Author: NNI Editor

 Larsen & Toubro said it is betting on aerospace. File | Photo Credit: Reuters The conglomerate Larsen & Toubro (L&T) said it is betting on aerospace as a potential growth engine, including launch vehicle and satellite manufacturing, as the country cuts reliance on imports and boosts private participation.L&T, considered a bellwether for India’s infrastructure spending because of how many industries its work touches, is the country’s largest private-sector defense manufacturer by revenue; its Precision Engineering and Systems unit posted revenue of 46.10 billion rupees ($548.3 million) in the 2024 fiscal year, up 41% from the previous year.At its factory in…

Dharavi, one of the world’s densest urban sprawls, is a slum colony having a mix of residential and small industrial units.  | Photo Credit: NIHARIKA KULKARNI Mumbai’s Dharavi redevelopment project will continue to go on after the Supreme Court refused to stay it on Friday. A bench of Chief Justice Sanjiv Khanna and Justice Sanjay Kumar sought responses from the Maharashtra government and Adani Properties Pvt. Ltd., which was awarded the tender for the project, on a petition challenging a December 20, 2024 verdict of the Bombay High Court.The high court had cleared the decks for redevelopment of the slums…

Some 83% technology companies reported spending more than 2% of their total spends on corporate social responsibility (CSR) or 1.27 times more than non-technology companies, according to a joint report by Nasscom, Nasscom Foundation and Bod Consulting on Friday.Technology companies contribute significantly to CSR, accounting for 23% of CSR spending among India’s top 20 contributors, said the study.According to the study, in FY23, corporate participation in CSR activities saw a significant rise, with the number of companies engaged in CSR growing by 22% compared to FY22. Total CSR spending also witnessed a 13% increase over the previous year, while the proportion…

 Only 48% of India’s spice exports were valued-added products while the remaining bulk hit the market as culinary whole spices, says Ramkumar Menon. | Photo Credit: The Hindu Regardless of being the largest producer and exporter of diverse varieties of spices in the world, India’s share in the global seasoning market, pegged at $14 billion in 2024, is only a paltry 0.7%, against China’s 12% and U.S.A.’s 11%, said Ramkumar Menon, chairman, the World Spice Organisation (WSO).India currently exports 1.5 million tonne of spices of all kinds worth $4.5 billion, commanding a quarter of the global spice market valued at…

SEBI Chairman Tuhin Kanta Pandey addresses the Global Wealth Summit 2025 in Mumbai, Friday, March 7, 2025. | Photo Credit: PTI Securities and Exchange Board of India’s (SEBI) new Chief Tuhin Kanta Pandey, expressed the regulators’ interest in doing away with “redundant and outdated” statutes to ensure ”optimum regulation” at an event in Mumbai.“Capital market is a dynamic space so change is imminent but we will certainly not be looking for maximum regulation but for optimum regulation”, Mr.Pandey said. This is the first public speech since the beginning. He further said that he was looking forward to engage with stakeholders…

Image for representation purposes | Photo Credit: MURALI KUMAR K Industry leaders and entrepreneurs have reacted positively to the expansive, something-for-all Karnataka Budget 2025-26 tabled by Chief Minister Siddaramaiah at Vidhana Soudha in Bengaluru on March 7, 2025. Follow for live updates on Karnataka Budget 2025-26Creating business-friendly environment “With a strong focus on industrial development, welfare schemes, infrastructure, education, agriculture, tourism and healthcare, the State Government has addressed most concerns and has formulated well-drafted strategies in the larger interest of the industry in Karnataka. The expansion of the Bengaluru metro network, particularly with improved connectivity to Devanahalli, will significantly contribute…

A view of the Bombay Stock Exchange in Mumbai. File | Photo Credit: Reuters Equity benchmark indices Sensex and Nifty surrendered early gains to close almost flat in a highly volatile trade on Friday (March 7, 2025) as uncertainties over the global trade war sapped investor’s risk appetite.Snapping its two-day winning streak, the 30-share BSE Sensex slipped 7.51 points to settle at 74,332.58. During the mid-session, it climbed 246.34 points or 0.33% to hit an intraday high of 74,586.43.However, the broader Nifty of NSE edged up 7.80 points to close at 22,552.50. During the day, the 50-share barometer rose 89…

I know how time consuming and exhausting it can be to scroll through endless windows searching for the right outfit at the right price. All those tabs open on the laptop — whether I am on Instagram, Amazon, Net-a-Porter or Ensemble’s website. This is compounded by the fact that what I click on fuels algorithms, which throw up suggestions that I may not want. And I say this as someone who enjoys online shopping!Now, imagine the ability to have a fashion advisor at your fingertips whenever you need outfit ideas. With advancements in AI, that looks set to happen. “Daydream,…

Axis Bank did not disclose the size of the loan. File | Photo Credit: Reuters Axis Bank said it has become the first Indian bank to execute an aircraft financing transaction through its International Banking Unit (IBU) at GIFT City IFSC. The bank did not disclose the size of the loan. The deal was completed for AI Fleet Services Limited (AIFS), the leasing arm and wholly owned subsidiary of Air India (a Tata Group Company). It involves a long-term USD Loan for the purchase of 34 training aircraft, which will be deployed at Air India’s upcoming pilot training institute in Amravati, Maharashtra. Traditionally India’s…

The presentation of the Karnataka Budget 2025-26 by Chief Minister Siddaramaiah, in Bengaluru on March 7, 2025. | Photo Credit: CMO Karnataka’s budget outlay has for the first time crossed ₹4 lakh crore. In his 16th budget Chief Minister Siddaramaiah presented on Friday (March 7, 2025) for the fiscal year 2025-26, the total budget outlay has been estimated to be ₹4,09,549 crore. However, this budget has also been a revenue deficit budget, like the previous year’s budget. The revenue deficit has been pegged at ₹19,262 crore — down from ₹27,354 crore in 2024-25. The total revenue receipts is estimated to be…