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On the corporate front, HCLTech and Infosys leaders are calling for a shift from people-based IT services to platform-driven models. Meanwhile, Apple is making headlines with a massive $500 billion commitment to the US economy, aiming to create 20,000 new jobs.
Back home, India and the UK are back at the negotiating table for the FTA talks, with discussions on a Social Security Agreement back in play—though immigration remains off-limits.
Elsewhere, Russia and Ukraine are marking three years of war, insurers are debating whether to extend the free-look period, and Schneider Electric is doubling down on India with more local manufacturing and new factories.
Here are the top 10 buzzing stories from markets, business, economy, and beyond.
Nifty reports five-session losing streak dragged by IT and metal stocks
The Nifty ended lower for the fifth consecutive session on Monday, with weakness in global cues putting pressure on domestic indices. The Nifty 50 closed below the 22,600 mark, down 243 points to 22,553, while the BSE Sensex fell 857 points, ending at 74,454. The Nifty Bank and Midcap indices also saw substantial declines, with the Nifty Bank shedding 329 points to close at 48,652, and the Midcap Index falling 473 points to 50,013.
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India’s tech industry to cross $300 billion by FY26, Nasscom report finds
India’s technology sector is on track to surpass $300 billion revenue by fiscal year 2026 (FY26), despite ongoing volatility, according to a recent report by trade body Nasscom.
The report suggests that the industry’s growth will be propelled by significant advances in artificial intelligence (AI), particularly through the integration of Agentic AI, which is expected to drive major shifts in business models across enterprises.
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IT industry must shift from people-based to platform-based models, say HCLTech & Infosys CEOs
The IT services industry is at a turning point, with companies needing to move from traditional, input-driven models to more outcome-based approaches, according to top industry leaders.
Speaking to CNBC-TV18, C Vijayakumar, MD & CEO of HCLTech, highlighted the urgent need for transformation. “A large part of the industry is driven by an input-based model — either time and material or the number of people delivering certain outcomes. But we need to dramatically shift toward output- and outcome-based models,” he said. Vijayakumar stressed that businesses should embrace “service as a software” and move from people-dependent operational services to platform-based solutions.
Full story here
Apple to invest $500 billion in the US, create 20,000 jobs
Tech major Apple said on Monday that it plans to hire around 20,000 people and invest more than $500 billion in the United States (US) over the next four years. The investment plan includes the establishment of a new advanced manufacturing facility in Houston to produce servers that support Apple Intelligence.
“The $500 billion commitment includes Apple’s work with thousands of suppliers across all 50 states, direct employment, Apple Intelligence infrastructure and data centres, corporate facilities, and Apple TV+ productions in 20 states,” the company said in a release.
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61 gold bond tranches yet to be redeemed, current govt liability may climb to ₹1.12 lakh crore
Budget 2025 has probably made the government’s discomfort with sovereign gold bonds (SGBs) explicit. It has not only pencilled in zero borrowings against the instrument, indicating it would not be using that route to raise debt from the public, but also knocked off the earlier ₹15,000 crore estimate for SGB borrowings in the 2024-25 fiscal (FY25). To date, there have been no SGB issuances in FY25, which makes the February 2024 tranche the most recent.
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Insurers divided on government’s proposal to extend free look period
Life and health insurers have expressed mixed views on the government’s proposal to extend the Free Look Period (FLP) from one month to one year. The FLP allows policyholders to cancel their insurance policy without surrender charges if they believe it was mis-sold.
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Russia Gets More Aggressive Against Ukraine On Third Anniversary Of War
Russia Rages, Ukraine Grieves: Russia and Ukraine entered the third year of a full-blown war in the region with over 12,600 killed and more than 29,000 injured. Ukrainian President Zelenskyy announced that he is ready to leave the presidency if it brings peace to Ukraine.
EU and Israel resume dialogue with focus on Gaza’s future
Israeli Foreign Minister Gideon Saar called for a constructive dialogue but braced for criticism from some European countries as he arrived for talks on Monday in Brussels.
The Israeli minister is meeting senior European officials, reviving a dialogue with the European Union as the bloc considers a role in the reconstruction of Gaza following last month’s fragile ceasefire deal.
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India-UK FTA talks to cover Social Security Agreement; immigration not on agenda
India and the UK have resumed talks on a potential Free Trade Agreement (FTA) after nearly a year. The announcement was made by India’s Commerce and Industry Minister Piyush Goyal and the UK’s Secretary of State for Business and Trade, Jonathan Reynolds, in New Delhi.
Alongside the FTA, negotiations will also cover a double taxation avoidance agreement (totalisation agreement) and a Bilateral Investment Treaty (BIT). Nearly two years ago, India had requested the UK to consider a social security agreement.
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Schneider Electric to manufacture 90% locally, expands India operations with new factories
Schneider Electric is set to manufacture 90% of its products locally as it strengthens its presence in India. With three new factories in the pipeline, the company is expanding its manufacturing, R&D, and export capabilities, positioning India as a key global hub.
Olivier Blum, CEO of Schneider Electric, emphasised that India is now the company’s third-largest market, experiencing double-digit growth. The company is also increasing its focus on data centres, the energy transition, and AI-driven power solutions, working closely with the Indian government on grid modernisation and sustainability goals.
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