Category Archives: Business

Cabinet Approves ECLGS 5.0, INR 2.55 Lakh Crore Credit Support for Businesses

New Delhi, May 6 (BNP): The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the fifth version of the Emergency Credit Line Guarantee Scheme (ECLGS 5.0) to support businesses facing liquidity stress due to ongoing disruptions linked to the West Asia situation.

The scheme aims to facilitate an additional credit flow of around ₹2.55 lakh crore, with special support of ₹5,000 crore allocated for the aviation sector. It will provide government-backed guarantees through the National Credit Guarantee Trustee Company Limited to reduce lending risk and encourage credit expansion.

Under the revised framework, micro, small and medium enterprises (MSMEs) will receive 100% guarantee coverage on additional credit, while non-MSMEs and airlines will be covered up to 90%. Eligible borrowers include entities with standard loan accounts as of March 31, 2026.

The scheme allows additional working capital support of up to 20% of peak utilization during Q4 of FY 2025–26, capped at ₹100 crore per borrower. For airlines, funding support can go up to 100% of requirements, subject to defined limits.

Loan tenures have been set at five years for MSMEs and non-MSMEs, and seven years for airlines, including moratorium periods. The guarantee coverage will remain valid throughout the loan duration.

The government stated that ECLGS 5.0 is designed to ensure business continuity, safeguard employment, and stabilize supply chains, particularly for MSMEs and the aviation sector, while helping the economy navigate external global shocks.

The scheme builds on earlier ECLGS versions introduced to mitigate economic disruptions and strengthen the resilience of India’s business ecosystem.

ADB Plans Dollar 70 Billion Boost for Asia-Pacific Energy and Digital Links

Cement Sector Faces Near Term Pressure Amid Weak Demand Outlook

New Delhi, May 6 (BNP): The cement industry is expected to face a subdued demand environment in the near term, with rising cost pressures likely to impact profitability over the next one to two quarters, according to a recent industry report.

The report indicates that slower construction activity and uneven infrastructure spending could weigh on overall cement consumption. At the same time, elevated input costs, including fuel and logistics, are expected to further strain margins for producers.

Economic Impact:

• Infrastructure slowdown risk: Weak cement demand may signal slower momentum in construction and infrastructure projects.
• Margin pressure on companies: Higher costs could reduce profitability for cement manufacturers.
• Investment sentiment impact: Short-term uncertainty may affect investor confidence in the sector.
• Broader growth linkage: Since cement is a key indicator of industrial activity, softness in demand may reflect temporary moderation in economic expansion.

Despite these challenges, analysts suggest that long-term demand remains supported by government infrastructure initiatives, housing development, and urbanization trends.

Overall, the sector is likely to experience short-term headwinds, while maintaining a stable long-term growth outlook driven by structural demand factors.

India’s Automobile Sector Outlook Remains Positive for FY27 Despite Global Challenges

New Delhi, May 6 (BNP): India’s automobile industry is expected to maintain a positive growth outlook for FY27, even amid ongoing global economic uncertainties, according to a recent industry report.

The report highlights that strong domestic demand, improving supply chains, and continued policy support are likely to drive the sector’s performance in the coming years. Despite external pressures such as geopolitical tensions and fluctuating global markets, the industry is projected to remain resilient.

Analysts note that the sector’s long-term growth will be supported by rising consumer demand, increasing adoption of electric vehicles, and steady infrastructure development across the country.

Overall, the outlook suggests that India’s automobile sector is well-positioned to navigate global headwinds while sustaining its growth momentum into FY27.

Celebrate National Technology Day with Sony Innovations That Elevate Everyday Experiences

Technology is no longer defined only by specifications or features, but by how effortlessly it fits into our routines and enhances the moments that matter, whether it is listening to music, creating content, or enjoying time at home. On National Technology Day, it feels especially relevant to look at devices that go beyond functionality and offer a thoughtful mix of innovation, design, and usability.

Here are some Sony picks that reflect this approach to everyday technology:

Sony WH-1000XM6: When it comes to personal audio, consistency and comfort matter just as much as sound quality. The Sony WH-1000XM6 brings together both these, with a refined listening experience that adapts to your environment.

Powered by Sony’s advanced QN3 processor, these headphones offer highly effective noise cancellation, making them ideal for everything from travel to focused work sessions. With up to 30 hours of battery life and adaptive sound controls, they are designed to keep up with your day without interruptions.

Available in a range of colours including Sand Pink, Blue, Black, and Platinum Silver, they also offer a style that can match different preferences while maintaining a premium, understated look.

Sony ULT Tower 9: If you enjoy hosting or simply love powerful audio, the Sony ULT Tower 9 delivers an experience that fills the room and beyond. 
Designed with 360-degree party sound and dynamic lighting, it brings an energetic vibe to any gathering. The dedicated ULT button enhances bass output while maintaining clarity, making it suitable for a wide range of music genres.

With thoughtful additions, its built in handles and castors make it easier to move around, providing the perfect choice for large spaces and celebrations.

 Sony LinkBuds Fit: Audio devices today are expected to deliver more than just strong performance, with an increasing focus on comfort and wearability, and the Sony LinkBuds Fit brings this together through a thoughtfully designed lightweight build that is made for all day use.

With a secure yet breathable fit that stays in place even through long hours of use, they are well suited for everything from daily commutes to work calls and casual listening, while intelligent noise cancellation continuously adapts to your surroundings. 

Available in versatile colour options including Black, Pink, Green, and White, they make a practical choice for users who are constantly on the move but still want their devices to reflect their preferences.

 Sony ILCE-7V: Designed for high performance photography and videography, the Sony ILCE-7V brings the best of imaging technology for professionals and serious hobbyists.

Offering advanced sensor technology and processing capabilities that deliver sharp detail and accurate colours, the Sony ILCE-7V is backed by responsive autofocus system and versatile shooting features.

Whether you are shooting stills or video, it is built to support creators looking for both reliability and flexibility, making it suitable for a wide range of creative needs.

Sony BRAVIA 3: Television technology has seen a significant shift towards smarter and more immersive experiences from the comfort of your home. The Sony BRAVIA 3 reflects this shift with the perfect balance of picture quality and intuitive features. It is designed for those who want dependable performance without overcomplicating the experience. 

With enhanced visual clarity and vibrant colour reproduction, it elevates everyday viewing, whether you are watching films, sports, or streaming content. Its smart interface ensures easy navigation across apps and content, making it a seamless addition to modern homes. 

 Sony C710N: For those who want a device that fits easily into their daily routine without overcomplicating things, the Sony C710N delivers a reliable and fuss free audio experience.

With effective noise cancellation and a comfortable fit, it adapts well to different moments in the day, whether you are navigating a busy commute, taking calls on the go, or simply unwinding with your favourite playlists. 

Available in colours like Pink, Blue, White, and Black, allowing users the flexibility to choose a look that suits their preferences while keeping the experience simple and intuitive.

With these thoughtfully designed Sony gadgets, you can elevate how you listen, create, and unwind, bringing a sense of ease and refinement to your daily routine. Whether it is work, entertainment, or everything in between, these Sony picks help make every moment feel a little more seamless and engaging.

India–New Zealand Deal May Unlock Dollar 20B Investment

New Delhi/Wellington, May 6 (BNP): A new “single desk” investment facilitation initiative between India and New Zealand is projected to unlock nearly $20 billion in investments over the coming years, according to New Zealand Investment Minister Todd McClay.

The initiative aims to streamline investment procedures through a unified platform, making cross-border business operations simpler, faster, and more transparent. Officials say this mechanism is expected to strengthen economic cooperation and support ongoing discussions toward a potential Free Trade Agreement (FTA) between the two countries.

By improving ease of doing business, the framework is likely to attract greater private investment, enhance trade flows, and open new opportunities in sectors such as agriculture, technology, renewable energy, and education.

Authorities from both sides believe the move will deepen bilateral economic engagement and act as a catalyst for future trade and investment agreements.

Indian Markets Rally on Global Cues; Sensex Surges, Nifty Crosses 24,000

Mumbai, May 6 (BNP): Indian stock markets opened on a strong note on Wednesday, supported by positive global sentiment and a decline in crude oil prices. Improved investor confidence followed signals of progress in geopolitical discussions involving Donald Trump and Iran, easing concerns over global tensions.

The benchmark BSE Sensex advanced by over 650 points in early trade, reaching 77,675.01. Similarly, the NSE Nifty 50 gained more than 200 points to 24,250.85, moving past the 24,000 mark.

The upward movement was further supported by firm global market trends, contributing to broad-based buying across sectors. Analysts note that easing crude prices and improving international outlook continue to influence domestic equities.

Further market developments are being closely monitored by investors.

Swiggy Onboards MoEngage’s AI-Native Platform

Bengaluru, India  May 06: MoEngage, India’s #1 AI-native Customer Engagement Platform, today announced a strategic partnership with Swiggy, India’s pioneering on-demand convenience platform. Through this collaboration, MoEngage will empower Swiggy to enhance customer experiences through relevant engagement based on user preferences.

With a trusted brand serving millions of users across the board, Swiggy selected MoEngage to further strengthen its customer engagement capabilities at scale. The platform’s enterprise-grade capabilities will help Swiggy automate customer journeys.

The partnership has already delivered a measurable impact. By leveraging MoEngage’s automation capabilities, Swiggy’s marketing team has significantly reduced manual effort, thus allowing them to focus on strategy and creative innovation rather than operational overhead.

“At Swiggy, our ambition is to make every customer interaction feel relevant, timely, and valuable,” said Niranjan Sane, AVP – Growth at Swiggy. “MoEngage gives us the scale, reliability, and AI-driven intelligence to do exactly that. The platform’s capabilities have enabled us to engage more effectively, while maintaining a robust security framework.”

Along with omnichannel capabilities, Swiggy is also leveraging MoEngage’s Merlin AI Agents to enhance customer engagement across its platform. The Content AI Agents enable Swiggy to create push notifications and in-app messages.

“Swiggy represents the future of customer engagement, a brand that understands that relevance at scale requires intelligence, not just volume,” said Raviteja Dodda, CEO & Co-Founder of MoEngage. “We’re proud to partner with brands that are embracing AI-native platforms to transform how they connect with customers.”

Looking ahead, Swiggy plans to explore MoEngage’s Merlin AI Decisioning. This feature of Merlin AI is designed to help brands optimize their engagement strategies and improve campaign effectiveness.

Soulful Summer Stories at Pondicherry & Mamallapuram Resorts

The Royal Government of Bhutan and the World Bank Sign Financing Agreements for the Dorjilung Hydroelectric Power Project

Bangalore, May 06: The Royal Government of Bhutan and the World Bank today signed financing agreements totaling $515 million for the 1,125 MW Dorjilung Hydroelectric Power Project, which will account for about one-third of the Kingdom’s total energy generation, drive economic growth through access to affordable electricity and clean energy exports, and create new jobs. 

“The Dorjilung Hydroelectric Power Project is a cornerstone of Bhutan’s 13^th Five-Year Plan and will be the Kingdom’s largest hydropower project developed under a public-private partnership. This transformational investment will supply clean energy, spur economic growth, and advance our carbon-negative commitment,” said Dasho Tshering Tobgay, Prime Minister of Bhutan. “This project is a testament to our strong partnership with the World Bank Group and our shared vision for a sustainable and prosperous future for Bhutan’s people.”

The project, located on the Kurichhu River in eastern Bhutan, will generate over 4,500 GWh of clean electricity annually, closing Bhutan‘s seasonal energy gap during the winter months and providing surplus power for export to India in the summer and rainy seasons. 

The hydropower plant is expected to increase Bhutan’s GDP by 2.4%. It will generate economy-wide benefits, create direct and indirect jobs as well as entrepreneurial opportunities for Bhutan. It will boost manufacturing, tourism, and small businesses by supplying reliable and affordable electricity, with the revenues from energy exports available for reinvestment in essential services such as health, education, and infrastructure. It will also have an important regional impact by displacing 3.3 million tons of CO₂ annually and facilitating clean energy trade.

 “The Dorjilung Hydroelectric Power Project is unique for Bhutan and the World Bank Group. The innovative financing model, which brings together public and private capital, sets a new standard for sustainable infrastructure development,” said Johannes Zutt, World Bank Vice President for the South Asia Region. “The benefits will be far‑reaching for Bhutan and South Asia. Bhutan will be able to reduce costly energy imports and earn revenues from energy exports, while South Asia will reduce carbon emissions and diversify its energy sources.” 

“The Dorjilung Hydroelectric Power Project is a national priority and will be transformational for Bhutan—delivering clean electricity, spurring economic growth and advancing our carbon‑negative commitment,” said H.E. Lyonpo Lekey Dorji, Finance Minister of Bhutan. “Its innovative financing structure ensures that this project does not unduly burden public finances, allowing us to continue investing in our people.” 

“This project marks a transformative shift in Bhutan’s energy sector and opens the door for scaling this financing model across the hydropower sector,” said Dasho Chhewang Rinzin, Managing Director of the Druk Green Power Corporation. “It is designed to provide critical grid flexibility, allowing us to manage seasonal shortfalls while maximizing export revenues. We are deeply committed to the project’s rigorous environmental standards and maintaining Bhutan’s standing as a carbon-negative country.” 

Earlier this year, the World Bank Group’s Board of Executive Directors approved $300 million in concessional financing from the International Development Association (IDA), of which $150 million is a grant; $215 million in financing from the International Bank for Reconstruction and Development (IBRD); and up to $300 million from the International Finance Corporation (IFC) to Dorjilung Hydro Power Limited (DHPL), which is a Special Purpose Vehicle entity jointly owned by Bhutan’s Druk Green Power Corporation (60 percent) and Tata Power (40 percent), India’s largest private integrated power company. The Project will boost clean energy cooperation between India and Bhutan and strengthen regional energy security. 

Dr Praveer Sinha, CEO&MD Tata Power said, “We thank the Royal Government of Bhutan, the World Bank Group, and Druk Green Power Corporation for their partnership in advancing the 1,125 MW Dorjilung project. The signing of $515 million in financing agreements marks a momentous milestone for a project that will contribute nearly one-third of Bhutan’s electricity generation. This landmark project will strengthen regional energy security and deepen India–Bhutan clean energy cooperation. With nearly 80% of its 4,500 GWh annual generation supplied to India, it will help meet rising peak demand especially in summer while enabling Bhutan to expand clean energy exports for shared economic benefit.” 

The estimated $1.7 billion project is structured as an innovative public-private partnership to minimize sovereign borrowing. The financing is expected to catalyze an additional $900 million in private sector financing. This unique financing structure enables Bhutan, with only $150 million direct credit exposure, to cover the $1.7 billion project cost and cumulatively earn about $4 billion of revenues through taxes, free power, and equity dividends over the 30-year IDA credit period. 

Today, Dasho Leki Wangmo, Finance Secretary, Royal Government of Bhutan and Jean Pesme, World Bank Division Director for Bangladesh and Bhutan signed the $300 million IDA financing and $215 million IBRD financing on behalf of Bhutan and the World Bank, respectively.  

“Amid global fuel supply disruptions, the Dorjilung Hydroelectric Power Project represents a model for building energy security that is clean, sustainable and resilient,” said Xavier Furtado, the World Bank Group’s Country Manager for Bhutan. “The World Bank Group brought together IDA, IBRD, and IFC to deliver an innovative financing package that enables a project of this scale while protecting Bhutan’s debt sustainability.”