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Supreme Court rules in tax department’s favour in Tiger Global case The Supreme Court has held that Tiger Global’s capital gains arising from its 2018 stake sale in Flipkart to Walmart Inc. are taxable under domestic law in a setback for the US investment firm.  The Apex court overturned a Delhi High Court ruling that allowed Tiger Global to claim exemptions under the India-Mauritius tax treaty. The decision is a win for local tax authorities, who argued that Tiger Global used its Mauritius entities to avoid paying taxes. The ruling can set a precedent for how India applies tax treaties to offshore exits, potentially increasing uncertainty for global investors seeking clarity on capital gains. Tiger Global first invested in Flipkart in 2009 with an initial $9 million. Over the following years, it steadily increased its exposure to about $1 billion, building a stake of roughly 20% in the company. In 2017, Tiger began monetising the investment by selling part of its holding to SoftBank Group Corp. December trade deficit widens as imports surge 8.8%, export growth modest at 1.86% India’s goods trade deficit widened significantly in December 2025 to $25.04 billion from $20.63 billion in previous December as exports increased 1.86 per cent (year-on-year) to $38.51 billion while imports grew at a higher 8.8 per cent to $63.55 billion, per data released by the Commerce Department. Exports to the US declined a marginal 1.83 per cent in December 2025 to $6.89 billion amid the 50 per cent tariffs applied by Washington on most Indian exports in August-end. “In the US we are still holding on as there is more focus on areas where tariffs are low. Where tariffs are more, exporters are showing more resilience and holding on to the supply chains,” Commerce Secretary Rajesh Agrawal said at a media briefing on Thursday. On the proposed India-US bilateral trade agreement (BTA), the Secretary said the negotiations were on in a virtual mode and efforts were on to close gaps in the “remaining issues”. SEBI weighs oversight of unlisted share market as focus shifts to disclosure gaps The Securities and Exchange Board of India (SEBI) is examining whether it should step in to regulate the fast-growing unlisted share market, which currently operates largely outside its direct oversight, Chairman Tuhin Kanta Pandey said on Thursday. Speaking on the sidelines of the Association of Investment Bankers of India’s (AIBI) annual convention, Pandey said SEBI is discussing the issue with the Ministry of Corporate Affairs to assess whether the regulator has the legal authority to oversee companies that are not listed on stock exchanges, and if so, how far such regulation can extend. “SEBI first needs to examine whether it has the legal authority to regulate companies that are not listed on stock exchanges and how far such regulation can extend,” he said. Mumbai civic polls heat up as Fadnavis, Thackeray brothers trade barbs As polling took place in Mumbai on January 15, the political temperature rose sharply, with a fierce exchange of words between Maharashtra Chief Minister Devendra Fadnavis and the Thackeray brothers amid a tightly fought election to the Brihanmumbai Municipal Corporation (BMC). Shiv Sena (UBT) chief Uddhav Thackeray appealed to Mumbai’s voters to turn out in large numbers, calling the civic polls an opportunity to unseat what he described as a corrupt BJP regime.Uddhav’s party, along with Raj Thackeray’s Maharashtra Navnirman Sena (MNS), also deployed so-called “Bhagwa Guards” in several constituencies to keep a watch on alleged dual voting. State Election Commissioner Dinesh Waghmare said that after voting ended at 5:30pm, that the turnout so far is 46-50 per cent, which is higher than the figure for the 2017 civic polls. The results of the Mumbai civic polls will be out on Friday, January 16.

Infosys Q3 results: Revenue jumps 8.9% to ₹45,479 crore; beats expectations Infosys reported a decline in profit for the December-ended quarter of FY26, with PAT falling 9.6% sequentially and 2.2% year-on-year (YoY) to Rs 6,654 crore. Despite the dip, the IT major raised its constant currency revenue growth guidance for FY26 to 3–3.5%, up from the 2–3% forecast issued in the previous quarter. Revenue rose 8.9% YoY and 2.2% quarter-on-quarter to Rs 45,479 crore. In constant currency (CC) terms, revenue grew 1.7% YoY and 0.6% QoQ. Large deal momentum improved, with total contract value (TCV) reaching $4.8 billion during the quarter, including 57% net new deals, up from $3.1 billion in the September quarter. PM Internship scheme falters as funds go unused Data from Controller General of Accounts (CGA) showed as against the budget allocation of over Rs 11500 crore, the Ministry spent little over Rs 500 crore. The allocation for the full year has a 94 per cent share, or over Rs 10,800 crore, for the PM Internship Scheme. During FY25, budget allocation was revised to around Rs 1,078 crore from Rs 2,667 crore. The ministry had admitted before the Standing Committee that it was largely because the funds were surrendered under the PM Internship Scheme. CGA data showed actual expenditure was around Rs 680 crore only. Maharashtra, Tamil Nadu top performers in Niti Aayog’s export preparedness index 2024 Maharashtra has topped the Niti Aayog’s Export Preparedness Index (2024) in the large States category followed by Tamil Nadu and Gujarat in the second and third places respectively.  Uttarakhand, Jammu & Kashmir and Nagaland bagged the top three spots among small States, North East and Union Territories. The report was released by Niti Aayog CEO B V R Subrahmanyam on Wednesday. EPI 2024 assesses the export capabilities (performance and readiness) and potential of Indian States and Union Territories covering the period FY2022-FY2024 and has been prepared with the support of Deloitte. India steps up bunker construction along LoC after Operation Sindoor  Following Operation Sindoor, the central government has intensified its focus on strengthening border infrastructure in Jammu and Kashmir. In north Kashmir’s Uri sector, the government is constructing at least 500 new bunkers to protect civilians living along the Line of Control (LoC), officials said, as part of broader measures aimed at enhancing safety in border areas vulnerable to cross-border shelling. The lack of adequate bunkers in border areas across Jammu and Kashmir during the Operation Sindoor operation laid bare the risks faced by residents during periods of heightened tension along the 740-km-long LoC.

Amidst changing business environment, Tata Consultancy Services has embarked on a transformation journey with AI at its centre. In conversation with businessline, TCS CEO K Krithivasan and CFO Samir Seksaria, talk about how enterprise clients are accelerating AI decisions despite global uncertainty, how deal cycles are shortening, and why the long-held American dream is no longer the primary aspiration for India’s IT talent. Read the full interview by Vallari Sanzgiri and Thomas K Thomas in the Hindu Businessline. ‘No more 10-minute delivery’: Quick commerce players do away with deadline after labour minister intervenes Union Labour Minister Mansukh Mandaviya has persuaded major delivery aggregators to remove the mandatory 10-minute delivery deadline, following a series of sustained interventions, sources said Tuesday. A meeting was held with leading platforms including Blinkit, Zepto, Zomato and Swiggy among others to address concerns related to delivery timelines. According to sources, Blinkit has already acted on the directive and removed the 10-minute delivery promise from its branding. Other aggregators are expected to follow suit in the coming days. The move is aimed at ensuring greater safety, security and improved working conditions for gig workers. World Bank estimates 7.2% growth for FY26, 6.5% for FY27 World Bank on Tuesday pegged FY26 growth rate at 7.2 per cent which is lower than government’s projection of 7.4 per cent. For the next fiscal, the growth rate could be 6.5 per cent. “Growth in India is projected to slow to 6.5 percent in FY2026/27, assuming that the 50 percent import tariffs by the United States remain in place throughout the forecast horizon,” the Bank said in its latest Global Economic Prospects report. Securities transaction tax collection likely to miss Budget target The regulatory tightening of Futures and Options (F&O) trading, among other factors, led to a decline in securities transaction tax (STT) collections. Should current trends persist, revenue is expected to fall short of underperform against Budget estimates, a scenario not seen since FY20. Data made public by the Income Tax Department show that STT collection was around ₹44,500 crore as on January 11. Meeting Budget estimates will require a collection of over ₹33,400 crore in the remaining 79 days, a target that appears increasingly challenging.

Retail inflation rises to 1.33% in December Retail inflation based on Consumer Price Index (CPI) rose to 1.33 per cent in December as against 0.71 per cent of November, Statistics Ministry reported on Monday. some of the data points are as follows Rural Inflation: An increase in headline and food inflation in rural sector was observed in December, 2025. The headline inflation in December was at 0.76 per cent while it was 0.1 per cent in November. Urban Inflation: An increase from 1.4 per cent to 2.03 per cent was observed in headline inflation of urban sector. Increase is also observed in urban food inflation from (-)3.6 per cent in to (-) 2.09 per cent. Social security. Govt mulls raising EPFO, ESIC wage ceiling to ₹30,000 Following a recent directive from the Supreme Court of India and a long-standing demand from labour unions, the Ministry of Labour and Employment is actively examining a proposal to revise and standardise the wage ceilings for both the Employees’ Provident Fund Organisation (EPFO) and the Employees’ State Insurance Corporation (ESIC). At present, the EPFO wage ceiling stands at ₹15,000 per month, while the ESIC threshold is ₹21,000. It is proposed that both ceilings be revised and capped at a uniform monthly level of ₹25,000 to ₹30,000, sources familiar with the matter said. TCS profit falls nearly 14%at ₹10,657 crore for Q3 Tata Consultancy Services (TCS) net profit declined 13.9 per cent to ₹10,657 crore for the third quarter of the financial year 2025-26, compared to the same quarter of the previous fiscal year, owing to exceptional items like restructuring expenses, new labour code impact, legal claim. Net profit declined by 11.7 per cent on a sequential basis compared to ₹12,075 crore reported in Q2 of FY26. Exceptional items including cost of restructuring cost of ₹253 crore, impact of new Labour Code amounting to ₹2,128 crore, and provision towards legal claim of Rs 1,010 crore. Setback for ISRO: PSLV-C62 mission faces anomaly at the end of third stage The Indian Space Research Organisation (ISRO) encountered an anomaly at the end of the third stage of the PSLV-C62 mission, which was carrying the EOS-N1 Earth Observation satellite along with 15 co-passenger satellites from domestic & international customers on Monday. The mission saw successful takeoff at 10:18 AM from the First Launch Pad at Satish Dhawan Space Centre, Sriharikota. After completion of the first two stages, the mission saw anomalies towards the end of the third stage. As a result, the payload, which included domestic and international satellites along with a special DRDO spy satellite, was not deployed into the intended orbit.

ISRO to kick off 2026 with launch of Earth Observation Satellite The Indian Space Research Organisation (ISRO) is getting ready to launch the PSLV-C62 mission carrying the EOS-N1 Earth Observation satellite along with 15 co-passenger satellites from domestic & international customers on Monday. The mission is the ninth dedicated commercial mission undertaken by NewSpace India Limited (NSIL), the commercial arm of the space organisation. This launch will be the 64th flight of the Polar Satellite launch Vehicle(PSLV) - a workhorse of ISRO’s notable missions like Chandrayaan-1, Mars Orbiter Mission, Aditya-L1 and Astrosat Mission.  The PSLV-C62/EOS-N1 mission would initially deploy the Earth Observation Satellite-N1 made by DRDO, followed by other co-passenger satellites into the sun-synchronous orbit around 17 minutes after lift-off. The mission will carry satellites from Indian start-ups like Dhruva Aerospace and OrbitAID Aerospace’s AayulSAT, an experimental payload to demonstrate in-orbit satellite refueling technology. X accepts its mistake, says will work as per Indian laws: government sources After a few exchange of communications, Elon Musk-owned X (formerly twitter) has finally accepted its mistake and stated that around 3,500 pieces of content have been blocked, and over 600 accounts were deleted from its chatbot ‘Grok’. The company has also said that going forward, it will not allow obscene imagery, adding that it will work as per law of the land. “X has accepted its mistake and has said it will work as per Indian laws. The company has blocked around 3,500 pieces of content and over 600 accounts were deleted. Going forward, X will not allow obscene imagery,” a senior official at Ministry of Electronics and Information Technology (MeitY) told businessline, reports S Ronendra Singh. SEBI set to give the nod for NSE IPO with NOC likely to be issued in a month’s time The No Objection Certificate (NOC) for the much-anticipated listing of the National Stock Exchange (NSE) is likely to be issued as early as in a month’s time, as per SEBI Chairman Tuhin Kanta Pandey. “They are right now waiting for our no objection and once they get it, they have to follow other processes and go ahead with preparations...Possibly within this month we will issue it [NOC],” Pandey said in a select media round table in Chennai, reports Sindhu Hariharan. Censor politics: The delay of actor-turned politician Vijay’s Jana Nayagan likely to redraw TN poll alliances The denial of the Censor Board nod to Jana Nayagan, starring actor-turned-politician Vijay could potentially alter the political equation in the Tamil Nadu with Assembly polls three months away, and has set off various alliance possibilities, say political observers. Jana Nayagan has been touted as the much-anticipated farewell film for Vijay, the founder of political party Tamilaga Vettri Kazhagam (TVK) who threw his hat into the TN political ring. The movie was scheduled to be released on January 9 but its release now stands indefinitely postponed due lack of censor certificate, writes TE Raja Simhan. And from this week’s portfolio edition How safe are large-cap stocks? Over the last one to two years, it has become almost cliched to point out that large-caps are attractive/offer value than small- and mid-cap stocks. How true is that? Of the 100 large-caps, 96 hit their all-time highs in the past five years and 42 of these 96 are trading at least 20 per cent below their peaks. So, before tuning into the usual safety mantras for large-caps, investors should get a hang of why many stocks in that segment, too, have tanked. Bl.portfolio’s conducted an analysis (data from Bloomberg) to find whether large-caps delivered earnings in line with consensus estimates prevailing at their all-time highs. Nishanth Gopalakrishnan explains.

🎧 On today's episode:From SEBI charging BofA India over insider-trading lapses in a 2024 block deal, to the US pulling out of the International Solar Alliance. India and Germany close in on an $8B submarine pact, while Tamil Nadu launches India’s first deep-tech startup policy with a ₹100-cr fund.​

🎧 On today's episode: From FY26 GDP growth accelerating to 7.4% on strong services momentum, to SEBI postponing B-30 mutual fund incentives for smaller cities until March 1. A UP sugar mill sheds its colonial name tied to Bhagat Singh s judge, while Dhurandhar smashes records as Hindi cinema s top-grossing film ever at ₹831 crore.

🎧 On today s episode: Crorepati taxpayers surge even as India s overall return filings barely budge, spotlighting a sharper skew in incomes and a maturing but narrow tax base at the very top. India s steel giants come under the scanner as a competition probe flags alleged price collusion at Tata Steel, JSW Steel, SAIL and others, raising tough questions on market power, compliance, and penalties for top executives. Services momentum cools but stays solid, with December s PMI easing to an 11‑month low of 58, as resilient demand, exports, and benign inflation offset rising competition and currency jitters heading into 2026. And despite fresh US tariffs, India s exports to America jump, powered by a spike in high‑value telecom gear like new‑generation smartphones and petroleum products, underscoring how Indian manufacturers are climbing the value chain even under trade pressure.

🎧 On today’s episode: Trade tensions resurface as Donald Trump warns of new tariffs over India’s Russian oil purchases. Turbulence at Air India — insiders question if Tata’s turnaround plan needs new leadership. Despite U.S. overtures, experts say India-Venezuela energy ties won’t surge anytime soon. And in Andhra Pradesh, a gas leak at an ONGC drilling site sparks chaos but no casualties.

🎧 On today’s episode: From unexpected winners in AI, crypto, and commodities, to Indian investors facing overseas fund caps, luxury EV trends under GST 2.0, and U.S. oil plans in Venezuela.  

The government’s ₹11 lakh crore infrastructure spending in FY26 aims to boost connectivity, efficiency and sustainability. While such investment offers high multiplier effects, outcomes depend on utilisation and execution. In this businessline podcast – year-ender series, Janaki Krishnan discusses the opportunities and challenges in India’s infrastructure push with Dr. Manoranjan Sharma, Chief Economist, Infomerics Ratings.

Despite the growth of OTT platforms, 2025 proved a landmark year for Indian cinemas, with box-office revenues surpassing ₹13,000 crore. Kamal Gianchandani, President of the Multiplex Association of India, explains why theatrical releases continue to matter and how a wide range of content—from big-budget spectacles to animation—has resonated with audiences. In this BusinessLine year-end podcast on the entertainment sector, hosted by Meenakshi Verma Ambwani, Gianchandani also reflects on the defining trends of 2025 and shares his outlook for the film industry in 2026.

India’s economy and markets 🎧 On today’s episode: From strong auto and tractor sales to updated GST rules, and international reinsurers entering GIFT City, here’s an overview of key market and policy developments.

With continued reforms and strong production growth, India's defence industry is at a turning point as 2025 comes to an end. Businessline's Dalip Singh and Rajinder Singh Bhatia, President SIDM, and Chairman Kalyani Strategic Systems Ltd, discuss major developments influencing the defence industry in this exclusive Year-Ender podcast. According to Bhatia, total defence production increased by 16–18% to ₹1.51 lakh crores, and the private sector in India made a substantial contribution to the country's readiness, as demonstrated by top-notch systems used in operations like Operation Sindhoor. Expectations for announcement of revised DAP 2025 and last year’s reforms like the Defence Production Manual (DPM) opening ammunition to private players are discussed, along with other goals like necessity for theatre commands. With capital acquisitions up over 20% and budget growth of 9–10%+ anticipated for 2026–2027, the sector aims to produce ₹3 lakh crores by 2029–2030.

Stepping into 2026: Telecom, gig workers, economy, and exports 🎧 On today’s episode: Vodafone-Idea gets AGR relief, Zomato and Swiggy raise payouts amid strike calls, RBI highlights global risks but backs India’s resilience, and a ₹4,531-crore scheme boosts exporters.

As 2025 draws to a close, India's economy navigates fiscal pressures and growth uncertainties. In this special Year-Ender podcast, businessline’s Shishir Kumar Sinha speaks with Ranen Banerjee, Economist at PwC, to unpack key trends shaping the Indian economic landscape. ​ Banerjee anticipates gross tax revenues at 94-95% of budgetary estimates with a shortfall of 1-1.1 trillion rupees, offset by higher RBI dividends and public sector enterprise payouts, keeping the fiscal deficit near the 4.4% target. Discussions highlight robust government CapEx supporting infrastructure amid lagging private investment due to capacity utilization at 70-75% and global headwinds. Looking to FY27, growth is projected at 6.5-7% with inflation at 3.5-4% post base year changes.

Your markets and policy update Data privacy, spectrum policy, energy flows, and carbon costs 🎧 On today’s episode: India Inc braces for steep data protection costs, a new spectrum roadmap powers future connectivity, Russian crude imports fluctuate under sanctions, and EU carbon rules tighten margins for Indian metal exporters.

In this year-end special, businessline’s Aishwarya Kumar speaks with Vishal Bali, Executive Chairman, Asia Healthcare Holdings (AHH), on the dramatic shifts reshaping Indian healthcare in 2025. They discuss how consolidation has moved from a strategic possibility to an industry-wide imperative, driven by fragmented markets, rising middle-class demand, and underfunded public healthcare.  The conversation covers the surge in mergers and acquisitions, expanding opportunities in tier 2 cities, the role of private equity in fueling growth, and the sector’s path toward greater scale and efficiency. Bali also shares insights on how corporate hospitals are bridging gaps in access and quality while preparing for the next wave of growth in India’s healthcare landscape. Tune in to hear the full story and understand the trends shaping the future of healthcare in India. Data inputs from Kaivaan Movdawalla, Partner, and National Healthcare Leader at EY- Parthenon India.

Welcome to 'The morning report' brought to you by Renil S Varghese — your quick dive into the top stories shaping the business world today. Fast, insightful, and to the point. Check out the top news for the day.

As 2025 draws to a close, the insurance industry stands at an important inflection point. In this special bl Year-ender podcast , businessline’s Nagar Sridhar speaks with Naveen Chandra Jha, MD & CEO of SBI General Insurance, to decode the key trends shaping India’s general insurance landscape. From expectations of 9–10% industry growth and the rising dominance of health insurance, to upcoming regulatory shifts like IFRS 17 and risk-based capital, Jha shares an insider’s perspective on what lies ahead. The conversation also dives into pressing challenges such as climate risks, cyber threats, underinsurance, and the need for innovative protection products.

Welcome to The morning report brought to you by Renil S Varghese — your quick dive into the top stories shaping the business world today. Fast, insightful, and to the point. Check out the top news for the day.

As part of the businessline podcast – year-ender series, Sandeep Chordia, Chief Operating Officer of Kotak Securities, outlines SEBI’s priorities in the capital markets. The discussion looks at enforcement trends, settlement cycles, derivatives regulation, SME listings, and the regulator’s outlook for the year ahead.

Gold and silver hogged the limelight in 2025, hitting record highs amid global economic slowdown, geopolitical tensions, and currency fluctuations. In this episode of the Year-end podcast on commodities, Subramani Ra Mancombu speaks with Anindya Banerjee, Head of Currency and Commodity Research at Kotak Securities, to unpack the reasons behind this surge and explore what 2026 holds for precious metals. Will silver outshine gold again? Tune in for expert insights on trends, risks, and opportunities in the bullion market.

Get today’s top business news, market headlines about the Stock Market, Sensex & Nifty trends, key market insights, economic highlights, and the latest updates from India and global markets.

In this year-end special, businessline’s Chitra Narayanan speaks with Dheeraj Sinha, Group CEO , FCB India (Now McCann), on the dramatic shifts reshaping advertising, from fragmented media and fading attention to influencer fatigue, consolidation, and changing ideas of creativity as 2026 nears.  Sinha unpacks why big-budget campaigns struggle to stand out, what brands misunderstand about a hyper-connected yet lonely Gen Z, and how the industry is moving through a phase of “storming, forming and norming” toward its next chapter.  (Host: Chitra Narayanan, Producer: Prethicshaa Gurumoorthy) 

Get today’s top business news, market headlines about the Stock Market, Sensex & Nifty trends, key market insights, economic highlights, and the latest updates from India and global markets.

India’s oil and gas sector saw slower consumption growth, increased reliance on imported crude, pressure on gas infrastructure returns, and policy moves like the unified gas tariff in 2025. As part of the BusinessLine Podcast – Year-Ender Series, Rishi Ranjan Kala speaks to Prashant Vasisht, ICRA Vice President & Co-Group Head (Corporate Ratings) on sectoral challenges, recent achievements, and the road ahead for 2026.

Get today’s top business news, market headlines about the Stock Market, Sensex & Nifty trends, key market insights, economic highlights, and the latest updates from India and global markets.

2025 has been a turning point for AI and tech policy in India. In this year end podcast, businessline's Sindhu Hariharan speaks with Suraj Amonkar, Chief AI Research & Platforms Officer, Fractal Analytics, about how the IndiaAI Mission has accelerated the ecosystem — from GPU access and sovereign model development to AI governance and the rollout of the DPDP Act. Suraj reflects on why this year marks an inflection point for AI in India, and how Fractal has built on years of deep research to advance foundation models, reasoning systems, diffusion models and agentic AI. He also discusses the company’s growing presence at top global AI conferences, its open-source work — including the Fathom model series and Kaleido diffusion models. The conversation looks ahead to 2026, examining how the IndiaAI Mission could enable larger, more ambitious models and what that means for India’s role in global AI research and deployment.

Get today’s top business news, market headlines about the Stock Market, Sensex & Nifty trends, key market insights, economic highlights, and the latest updates from India and global markets.

In this episode of the BL year-end podcast on clean tech, Businessline’s M Ramesh speaks to Disha Agarwal, senior programme lead at the Council on Energy, Environment and Water (CEEW), and Dr Vaibhav Chaturvedi, senior fellow at CEEW, on India’s climate and energy story in 2025. They discuss record renewable energy additions, falling costs, and the growing role of battery storage, alongside persistent challenges related to land, grids, and transmission. The conversation also examines India’s national adaptation plan, the development of domestic compliance carbon markets, and the implications of Europe’s carbon border tax for Indian firms, providing a grounded assessment of India’s climate action and its future direction. Here’s what they had to say.

2026 India equity outlook of fund managers: What if ChatGPT, Meta AI, Gemini, DeepSeek and Claude wrote them instead As 2026 outlooks arrive, fund managers once again use familiar language — constructive, selective, disciplined and long term. Five AI models were asked to replicate this exercise, producing views that prioritise reassurance over clear forecasts.The exercise shows a consistent pattern: acknowledge risks, avoid binary calls and return to the same conclusion — stay invested, remain selective and maintain SIP discipline. Read more here Why small-cap funds test investor patience despite SIP discipline Small-cap funds have attracted a surge in retail participation, but they come with deeper drawdowns, longer phases of underperformance and higher volatility than mid- and large-cap funds. While SIPs can soften the impact over time, they do not eliminate extended periods of weak returns, making patience and a long investment horizon essential for investors. Read more here Why women farmers are India’s most underserved borrowers and how loans can change that? Women form a large share of India’s agricultural workforce but remain marginal borrowers because limited land ownership and systemic barriers restrict access to formal credit. New collateral-free and simplified lending models are expanding access, helping women manage farm needs, smooth incomes and build financial resilience when credit is provided responsibly. Read more here Delhi intensifies GRAP-IV crackdown as over 600 non-compliant industries face closure Delhi has intensified GRAP Stage IV enforcement, conducting over 3,000 inspections and initiating closure or sealing action against more than 600 non-compliant industrial units. Alongside this, vehicular checks have surged, with nearly 17,000 vehicles inspected in three days, over 12,000 challans issued and close to 1,500 vehicles impounded as authorities target all major pollution sources. Read more here (Research: Shakthi, VO: Siddharth Mathew Cherian)

A member of SEBI (Securities and Exchange Board of India) board will be asked to disclose any interest even that of his family member, while participating in the decision making, under a new proposed Bill -The securities markets code, 2025. Also, the market regulator will have to transfer its surplus to the government. The proposed law, once enacted, will replace the Securities Contracts (Regulation) Act, the Securities and Exchange Board of India Act, 1992 and the Depositories Act, 1996. Now, the Bill will be examined by a select committee before taken for consideration and passage. The Code further seeks to strengthen investor protection, promote investor education and awareness, and ensure effective and time-bound redressal of investor grievances. Moving on to the aviation sector…The Competition Commission of India (CCI) on Thursday initiated proceedings against IndiGo under the provisions of the Competition Act, 2002 for recent flight disruptions across various routes. According to a CCI communique, based on an “initial assessment” of the disruption in the aviation sector, proceedings will be initiated under the anti-competition law. What this means is that the Commission has formed a prima facie opinion about evidence of a market disruption caused by IndiGo’s market dominance, to warrant a formal probe. The will follow a formal inquiry by the Director-General, which has the power to summon executives, record statements and demand internal company documents or mails. From aviation, let’s turn to technology and manufacturing…India’s newly-established semiconductor manufacturing units have begun production of commercial chips, marking a major milestone in the country’s efforts to build a domestic electronics and manufacturing ecosystem, a top government official said on Thursday. Speaking on the sidelines of an event, S Krishnan, Secretary, Ministry of Electronics and Information Technology (MeitY) said that India’s semiconductor programme was moving steadily towards full commitment under its first phase.Next, some big leadership changes in telecom…Bharti Airtel on Thursday said Shashwat Sharma, currently the CEO Designate, is all set to assume charge as Managing Director and CEO of the telco with effect from January 1, 2026. The board of India's second-largest telecom company has also greenlit the appointment of Vice Chairman and MD Gopal Vittal as Executive Vice Chairman from January 1, 2026, for five years, subject to the shareholders' approval. The board cleared the appointment of Chief Financial Officer Soumen Ray as Group Chief Financial Officer and Akhil Garg as Chief Financial Officer (Airtel India), effective January 1, 2026. Finally, a major development in Parliament…The Lok Sabha Speaker on Thursday passed the Viksit Bharat Guarantee for Rozgar and Ajeevika Mission (Gramin) (VB-G RAM G) Bill, 2025 that replaces the 20-year-old Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) amid tearing of the copies of the bill by opposition members.

High operating costs have long posed a challenge for Indian airlines, and the weakness of the rupee has exacerbated the issue. India is a highly competitive and price-sensitive market. Yet Indian airlines and airports continue to invest in growth and adopt new technologies and solutions to improve efficiency. As part of tbusinessline's year-end podcast, Aneesh Phadnis speaks to Sumesh Patel, President for the Asia-Pacific region at SITA, a specialist in air transport communications and information technology, to discuss the outlook for Indian aviation. (Host: Aneesh Phadnis, Producer: Siddharth MC)

Your Thursday morning business and economy update Rural jobs revamp, regulatory scrutiny, and IBC reform momentum. 🎧 On today’s episode: The Centre’s MGNREGA spending may drop by nearly a third under the new Viksit Bharat – Gramin Rozgar and Ajeevika Mission law, SEBI reviews a proposal to make top officials disclose their assets amid privacy concerns, and a parliamentary panel calls for tighter timelines and clearer rules in the IBC overhaul.

In this episode of the BusinessLine Podcast – Year-Ender Series, Amiti Sen is joined by Biswajit Dhar, trade expert and former Professor at Jawaharlal Nehru University, to explore how India has navigated the geopolitically turbulent waters of 2025 and the impact on its international trade. Highlighting India’s approach to strategic autonomy, “India has actually signalled that it is going to look after its own interests, very much in the way that President Trump has signalled to the rest of the world that he is concerned about US interests and little else,” says Professor Dhar. He further stresses the importance of this strategic positioning as countries move away from mutual interdependence. “In today’s world, these kinds of mutual interdependence seem to have gone out of the window... every country will have to look at its own strategic interests, and India has done this,” Dhar adds. The conversation also touches on India’s growing number of Free Trade Agreements (FTAs) and its emphasis on diversifying trade partners, especially with the Global South. He advocates for stronger ties with developing nations, explaining, “Most of these countries have similar interests as ours... in critical areas like intellectual property and other issues such as standards, where the developing countries’ standards are much more aligned with India’s,”. Looking ahead to 2026, Professor Dhar underscores the importance of prioritising partnerships with Africa and Central Asia, where India’s interests are best served. (Host: Amiti Sen; Producer: Siddharth MC)

Your Wednesday morning business and economy update Rupee slides, rural jobs reboot, and record IPL bids. 🎧 On today’s episode: The rupee breaches a historic ₹91 against the dollar as markets tumble on FII outflows, the government introduces the Viksit Bharat Bill to replace MGNREGA sparking a storm in Parliament, and uncapped stars Kartik Sharma and Prashant Veer fetch over ₹14 crore each at the IPL 2026 auction.

Your Tuesday morning business and economy update Trade surge, rural jobs overhaul, and major investment moves. 🎧 On today’s episode: India’s trade deficit narrows sharply on record exports, a new bill proposes replacing MGNREGA with the Viksit Bharat Guarantee, and Mitsubishi UFJ eyes a $3.2 billion stake in Shriram Finance as Japan deepens its push into India.

Your Monday morning markets and industry update IPOs, crude oil, aviation, and food systems 🎧 On today’s episode: The IPO boom faces slowing gains, Russian crude flows rise on discounts, India’s first private trainer aircraft takes shape, and food security is highlighted as a strategic necessity.

1.India among nations hit as Mexico raises import duties up to 50% On December 10, Mexico’s Senate approved tariff hikes of up to 50% next year on imports from China and several other Asian countries, aiming to bolster local industry despite opposition from business groups and affected governments. The proposal, passed earlier by the lower house, will raise or impose new duties of up to 50% from 2026 on certain goods such as autos, auto parts, textiles, clothing, plastics and steel from countries without trade deals with Mexico, including China, India, South Korea, Thailand and Indonesia. The majority of products will see tariffs of up to 35%. The import duty on cars will rise to 50 per cent from 20 per cent, dealing a significant blow to India’s largest vehicle exporters to Mexico including Volkswagen, Hyundai, Nissan and Maruti Suzuki. 2.Microsoft deepens India bet with AI tie-ups and 200,000 Copilot licenses across top IT firms, and CEO Satya Nadella develops his own cricket app  Microsoft Chairman and CEO Satya Nadella has announced partnerships with four Indian IT companies — Cognizant, Infosys, TCS, and Wipro. Each company will deploy over 50,000 Microsoft Copilot licenses, collectively surpassing 200,000 licenses, and setting a new benchmark for enterprise-scale AI adoption. On a side note, Satya Nadella, a die-hard cricket fan, has been spending his free time coding and designing his own app that he used to analyze the centuries-old game. He talked about combining two of his passions when he designed a Deep Research AI app over Thanksgiving. He then used it to select a team of all-time greats in Indian test cricket, for starters. “The system produced consensus areas, debates, reasoning chains, everything. It was fantastic,” Nadella said during a company event in Bangalore. “I wanted to get a job on the Copilot team.” Nadella is meeting business and political leaders in India this week.  3.IndiGo to give travel vouchers worth ₹10,000 to affected passengers  IndiGo on Thursday said it will offer travel vouchers worth ₹10,000 to passengers impacted by flight disruption on December 3-5. These can be used for any future IndiGo flight in 12 months. The travel vouchers will be in addition to compensation payable under government norms. Directorate General of Civil Aviation norms require airlines to pay compensation of ₹,5000-10,000 to passengers whose flights are cancelled within 24 hours of departure time.  The announcement comes a day after Delhi High Court asked why the airline was not paying compensation. The court also questioned the government for its failure to prevent the chaos. 4.Prada to launch ‘Made in India’ Kolhapuri chappals after backlash Prada will make a limited-edition collection of Kolhapuri chappals in India inspired by India’s traditional footwear -Kolhapuri sandals, selling each pair at around  $930(₹84,000), turning a backlash over cultural appropriation into a collaboration with Indian artisans. The Italian luxury group plans to make 2,000 pairs of Kolhapuri chappals in the regions of Maharashtra and Karnataka under a deal with two state-backed cooperative bodies.

Amazon to invest over $35 billion in India till 2030 across its businesses E-commerce major Amazon on Wednesday said it will make fresh investments of over $35 billion across all its businesses in the country till 2030. These investments will focus on business expansion as well as driving digitisation and export growth. It added that it plans to create one million additional job opportunities and deliver AI benefits to 15 million small businesses and Indian consumers. According to Amazon, Since 2010, the company has invested nearly $40 billion in India and has enabled over $20 billion in cumulative e-commerce exports, reports Meenakshi Verma Ambwani. H1B visa interviews of thousands of applicants in India cancelled triggering outrage Pre-scheduled interviews of thousands of H-1B visa applicants slated for later this month in India have been abruptly postponed by several months apparently to scrutinise their social media posts and online profiles. Some of the applicants, whose visa appointments were scheduled next week, have received e-mails from US immigration authorities informing that their interviews are being pushed back as late as May next year. The mass cancellation of scheduled interviews of the H-1B visa applicants in view of the enhanced vetting measures is set to result in significant delays in their return to the US. The rescheduling of the interviews is for all applicants who were previously given appointments from December 15 onwards. Most of them were already in India and are now unable to return to the US pending their new interview dates since they don’t have a valid H1B visa to travel back to the US for their jobs. DGCA summons IndiGo CEO Pieter Elbers to explain mass flight cancellations India’s aviation safety regulator has summoned IndiGo’s Chief Executive Pieter Elbers on Thursday to present facts related to the recent mass cancellation of flights.  The Directorate General of Civil Aviation (DGCA) has directed the airline’s Chief Executive to present comprehensive data and updates relating to the recent operational disruptions. Elbers has been instructed to submit a complete report and appear before the DGCA on December 11, 2025. Sluggish growth in own tax revenue of most large States in FY26 At a time when GST rates have been lowered and states don’t receive GST compensation cess either, the own tax revenue (OTR) of states becomes more significant. businessline analysis of OTR data from CAG shows that the growth of this revenue has been sluggish for some of the top states in FY26. Gujarat’s OTR for April–October 2025 has grown by about 13 per cent over last year. This is the highest increase among the 10 biggest states in India (by GDP). Growth of OTR in some of the larger states such as Tamil Nadu, Uttar Pradesh, Andhra Pradesh and Madhya Pradesh was anaemic, below 5 per cent. Only four of the ten large states have crossed half of their budgeted own tax collections by October 2025, reports Sindhu Hariharan.

Microsoft commits USD 17.5 billion investment in India: CEO Satya Nadella Microsoft plans to invest USD 17.5 billion (around Rs 1.58 lakh crore) in India to help build infrastructure, skills, and sovereign capabilities needed for the country’s AI future, CEO Satya Nadella said on social media platform X. “To support the country’s ambitions, Microsoft is committing USD17.5B—our largest investment ever in Asia—to help build the infrastructure, skills, and sovereign capabilities needed for India’s AI-first future,” Nadella said on X after meeting Prime Minister Narendra Modi. Microsoft, in a statement, said the company plans to invest USD 17.5 billion in India over the next four years (2026-2029) to drive AI diffusion at a population scale. This comes on top of Microsoft’s earlier commitment of USD 3 billion announced in January 2025 Govt cuts IndiGo’s flight schedule by 10 per cent: Civil Aviation Minister K Rammohan Naidu The Civil Aviation Minister has asked for a 10 per cent cut in planned IndiGo flights to help restore order at India’s biggest airline, which cancelled thousands of flights nationwide after failing to plan for tighter safety regulations. Posting a picture of IndiGo CEO Pieter Elbers, sitting with folded hands in front of him, Minister Ram Mohan Naidu, in a post on X, said that the airline management was summoned to the ministry to provide an update. The curtailment is double of what the sector regulator DGCA had ordered on Monday. JioHotstar to invest ₹4,000 crore for South Indian content push Streaming service JioHotstar has announced that it will be investing ₹4,000 crore over the next five years to strengthen South India’s creative economy. Sushant Sreeram, Head – SVOD Business & Chief Marketing Officer at JioStar, said the investment forms part of a broader collaboration with the Tamil Nadu government. He said that “As part of this vision, JioHotstar will invest ₹4,000 crore to nurture creators, strengthen the production ecosystem and build a pipeline of stories that are ready for India and ready for the world,” On December 9, JioHotstar formalised a Letter of Intent with the Government of Tamil Nadu in the presence of the Chief Minister, MK Stalin. SBI to hire around 16,000 people each fiscal, open 200-300 branches in FY26: Chairman India’s largest lender State Bank of India (SBI) will hire 16,000 employees in current financial year and will hire a similar number of employees each fiscal to aid its business expansion plans and beef up its customer service, chairman CS Setty told businessline in an interaction. The bank also intends to fill “white spaces” by opening 200-300 branches this fiscal, he said. The employee hiring and physical network expansion moves are in-line with the lender’s plan to double its business size to ₹200 lakh crore in 6-7 years from ₹100 lakh crore in Q2FY26, report Piyush Shukla and K Ram Kumar.

A Crisis Management Group (CMG) of IndiGo officials, set up on December 4, is meeting daily to monitor the ongoing disruption. A sufficient number of pilots, fewer flights and better preparation helped Air India to implement the new flight duty time norms. According to sources, Air India initiated the process to configure crew rostering software two-three months before the November 1 deadline and rolled out the changes a fortnight before the deadline, writes Aneesh Phadnis. As IndiGo airline flight cancellations continue, Indian Railways is witnessing full occupancy in special trains it has deployed, particularly from metro cities. The Railways are operating 89 special trains across different destinations in the country to ease the plight of commuters impacted by flight cancellations, writes Aroosa Ahmed. According to agency reports, the Directorate General of Civil Aviation-appointed panel investigating the flight disruptions at IndiGo is likely to summon the airline’s CEO Pieter Elbers and Chief Operating Officer Isidre Porqueras on Wednesday as part of the ongoing probe. Union Civil Aviation Minister Ram Mohan Naidu addressed the ongoing IndiGo crisis in Rajya Sabha, saying the issues faced by passengers were linked to the airline’s internal crew rostering and operational planning, and not the Aircraft Maintenance and Scheduling System (AMSS). The Aviation Minister emphasised that “there will be no compromise on safety”. 2. IDBI Bank stake sale expected to bridge part of tax shortfall With the strategic sale of IDBI Bank entering the final phase, the government is expected to factor in proceeds of over ₹32,000 crore in the Union Budget’s math for fiscal year 2025-26. Top Finance Ministry officials said all regulatory clearances are now in place and the strategic disinvestment of IDBI Bank is likely to be completed soon, writes Shishir Sinha. 3. Trump Media to invest ₹1 lakh crore in Hyderabad’s Bharat Future City over 10 years Trump Media has announced an investment of ₹1 lakh crore in Bharat Future City, a new city being built on the outskirts of Hyderabad, according to Jayesh Ranjan, Special Chief Secretary, Government of Telangana. The US firm will invest over the next 10 years. 4.Intel products for local markets to be manufactured at Tata Electronics’ Fab Tata Group and Intel Corporation will explore manufacturing and packaging of Intel products for local markets at Tata Electronics’ upcoming Fab and OSAT (Outsourced Semiconductor Assembly and Test) facilities. The two companies will collaborate for advanced packaging in India and focus on consumer and enterprise hardware enablement and semiconductor and systems manufacturing to support India’s domestic semiconductor ecosystem.

Kick off your Monday with the latest from India’s business and market news! We cover IndiGo’s mass flight cancellations and DGCA scrutiny, HD Hyundai’s $2B shipyard project in Tamil Nadu’s Thoothukudi, and potential accounting irregularities at Kaynes Technology flagged by the Beneish M-Score. Stay updated on Nifty, Sensex, and Bank Nifty rebounds, midcap and smallcap trends, and key stock market movements. Tune in for insights on aviation, manufacturing, finance, and investment opportunities in India.

Welcome to The Morning Report brought to you by Renil S Varghese — your quick dive into the top stories shaping the business world today. Fast, insightful, and to the point. Check out the top news for the day!

In this episode of the Current Account Podcast, host Piyush Shukla talks with Abizer Diwanji , founder at Neostrat Advisors about the RBI’s latest policy changes, including M&A financing, ECL implementation, and banking sector consolidation. They discuss how these moves impact Indian banks, corporate growth, and risk management, providing insights into the future of India’s financial landscape.  Diwanji also talks about the RBI’s proposed ECL norms, corporate governance at banks and consolidation in Indian banking sector.  Diwanji goes on to explain how banks will need to adjust their strategies, build capacity for new financing models, and improve governance to handle larger-scale operations. The conversation highlights the potential for larger, more efficient banks and the role of domestic and foreign capital in shaping India’s economy.  Indian banks are opening up to M&A financing for the first time, recognizing that industry consolidation will create larger corporations, driving significant financing needs, with private equity likely to rely more on onshore funds than offshore, says Abizer Diwanji , founder at Neostrat Advisors. (Host: Piyush Shukla,  producer: Prethicshaa Gurumoorthy)

Welcome to The Morning Report brought to you by Renil S Varghese — your quick dive into the top stories shaping the business world today. Fast, insightful, and to the point. Check out the top news for the day!

Welcome to The Morning Report brought to you by Renil S Varghese — your quick dive into the top stories shaping the business world today. Fast, insightful, and to the point. Check out the top news for the day!

Welcome to The Morning Report brought to you by Renil S Varghese — your quick dive into the top stories shaping the business world today. Fast, insightful, and to the point. Check out the top news for the day!

Your Monday morning markets brief Mid-caps, small-caps, asset allocation & the global AI wave 🎧 On today’s episode: AI drives global market leadership, India’s mid-caps shine with long-term outperformance, rebalancing proves its power in smoothing returns, and small-cap investors reassess valuations and shift towards consistent outperformers.