Finance Minister Nirmala Sitharaman said on Tuesday that the government will repeal the changes made to Section 43B of the Income Tax Act if MSMEs want to continue operating with uncertainty on payment timelines from their buyers.
ICICI Bank's report suggests a possible interest rate cut by the Monetary Policy Committee in December due to external factors and slowing domestic growth. The report notes a shift in the MPC's policy language to a more dovish tone, with external members supporting this possibility.
Indegene, a healthcare tech firm, has acquired BioPharm, a specialized marketing agency, for $106 million. The deal aims to boost Indegene's AI-led pharma marketing portfolio and expand its capabilities for global pharmaceutical companies. BioPharm has a strong client roster, including 17 of the top 25 biopharma companies, and offers expertise in omnichannel strategy and targeted engagement.
Pawan Kalyan's 'They Call Him OG' received a strong opening day with Rs 90 crore, but failed to sustain the momentum on weekends. Despite the intense fan following and stellar performances, the film faced competition from other releases like 'Kantara: Chapter 1' and 'Sunny Sanskari ki Tulsi Kumari'. With a 60% dip on weekdays, the film grossed Rs 7 crore on Day 7.
TV Mohandas Pai accused Nirmala Sitharaman of not stopping tax terrorism and shared the case of Wintrack Inc's closure due to harassment by Chennai Customs. He called for action to protect taxpayers, but CBIC clarified the issue was due to misdeclaration and misclassification. Chennai Customs dismissed the allegations as false and a tactic to pressure officials.
RBI maintains neutral stance, open to accommodative measures as inflation eases and growth projections revised downward. Efforts to boost credit flow and ease regulatory burdens to support economic growth and ensure financial stability. Steps to enhance digital payment security and address concerns around digital locking.
The US will provide Ukraine with intelligence on Russian energy infrastructure targets, and is asking NATO allies to do the same. This is the first known policy change under President Trump's tougher stance on Russia. The US is also considering providing Ukraine with Tomahawk missiles, which could hit Moscow and European Russia.
Tesla CEO Elon Musk has become the first person ever to have a net worth of $500 billion, with his company's stock soaring by nearly 4%. This milestone is attributed to Musk's departure from the Trump administration and his re-alignment with Tesla's well-being.
India's gas market is struggling due to low demand, decreasing domestic production, and costly LNG prices in Asia. JM Financial's report reveals the impact on gas companies, with those tied to Henry Hub prices performing better. Despite this, the future looks promising with new LNG capacity set to launch in 2026.
Lok Sabha Speaker Om Birla has formed a Select Committee on the Jan Vishwas (Amendment Of Provisions) Bill, 2025, with BJP MP Tejasvi Surya as its chairperson. The committee includes 26 members from various political parties. The bill aims to decriminalize minor offences and facilitate ease of doing business.
Trump advisor Corey Lewandowski has confirmed that ICE agents will be present at Bad Bunny's Super Bowl performance, stating that there is no safe haven for illegal immigrants in the US. This statement comes amid controversy surrounding ICE's immigration crackdown and the Puerto Rican singer's concerns about touring in the country.
The India-EFTA TEPA has been implemented, granting Indian exporters and service providers access to a market with a combined GDP of USD 5.4 trillion. The agreement includes a strong IP chapter and is predicted to bring in investments worth USD 100 billion and generate one million jobs in India. India is strengthening its ties with developed nations with confidence and success.
Climate activist Greta Thunberg and others on the Global Sumud Flotilla were detained by Israeli forces at the port of Ashdod. The UN called for Israel to stop threatening the flotilla and let it deliver aid to Gaza. The Israeli Foreign Ministry said the vessels were safely stopped and passengers were being transferred to an Israeli port.
Fitch does not expect the U.S. government shutdown to affect sovereign ratings in the near term, but warns of potential economic impact depending on duration. The shutdown could lead to loss of federal jobs and has already caused flight delays. S&P Global cautions of secondary economic effects and estimates a potential 0.1-0.2% decrease in GDP growth for every week the government is closed.
Trump and Xi will discuss soybeans, a major topic in their upcoming meeting. China's lack of soybean purchases during the trade war has hurt U.S. farmers, who are now turning to South America for supplies. Trump promises to use tariff revenues to aid farmers. No specific timeline for China to resume purchases, but expectations are high for China to buy more U.S. agriculture products.
Gandhi Jayanti, celebrated on October 2nd every year, commemorates the birthday of the Father of the Nation, Mahatma Gandhi. He was born in 1869 in Porbandar, Gujarat and played a crucial role in India's fight for independence through non-violent means. His teachings of truth, love, and non-violence continue to inspire people even today.
Jane Goodall, a renowned scientist and activist, died at 91 after a lifetime of studying primates and advocating for conservation. Her pioneering work in primatology and efforts to engage the public through media have had a lasting impact. She founded the Jane Goodall Institute and continued to raise awareness about climate change until her passing.
Serum Institute of India CEO Adar Poonawalla is interested in purchasing the IPL team Royal Challengers Bangalore, but finds the current valuation of $2 billion too high. Former IPL commissioner Lalit Modi believes this deal could establish a new minimum price for all teams. RCB is currently worth $269 million, making it the most valuable franchise in the league.
Roche Pharma, a Swiss healthcare major, has announced a 1.5 billion Swiss franc investment in India over the next five years. This marks a significant expansion as India becomes a key growth and innovation hub for the company. Other EFTA-based firms have also outlined new investment plans in India, with a total of 19 companies committing to invest in the country under the TEPA framework.
The CBRE South Asia report shows that fashion and apparel brands were the main players in D2C retail leasing in H1 2025, making up 60% of new leases. High streets were the preferred format, with a significant increase in D2C brands' share of retail leasing. Delhi-NCR, Bengaluru, and Hyderabad were the top cities for retail leasing.
Capgemini has announced that Sanjay Chalke will take over as CEO of its India operations from January 1, 2026, succeeding Ashwin Yardi who will retire and become non-executive chairman. Chalke brings over two decades of leadership experience and will join the group executive committee.
Mumbai-based Runwal Developers has filed a Draft Red Herring Prospectus (DRHP) with SEBI for its IPO, aiming to raise Rs 2000 crore. The IPO structure includes a fresh issue of Rs 1,700 crore and an offer for sale (OFS) of Rs 300 crore by promoter Sandeep Subhash Runwal. The company plans to use the proceeds for debt repayment and prepayment.
Sterlite Electric, a subsidiary of Vedanta Group, has submitted a draft prospectus to SEBI for an IPO. The company aims to raise Rs 1400-1500 crore through a mix of fresh issue and equity shares sale. Promoters Anil Agarwal and Twin Star Overseas will also participate. The company is a leader in power transmission and distribution with a strong global presence.
EFTA pushes for Bilateral Investment Treaty with India to secure investments under TEPA, offering $100 billion over 15 years. EFTA's market access covers 92.2% of tariff lines, with full liberalization on non-agricultural goods and concessions on processed agricultural products. India offering concessions on 82.7% of tariff lines, with a focus on gold.
SKF India has completed its industrial business demerger, creating a new independent entity to be listed in November. Shareholders will receive one share of the new entity for every share held. This will unlock value for shareholders and allow SKF India to focus on its automotive operations. The company plans to invest in growth sectors like infrastructure, railways, renewable energy, and others.
Swiggy, a top Indian food delivery company, plans to reach break-even on contribution margin by December-June next year. Its CFO believes the ongoing sale event may impact profitability, but will drive category growth and customer recall. Swiggy's quick commerce arm, Instamart, has experienced a rise in gross and average order value.
The PFRDA has introduced the Multiple Scheme Framework (MSF) for non-government NPS subscribers, allowing fund managers to customize and offer multiple schemes with equity exposure up to 100%. This will cater to different investor preferences and potentially increase enrolment. The finance minister also proposed training women as 'Pension Sakhis' to promote NPS.
NITES, an IT employees union, has written to the Maharashtra CM seeking intervention in illegal mass layoffs at TCS. TCS refutes allegations, stating only a limited number of employees were affected by their realignment. However, NITES claims over 2,500 employees in Pune have been forced to resign or terminated, violating the Industrial Disputes Act and causing financial and emotional distress.
Indian benchmark equity indices ended their eight-session fall on Wednesday, emerging as the second-best performing market in Asia after the Philippines. The Reserve Bank of India's measures, including removing the cap on overlap in bank and group entity businesses, boosting IPO financing limit, and licensing new UCBs, fueled a rally in banking stocks.
The FIU IND has taken action against 25 offshore VDA SPs for non-compliance with the PML Act, 2002. These include well-known companies like Huione, Paxful, and Changelly. Non-registration may result in takedown of their apps/URLs. Currently, only 50 VDA SPs are registered with FIU IND, and unregistered entities catering to Indian users will face consequences. VDA SPs were brought under the AML-CFT
RBI takes steps to promote internationalisation of rupee, plans to introduce reference rates for major trading partner currencies. Deepening forex market with new rates, rupee rises 10 paise. Governor Malhotra monitoring rupee movements, will take appropriate steps. Considering Indonesian rupiah and UAE dirham, more to follow.
LG Electronics India is expanding its manufacturing capacity by setting up a new plant in Andhra Pradesh and expanding existing plants in Noida and Pune. The company aims to make India a global manufacturing hub and cater to both domestic and export markets. With a strong financial position and increasing demand for premium products LG is confident in its ability to tap into more developed market.
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LG Electronics' Indian unit is launching an IPO on October 7-9 to raise up to Rs 11,605 crore through an offer for sale. The company will offer 101.8 million shares at a price range of Rs 1,080-1,140 apiece, making it the top appliance maker listed on Indian bourses with a valuation of Rs 77.2K. No fresh issue component is included in the IPO.
The IBBI is developing new regulations to address practical challenges and incorporate previous Supreme Court rulings in the resolution process. A solution to the clash between IBC and PMLA is expected to be released within a month. The IBC Amendment Bill 2025 is being prepared for Parliament's approval.
Dussehra, a festival symbolizing the victory of good over evil, is being celebrated on October 2 this year. It marks the end of Navratri and is observed with various rituals across India. In North India, Ravana's effigy is burnt, while in the East, goddess Durga's idols are immersed in water. This festival is linked to the epic story of Ramayana and is followed by Diwali.
Passenger vehicle sales in September saw a rise due to GST rate cuts and Navratri, with Maruti Suzuki being the only major manufacturer to decline. Tata Motors regained second spot and Mahindra & Mahindra saw high demand for SUVs. Hyundai slipped to fourth, while Toyota saw a 16% increase. The industry expects a strong festive season and positive outlook for growth.
The Cabinet has approved a six-year plan with a budget of Rs 11,440 crore to boost production of pulses and reduce import dependence. The Mission for Aatmanirbharta in Pulses will be implemented through a cluster-based approach across 416 districts, with a target to increase production to 35 million tonnes by 2030-31.
Bvlgari's iconic Serpenti Infinito exhibition has arrived in India, showcasing at the Nita Mukesh Ambani Cultural Centre in Mumbai. The exhibition, which coincides with the Year of the Snake, features works by 23 acclaimed Indian and international artists, including a large-scale AI-powered installation by renowned artist Refik Anadol.
Shah Rukh Khan, the popular Bollywood actor, has become a billionaire for the first time with a net worth of Rs 12,490 crore. This is a 71% increase from last year, thanks to the success of his production house and IPL team. He also owns lavish properties in India and Dubai, including his famous bungalow Mannat.
Tesla's debut in India has been modest but steady, with 60 units of its Model Y sold in September. This is in line with other luxury carmakers in India, outpacing new entrants and competing with established European players. However, challenges like high prices and lack of local manufacturing could hinder its growth.
Government announces 4-10% hike in MSP for winter-sown crops, with wheat seeing a 6.6% increase for the 2026-27 season. The target for wheat production has been set at 119 MT for the 2025-26 crop year, and the MSP for gram has been increased by 4%. However, pulse growers face challenges from cheap imports. The highest increase of over 10% has been approved for safflower seed.
The MPC has maintained the policy rate, but is considering future rate cuts. The RBI Governor believes there is room for growth support and has revised the inflation and growth targets. Analysts predict more cuts may be needed, considering trade deals and fiscal measures. The stock market reacted positively, with the Sensex rising.
PE-VC firms invested $5.67 billion in Indian companies in the July-September quarter, a 26% decline from last year. The number of deals also decreased to 299. However, compared to the previous quarter, deal value increased by 6%, while volume rose by 15%. The drop in deal value is due to fewer mega deals, with only 15 deals above $100 million.
In September, the gross GST collections reached Rs 1.89 lakh crore, a 9.1% increase from the previous year. However, the net receipts grew at a slower pace of 5% due to a 40% rise in refunds. This is the ninth consecutive month with revenues above Rs 1.8 lakh crore. The GST rate cut and festive demand are expected to maintain a positive trajectory for future collections.
India's new project value declined by 46% in September quarter, with private sector leading in announcements and government investments limited due to fiscal constraints. However, completed projects show potential for increased activity. Weak investments attributed to global and urban demand uncertainties, according to economists.
The CEA plans to outsource geological investigations for hydro power projects in order to accelerate approval and meet energy transition targets. External experts will evaluate geological reports, reducing evaluation time and expediting project approval. India has a potential of 133.4 GW for large hydro development, with 50.1 GW installed and 13.2 GW under construction.
IMDb, is the go-to source for film, celebrity, and TV content. They released a report on the evolution of Indian cinema from 2000-2025, based on data from over 250 million monthly users. Deepika Padukone emerged as the most viewed Indian star of the last decade, challenging the status quo in a primarily male-dominated industry.
The government has raised the minimum support price (MSP) for wheat to Rs 2,585 per quintal for the 2026-27 marketing year, along with increased MSP for other rabi crops. This move is expected to incentivize farmers and promote crop diversification, with a record wheat production target of 119 million tonnes.
M3M and Hurun India have released the M3M Hurun India Rich List 2025, their 14th edition, featuring the richest Indians across the world. This year, 1,687 individuals across 91 cities made it to the list with wealth above ₹1,000 crore.
The M3M Hurun India Rich List 2025 was released, with Mukesh Ambani and family at the top with a wealth of Rs 9.5 lakh crore. Thirteen new billionaires, including Roshni Nadar Malhotra from HCL, joined the list. Women-driven wealth and the number of billionaires in the capital city also saw a significant increase.
ICICI Securities has upgraded Kalyan Jewellers to 'Buy' from 'Add' with a target price of Rs 670, citing steady demand trends and accelerating store rollout. The brokerage believes that Kalyan Jewellers may continue to outperform peers due to its aggressive store expansion, omnichannel format, and improving balance sheet health.