Japanese electronics major Panasonic has exited India’s refrigerator and washing machine segments as part of a global restructuring strategy, marking a shift toward more profitable and future-ready verticals such as HVAC, B2B, and home automation.The two segments had been loss-making for the company in India, where it struggled to gain market share. According to GfK…
India’s cement industry experienced robust growth in May 2025, with volumes increasing by 9% and prices rising by 8%. ICRA projects continued volume growth of 6-7% for FY26, driven by housing and infrastructure demand. Improved operating margins are expected due to price hikes and favorable cost environment, with lower coal and steady diesel prices. India’s…
India will continue its robust economic growth trajectory and outpace major industrialised G7 countries, supported by strong domestic demand, sound macroeconomic fundamentals and a favourable demographic profile, the PHD Chamber of Commerce and Industry (PHDCCI) said in a report. The report, titled Population, Productivity, Partnership: Rethinking G7-India Collaboration, highlights that with an average real GDP…
United States contributed approximately $32 billion in remittances to India in 2023-24. (AI image) US remittance tax relief on the cards! Non-Resident Indians or NRIs have reason to breathe a sigh of relief as the final draft of the ‘One Big Beautiful Bill Act’ proposes just 1% tax on remittances, as against 3.5% earlier. Originally,…
The Ministry of Power on Saturday announced the formation of a task force to develop the India Energy Stack (IES)—a unified digital public infrastructure aimed at transforming India’s power sector with secure, standardised, and interoperable systems.Power Minister Manohar Lal Khattar said the IES will be instrumental in integrating renewable energy, boosting DISCOM efficiency, and ensuring…
SoftBank-backed Meesho has secured shareholders’ approval to raise up to Rs 4,250 crore via an initial public offering, according to the company’s regulatory filing.The resolution for the IPO was passed at the Extraordinary General Meeting held on June 25, the filing by the e-commerce firm stated, as reported PTI.As per the filing dated June 27,…
Bangladesh has paid $384 million to Adani Power this month, significantly reducing its outstanding dues under a 2017 power supply agreement with the Indian company, according to sources.As of June 27, Bangladesh has paid $384 million of the committed $437 million scheduled for the month. Sources said this amount clears the country’s “admitted” dues till…
Meesho representative image Bengaluru-based ecommerce marketplace Meesho has received shareholder approval to launch its initial public offering (IPO), aiming to raise Rs 4,250 crore (about $500 million) through a fresh issue of equity shares, according to filings with the Registrar of Companies.The approval was granted at an extraordinary general meeting of the company. The IPO…
The need to scale up research and development (R&D) across Indian academia and industry was a recurring theme at the ‘AI for India’ summit in Bengaluru, where leading voices in artificial intelligence stressed the urgency of cross-sectoral collaboration to make AI work at scale in India.“This is an opportunity. R&D must step up, and this…
Elon Musk-owned Starlink is poised to receive its final regulatory approval to launch satellite communication services in India, with space regulator IN-SPACe issuing a draft authorisation document for the company to sign. Once completed, the Indian National Space Promotion and Authorisation Centre will countersign the document, effectively clearing the way for Starlink to begin operations.The…
