India has launched a foreign currency settlement system at GIFT IFSC, enabling real-time transactions and improved liquidity management, reducing previous settlement delays of 36-48 hours. Finance Minister Nirmala Sitharaman highlighted GIFT City joining global financial hubs with local settlement capabilities and praised fintech for democratizing finance in India. She noted India ranks third globally in fintech and stressed the government's role in enabling innovation. The minister also addressed the potential misuse of AI, while highlighting savings of INR 4.31 lakh crore through Direct Benefit Transfers.Read more

India's smaller cities are now the main drivers of hiring growth, with tier II and III locations recording a 21% year-on-year increase in September, outpacing metro centers. Cities like Jaipur, Lucknow, Coimbatore, Indore, Bhubaneswar, Kochi, Surat, Nagpur, and Chandigarh saw strong demand in e-commerce, retail, customer support, and festive tourism. Overall hiring rose 17% year-on-year. Metro hubs including Delhi NCR, Mumbai, Bangalore, and Hyderabad grew 14%, led by IT, BFSI, and media sectors. Sales, marketing, and creative roles showed the highest festive-season gains, reflecting both seasonal and structural growth.Read more

India may cancel 3-4 gigawatts of solar projects after the renewable energy ministry directed clean energy agencies to withdraw and reissue tenders that were rushed to bypass upcoming import restrictions. From June 2026, government solar projects must use locally made modules and cells, but tenders submitted before August 31 were temporarily allowed to use imports. Industry groups alleged that agencies exploited this exemption by offering bid windows as short as seven days to secure cheaper Chinese cells. The ministry confirmed misuse and asked agencies to act within 15 days. India expects to become largely self-sufficient in solar cell production by March 2027.Read more

The IMF highlighted a mixed global inflation outlook, noting that while U.S. companies and others in tariff-imposing nations have absorbed much of the cost, inflation pressures vary widely across regions. Spokesperson Julie Kozack said core inflation in the U.S. is edging up due to partial tariff pass-through, while headline inflation is rising faster in Britain, Australia, and India. In contrast, China and other Asian exporters face muted inflation amid weaker demand for their goods. Kozack added that the U.S. Fed's recent rate cut was appropriate given a softer labor market, but risks remain. She also cautioned that the impact of the ongoing U.S. government shutdown depends on its duration and scope.Read more

Tata Motors has invested an additional INR 120 crore in Freight Commerce Solutions, bringing its total investment to INR 270 crore. The investment includes INR 120 crore through Series C Compulsorily Convertible Preference Shares and INR 14 crore for acquiring equity shares. Tata Motors is expected to hold a 42% to 46% stake in Freight Tiger. The company aims to transform logistics through artificial intelligence, enhancing India's logistics infrastructure. Additionally, Tata Motors has incorporated a wholly-owned subsidiary in the Netherlands to manage global business interests.Read more

Six Indian companies have approached SEBI with IPO filings, including Sterlite Electric, Rays Power Infra, Augmont Enterprises, Rotomag Enertec, Oswal Cables, and Pride Hotels. Each IPO involves a mix of fresh equity shares and an offer for sale, with funds earmarked for debt repayment, capital expenditure, working capital, and general corporate purposes. Key projects include Rays Power Infra's solar cell plant, Sterlite Electric's expansion plans, and Augmont Enterprises' inventory management. These filings indicate a strong IPO pipeline, complementing the 77 main-board IPOs launched so far this year.Read more

A steel arch collapsed at the Ennore Thermal Power Plant construction site in Tamil Nadu, killing nine migrant workers from Assam and injuring several others. The injured were rushed to Stanley Government Hospital, with some in critical condition. Authorities have launched a thorough investigation to determine the cause of the accident. Prime Minister Shri Narendra Modi and Tamil Nadu Chief Minister M. K. Stalin announced ex gratia payments for the victims' families. Assam Chief Minister Himanta Biswa Sarma is coordinating the return of the deceased workers' mortal remains.Read more

Nippon Steel has acquired a 30% stake in the Kami iron ore project in Newfoundland and Labrador, Canada, through its subsidiary NS Canadian Resources. The investment, valued at CAD 150 million, was made alongside Australia's Champion Iron and Japan's Sojitz. An initial CAD 42 million (USD 30.2 million) has already been paid, with the remaining CAD 108 million to be released once a feasibility decision is finalized. The new venture, called Kami Iron Mine Partnership, will oversee feasibility work on developing the high-grade iron ore project, which is designed to support direct reduced iron production for low-carbon steelmaking.Read more

The government is examining whether e-commerce platforms are properly reflecting the revised GST rates in their pricing of everyday items. Consumer complaints have highlighted that many products have not seen price reductions consistent with the new tax slabs. Some platforms have been informally cautioned by officials, while explanations citing technical issues have also been received. The GST system now has two slabs, 5 per cent and 18 per cent, replacing four earlier rates. Authorities have directed GST field officers to provide monthly brand-wise reports on the prices of 54 commonly used items, including FMCG goods and household essentials.Read more

UST has made a strategic investment in Kaynes Semicon, aiming to jointly develop a state-of-the-art Outsourced Semiconductor Assembly and Test (OSAT) facility in Sanand, Gujarat. This collaboration supports India's "Make in India" initiative and seeks to enhance the country's semiconductor manufacturing capabilities. The project, valued at approximately INR 3,330 crore, combines UST's global reach and digital engineering expertise with Kaynes' local manufacturing strengths, positioning India as a competitive player in the global semiconductor market.Read more