18 C 
Madhya Pradesh has transferred 317.86 crore in Rabi 202526 crop insurance payouts to eligible farmers under PMFBY, benefiting nearly 16.70 lakh applicants. Details here.
A little Nashik goes a long way in Italy
This month saw a Nashik company make waves by exporting wine equipment to Italy, a clear demonstration of India's burgeoning potential in the wine sector. The success of this small consignment is emblematic of an industry on the rise. Analysts predict domestic market expansion, particularly with relaxed state regulations, could see India's wine market soar to $2.6 billion by 2033, alongside a trend in non-grape wineries shaping the future.
Manufacturing, exports and banking are the themes which can deliver
R Sivakumar, CIO, Axis Mutual Fund, on valuations and earnings growth, and the outlook for Indian equity
IRDAI extends window for feedback on proposed insurance distribution reforms check new deadline
Indias insurance regulator has extended the deadline for feedback on proposed insurance distribution reforms to October 31, 2026, from October 25. Details here.
New GST Rules 2026: From November 1, reforms to be rolled out in phases - What CBIC confirmed
The Council has decided to amend the return filing mechanism so that tax declared as payable by a supplier, which is then passed on as ITC to the recipient, must actually be paid.
Home loan borrowers can transfer their balance to another lender multiple times, subject to eligibility and approval. Here's what it costs to do so and whether you should consider it.
Varanasi-Delhi Vande Bharat Sleep news: The second Sleeper Vande Bharat Express will be launched on the Varanasi-New Delhi route soon. It is scheduled for inaugural service on October 31, with key figures expected to flag it off. It will offer improved overnight travel options for Prayagraj-Delhi passengers alongside existing trains. The proposed timetable includes regular operations six days a week, excluding Saturdays.
The Income Tax Department has reminded deductors that deducting TDS is only the first step. Filing quarterly statements, depositing tax, and issuing certificates are equally important. Here are the applicable forms, compliance requirements, and key deadlines under the Income-tax Act, 2025.
Central government employees and pensioners are awaiting the July 2026 DA and DR revision. The increase could be announced after the next Cabinet meeting, possibly October 28. The final rate and timing remain subject to official confirmation.
India has reimposed anti-dumping duties of $460 to $681 per tonne on specified titanium dioxide imports from China for five years, following a fresh investigation into injury to domestic manufacturers. The Finance Ministry notified the levy on Saturday. The move could raise input costs for paint makers and other industries, potentially affecting prices, while certain pharmaceutical, cosmetic, food and textile applications remain excluded.
Small-cap mutual funds with the largest assets under management have posted negative one-year returns, while some smaller schemes have performed better. What explains this difference? Experts discuss the role of fund size, stock liquidity and other factors investors should examine before investing.
Taxpayers subject to audit requirements now have until November 21, 2026, to file returns for AY 2026-27, following a CBDT extension. Details here.
An Etihad Airways passenger has claimed they were downgraded from business class to economy despite paying the full fare. A reported airline letter cited high demand and offered a 75% refund for the affected flight sector, triggering a debate over airline accountability and passenger compensation.
One Science Nutrition: Building a science-led approach to sports nutrition
One Science Nutrition was co-founded by Aman and Aniket Vachher to create credible sports nutrition products. The brand aims to cater to evolving consumer expectations around product quality and transparency. Their product range includes various supplements that support diverse fitness goals and health benefits. Future strategies involve leveraging artificial intelligence to enhance consumer experiences and product discovery. The founders emphasize maintaining core values while pursuing growth in the nutrition industry.
The Railway Board is yet to decide whether loco pilots should face disciplinary action when blood tests detect very low alcohol levels despite negative breathalyser results. The issue came under scrutiny after the 2025 Bilaspur train collision, in which 12 people died. Railway medical officials and the Commissioner of Railway Safety have called for a review of the zero-alcohol rule, citing limitations in laboratory testing.
Learn six common investing mistakes to avoid, from chasing quick returns and following stock market rumours to ignoring diversification, risk and costs. Discover practical investing dos and don'ts to make informed decisions, manage market risks and support long-term wealth creation.
The Income-tax Act, 2025, came into effect on April 1, 2026, raising questions about losses carried forward under the old tax regime. CBDT FAQs explain the transition rules, including what taxpayers should check before adjusting past losses against future income.
You can open only 2 Sukanya Samriddhi accounts but what if you have triplet daughters?
The Sukanya Samriddhi Yojana helps families save for a girl childs future and permits accounts for two girls per family. Here's what happens if you have triplet daughters.
Adani Wind bags 696 MW turbine orders from 5 power producers, targets 10 GW capacity
Adani Wind has received significant orders for 696.2 megawatts of wind turbines from five power producers. The contracts involve projects in states such as Karnataka, Gujarat, and Maharashtra. Plans are in place to increase annual manufacturing capacity at its facility in Mundra from 2.25 GW to 5 GW. Additionally, the company aims for a long-term manufacturing capacity target of 10 GW.
Received cash, property, or jewellery as a gift? Under the Income Tax Act 2025, gifts exceeding 50,000 in a year are fully taxable, not just the excess amount. Know which gifts are tax-free and how marriage exemptions work.
NFO for the Motilal Oswal Nifty Midcap150 Plus 813 Yr G-Sec 70:30 Index Fund closes on October 26. The fund combines 70% Midcap with 30% Government Securities in one portfolio. Here's all you need to know
Tiger Shroff sells luxury apartment in Mumbais Khar for Rs 9 crore
Bollywood actor Tiger Shroff has sold his 1,291 sq ft luxury apartment in Mumbais Khar West for 9 crore, with the transaction registered on October 22. He had bought the property directly from the developer in July 2018 for 7.61 crore, marking an increase of about 18.3% in its sale price.
NH-48 traffic jam update: RTR flyover repairs complete, reopening expected Monday
Damage to Delhis Old Rao Tula Ram (RTR) flyover has triggered severe traffic congestion on NH-48, disrupting journeys between Mahipalpur, Dhaula Kuan, Vasant Vihar and the airport. The closure of a key carriageway has pushed motorists towards alternative routes, adding pressure to nearby roads and Delhi Cantonment. The Public Works Department has completed the repair work, and the flyover is expected to reopen on Monday after an inspection. Delhi Traffic Police has advised motorists to use alternative routes, allow extra travel time and call 1095 for assistance.
The Bombay High Court has ruled that EPFO cannot reject eligible private sector employees EPS 95 higher-pension applications solely because their employers PF trust rules cap contributions. It directed EPFO to process and allow the petitioners joint options within eight weeks.
Johnson & Johnson's prostate cancer drug shrinks tumors in early-stage trial
Johnson & Johnson reported results from an early-stage trial of their prostate cancer drug JNJ-6143. The trial involved patients with advanced prostate cancer who had undergone multiple treatments. Results showed 77% of patients experienced a significant drop in PSA levels after treatment. Additionally, 69% of patients demonstrated confirmed partial or complete tumor response through imaging. Common side effects included nausea and elevated cholesterol levels, with one patient discontinuing treatment.
Investor confidence in small and mid-cap stocks is strong, with rising valuations when compared to large caps. Last month, small and mid-cap funds garnered Rs 16,873 crore, accounting for 44% of the total equity fund inflows. Despite a drop in equity fund assets, overall inflows have seen a 31% uptick, indicating healthy market dynamics.
KEC International bags Rs 2,872 crore PGCIL orders for 765 kV transmission lines
KEC International has secured orders worth 2,872 crore from Power Grid Corporation of India Ltd for 765 kV transmission lines. These contracts involve the design, supply, and installation of the high-voltage lines. The latest wins have contributed to a significant year-to-date order intake surpassing 13,500 crore for the company. This includes a major contribution from the Transmission and Distribution division amounting to 9,500 crore.
Calculate gratuity after 10 years of service on 50,000, 1 lakh and 1.5 lakh monthly wages. Understand the gratuity formula, estimated payouts, eligibility rules and payment deadlines under the Code on Social Security, 2020, before planning your finances.
DP World PGTI, Essar Foundation launch Shri Shashi Ruia Memorial Golf Championship
DP World PGTI and Essar Foundation have launched the Shri Shashi Ruia Memorial Golf Championship, an annual tournament to honour the late Essar Group co-founder and promote professional golf in India. The five-year partnership will run through 2031, with the inaugural edition scheduled at Mumbais Willingdon Sports Club from January 12 to 15, 2027.
Gold- Silver rate today (October 24, 2026): Gold prices saw a decline on October 24, 2026, providing a welcome opportunity for jewelry shoppers. Major jewelers like Tanishq and Malabar Gold & Diamonds have released their prices across different cities.
EAAA India Alternatives IPO saw 65.42% of its anchor investor allocation go to domestic mutual funds. SBI Midcap Fund and ICICI Prudential Smallcap Fund received the highest allocations. Heres the complete list of schemes.
EPFO: Here's how pensioners can avail the doorstep digital life certificate (DLC) service from India Post to submit their Jeevan Praaman Patra.
Are gilt funds a good bet amid rising interest rates? What investors should know
Gilt funds are back in focus among investors with interest rates rising and bond yields across the world moving up sharply, as reported by ETBureau.
ICICI Bank, Indian Bank hike FD rates: Check latest rates for senior citizens and general depositors
ICICI Bank and Indian Bank have revised fixed deposit (FD) interest rates from 23 October 2026. Check the latest FD rates for general depositors and senior citizens, including higher returns on select long-term deposits and Indian Banks special 555-day and 777-day FD schemes.
The 8th CPC is consulting employees, pensioners and unions before submitting recommendations on salaries, allowances and benefits by May 2027. Here's what the ToRs state on dearness allowance and why employees are demanding DA merger
DA Hike 2026 UP Government Employees: Latest update, expectations on dearness allowance announcement
Uttar Pradesh government employees are awaiting a DA hike for July 2026 after the state last raised DA from 58% to 60% in May. Recent DA hikes in Himachal Pradesh and Kerala have raised expectations. Here's what you need to know.
Five equity mutual funds have offered over 18% annualised return on SIP investments in 10 years, as reported by ETWealth. (As of October 14, 2026)
The EPFO ECR deadline for September 2026 is 31 October. Find out how the revised 25,000 PF wage ceiling affects employee contributions, payroll calculations, mandatory EPF membership and employer compliance requirements.
Where should conservative investors invest Rs 10 lakh in a volatile market? Experts weigh in
With uncertainty clouding equity markets, investors looking to deploy a lumpsum face the challenge of allocating their money across asset classes. Four wealth management experts recommend a mix of equities, debt and gold, with the allocation depending on an investor
A7 International: Global payments from crypto wallet to local fiat
Transactions across borders have always been a challenge, plagued by slow bank transfers, endless paperwork, and hidden fees. A7 International changes that by bridging the gap between crypto and traditional banking.
Explained: What are rolling returns in mutual funds and how do you calculate them?
Rolling returns serve as a valuable tool for investors to assess mutual fund performance by averaging annualized returns over several timeframes. Unlike trailing returns that might reflect a distorted perspective, rolling returns utilize daily NAV data to provide a holistic view. By applying a CAGR formula, investors can evaluate consistency and adaptability of funds across diverse market conditions, making informed decisions easier and more precise.
DA hikes: From Himachal Pradesh's Diwali increase to Kerala, Telangana, Sikkim, Punjab and Andhra Pradesh announcements Check full list of states that have released dearness allowance hikes this year.
Will the 8th Pay Commission merge dearness allowance (DA) with basic pay? Here is what the 5th, 6th and 7th Pay Commissions recommended, along with FNPO, Bharat Pensioners Samaj and AIDEFs key demands. Read on to know more.
Ashwini Vaishnaw says India will have its own Indian-designed, manufactured and branded smartphones by October 23, 2028. Here's what the IT Minister revealed about India's plans to build a homegrown smartphone brand and compete in the global mobile phone market.
Akasa Air has announced the extension of its flight suspensions to Jeddah and Riyadh due to rising security concerns. The airline's decision is based on a careful assessment of the prevailing safety environment in Saudi Arabia. Passengers whose flights are affected can choose full refunds or reschedule their trips without extra charges. The Indian government is actively assisting stranded Umrah pilgrims and coordinating their return home.
7 discount, cashback credit cards for online festive shopping in 2026: One ofthem is lifetime free
Most of us will engage in festive shopping, making credit cards an appealing choice for discounts and cashback offers. But before choosing a card, analyse fees, rewards, and conditions on cashback. Check these 7 credit cards that are offering up to 10% cashback on online shopping, among other offers. These cards also have a low joining fee and one of them is lifetime free.
In instances where an individual passes away without leaving a Will, it may be essential for legal heirs to execute a release deed to streamline property division. This deed enables co-owners to relinquish their interests officially in favor of another heir, mitigating future inheritance disputes. Even registered Wills may occasionally require this document, particularly if the registrar mandates it, necessitating legal advice to navigate the challenges.
Volkswagen freezes India EV investment as JSW partnership talks continue
Volkswagen has paused further investment in its India electric-vehicle programme pending greater clarity on a potential partnership with Sajjan Jindals JSW Group. The German automaker has completed preliminary design work using a low-cost EV platform developed for China but awaits a clearer business plan. The pause could delay its India EV push as competition intensifies and affordable electric-car sales accelerate.
The 8th Pay Commission may consider raising the leave encashment limit for central government employees from 300 to 450 days. Know how the proposal could boost retirement payouts, what unions are demanding and whether the change has been approved.
Bank holiday today: Public and private lenders, including the State Bank of India, HDFC Bank, ICICI Bank and PNB branches, will be closed on 24 October for fourth Saturday off. Check the full RBI calendar here
Saturday bank holiday today: Are banks open or closed today on October 24, 2026?
Banks across India are closed today, October 24, 2026, marking the fourth Saturday of the month. Its advisable for customers to reschedule their banking activities for the following business day to ensure everything runs smoothly.
An Indian taxpayer from Bangalore faced a setback when his foreign tax credit was denied due to late submission of Form 67. However, the ITAT clarified that such delays shouldn't negate the entitlement to foreign tax credits. This pivotal decision, which takes into consideration recent legal interpretations on procedural mistakes, will now be forwarded to the Assessing Officer to reassess the claim.
In the UK, employees receiving per diem must be mindful of reporting amounts that exceed HMRC limits, as these payments are taxable income under UK law. Those who face expenses while at temporary jobs can benefit from tax relief, subject to defined limits. It's crucial to report accurately to prevent issues with tax authorities, with obligations varying by residential status and relevant treaties.
FD rate up to 8.5% for senior citizens investing for five years; know the list of banks
Senior citizens in India have exciting options for fixed deposits, with top banks enticing them with appealing interest rates. Leading the pack, Suryoday Small Finance Bank boasts a remarkable 8.5% for five-year deposits. It's important for savers to be aware of TDS regulations that apply on annual interest exceeding Rs 1 lakh, so filing Form 121 can prevent this.
Indians develop a taste for dark chocolate as household demand jumps 45%
Households in India are increasingly purchasing dark chocolate, with a significant rise in demand over recent years. Urban consumers account for the majority of dark chocolate purchases, driven by rising incomes and health awareness. The growth is supported by trends in quick-commerce, making premium products more accessible. Despite its growth, dark chocolate remains a small segment in India's larger confectionery market.
Carlsberg India's revenue dips 2% as sales volumes, market share rise
Carlsberg India reported a 2.3% decline in total income to 8,815 crore in FY26. Despite the revenue drop, net profit rose by 22.1% to 535 crore, surpassing United Breweries' profits. The company's market share improved to 16.2%, maintaining its position as India's third-largest brewer. Carlsberg attributed its profit growth to strong volume increases and enhanced brand performance.
States urged to enforce ban on reuse of single-use medical devices
The Directorate General of Health Services has issued a directive to prohibit the reuse of single-use medical devices. Violations by some private hospitals have raised concerns regarding patient safety and regulatory compliance. The directive specifically targets misuse in high-stakes medical fields such as cardiology and neurosurgery. Monitoring and enforcement of compliance by healthcare establishments have been mandated.
Diet Coke, beer makers get 6-month breather as govt extends aluminium can certification deadline
The government has extended the deadline for quality certification of aluminium beverage cans to April 2027. The extension provides manufacturers necessary time to increase production amidst growing demand. Many brands are experiencing supply challenges due to disruptions from the Middle East conflict. The beverage industry had hoped to produce additional cans but fell short of expectations. Consequently, manufacturers are seeking regulatory relief as they attempt to meet rising consumer needs.
Lava MD Sunil Raina, CFO Rajesh Sethi exit amid turnaround
Raina, who has been with the company for 16 years, will step down by the end of December, according to people familiar with the matter. Sethi is currently serving his notice period. Earlier, chief manufacturing officer Sanjeev Agarwal quit the company to join memory maker Micron.
Silver hits 11-month low of 1.95 lakh as crude stokes inflation fears
On the Multi Commodity Exchange (MCX), silver futures fell 6,799 per kg, or 3.4%, to 1,92,800 per kg on Friday. Prices have plunged 32,955, or more than 14%, over the past 10 sessions. A recent appreciation in the rupee has provided only limited relief against the decline in international prices.
The Reserve Banks framework on turnaround time and customer compensation for failed transactions sets clear deadlines. Here is all you need to know.
Indian realty sector sees 69% fall in deal value to USD 705 mn in Jul-Sep: Grant Thornton Bharat
Indian real estate recorded USD 705 million in deals in the July-September quarter. This marks a significant 69 percent decrease from the previous quarter's USD 2.3 billion. Deal volumes also fell by 38 percent quarter-on-quarter, indicating a cautious investment climate. Private equity remained a key contributor with nine transactions valued at USD 555 million.
Bombay High Court questions arrest of Schaeffler India chief after fatal factory accident
The Bombay High Court's ruling comes after an incident on June 9, 2026 left two workers dead from to a gas leak. Harsha Gopal Kadam's arrest followed on October 19, with fresh charges leveled against him. The court emphasised a lack of substantial evidence to warrant his continued custody.
Govt to fund 50% of deepwater exploration costs under Rs 84,084 crore Samudra Manthan scheme
The Indian government will provide financial support under the Samudra Manthan scheme for deepwater drilling activities. Recently issued guidelines extend this support to previously awarded Open Acreage Licensing Policy and Discovered Small Field blocks. Additionally, the financial assistance covers seismic surveys and a portion of exploratory well costs. Recovery of government funding will begin after commercial production or upon recovering 50% of costs.
GTPL Hathway begins publishing TV viewership data from 10,000+ set-top boxes
GTPL Hathway has introduced audience viewership data for TV channels through its set-top boxes across various markets. This is an industry first and adheres to the guidelines from the Ministry of Information & Broadcasting. It uses return path data to derive insights without collecting personally identifiable information from subscribers.
Tata Motors expects double-digit growth for CV industry in FY27
In the financial year 2026, India's commercial vehicle sales crossed the one-million mark with a 12.6 per cent rise to 10.80 lakh units. Almost 60 per cent of the industry volume comes from light commercial vehicles.
Sagarmala Finance Corp aims for Rs 60,205 cr disbursal by 2031
Sagarmala Finance Corporation Limited has announced a cumulative disbursement target of Rs 60,205 crore by 2031. The financing has reached Rs 11,563 crore, with Rs 5,107 crore disbursed so far. Union Shipping Minister Sarbananda Sonowal emphasized SMFCL's role in supporting port-led development and shipbuilding initiatives. The Maritime Investment Fund aims to strengthen long-term financing for maritime projects nationwide.
VISHWAS 2026 is a one-time settlement scheme that lets employers resolve disputes over damages levied for delayed Provident Fund contributions. Several High Courts have directed or encouraged employers to use the scheme to close pending litigation.
RBI alert about AI-driven cyber risks, banks taking steps to plug vulnerabilities: Governor
RBI Governor Sanjay Malhotra highlighted concerns regarding emerging cyber threats from artificial intelligence in banking systems. Measures are being implemented by banks and the RBI to secure IT infrastructure against these risks. The State Bank of India acknowledged potential data exposure, prompting increased vigilance for customer protection. Malhotra expressed confidence in India's robust forex reserves and external sector resilience amid these challenges.
JK Tyre to hike prices by 4-5% in Q3 as raw material costs stay elevated
JK Tyre & Industries Ltd intends to raise tyre prices by 4-5% in the current quarter. The company aims to offset higher raw material and container freight costs. This follows previous price increases of 5% and 7% in earlier quarters. The company reported a decline in profit for the July-September quarter amid challenging operating conditions. Rising costs of raw materials continue to impact the company's profit margins going forward.
IBM India leases 2.83 lakh sq ft office space in Bengaluru for 10 years
IBM India has leased an extensive office space at Radon tower in Bagmane Solarium City. The lease agreement spans over a decade, with estimated costs totaling Rs 522 crore. IBM will pay a monthly base rent of Rs 2.49 crore, subject to a 15% escalation every three years. Additionally, the company will incur fit-out costs over five years, approximately amounting to Rs 179 crore.
IAS Dhatri Reddy Leaves London Banking Career to Build Andhra Pradesh
An IAS officer is helping widen access to entrepreneurship across Andhra Pradesh, with RTIH reporting support for over 2,500 startups and engagement with more than 5,200 founders.
Income Tax Form 141 covers property sales, rent, contractor payments and more: Details here
Form 141 is intended to streamline TDS reporting and payment for transactions involving immovable property, rent, payments to contractors or professionals, and transfers of virtual digital assets (VDAs).
India's Scotch probe of Diageo, Pernod undermining India-UK pact benefits, trade group says
The British government said iconic UK products like whiskies would benefit from the pact. Indian investigators, however, have privately told companies the reduced rate does not apply to bulk Scotch concentrates, creating the first significant dispute over the free trade agreement since it took effect.
Goa rationalises aviation turbine fuel VAT to 7% from October 24, IndiGo welcomes move
Goa's government has announced a 7% value-added tax on aviation turbine fuel, starting in October 2026. IndiGo has expressed support for this decision, encouraging other states to implement similar strategies. The airline believes this change will enhance air connectivity and support Goa's tourism industry. The notification alters the existing VAT rate under the Goa Value Added Tax Act of 2005.
A division bench of Justices Rana Vikram Singh and Bibek Chaudhuri passed the order on October 9. Along with upholding the divorce, the court directed the husband to pay his estranged wife 36.25 lakh as permanent alimony.
Focused mutual funds hold up to 30 stocks but typically benchmark against the Nifty 500 TRI or BSE 500 TRI. Experts explain why this comparison can mislead investors, whether style-based benchmarks are needed, and how to assess returns, downside risk and stock selection.
Dhanteras shopping: A complete guide to buying gold, diamond jewellery safely
A BIS hallmark provides information about the purity of the gold in a jewellery article. It does not, by itself, certify the quality, authenticity or origin of every diamond or gemstone set in the piece.
Chennai-bound IndiGo flight returns to bay at Delhi airport after threat message
An IndiGo flight from Delhi to Chennai received a threat message before takeoff and returned to the bay. The Air Traffic Controller received a call alerting them about the threat concerning flight 6E 6091. A message was discovered in a lavatory instructing not to fly the aircraft. Following protocol, the plane was taken to an isolation bay for safety checks.
The Income-tax Act, 2025, effective April 1, 2026, introduces Form 141 to consolidate four TDS forms. Applicable from Tax Year 202627, it covers specified property purchases, rent, contractor and professional payments, and virtual digital asset transfers. Here are the thresholds and filing rules.
IIIT-Bangalore, Polands AGH University sign MoU for academic, research collaboration
The agreement covers joint research activities, development of academic programmes, exchange of academic materials and mobility opportunities for faculty members and students.
RBI tightens leverage ratio rules, keeps minimum capital thresholds unchanged
The RBI has tightened how banks calculate leverage by widening the measurement of derivatives, repo transactions and off-balance-sheet exposures, while retaining the minimum ratios at 4% for systemically important banks and 3.5% for others. The norms, effective April 1, 2027, also strengthen disclosure requirements and restrict the use of collateral and netting to reduce reported exposures.
Titan Company's luxury brand Zoya aims to reach 500 crore in revenue by FY27 as India's luxury jewellery market expands. It is targeting high-net-worth individuals who seek exclusive and unique jewellery pieces over traditional options. Zoya specialises in coloured gemstones, offering intricate craftsmanship and a range of prices to appeal to affluent consumers.
Adani Power CEO puts Q2 numbers in perspective, gives a peek into the road ahead
Adani Power CEO Khyalia said that the company remained focused on delivering reliable, high-quality electricity on schedule to meet Indias rising baseload requirements. Indias growing appetite for electricity is strengthening the case for thermal power, he added.
Senior citizens can earn up to 8.5% interest on fixed deposits in October 2026. Small finance banks offer the highest rates, followed by private and public sector banks. Here is a comparison of top FD rates across banks for 1-year, 3-year, and 5-year tenures.
Vaishnaw outlines India's new chip road map
India is aiming to move from 28-nanometre chip manufacturing to 3-nanometre technology by 2035, Union minister Ashwini Vaishnaw said as he outlined the countrys roadmap to build a competitive semiconductor ecosystem.Speaking at the NDTV World Summit on October 23, the minister laid out a roadmap that prioritises large-volume production, domestic design capabilities and a wider semiconductor supply chain.Vaishnaw said Indias semiconductor ambitions rest on a clear sequence: establish a foothold in high-volume chip manufacturing, develop domestic design capabilities and progressively move towards advanced technologiesAddressing concerns that India risks entering the industry with outdated technology, Vaishnaw said the strategy prioritises the segment where manufacturing dependence is most consequential. Around 75% of chips used across products, from refrigerators and automobiles to mobile phones, fall within the 28-nanometre to 19-nanometre range, he said.Also read | Apples iPhone Duo: A foldable leap with a few creases to iron outAlthough these legacy nodes command less value and involve lower complexity than advanced chips, they account for substantial volumes. Vaishnaw warned that manufacturing capacity in this segment was becoming concentrated in one country, creating a supply-chain vulnerability.Indias decision to begin with a 28-nanometre fabrication plant is intended to address this dependence and establish the country as a reliable manufacturing partner. The Tata project at Tolera is progressing well, he said. The roadmap envisages India producing 5-nanometre and 3-nanometre chips by 2035, with a progression from 28 nanometres to 14 nanometres and then to 5 nanometres.Vaishnaw said the first semiconductor mission had set a modest benchmark of three plants because of the complexity involved. India now has 15 plants, he said, while five have already started commercial production since the journey began in January 2022. A sixth is expected to be inaugurated shortly, and the 12 plants under the first mission are expected to be completed soon.Indian-made chips are already being exported to Japan, the US and Europe, reflecting the quality and reliability achieved so far, he said.Also read | India smartphone shipments fall to decadal low as prices squeeze demandThe second phase, Semicon 2.0, will place greater emphasis on building the ecosystem around fabrication plants and assembly, testing, marking and packaging (ATMP) facilities. Design will be its foremost priority, alongside materials and equipment.Vaishnaw said India would consider attracting at least three manufacturers of sophisticated semiconductor equipment to establish manufacturing and design operations in the country a measure of success. Bringing five manufacturers of highly pure chemicals and gases to India is another target. The initiative also aims to expand the pipeline of deep-tech startups capable of securing venture capital funding from around 20 under the first phase to 200.India already accounts for 20% of the worlds design engineers, supported by a talent pipeline spanning more than 300 universities, he said.Indian-designed phones on the horizonVaishnaw also outlined a broader ambition to retain intellectual property within India and develop an indigenous mobile phone brand. By October 23, 2028, he expects India to have mobile phones that are designed, manufactured and branded domestically.He cited the development of a locally designed mobile-phone motherboard by an Indian company, whose design was selected by one of the largest US telecom service providers. The company has already manufactured and delivered a 5G-plus phone to customers, demonstrating capabilities developed over three and a half years.Vaishnaw said the longer-term goal was to strengthen Indian ownership of technology and design as electronics becomes one of the countrys leading export sectors.The strategy, he noted, will be judged not merely by the number of semiconductor plants established, but by whether India develops the equipment suppliers, materials manufacturers, startups and design expertise needed to sustain the industry.
JSW Steel and Japan's JFE to add 5 MT steel capacity at Odisha JV plant with Rs 7,500 cr investment
JSW Steel and JFE Steel have entered into a mutual agreement to enhance their joint venture steel initiative in Odisha. With a notable investment of Rs 7,500 crore from both parties, this ambitious project targets an increased production capacity of 9.5 million tonnes by FY31. In addition, further investments will support improvements in other steel and mining activities, reinforcing their competitive edge and significantly upgrading their product range.
RBI issues final leverage ratio rules for banks
ICICI Bank, Indian Bank increase FD interest rates
ICICI Bank and Indian Bank have raised fixed deposit interest rates for select tenures effective October 23, 2026. Indian Bank also adjusted its rates, increasing FD rates on their special 555-day and 777-day FDs.
