The Department for Promotion of Industry and Internal Trade (DPIIT) recently signed a Memorandum of Understanding (MoU) with electric vehicle (EV) maker Ather Energy. This partnership aims to create new opportunities for startups in the EV and manufacturing sectors. The collaboration will focus on providing strategic mentorship and infrastructure support for deep-tech startups within the EV value chain. Joint Secretary Sanjiv Singh from DPIIT stated that this initiative seeks to foster an environment where startups can contribute significantly to EV manufacturing, battery innovation, and clean energy solutions, aligning with India's push for sustainable mobility and domestic production.Read more

India saved over INR 4 lakh crore (approximately USD 46 billion) in fossil fuel and pollution-related costs in 2024, thanks to its growing renewable energy capacity. A report by the International Renewable Energy Agency (IRENA) highlights that these savings came from avoiding USD 14.9 billion in fossil fuel expenses and preventing 410.9 million tonnes of CO2 emissions, alongside realizing USD 31.7 billion in air pollution benefits. India's renewable energy, especially solar PV, is noted as the second cheapest globally after China, with costs consistently falling due to efficiency and innovation, positioning the country as a leader in cost-effective green energy.Read more

Empower Finance Inc., a U.S.-based fintech firm, has acquired Indian digital lending platform NIRA, aiming to scale its impact in emerging markets. The move strengthens Empower's foothold in India by leveraging NIRA's local expertise and customer base, especially in underserved Tier 3 cities and rural areas. NIRA, founded in 2018, has disbursed over INR 1,600 crore (approximately USD 200 million) in personal loans and turned profitable in 2023. Empower's global operations already span the U.S., Mexico, and the Philippines, serving over 5 million users. The acquisition will help both firms accelerate innovation and expand financial access to India's working-class population.Read more

Senior IAS officer Sanjay Kaul has assumed charge as the Managing Director and Group CEO of Gujarat International Finance Tec-City (GIFT City), India's first operational smart city and International Financial Services Centre (IFSC). Kaul, a 2001-batch officer, succeeded Tapan Ray, who had been leading the institution since 2019. Kaul brings over 20 years of experience across public policy, infrastructure, and finance. His academic background includes degrees in electronics engineering and public policy from prestigious Indian and US institutions.Read more

Ajay Seth, the former Finance and Economic Affairs Secretary, has been appointed as the new chairman of the Insurance Regulatory and Development Authority of India (IRDAI) for a term of three years. His appointment fills the vacancy left after Debasish Panda's term ended about four months ago. Seth, a 1987-batch IAS officer from the Karnataka cadre, recently retired in June after serving four years in the Finance Ministry. The decision was made following due procedure by the Financial Sector Regulatory Appointments Search Committee and received final clearance from the Appointments Committee of the Cabinet.Read more

JSW Paints is set to acquire a 74.76% stake in Akzo Nobel India for INR 12,915 crore via a share purchase agreement with Akzo Nobel N.V., which will retain its powder coatings and R&D operations in India. JSW has also initiated an open offer to buy the remaining 25.24% from public shareholders, aiming for full ownership pending CCI approval. Akzo Nobel India, known for Dulux and Sikkens, boasts strong market presence and brand equity. JSW Paints, launched in 2019, has been expanding rapidly with two manufacturing units and a consumer-first approach. Meanwhile, Asian Paints exited its 4.42% stake, valued at INR 734 crore.Read more

At a recent United Nations forum, NITI Aayog Vice Chairman Suman Bery highlighted India's growing influence as a reliable pillar of global stability. Addressing world leaders, he emphasized India's sustained economic momentum, poverty alleviation achievements, and its scalable development model, especially relevant for fellow nations in the Global South. With digital inclusion, policy reforms, and youth empowerment at the core of its progress, India continues to demonstrate how inclusive growth can be both effective and exportable to the wider world.Read more

A parliamentary committee reviewing the Income-Tax Bill, 2025 has proposed over 550 changes to improve clarity, reduce taxpayer burden, and resolve legal ambiguities. One of its key recommendations includes allowing small taxpayers to claim refunds even if returns are filed after the due date provided their income is below the taxable limit. The committee also called for improved tax provisions for property owners and clearer rules for non-profits, small businesses, and provident fund withdrawals. These recommendations aim to align the bill with existing laws and address loopholes before implementation.Read more

Connect India has merged with Faarms' logistics arm to form Bharat Supply, a new logistics company dedicated to non-metro and rural India. Backed by Aavishkaar Capital and other global investors, Bharat Supply operates across 230 districts and over 200,000 villages, employing 5,000 people. It offers end-to-end logistics solutions, including last-mile delivery, pick-ups, warehousing, and transport, serving MSMEs, agri-businesses, and e-commerce clients. Currently active in 17 states and union territories, the company aims for 24-hour delivery across challenging regions. Led by Faarms founders Taranbir Singh and Alok Duggal, Bharat Supply combines technology and deep rural reach to foster inclusive growth and scale impact.Read more

Union Commerce and Industry Minister Shri Piyush Goyal held a detailed interaction with deeptech startups to understand their evolving needs and challenges. The discussions focused on enhancing access to funding, strengthening infrastructure support, easing regulatory bottlenecks, and enabling international market reach. Held during the 10th National Startup Advisory Council (NSAC) meeting, the session emphasized innovation-led growth and collaboration to build a future-ready ecosystem. Goyal reiterated the government's commitment to supporting entrepreneurs, especially from smaller cities, as part of the broader Viksit Bharat 2047 vision, with special attention to emerging technologies and deeptech ventures.Read more