VISAR IntelVISAR Intel
AllPolity & GovernanceEconomyScience & TechEnvironmentInternational RelationsHistory & CultureGeographyGovt SchemesReports & IndicesDefence & Security

Economy

Economy

Women artisans drive ₹1,000‑crore silver industry in Hupari, Maharashtra

  • Hupari town in Maharashtra is home to a century‑old silver craft sector worth approximately ₹1,000 crore annually.
  • Over 80% of the workforce in this sector are women artisans who handle design, casting, and finishing of silver jewellery.
  • Despite contributing significantly to the local economy, women artisans receive lower wages and are largely absent from formal trade‑body leadership.
  • Artisans have formed informal self‑help groups to negotiate better prices and secure raw material supplies.
  • The industry faces challenges such as competition from cheap imports and lack of government‑supported skill‑upgradation schemes.
Source: The Hindu - National ↗
Economy

Are lower MRPs on cancer drugs translating into affordable care?

  • The National Pharmaceutical Pricing Authority (NPPA) imposed price caps on several high-cost oncology medicines in 2022.
  • Since the caps, the Maximum Retail Prices (MRPs) of flagship cancer drugs such as imatinib and trastuzumab fell by 15-30 percent.
  • Despite lower MRPs, out-of-pocket spending on cancer treatment remains above 25% of average household income due to ancillary costs like diagnostics and hospital charges.
  • Only about 12% of diagnosed cancer patients in India currently have access to fully affordable treatment under existing price‑control mechanisms.
  • Increased generic entry after patent expiries is gradually improving drug availability, but supply chain bottlenecks limit the impact.
Source: The Hindu - Sci-Tech ↗
Economy

Bharti Airtel net profit rises 24% to ₹10,710 crore in September quarter

  • Net profit for the September quarter (Q3 FY24) surged 24% YoY to ₹10,710 crore.
  • Consolidated revenue from Indian operations grew 9.4% YoY to ₹42,308 crore.
  • The profit jump was driven by higher data services revenue and improved subscriber ARPU.
  • Airtel’s operating margin expanded to 18.2% from 16.5% in the same period last year.
  • The strong performance underscores robust demand for telecom services in the Indian economy.
Source: The Hindu - Business ↗
Economy

Mahindra & Mahindra Q2 profit jumps 25% to ₹4,588 crore on strong auto and finance performance

  • Mahindra & Mahindra reported a 25% rise in Q2 profit after tax (PAT) to ₹4,588 crore.
  • The surge was driven by robust demand in the automobile segment and improved performance of its financial services arm.
  • The Farm division saw a marginal decline owing to a seasonal shift in festive season purchases.
  • Revenue growth was broad-based, reflecting recovery in consumer spending post-pandemic.
Source: The Hindu - Business ↗
Economy

Mines Ministry launches 9th auction round offering 20 critical mineral blocks

  • The Ministry of Mines announced the ninth tranche of mineral block auctions, putting 20 critical and strategic mineral blocks up for bidding.
  • Across the first eight tranches, a total of 100 unique critical and strategic mineral blocks were offered.
  • Out of those 100 blocks, 64 have been successfully auctioned to private and public sector participants.
  • The auctions aim to boost domestic supply of critical minerals essential for defence, renewable energy and emerging technologies.
  • The move is part of the government's broader strategy to reduce import dependence on strategic minerals.
Source: The Hindu - Business ↗
Economy

Kerala CM V.D. Satheesan’s stance questioned in KSEB power purchase controversy

  • KSEB’s Chief Engineer (Commercial & Tariff) advised that the Himachal Pradesh power arrangement best suited the board's critical peak‑hour needs.
  • The recommendation was communicated to then MD M.G. Rajamanickam, prompting political scrutiny of the CM’s position on the deal.
  • Opposition parties allege procedural lapses and lack of transparency in the selection of the Himachal arrangement.
  • The issue highlights challenges in meeting Kerala’s rising electricity demand during peak periods.
  • Potential implications include tariff revisions and re‑evaluation of inter‑state power purchase agreements.
Source: The Hindu - National ↗
Economy

NPCI introduces Minimum Debit Rate (MDR) on UPI to sustain the ecosystem

  • The National Payments Corporation of India (NPCI) has announced the imposition of a Minimum Debit Rate (MDR) on UPI transactions, ending the zero‑MDR regime.
  • NPCI told the Supreme Court that the exponential growth of UPI (over 10 billion transactions per month) is straining security, resilience and infrastructure requirements.
  • The MDR will help fund upgrades to the UPI backbone, fraud monitoring systems and ensure long‑term reliability of the digital payments network.
  • Banks and payment service providers will receive a nominal charge per transaction, while merchants are expected to bear minimal cost increases.
Source: The Hindu - National ↗
Economy

India aims for 3% CBG blending in D-PNG & CNG by FY24, 4% by 2027‑28 and 5% thereafter

  • Blending of Compressed Bio‑Gas (CBG) in D-PNG and CNG stood at 1.7% in the first half of FY2024.
  • The government has set a target of 3% CBG blending by the end of the current fiscal year.
  • Subsequent targets are 4% by FY2027‑28 and 5% by FY2028‑29.
  • Achieving these targets hinges on expanding pipeline connectivity to transport CBG from production hubs to dispensing points.
  • Higher blending is expected to reduce diesel and natural gas import bills and cut carbon emissions.
Source: The Hindu - Business ↗
Economy

CIBIL reports surge in repeat gold loan borrowing and heightened repayment stress among low‑risk customers

  • CIBIL's latest credit behaviour report shows a rise in repeat borrowing of gold loans by customers previously classified as low‑risk.
  • Borrowers who missed more than one EMIs in the past six months are three times more likely to become delinquent on future repayments.
  • The repayment stress is persisting despite tightening of credit underwriting norms by banks and NBFCs.
  • Gold loan portfolios contributed to over 25% of the growth in overall loan disbursements in the last quarter.
Source: The Hindu - Business ↗
Economy

10 smaller Gulf carriers denied airport slots at Mumbai

  • Mumbai International Airport will suspend services to 14 international destinations from its existing terminals.
  • All suspended flights will be redirected to the upcoming Navi Mumbai International Airport.
  • Ten smaller Gulf-based airlines were denied slot allocations at Mumbai due to capacity constraints.
  • The decision aims to de‑congest the existing runway and streamline operations for larger carriers.
  • The move is part of the government's broader plan to boost regional airport utilization.
Source: The Hindu - Business ↗
Economy

ONGC Q2 net profit jumps 57% on higher crude, gas realisations

  • ONGC reported a 57% rise in Q2 net profit compared with the same quarter last year.
  • The profit surge is attributed to higher realisation prices for crude oil and natural gas.
  • Along with the earnings, the company announced an interim dividend of ₹8 per equity share.
  • The stronger performance bolsters the government's fiscal position given ONGC's contribution to tax and royalty revenues.
Source: The Hindu - Business ↗
Economy

LIC Q2 profit rises 20% to ₹12,115 crore as VNB margin and net premium expand

  • LIC reported a 20% rise in Q2 profit, amounting to ₹12,115 crore.
  • The increase is attributed to higher VNB (Value of New Business) margins and a rise in net premiums.
  • Growth was driven mainly by non‑participating savings products and term assurance, which carry higher margins.
  • LIC expects further improvement in VNB margins owing to a favourable product mix and continued focus on high‑margin segments.
Source: The Hindu - Business ↗
Economy

Mobile retailers brace for 10% price hike post-Diwali as sales slump and AIMA forecasts 50% volume drop

  • The All India Mobile Retail Association (AIMA) projects a 50% decline in mobile phone sales volume after mid-November, with the slump likely to extend for an extended period.
  • Retailers anticipate raising mobile phone prices by about 10% after Diwali to offset the falling demand and rising input costs.
  • The expected price hike comes despite an already evident drop in sales, signalling pressure on both consumers and the mobile supply chain.
Source: The Hindu - Sci-Tech ↗
Economy

Commerce and Industry Buildings Inaugurated in Jaipur by Minister Piyush Goyal

  • Union Minister for Commerce and Industry, Piyush Goyal, formally opened the new Commerce Building and Industry Building in Jaipur.
  • The twin structures are intended to provide state‑of‑the‑art office space and support services for businesses, trade bodies and industrial units in Rajasthan.
  • The inauguration underscores the central government's emphasis on strengthening commercial infrastructure to boost regional economic activity.
Source: PIB India ↗
Economy

India secures $400‑bn investment commitments in renewable energy; ALMM review in 15 days

  • Union Minister Pralhad Joshi announced overseas investors have pledged about $400 billion for renewable energy projects in India.
  • The commitments span solar, wind and hybrid projects, supporting the target of 500 GW clean‑energy capacity by 2030.
  • A review of the Additional Load Management Mechanism (ALMM) will be conducted within the next 15 days to improve grid integration.
  • The large inflow of foreign capital signals confidence in India's policy stability and tariff regime for renewables.
  • These investments are expected to create substantial employment and help India meet its climate‑change mitigation goals.
Source: The Hindu - Business ↗
Economy

VIX remains high despite five‑day rally as investors await US policy on West Asia

  • The CBOE Volatility Index (VIX) stayed elevated even after Indian equity markets recorded a five‑day rally.
  • Market optimism was tempered by persistent global risks, including geopolitical tensions in West Asia.
  • Following the U.S. midterm elections, investor focus is shifting to the next steps of the U.S. administration regarding West Asian affairs.
  • Analysts warn that any escalation in the region could revive market volatility and affect capital flows.
Source: The Hindu - Business ↗
Economy

CCI approves Kotak Mahindra Bank’s acquisition of select Deutsche Bank businesses

  • The Competition Commission of India (CCI) cleared Kotak Mahindra Bank’s plan to acquire certain assets and operations of Deutsche Bank AG in India.
  • The acquisition covers Deutsche Bank’s corporate banking and small‑medium enterprise (SME) loan portfolios.
  • CCI’s approval was conditional on maintaining fair competition in the banking sector and complying with standard competition norms.
  • The deal is expected to enhance Kotak Mahindra’s market share in corporate and SME lending.
Source: PIB India ↗
Economy

CCI approves Sapphire US Holdco (USA) LLC's subscription to securities of Gentari Renewables India Pvt Ltd

  • The Competition Commission of India (CCI) granted approval to Sapphire US Holdco (USA) LLC for subscribing to certain securities of Gentari Renewables India Pvt Ltd.
  • The clearance was issued under the Competition Act, 2002, after confirming that the transaction will not adversely affect competition in the renewable energy sector.
  • Gentari Renewables India Pvt Ltd is a domestic renewable energy firm engaged in solar and wind power projects.
  • The approval facilitates foreign direct investment from the United States into India's clean energy space.
  • Post‑approval, the US entity can increase its equity stake and participate in the growth of India's renewable infrastructure.
Source: PIB India ↗
Economy

Telangana is an enabler for industry, business: Deputy CM Bhatti Vikramarka

  • Deputy Chief Minister B. Vikramarka stated that Telangana is positioning itself as a catalyst for industrial and business growth.
  • The statement underscores the state's focus on pro‑business policies, ease of doing business reforms, and investment‑friendly initiatives.
  • Telangana aims to attract domestic and foreign investments to boost manufacturing, services and allied sectors.
  • The emphasis aligns with the central government's 'Make in India' and 'Aatmanirbhar Bharat' agendas.
Source: The Hindu - National ↗
Economy

APSPDCL deploys over 2,000 staff for restoration works after cyclone damage

  • Andhra Pradesh State Power Distribution Company Limited (APSPDCL) has mobilised more than 2,000 personnel for post‑cyclone power restoration.
  • The teams are working on repairing damaged transmission lines, substations and distribution networks across the affected districts.
  • Priority is being given to restoring electricity to hospitals, schools, water‑pumping stations and residential colonies.
  • APSPDCL is coordinating with the State Disaster Management Authority to ensure safety and efficient execution of the works.
  • The restoration drive aims to normalise power supply for roughly 7 million consumers within the next few weeks.
Source: The Hindu - National ↗
Economy

Centre earmarks ₹2,814 crore for lithium and nickel processing scheme

  • The Union Government has allocated ₹2,814 crore for a dedicated lithium and nickel processing scheme.
  • Union Coal and Mines Minister G. Kishan Reddy announced the initiative to strengthen domestic capabilities in critical minerals.
  • The scheme aims to boost indigenous manufacturing of battery-grade materials and curtail dependence on imports.
  • It forms part of the broader strategy to develop a complete electric‑vehicle (EV) value chain in India.
Source: The Hindu - Business ↗
Economy

Mercedes-Benz to Scale Up Technology Sourcing from India and Launch Electric GLC at ₹78.5 Lakh

  • Mercedes-Benz Group AG announced plans to increase sourcing of technology and components from Indian manufacturers as part of its localisation drive.
  • The German automaker will launch the all‑electric GLC SUV in India with a base price of ₹78.5 lakh (ex‑showroom).
  • Initial production will be set up at Mercedes' existing plant in Pune, with a target to source up to 70% of parts locally over the next five years.
  • The move aligns with India’s "Make in India" initiative and the government’s push for greater EV adoption.
  • Mercedes aims to capture the premium EV segment, leveraging Indian market growth forecasts of 30% CAGR for electric vehicles by 2030.
Source: The Hindu - Business ↗
Economy

Apollo Hospitals Q2 revenue up 23% and profit up 32% on higher occupancy and international patient growth

  • Hospital business revenue rose 23% YoY in Q2 FY24, driven by improved occupancy and higher international patient inflow.
  • Overall bed occupancy across Apollo's network increased to 73% in the quarter, up from 68% in the same period last year.
  • Revenue from international patients jumped 37%, reflecting renewed confidence among overseas medical tourists.
  • Apollo Hospitals plans to add approximately 5,800 beds over the next five years to expand its capacity.
Source: The Hindu - Business ↗
Economy

Weaker dollar pushes gold prices higher as investors eye US mid‑term polls

  • The US dollar slipped to a five‑week low, easing the cost of dollar‑denominated assets for holders of other currencies.
  • Gold prices rose on the back of the weaker dollar, making the metal cheaper for non‑USD investors.
  • Market participants are closely watching the outcome of the US mid‑term elections scheduled for early November.
  • The currency movement could influence India's import bill for gold and affect domestic inflation trends.
Source: The Hindu - Business ↗
Economy

Adani Airports orders foreign airlines to shift operations to Navi Mumbai or cease flights to Mumbai

  • Adani Airports Holdings CEO Arun Bansal gave foreign carriers an ultimatum to relocate to the upcoming Navi Mumbai International Airport from April.
  • Airlines that do not move will have to suspend all flights to Mumbai, India's primary international gateway.
  • The directive follows Adani's plan to consolidate traffic at the new greenfield airport to boost capacity and reduce congestion at the existing Mumbai airport.
Source: The Hindu - Business ↗
Economy

HRV Pharma to acquire German firm Phatebo

  • HRV Pharma announced the acquisition of Phatebo, a German pharmaceutical company.
  • The deal expands HRV Pharma's portfolio from active pharmaceutical ingredients (APIs) to finished dosage formulations.
  • Post‑acquisition, HRV Pharma will operate a licensed manufacturing and marketing business in Germany.
  • The move is aimed at strengthening HRV Pharma's global footprint and enhancing export potential.
Source: The Hindu - Business ↗
Economy

NSE Q2 FY27 profit rises 23% YoY, but sequential earnings dip 17%

  • National Stock Exchange (NSE) reported a 23% increase in profit for Q2 FY27 compared to the same quarter last year.
  • Quarterly earnings fell 17% on a sequential basis due to higher operating expenses.
  • Average Daily Traded Volume (ADTV) in the cash market grew 24% YoY to ₹1,18,377 crore, boosting the bottom line.
  • The rise in trading activity offset the dip in sequential earnings, indicating robust market participation.
Source: The Hindu - Business ↗
Economy

Bangladesh disturbances likely to impact yarn, fabric exports

  • Political unrest in Bangladesh has disrupted operations of major textile and yarn mills.
  • Bangladesh accounts for roughly 38% of its total export earnings from garments and related fabrics.
  • Analysts project a 5-10% decline in Bangladesh's yarn and fabric exports for the current fiscal year.
  • Reduced supply from Bangladesh could lead to higher raw material costs for Indian garment manufacturers.
  • The Bangladesh Textile Mills Association has warned of possible shipment delays to overseas buyers.
Source: The Hindu - Business ↗