported a net reduction of 3,292 employees.

Freshers accounted for the bulk of the hiring, with 6,136 new employees joining during the September quarter. This was significantly higher than the 1,056 freshers added in the June quarter and 1,712 in the March quarter, as per its stock exchange filing.

HCLTech’s workforce had remained relatively volatile over the preceding four quarters. Its headcount stood at 226,640 at the end of September 2025 before declining to 226,379 in December. Employee numbers subsequently rose to 227,181 in March 2026 but fell to 223,889 in June, before recovering sharply in the latest quarter.

The expansion in employee numbers came alongside a marginal increase in attrition. The company’s last-twelve-month attrition rate rose to 12.8 per cent in September from 12.7 per cent in June and 12.5 per cent in March. Meanwhile, women accounted for 30 per cent of the workforce at the end of September, up from 29.6 per cent in each of the previous two quarters.

HCLTech said its annual salary increments would take effect from October 1, a development that will add to employee-related costs in the coming quarters.

The hiring momentum coincided with an improvement in the company’s financial performance. HCLTech reported a net profit of Rs 5,132 crore for the September quarter, up 11 per cent sequentially from Rs 4,624 crore in the June quarter. Revenue increased 3 per cent to Rs 35,620 crore from Rs 34,579 crore in the preceding quarter.

The company also revised the lower end of its FY27 constant-currency revenue growth guidance upwards to 2.5 per cent from 1 per cent, while retaining the upper end at 4 per cent. Its board recommended an interim dividend of Rs 12 per share for FY2026-27.

-

Source: IANS

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New Delhi, Oct 12 (SocialNews.XYZ) India's total internet subscriber base increased to 1.114 billion at the end of June 2026 from 1.093 billion three months earlier, registering a quarterly growth of 1.96 per cent, according to the Telecom Regulatory Authority of India (TRAI) on Monday.

The growth was driven by continued expansion in broadband and wireless internet adoption across the country. Of the total internet subscribers, 1,066.43 million were wireless internet users, while 47.73 million were wired internet subscribers.

The internet subscriber base comprised 1,087.50 million broadband users and 26.67 million narrowband users. Broadband subscriptions rose 2.03 per cent during the quarter from 1,065.88 million, while narrowband subscribers declined marginally by 0.89 per cent.

The telecom regulator said the overall telephone subscriber base in India increased by 1.31 per cent on a quarterly basis to 1,348.08 million at the end of June 2026 from 1,330.58 million in March. The country's tele-density also improved to 94.31 per cent from 93.26 per cent during the period.

Wireless subscriptions remained the primary growth driver. The total wireless subscriber base, including mobile and fixed wireless access (FWA) users, rose by 17.92 million to 1,300.25 million, while the mobile subscriber base alone increased by 16.66 million to 1,282.38 million. Wireless tele-density climbed to 90.96 per cent from 89.88 per cent in the previous quarter.

The report showed that telecom operators continued to improve monetisation. Monthly average revenue per user (ARPU) for wireless services increased 1.19 per cent sequentially to Rs 187.12.

On a yearly basis, wireless ARPU grew 3.11 per cent. Prepaid subscribers generated an average monthly ARPU of Rs 200.72, while postpaid users generated Rs 114.26.

At the same time, average revenue realisation per GB of wireless data declined 5.07 per cent to Rs 7.13, as per the data.

Data consumption maintained strong momentum during the quarter.

The number of wireless data subscribers increased to 1,045.55 million from 1,026.75 million, while total mobile data traffic jumped 8.3 per cent to 84,424 petabytes. Average monthly data usage per subscriber rose to 28.39 GB from 26.70 GB in the preceding quarter.

TRAI's report also highlighted growth in the telecom sector's revenues. Gross Revenue (GR) stood at Rs 1.07 lakh crore during the quarter ended June 2026, while Adjusted Gross Revenue (AGR) rose to Rs 88,796 crore.

On a year-on-year basis, GR, Applicable Gross Revenue (ApGR) and AGR grew 10.5 per cent, 9.52 per cent and 9.19 per cent, respectively.

Source: IANS

India’s internet subscriber base rises to 1.11 billion in June quarter: TRAI

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Mumbai, Oct 12 (SocialNews.XYZ) HCL Technologies on Monday reported a 21.2 per cent year-on-year increase in consolidated net profit to Rs 5,132 crore for the September quarter (Q2 FY27), driven by steady growth in services, strong deal wins and accelerating demand for artificial intelligence-led solutions.

On sequential basis, the tech giant reported a 11 per cent rise from Rs 4,626 crore reported in the preceding quarter, according to its stock exchange filing.

The IT major also raised the lower end of its FY27 revenue growth guidance and declared an interim dividend of Rs 12 per share.

The Noida-headquartered IT services company posted revenue from operations of Rs 35,620 crore during the quarter, up 3 per cent sequentially from Rs 34,579 crore in the June quarter. On an annual basis, revenue grew 11.5 per cent.

The company's operating performance also improved during the quarter, with EBIT margin expanding to 18.2 per cent. Margins rose by 131 basis points quarter-on-quarter and 71 basis points year-on-year, supported by operational efficiencies and growth across business segments.

A key highlight of the quarter was the continued momentum in artificial intelligence-related business. HCLTech's advanced AI revenue stood at $219 million, registering growth of 28.4 per cent over the previous quarter and 78 per cent compared to the year-ago period.

Reflecting confidence in business demand, the company revised its FY27 revenue growth guidance to 2.5-4 per cent, compared with the earlier range of 1-4 per cent. It, however, retained its operating margin guidance of 17.5-18.5 per cent for the full year.

The company also reported robust deal bookings during the quarter. Net new deal wins came in at $3.24 billion, including a mega AI contract worth $1.14 billion from Mercedes-Benz. Total new bookings rose 27 per cent year-on-year to about $3.3 billion, taking first-half bookings to a record level.

Commenting on the performance, HCLTech Chief Executive Officer and Managing Director C Vijayakumar said the company delivered a strong quarter with growth across geographies and verticals, while advanced AI offerings continued to witness strong client traction.

"Our AI propositions are resonating well with our clients, giving us confidence in our growth trajectory,” he added.

HCLTech Chairperson Roshni Nadar Malhotra said the accelerating growth in advanced AI revenue validates the company's strategy and investments across the AI technology stack.

"The accelerating growth in Advanced AI revenue validates our business strategy. Through strategic partnerships and continued investments across the full AI stack, HCLTech is well-positioned to be a trusted technology partner for enterprises and governments globally,” Nadar noted.

Source: IANS

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New Delhi, Oct 12 (SocialNews.XYZ) Union Minister of State Dr Jitendra Singh on Monday held bilateral talks with UK Secretary of State for Business, Innovation, Science and Trade Jonathan Reynolds to explore avenues for strengthening cooperation in space, civil nuclear energy, scientific research and emerging technologies.

According to the Ministry of Science & Technology, the Indian delegation -- led by the minister -- comprised Prof. Umesh Waghmare, Secretary of the Department of Science and Technology (DST) and Dr. Praveenkumar Somasundaram, Adviser and Head, International Bilateral Cooperation, DST.

On the other side, the UK delegation comprised Reynolds, British High Commissioner to India Lindy Cameron and Interim Permanent Secretary of the Department for Business, Innovation, Science and Trade Amanda Brooks, according to the ministry.

The minister said that India's space-sector reforms had opened new opportunities for private industry and startups, enabling research institutions to focus on advanced research.

Building on this experience, India and the UK can expand cooperation through research partnerships and greater industry participation, he added.

Moreover, discussions covered collaboration in space science, satellite development and stronger engagement between scientific institutions and technology enterprises.

With around 800 space-tech startups in India, Singh proposed greater connectivity between Indian and British startups to facilitate innovation and expand commercial opportunities, according to the ministry.

On civil nuclear energy, Singh spoke about India's nuclear-sector reforms including SHANTI Act, 2025.

Drawing on experience of opening up space sector, India is creating avenues for wider participation in nuclear energy, he said.

In addition, the two sides explored opportunities for cooperation in small modular reactors (SMRs), advanced nuclear technologies and associated industrial capabilities amid growing energy and data-centre demand.

The minister spoke about wider applications of India's nuclear programme beyond electricity, particularly in nuclear medicine and healthcare, offering scope for engagement with British expertise in life sciences.

Notably, artificial intelligence (AI), quantum technologies, cyber-physical systems and cybersecurity also featured in discussions.

However, Reynolds welcomed closer engagement and emphasised scope for regular interaction between institutions and commercial cooperation.

Source: IANS

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New Delhi, Oct 12 (SocialNews.XYZ) The second quarter of FY27 -- July-September -- is likely to see differentiated earnings across sectors with demand momentum supporting select industries even as input-cost pressures persist, according to a report released on Monday.

A report by PL Capital said that asset management firms are likely to benefit from healthy average equity assets under management.

Core income for coverage universe is projected to rise 3.6 per cent quarter-on-quarter and 11.8 per cent year-on-year, although revenue yields may soften slightly, it said.

Moreover, banks are expected to see continued loan growth while net interest margins remain key monitorable.

The report further noted that steady disbursement momentum among auto financiers and housing finance companies is likely to support growth but hardening bond yields could pressure margins.

In autos, dispatches were supported by retail demand and festive stocking but elevated raw material costs and supply-chain disruptions are expected to constrain profitability, it said.

In addition, building materials are expected to see divergent trends with pipes performing relatively better while wood panels face export-related headwinds.

The cement industry's volumes are projected to grow about 10 per cent year-on-year, although elevated fuel costs are likely to weigh on profitability, according to the report.

Similarly, consumer staples are forecast to post double-digit growth, though second half of FY27 may be impacted by inflation and rainfall uncertainties.

Consumer durables are expected to benefit from growth in wires and cables, it said.

The education sector's stationery coverage universe is expected to face pressure, with EBITDA projected to decline 17.7 per cent year-on-year amid raw material inflation.

Among industrials, capital goods firms focused on transmission and distribution are expected to perform better, while execution challenges may weigh on engineering, procurement and construction activity, the report said.

Infrastructure execution is expected to remain steady, although order inflows have moderated, it added.

Source: IANS

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New Delhi, Oct 12 (SocialNews.XYZ) Global PC shipments totalled 55.4 million units in the third quarter of 2026, down 22.4 per cent from the third quarter of 2025, a report said on Monday.

The report from technology insights company Gartner said the steep decline was driven by higher memory and storage costs that vendors passed on to customers.

"DRAM costs surged five times year-over-year in the second quarter, and PC vendors passed those higher component costs on to customers, driving the steep decline in PC shipments during the third quarter,” said Namrata Banerjee, Principal, Research at Gartner.

The report said the market dynamics in Q3 2026 differed from past downturns.

“Rather than excess inventory, the decline in the third quarter of 2026 was driven by higher prices, vendor-led reprioritisation of scarce components and a shift toward higher-priced configurations," Banerjee said.

Consequently, the reduction in the availability of lower-cost devices made replacement purchases less affordable for consumers, while businesses focused spending on targeted investments, such as workstations and AI PCs rather than broad-based PC deployments.

All of the top six worldwide PC vendors experienced shipment declines in the third quarter of 2026. Lenovo remained the market leader, with shipments falling 22.4 per cent year-over-year in line with the market. Its supply chain scale and broader AI and infrastructure portfolio helped preserve its competitive position.

Apple recorded the lowest shipment decline of the top six vendors and gained 1.7 percentage points of market share, supported by its portfolio of mainstream MacBooks.

Another recent report has said that tablet shipments in India eased 3.8 per cent year‑on‑year in the second quarter of 2026 as brands began passing higher input costs to consumers, raising prices and prompting a shift toward higher‑priced models.

Brands increased prices across portfolios and streamlined memory variants, lifting the average selling price by 15 per cent.

The sub‑Rs 20,000 segment, which has traditionally formed the backbone of India’s tablet market, was most impacted by the memory price hike, declining 43 per cent YoY in Q2.

—IANS

aar/ag

Source: IANS

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New Delhi, Oct 12 (SocialNews.XYZ) India showed resilience amid weak global labour demand with job postings falling only 5 per cent year-on-year in second quarter, far better than steep declines seen in several major markets, a report showed on Monday.

According to analysis by Bain & Company, France (-40 per cent), Brazil (-39 per cent) and the Netherlands (-33 per cent) suffered largest declines among top 10 markets tracked, followed by Germany (-27 per cent) and the United States (-23 per cent).

Meanwhile, India witnessed a fall of 5 per cent fared better along with Canada (-4 per cent), Japan (-7 per cent), China (-10 per cent) and UK (-9 per cent), it said.

The report noted broad-based hiring remains elusive globally but pockets of growth remain, with AI-related postings bucking overall trend.

AI postings totalled about 3.51 lakh in Q2 2026, up 60 per cent year-on-year, it said.

As global hiring becomes increasingly selective, India’s relatively modest 5 per cent year-on-year decline highlights its resilience compared with several major markets, according to the report.

Findings underscore how hiring demand is becoming more concentrated in specific capabilities, making it increasingly important for organisations to align talent strategies with evolving business and skills requirements, it added.

Separately, a report said that India's flexi‑staffing net employment saw steady recovery and grew 2.6 per cent quarter‑on‑quarter in Q1 FY27 and 7.5 per cent year‑on‑year even as the trend points to a gradual slowdown in formal employment.

The report from Indian Staffing Federation (ISF) said the April–June quarter saw employment demand led by manufacturing, technology and consumer‑facing sectors.

Macroeconomic expansion provided a strong demand floor for flexi-staffing in Q1 with Real GDP growing at 7.8 per cent despite geopolitical tension in West Asia and rising crude oil prices, it added.

Source: IANS

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New Delhi, Oct 12 (SocialNews.XYZ) The Royal Swedish Academy of Sciences on Monday awarded the 2026 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel to American economists Robert E. Hall and Michael Woodford for developing macroeconomic models that have significantly improved policymakers' ability to stabilise economies during periods of boom and recession.

The academy said the laureates' work has provided a stronger theoretical foundation for fiscal and monetary policy, enabling governments and central banks to better manage economic fluctuations through timely policy interventions.

According to the Nobel Committee, Hall of Stanford University and Woodford of Columbia University rebuilt macroeconomic models on microeconomic foundations, focusing on how households and businesses make decisions and collectively influence the wider economy.

Their research emerged amid criticism of traditional Keynesian economic models following the oil shocks of the 1970s, when many advanced economies experienced a combination of high inflation, weak growth and rising unemployment.

The Nobel Committee further noted that the two economists demonstrated how macroeconomic models could be reconstructed to restore confidence in stabilisation policies by incorporating forward-looking behaviour among consumers and businesses.

A key element of their work is the idea that households and firms take future economic conditions into account when making decisions on spending, saving, investment and pricing.

As a result, policy signals from governments and central banks can influence expectations and help steer economic activity.

The academy noted that the models developed by Hall and Woodford have become widely used by central banks and governments around the world and have proved valuable in responding to economic downturns and external shocks.

"The Laureates' work has provided us with a stable theoretical foundation for the models that are now used by central banks and governments around the world," said John Hassler, Chair of the Committee for the Prize in Economic Sciences.

He added that the models have improved policymakers' ability to respond to disruptions such as energy crises and sudden shifts in household consumption.

Robert E. Hall -- born in 1943 in Palo Alto, California -- earned his PhD from the Massachusetts Institute of Technology in 1967 and is a professor at Stanford University.

On the other hand, Michael Woodford -- born in 1955 in Chicopee, Massachusetts --received his PhD from the Massachusetts Institute of Technology in 1983 and is a professor at Columbia University in New York.

Additionally, the prize carries an award of 12 million Swedish kronor which will be shared equally between the two laureates.

Source: IANS

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New Delhi, Oct 12 (SocialNews.XYZ) Overall securitisation volumes reached a historic high of Rs 1.47 trillion in the first half of 2026-27, marking a strong growth of about 42 per cent over H1 2025-26, a report said on Monday.

The report from ICRA said activity picked up sharply in the second quarter, with securitisation volumes in Q2 2026-27 at Rs 86,000 crore.

The growth was supported by growing traction in the gold loan segment, a revival in vehicle loan securitisation and steady traction for MSME and business loan pools.

"From the originator perspective, the continued reliance of non-banking financial entities on securitisation to meet their funding requirements drove the growth in volumes in H1 2026-27," the report added.

Gold loans led the surge, with volumes in H1 2026-27 increasing by nearly 1.5 times year-on-year.

"Meanwhile, traditional segments such as vehicle, MSME or business loans and mortgage loans have maintained a steady pace of growth, supporting the overall volumes,” said Sachin Joglekar, Vice President and Co-Group Head, Structured Finance Ratings, ICRA.

“The strong volumes recorded in the first half lend support to ICRA’s 2026-27 securitisation volume estimate of at least Rs 2.6-2.7 lakh crore, marking an all-time high," Joglekar added.

While gold loans registered the highest growth, vehicle loan securitisation regained some of its lost position in H1 2026-27.

Vehicle loans accounted for one-third of the overall volumes, compared with a 25 per cent share in Q1 2026-27, with some of the lenders either re-entering the market or increasing their sell-down volumes in the second quarter.

Following gold loans and vehicle loans, mortgage loans, small business loans and microloans formed the other key asset classes, with their shares ranging between 12 per cent and 15 per cent of the overall H1 2026-27 volumes.

In terms of transaction structure, the overall volumes remained evenly split between the Pass-Through Certificate (PTC) and Direct Assignment (DA) routes, in line with the trend witnessed in the previous quarter.

—IANS

aar/ag

Source: IANS

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New Delhi, Oct 12 (SocialNews.XYZ) India is poised to emerge as a global hub for automobile manufacturing as international carmakers increasingly expand production in the country, Union Commerce and Industry Minister Piyush Goyal said on Monday.

Addressing the 'Dilli Dialogue: Policies for a Future-Ready India' here, he said rising domestic demand, a growing manufacturing ecosystem and India's economic ambitions under the Viksit Bharat 2047 vision would position the country as a key global production base for the auto industry.

“We want to be a part of the global marketplace. Providing opportunities for people, providing opportunities for jobs, for our startups, for our youth to come up with newer ideas,” Goyal noted.

Goyal said India is pursuing a twin-track strategy of integrating with the world's best technologies while simultaneously identifying sectors with strong potential for employment generation and business growth.

Highlighting the country's trade strategy, the minister said India is actively expanding its access to international markets through free trade agreements (FTAs).

According to him, these agreements offer significant opportunities for Indian businesses across sectors such as textiles, footwear, agriculture and food processing, while also enabling access to advanced technologies and high-quality products from developed economies.

Emphasising India's approach to globalisation, Goyal said the country is not shutting itself off from the world but is opening its doors wider to international partnerships and investments.

The minister also reiterated India's ambitious economic and export goals, expressing confidence that the country can achieve a trillion-dollar export target as it works towards becoming a developed nation by 2047.

He said a detailed roadmap has been prepared to identify sectors that will drive growth over the coming decades.

Referring to India's population of 1.4 billion people, Goyal said growing demand for goods and services presents substantial opportunities for both domestic industry and global investors.

Rising demand for electronics and white goods, he noted, could accelerate investments in domestic manufacturing and semiconductor facilities.

On the automobile sector, Goyal said several global manufacturers would increasingly choose India as a production base once market demand reaches the necessary scale.

Source: IANS

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New Delhi, Oct 12 (SocialNews.XYZ) In a bid to modernise India's vocational training ecosystem, Shareholders' Agreements (SHAs) have been signed under the Pradhan Mantri Skilling and Employability Transformation through Upgraded ITIs (PM-SETU) scheme, according to an official statement on Monday.

According to the Ministry of Skill Development and Entrepreneurship, the agreements for the upgradation of nine government Industrial Training Institutes (ITIs) in Gujarat and Andhra Pradesh have been signed through a partnership with ArcelorMittal Nippon Steel India (AM/NS India).

The pacts were signed between the Directorate General of Training (DGT) under the Ministry of Skill Development and Entrepreneurship (MSDE), the governments of Gujarat and Andhra Pradesh, and AM/NS India, enabling the implementation of approved Strategic Investment Plans (SIPs) in the two states.

The partnership covers a cluster of five government ITIs in Surat, Gujarat and four government ITIs in Visakhapatnam, Andhra Pradesh.

The initiative is aimed at strengthening industry participation and creating world-class training infrastructure under the PM-SETU programme, according to the government.

Moreover, dedicated Special Purpose Vehicles (SPVs) will be established to oversee implementation and operations of the ITI clusters under the agreement.

In addition, AM/NS India will hold a 51 per cent stake in the SPVs, while the government and the respective state governments will each hold 24.5 per cent equity.

Speaking on the occasion, Skill Development and Entrepreneurship Secretary Debashree Mukherjee said the signing of the agreements marked the beginning of a transformative journey for ITIs and emphasised the need to develop PM-SETU institutions into centres of excellence capable of nurturing future WorldSkills champions.

AM/NS India will execute the programme in collaboration with the New Age Makers' Institute of Technology (NAMTECH) which will serve as its academic and technical partner. While the steelmaker will contribute industry expertise and manufacturing insights, NAMTECH will support curriculum reforms, faculty development, academic innovation and improvements in training delivery, according to the ministry.

Apart from that, the proposed interventions include modernisation of training infrastructure, workshops and laboratories; introduction of industry-relevant and emerging technology trades; revision of curricula to align with evolving industry requirements; strengthening instructor training; and expansion of hands-on learning opportunities for trainees.

According to the ministry, these measures are expected to improve the quality of training, enhance employability outcomes and better prepare ITI graduates for industry requirements.

Additionally, the Surat and Visakhapatnam clusters together involve an approved investment of about Rs 440 crore.

The ministry further noted that the projects led by AM/NS India represent one of the largest industry commitments approved under PM-SETU so far.

Notably, the first 14 Strategic Investment Plans cleared under the scheme account for a proposed investment of Rs 3,446 crore, it added.

Source: IANS

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New Delhi, Oct 12 (SocialNews.XYZ) Commerce and Industry Minister Piyush Goyal said on Monday that the new free trade agreements that India has signed will give the country preferential access to the markets of developed countries with a combined GDP of $85 trillion within the next year and a half or so.

Addressing the Dilli Dialogue: Policies for a Future-Ready India conference here, the minister said, “We want to be part of the global marketplace, creating opportunities for people, jobs, startups, and our youth to come up with new ideas. In this process, we'll have a twin track. Of course, we'll have to engage with the world's best technologies, but we'll also have to identify areas with tremendous job and business growth potential.”

Citing the example of tourism as an area of growth, he said, “Just imagine the scope of tourism. It is AI-proof. AI can only improve the efficiency of tourism promotion."

Outlining India’s strategy for negotiating free trade agreements (FTAs), the minister said, “My pitch is very simple in trade deal negotiations. I am a $4 trillion economy today and our purchasing power is already, as per the IMF, $16 trillion. Our capacity as a nation is huge.”

He said India’s population of 1.4 billion, its demographic advantage and its growth trajectory set it apart from many advanced economies, which are grappling with ageing populations and slower growth.

Goyal said India’s trade strategy involves identifying vulnerable sectors before negotiations begin and carefully assessing the potential impact of greater market access.

He said the government draws up a list of sensitive areas, particularly those involving farmers, fishermen and micro, small and medium enterprises (MSMEs), before deciding which sectors can be opened to foreign competition and which require protection.

Goyal highlighted that at the same time India carries out trade negotiations with the principle of mutual respect for each country’s economic sensitivities.

“Most negotiations I start with the ground rule: you respect my sensitivities, I will respect yours,” he said, adding that this approach helps make negotiations smoother.

Source: IANS

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New Delhi, Oct 12 (SocialNews.XYZ) The Union Ministry of Health and Family Welfare on Monday asked all States and Union Territories (UTs) to ensure that clinical establishments prominently display the rates charged for healthcare services and facilities, in a move aimed at enhancing transparency, accountability and patient-centric healthcare delivery.

In a letter addressed to Chief Secretaries of States and UTs, Union Health Secretary Punya Salila Srivastava urged authorities to review compliance with applicable regulations and take necessary steps to ensure that information on healthcare charges is clearly visible and easily accessible to patients and their attendants.

The ministry said transparent display of treatment costs would help patients and their families understand the likely expenditure involved in medical care, enabling them to make informed decisions and plan their finances better.

It added that greater transparency could reduce confusion over billing, minimise disputes and strengthen public trust in the healthcare system.

"In a significant step towards strengthening transparency, accountability and patient-centric healthcare delivery, the Union Ministry of Health and Family Welfare has urged all States and Union Territories (UTs) to ensure the prominent display of rates charged for services and facilities offered by Clinical Establishments," according to the official statement.

The communication referred to the Clinical Establishments (Registration and Regulation) Act, 2010, and the Clinical Establishments (Central Government) Rules, 2012, which require clinical establishments in States and UTs where the law is applicable to display charges for all services and facilities at a conspicuous place. The rates must be displayed in both English and the local language for the benefit of patients and their attendants.

The ministry noted that States and UTs where the central law is not applicable regulate healthcare facilities under their respective frameworks, many of which also contain provisions related to the display of service charges.

Highlighting that health is a State subject, the Health Secretary said the responsibility for implementing and enforcing the relevant regulations rests with State and UT authorities.

The ministry has also sought greater transparency for international patients seeking treatment in India. States and UTs have been requested to encourage hospitals and healthcare institutions to prominently display package rates offered to foreign patients travelling on Medical or Ayush Visas.

According to the ministry, such measures would enable overseas patients to make informed choices, reduce pricing-related grievances and further strengthen India's position as a preferred destination for medical and Ayush care.

Source: IANS

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New Delhi, Oct 12 (SocialNews.XYZ) The Technology Development Board (TDB) -- under the Department of Science and Technology (DST) -- has signed an agreement with Peptris Technologies Pvt Ltd to provide financial support of Rs 86 crore under the Research Development and Innovation (RDI) Fund for an AI-led drug development programme, according to an official statement on Monday.

According to the Ministry of Science & Technology, the pact was signed under the Research Development and Innovation (RDI) Fund.

The project -- VIGOR: Advancing AI-Discovered Molecules from Bench to Clinic -- has a total project cost of Rs 172 crore, it added.

The project aims to advance four drug candidates from Technology Readiness Level (TRL)-4 to TRL-6 through preclinical development, validation and preparation for clinical trials. Financial support will be provided through Optionally Convertible Debt (OCD).

However, translating computational discoveries into viable drug candidates requires extensive experimental validation, preclinical studies and clinical development.

“Peptris’ VIGOR programme seeks to address this critical transition by leveraging its proprietary AI-driven drug discovery platform to advance a portfolio of molecules towards clinical development,” according to the ministry.

The programme focuses on therapeutic areas with significant unmet medical needs.

It covers four drug candidates like ‘PEPR111’ for neuromuscular disorders and oncology, ‘PEPRX101’ for alopecia, ‘PEPR202’ for neuropathy and ‘PEPR112’ for Duchenne muscular dystrophy (DMD).

These four candidates are currently at TRL-4 and are expected to progress to TRL-6 under the project.

Moreover, the three-year programme includes advanced preclinical studies, investigational new drug (IND)-enabling studies, formulation development, clinical trial preparation and initiation activities, subject to regulatory and scientific requirements.

The government said that the project is intended to help bridge the gap between AI-based discovery and clinical development while strengthening India's capabilities in biotechnology, pharmaceuticals and AI-enabled healthcare innovation.

“The application of artificial intelligence in pharmaceutical research has the potential to transform how new drug candidates are identified and developed,” TDB Secretary Rajesh Kumar Pathak said.

He added that sustained investment and scientific validation are required to translate promising discoveries into therapeutic candidates.

A representative of Peptris said the support under the RDI Fund would help the company advance its VIGOR programme through critical preclinical milestones and accelerate the progression of AI-discovered molecules towards potential clinical development.

The company said its approach combines AI-driven discovery, experimental validation and established drug-development processes to address unmet medical needs and support the development of novel therapeutic candidates.

Source: IANS

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New Delhi, Oct 12 (SocialNews.XYZ) Gold exchange-traded funds (ETFs) witnessed a sharp rise in investor interest in September, with net inflows surging 71.4 per cent month-on-month to Rs 4,451 crore from Rs 2,597 crore in August, according to data released by the Association of Mutual Funds in India (AMFI) on Monday.

The strong inflows into gold ETFs came despite the broader mutual fund industry witnessing net outflows of Rs 1.33 lakh crore during the month, reversing net inflows of Rs 41,353 crore recorded in August. The decline was largely driven by significant withdrawals from fixed-income mutual fund schemes.

Debt-oriented mutual funds emerged as the biggest source of outflows, with net withdrawals rising sharply to Rs 1.83 lakh crore in September compared to Rs 8,127 crore in the preceding month.

The heavy redemptions weighed on the industry’s overall assets under management (AUM), which fell to Rs 82.64 lakh crore from Rs 87.08 lakh crore in August.

In contrast, equity mutual funds maintained their growth momentum and continued to attract investor money. Net inflows into equity schemes increased 30.6 per cent to Rs 38,307 crore in September, up from Rs 29,328 crore in August.

Among equity categories, small-cap funds remained the most preferred segment, garnering inflows of Rs 9,039 crore against Rs 7,973 crore in the previous month. Mid-cap funds also saw healthy investor participation, attracting Rs 7,835 crore compared with Rs 6,989 crore in August.

Flexi-cap funds recorded net inflows of Rs 6,702 crore, rising from Rs 5,059 crore a month earlier, while sectoral and thematic funds witnessed inflows increase to Rs 3,640 crore from Rs 1,713 crore.

Large-cap funds returned to positive territory after a month of outflows, receiving net investments of Rs 859 crore in September, compared with net outflows of Rs 1,147 crore in August.

Meanwhile, multi-asset allocation funds attracted Rs 3,667 crore, largely unchanged from Rs 3,671 crore in the previous month.

Investor participation through systematic investment plans (SIPs) remained robust, with monthly SIP contributions touching a record high of Rs 32,490 crore in September, marginally higher than Rs 32,297 crore recorded in August.

Source: IANS

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Mumbai, Oct 12 (SocialNews.XYZ) Monthly mutual fund inflows through systematic investment plans (SIPs) hit a new all-time high in September, rising to Rs 32,490 crore from Rs 32,297 crore in August, according to data released by the Association of Mutual Funds in India (AMFI) on Monday.

While total mutual fund industry assets under management stood at Rs 82.64 lakh crore and equity net inflow surged by 30.6 per cent to Rs 38,306.55 crore.

AMFI data showed open-ended equity schemes mobilised Rs 74,831.96 crore during the month against redemption of Rs 36,525.41 crore.

Net AUM for equity schemes stood at Rs 37.54 lakh crore, while average AUM for the month stood at Rs 38,50,660.61 crore.

Category-wise, small cap funds led inflow at Rs 9,038.57 crore from 3.03 crore folios, mobilising Rs 13,025.13 crore against redemption of Rs 3,986.56 crore.

Mid cap funds saw inflow of Rs 7,834.84 crore, flexi cap funds Rs 6,701.80 crore, large & mid cap funds Rs 4,271.22 crore and multi-cap funds Rs 3,859.55 crore.

Thematic funds attracted Rs 1,800.07 crore, sectoral funds Rs 1,840.02 crore, focused funds Rs 1,390.84 crore, value funds Rs 1,290.89 crore and large-cap funds Rs 859.47 crore.

Contra funds saw an outflow of Rs 97.88 crore and ELSS tax saver funds saw an outflow of Rs 662.14 crore.

Net AUM for equity schemes stood at Rs 37.54 lakh crore, while average AUM for the month stood at Rs 38,50,660.61 crore.

Moreover, Exchange Traded Funds saw a net inflow of Rs 15,501.40 crore.

Equity ETFs led with an inflow of Rs 9,959.96 crore, followed by gold ETFs at Rs 4,450.61 crore and silver ETFs at Rs 1,974.32 crore.

In August, equity funds recorded a net inflow of Rs 29,328.62 crore.

In July, the SIP contribution came at Rs 31,961 crore, an increase of 12.28 per cent year-on-year.

Source: IANS

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Mumbai, Oct 12 (SocialNews.XYZ) India's mutual fund industry witnessed equity net inflow of Rs 38,306.55 crore in September, up 30.61 per cent month-on-month with total assets under management at Rs 82.64 lakh crore, according to data released by the Association of Mutual Funds in India (AMFI) on Monday.

The AMFI’s data also showed that open-ended equity schemes mobilised Rs 74,831.96 crore during the month against redemption of Rs 36,525.41 crore.

Moreover, net assets under management for equity schemes stood at 37.54 lakh crore, while average AUM for the month stood at Rs 38,50,660.61 crore.

Category-wise, small cap funds led inflow at Rs 9,038.57 crore from 3.03 crore folios. However, the category mobilised Rs 13,025.13 crore against redemption of Rs 3,986.56 crore.

Meanwhile, mid cap funds saw inflow of Rs 7,834.84 crore, flexi cap funds Rs 6,701.8 crore, large & mid cap funds Rs 4,271.22 crore and multi cap funds Rs 3,859.55 crore.

Thematic funds attracted Rs 1,800.07 crore, sectoral funds Rs 1,840.02 crore, focused funds Rs 1,390.84 crore, value funds Rs 1,290.89 crore and large cap funds Rs 859.47 crore.

On the downside, contra funds saw an outflow of Rs 97.88 crore and ELSS tax saver funds saw an outflow of Rs 662.14 crore.

In addition, the overall mutual fund industry saw a net outflow of Rs 1,33,375.57 crore in September, dragged down by debt schemes' outflow of Rs 1,83,155.76 crore.

Apart from that, Exchange Traded Funds (ETF) saw a net inflow of Rs 15,501.40 crore in September. Equity ETFs led with an inflow of Rs 9,959.96 crore, followed by gold ETFs at Rs 4,450.61 crore and silver ETFs at Rs 1,974.32 crore.

In August, equity funds recorded a net inflow of Rs 29,328.62 crore, an increase of about 19 per cent from the previous month. Total AUM of the industry was at Rs 87.08 lakh crore, an increase of more than 1 per cent from the previous month.

Source: IANS

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New Delhi, Oct 12 (SocialNews.XYZ) Coal stocks at domestic coal‑based power plants have remained stable above 18 million tonnes since September 29, 2026, an official statement said on Monday, adding that depletion thins out in October 2026 as coal supplies strengthen.

The statement from the Ministry of Coal said stock was 18.932 million tonnes on September 29, 2026, and stood at 18.205 million tonnes on October 10, 2026.

The stabilisation shows that coal supplies have broadly kept pace with daily consumption at power plants. The ministry said supply to the plants with critical stocks is being closely monitored, with requirement-based redistribution of coal to vulnerable stations to ensure adequate supplies and uninterrupted power generation.

The ministry noted stock accretion on two dates in October 2026, recording 0.024 million tonnes on October 2, 2026, and 0.017 million tonnes on October 10, 2026.

The pace of depletion has eased considerably in October compared to September, it said, adding that in September 2026, stock declined by about 7.28 MT over the month, an average of about 0.24 MT per day.

In the first ten days of October 2026, stock declined by only about 0.56 MT in total, an average of about 0.06 MT per day.

Higher rake loading has driven this improvement. Rakes loaded to the power sector averaged 469 rakes per day in October 1 to October 10, 2026 against 426 rakes per day in September 2026, marking an increase of about 10 per cent. Daily rake loading in October has ranged between 447 and 482 rakes.

Consequently, actual coal supply to the power sector averaged 2.49 MT per day in October 2026, against 2.21 MT per day in September 2026. The actual coal supply on October 26 was higher than the supply plan of 2.37 MT per day, and supply exceeded the plan on nine of the ten days.

The ministry continues to work in close coordination with Coal India Limited (CIL), SCCL, the ministry of Railways and power utilities to ensure sustained coal evacuation and supply, thereby maintaining adequate coal stocks at thermal power plants.

The coal ministry duly acknowledges and appreciates the continued support and professional commitment of Indian Railways in facilitating the efficient movement of coal.

—IANS

aar/ag

Source: IANS

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New Delhi, Oct 12 (SocialNews.XYZ) India's Battery Energy Storage System (BESS) sector is projected to register a compound annual growth rate of 91 per cent between FY26 and FY32, according to a report.

A report by Nuwama said that the expansion reflects critical infrastructure cycle designed to support renewable integration, grid balancing, and round-the-clock power requirements across the country.

Cumulative capacity will surge from 6.3 GWh to 302 GWh over same period with annual additions climbing from 5.7 GWh in FY26 to 56 GWh by FY32E, it added.

The Central Electricity Authority estimates national BESS demand at 236 GWh by FY32 and 1,840 GWh by 2047.

We estimate annual BESS additions to rise from 5.7 GWh in FY26 to 56 GWh by FY32E, taking cumulative capacity from 6.3 GWh to 302 GWh (91 per cent CAGR) over FY26-32E, the report said.

With 89 per cent of current requirements met through imports, falling battery costs, alongside likely ALMM-like framework, could accelerate adoption, localisation and domestic capacity growth.

Although Li-ion occupies 98 per cent of BESS market, sodium-ion technology and China+1 themes are opportunity for India, the report said.

Moreover, manufacturing economics reveal distinct margins across end-markets with commercial, industrial and retail segments yielding spreads of $18 to 23 per kilowatt-hour, corresponding to EBITDA margins of 17 to 20 per cent.

The report also highlighted that while returns for integrated BESS facility yield modest internal rate of return of 12 per cent, domestic production maintains distinct cost advantage through capital expenditure of $80 million per gigawatt-hour, coupled with production-linked incentive support of Rs 181 billion for 50 GWh and competitive labour expenses.

The report believes that with policy support, localisation and scale, integrated BESS could open up export-led growth.

Financially, BESS integration is estimated to contribute 17 to 60 per cent to company revenues by FY28.

Premier presents opportunity of Rs 103 billion, representing 60 per cent of its projected FY28 revenue, while Vikram is positioned for 54 per cent revenue uplift.

Despite early battery ambitions and potential BESS addition of 17-60 per cent to FY28E revenue, most listed solar or BESS players' earnings are yet to capture meaningful BESS contribution, the report stated.

Source: IANS

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New Delhi, Oct 12 (SocialNews.XYZ) India is pushing back barriers to growth and rising as major pole in multipolar world amid redirecting capital flows, fractured trade and AI reshaping industries, according to a report released on Monday.

As per the Bloomberg Economics report, the country’s opportunities and challenges are shifting as capital flows redirect, trade fractures along geopolitical lines and AI reshapes industries worldwide.

The AI revolution is underway, rush of free-trade agreements is opening new opportunities for exports and tide of urbanisation continues to rise.

In midst of it all, India is pushing back barriers to growth and rising as major pole in multipolar world, said Tom Orlik, Chief Economist for Bloomberg Economics.

The report further noted that India's expanding free-trade network could add $140-170 billion to GDP by 2035.

Domestic reforms targeting lower factory costs and agricultural labour reallocation could magnify these trade gains further, it added.

On capital flows, global flows are becoming more concentrated and more political with flows between rival nations estimated to be 40 per cent lower than between allies and capital zeroing in on AI and semiconductors.

For India, maintaining momentum will require competing against pull of US tech demand and tariff incentives on global capital.

AI could boost India's GDP growth by up to 0.9 per cent annually, providing crucial momentum toward Prime Minister Narendra Modi's goal of developed-economy status by 2047, according to the report.

However, infrastructure constraints may limit gains. India's IT-services sector in particular faces both opportunity and disruption as AI can propel firms up value chain even as automation challenges its labour-cost advantages.

The report further showed that 820 million Indians live in urban environment saying that strengthened municipal governance, infrastructure and land-use planning could turn that urban density into a powerful source of productivity growth.

Source: IANS

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New Delhi, Oct 12 (SocialNews.XYZ) Union Minister for Communications and Development of North Eastern Region, Jyotiraditya Scindia, was set to undertake a series of important engagements in Mizoram on October 12-13.

According to an official statement, this will be Scindia’s second visit to the state as DoNER minister.

His two-day engagements reflect Government of India’s continued commitment to the development of the Northeast, youth empowerment and deeper engagement with the region’s stakeholders.

During his visit, Minister Scindia will participate in development-related programmes, interact with students and civil society representatives, and engage with the banking sector at the North East Bankers’ Conclave 3.0, said the Ministry of Development of North-East Region.

Scindia will arrive in Aizawl and travel to Tuivamit, where he will inaugurate projects and lay foundation stones, marking an important step towards strengthening development initiatives in Mizoram.

He will subsequently visit Mizoram University for an interaction with students, providing an opportunity to engage with the youth of the University and students of MDoNER’s Ashtalakshmi Darshan Program.

On the second day of his visit, Scindia will return to Mizoram University to inaugurate and deliver the keynote address at the North East Bankers’ Conclave 3.0.

The conclave will bring the banking sector into focus as a key partner in advancing financial inclusion, improving access to credit and supporting economic growth across the Northeastern region, said the ministry.

The DoNER Ministry, in collaboration with NEDFi, held the first North East Bankers’ Conclave in April 2023 in New Delhi. The conclave was supported by the State Bank of India and the Confederation of Indian Industry (CII) as the industry partner.

The New Delhi conclave was the first-of-its-kind leadership event that brought together stakeholders from the banking and finance sector, policymakers and regulators to brainstorm on the challenges faced by the banking sector in the Northeast and deliberate on immediate and long-term actionable strategies to address issues at various levels, from policy planning to grassroots-level implementation, thereby promoting equality and economic growth in the region.

—IANS

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Source: IANS

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Mumbai, Oct 12 (SocialNews.XYZ) The decline in foreign institutional investor (FII) ownership of Indian equities to a 17-year low of 15.1 per cent should not be viewed in isolation, as the absolute value of FII holdings has increased 3.6 times to around $783 billion since 2012, a report showed on Monday.

The more important shift is the growing contribution of domestic investors, including retail participants, said the report by OmniScience Capital.

According to FPI AUC data, FII holdings stood at around $217.3 billion in 2012, when ownership was approximately 15-16 per cent.

Holdings increased to around $300 billion by 2015 and $550 billion by 2020, before peaking at around $930 billion in September 2024. They currently stand at approximately $783 billion.

“The ownership share had already declined even as FII holdings rose, falling from around 30 per cent in 2015 and 20 per cent in 2020 to around 17 per cent by 2024. This reflected domestic investors increasing market participation faster than FIIs,” says Vikas Gupta, CEO and Chief Investment Strategist, OmniScience Capital.

The report attributed the declining FII share partly to the financialisation of Indian household wealth, with investors allocating more to financial assets rather than real estate.

With domestic equity participation still below developed-market levels, further domestic flows could continue to dilute the FII ownership percentage.

“The $50 billion FII outflow since 2024 also needs context. It compares with approximately $40 billion of inflows between 2017 and 2024, when the FII asset base was smaller. Currency depreciation has also contributed to the decline in the dollar value of holdings,” said Ashwini Shami, President and Chief Portfolio Manager, OmniScience Capital.

Market pressure remains, but stock-level opportunities matter. While FII selling can create pressure on prices, strong domestic institutional flows can provide a floor, said the report.

—IANS

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Source: IANS

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Seoul, Oct 12 (SocialNews.XYZ) The benefits of South Korea's economic recovery have yet to reach households more broadly, a state-run think tank said on Monday, noting the recovery in their purchasing power remains limited.

"The recovery in household purchasing power remains constrained due to subdued underlying wage growth and elevated supply-side inflationary pressures, including those from persistently high oil prices," the Korea Development Institute (KDI) said in its monthly economic assessment.

The KDI noted that despite the South Korean economy's recovery led by the artificial intelligence (AI) industry, its benefits have not yet reached households broadly, reports Yonhap news agency.

The think tank nevertheless said the South Korean economy appears to be maintaining its recovery momentum, with manufacturing output continuing to grow at a solid pace.

"Exports and equipment investment continue to grow strongly, led by AI-related sectors, as global demand for AI infrastructure investment remains robust," the KDI said.

In September, South Korea's exports soared 83.5 percent from a year earlier to a record US$120.9 billion, driven by a surge in chip shipments.

Semiconductor exports exceeded $60 billion for the first time ever last month, boosting overall export figures.

"Semiconductor and computer exports continue to grow rapidly, while exports of other products linked to AI infrastructure, including steel products and nonferrous metals, also remain solid," it added.

Meanwhile, South Korea's top central banker will attend a meeting of the Group of 20 (G20) finance ministers and central bank chiefs to be held in Thailand this week, the Bank of Korea (BOK) said on Monday.

BOK Gov. Shin Hyun-song will join the G20 Finance Ministers and Central Bank Governors Meeting, set to take place in Bangkok, where participants will discuss global economic conditions, growth and global imbalances, according to the central bank.

He will also attend the International Monetary Fund-World Bank Group (IMF-WBG) meetings, where discussions will focus on the global economic outlook and financial stability.

—IANS

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Source: IANS

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Seoul, Oct 12 (SocialNews.XYZ) Seoul shares extended their losses late on Monday morning, led by declines in technology stocks, as elevated oil prices and escalating tensions in the Middle East fuelled inflation concerns.

After opening 0.72 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) fell 150.98 points, or 2.28 percent, to 6,474.95 as of 9:15 am, reports Yonhap news agency.

Foreigners sold a net 699.27 billion won (US$524 million) worth of stocks, while institutions and individuals bought a net 3.25 billion won and 441.74 billion won, respectively.

The decline came despite gains on Wall Street on Friday (U.S. time).

The Dow Jones Industrial Average rose 0.83 percent on Friday (local time), while the tech-heavy Nasdaq Composite climbed 0.64 percent.

Oil prices rose amid escalating tensions in the Middle East following renewed Houthi attacks on Saudi Arabia's main airport over the weekend.

A broader regional conflict could further disrupt energy supplies, stoking inflation and increasing pressure on the Federal Reserve to raise interest rates.

In Seoul, tech stocks led the decline.

Market behemoth Samsung Electronics fell 2 percent, and its chipmaking rival SK hynix declined 2.86 percent.

Defence giant Hanwha Aerospace dropped 2.58 percent, and leading shipbuilder HD Hyundai Heavy Industries plunged 3.91 percent.

Among gainers, No. 2 carmaker Kia rose 0.94 percent, and shipping firm HMM jumped 5.29 percent.

The Korean won was trading at 1,335.35 won against the U.S. dollar as of 11:20 a.m., up 6.65 won from the previous stock trading session's close.

Meanwhile, the daily amount of securities settlements in the South Korean financial market dropped in the third quarter from three months earlier, industry data showed on Monday.

An average 35.4 trillion won (US$26.5 billion) worth of securities was handled per day through the Korea Securities Depository (KSD) in the July-September period, down 16.5 percent from a quarter earlier, according to the data by the KSD.

On the stock exchange, the daily average fell 12.4 percent on-quarter to 8.8 trillion won, the data showed.

A daily 26.6 trillion won worth of debts was traded on the bond exchange over the cited period, down 17.7 percent on-quarter.

—IANS

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Source: IANS

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Ahmedabad, Oct 11 (SocialNews.XYZ) Kutch Copper Limited (KCL), a subsidiary of Adani Enterprises Limited, on Sunday outlined an ambitious growth strategy centred on sustainability, decarbonisation, and resource efficiency as it seeks to strengthen India’s copper production capacity and support the country's energy transition.

The company, which operates a greenfield copper refinery in Mundra in the Kutch region, with a current copper smelting capacity of 0.5 million tonnes per annum, plans to increase this capacity to 1 million tonnes per annum in the future, positioning the facility to become the world’s largest single-location custom copper smelter.

In its maiden sustainability report, the company has highlighted its commitment to integrating environmental, social and governance (ESG) principles into its business strategy. Its key focus areas include renewable energy adoption, responsible water management, emissions control, resource conservation, and community development.

As part of its decarbonisation roadmap, KCL plans to integrate 115 MW of renewable energy into its operations. The initiative is expected to help reduce the carbon footprint of its manufacturing activities while supporting the company’s long-term sustainability objectives.

The company believes copper will play an increasingly important role in achieving national and global climate goals, given its growing use in renewable energy systems, electric mobility, power transmission, and other clean energy technologies. With demand for the metal expected to rise alongside infrastructure development and industrial expansion, KCL aims to increase production capacity while maintaining a strong focus on responsible manufacturing practices.

Water conservation is another key component of the company’s sustainability strategy. According to the report, KCL operates using nearly 100 per cent desalinated water and follows a Zero Liquid Discharge approach. These measures are intended to minimise dependence on freshwater resources, conserve water, and reduce the environmental impact of its industrial operations.

The company has also reported progress in controlling industrial emissions. KCL said it currently treats 99.8 per cent of sulphur emissions through advanced environmental technologies.

Beyond its manufacturing operations, KCL is investing in community development initiatives aimed at promoting inclusive growth in surrounding areas. Its programmes cover healthcare, education, livelihood enhancement and broader social development, with the objective of creating long-term benefits for local communities.

The sustainability roadmap forms part of the Adani Group’s broader investment in the copper sector. The group has committed $1.2 billion to the project, underscoring its ambition to expand domestic copper production and strengthen India’s industrial ecosystem.

The expansion comes at a time when copper is becoming increasingly important to the development of green infrastructure, including electricity grids, renewable energy installations and electric vehicles. Strengthening domestic production capacity could help support India’s growing demand for the metal as the country pursues its infrastructure and clean energy ambitions.

India has set a target of achieving net-zero emissions by 2070. Against this backdrop, KCL’s proposed capacity expansion and sustainability initiatives are intended to align industrial growth with improved environmental performance. The company aims to build a production platform that combines large-scale manufacturing with responsible resource management and community engagement.

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Source: IANS

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New Delhi, Oct 11 (SocialNews.XYZ) The government has unveiled a draft steel policy targeting a close to 3-fold jump in India's crude steel capacity to 604 million tonnes by 2047 from the current level of around 220 million tonnes.

The new policy draws up a roadmap to cut carbon emissions in the steel sector and increase the availability of iron ore and coking coal to meet the anticipated demand. These raw materials account for over 65-70 per cent of the cost of making steel. While India is largely self-sufficient in iron ore, it imports nearly all of its coking coal requirement.

The policy aims to cut the average carbon-emission intensity in the steel sector to around 1.54 tons of carbon dioxide per ton of crude steel by 2047 from the current 2.54 tons, in ⁠line with India's net zero emission goal for 2070.

According to the draft National Steel Policy 2047, the demand for finished steel will rise to 505 MT by 2047 while per capita consumption is expected to go up to 302 kg. The increase in capacity is also expected to result in steel exports rising by 45 MT.

Iron ore demand is projected to rise to 772 MT by 2047 from 299 MT in 2025. The policy proposes securing high-grade iron ore reserves through overseas assets and joint ventures, alongside measures to improve domestic supply and transport infrastructure.

It also proposes to expand slurry pipelines, which transport iron ore in a water-based mixture, to reduce reliance on road and rail transport and improve logistics efficiency.

Coking coal demand is expected to triple to 236 MT. Because India imports 92 per cent of its coking coal, the draft outlines plans to reduce import dependence through domestic mining, expand domestic coal washeries, go for long-term supply arrangements, and leverage AI to optimise coal blends.

Other raw materials important for the steel sector, like manganese, limestone, etc., will also remain in policy focus to ensure long-term resource sustainability.

The proposed roadmap includes improving energy efficiency, increasing renewable electricity use, promoting scrap-based steelmaking and adopting hydrogen-based technologies and carbon capture. These measures will need to accompany capacity expansion to help the industry meet its emissions target.

The policy also focuses on value-added steel such as stainless steel and speciality steel to reduce dependence on imported raw materials and technology.

Steel quality will be strengthened through revised Indian Standards and conformity assessment mechanisms. Digital transformation is identified as an emerging priority.

This includes a focus on digital infrastructure, common data standards and Industry 4.0 adoption, driven by trusted AI and autonomous production systems.

International cooperation in the steel sector will become a priority area in the coming years, especially for raw material diversification, steel trade and technology collaboration.

India, the second-largest producer and consumer of steel, will collaborate with other countries to take the sector forward in the right direction, the draft stated.

Source: IANS

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