Category Archives: Business

Indore SEZ Exports Rise 10.5 pc to Cross INR 14,000 Crore in FY26

New Delhi, Apr 13 (BNP): Indore’s Special Economic Zone (SEZ) recorded a steady growth in exports, with shipments rising by around 10.5% to reach ₹14,302 crore in the financial year 2025–26, despite global economic uncertainties.

Officials from the Union Ministry of Commerce and Industry said the growth was supported by strong order pipelines from overseas buyers. They noted that even amid disruptions caused by shifting US tariff policies and geopolitical tensions in West Asia, export momentum remained largely resilient.

The performance highlights the continued strength of export-oriented industries operating out of the Indore SEZ, which have maintained consistent demand in international markets.

Sensex Drops Over 700 Points Amid Global Uncertainty

New Delhi, Apr 13 (BNP): Indian equity markets ended lower on Monday, with benchmark indices slipping nearly 1% amid rising global tensions and concerns over crude oil prices.

The decline came after reports of stalled US-Iran negotiations, which heightened fears of a prolonged geopolitical conflict and its potential impact on global energy markets.

The BSE Sensex dropped 702.68 points, or 0.91%, to close at 76,847.57. During intraday trade, it fell as much as 1,681.93 points, or 2.16%, to touch 75,868.32.

Similarly, the NSE Nifty declined 207.95 points, or 0.86%, to settle at 23,842.65.

Market analysts said rising uncertainty in global crude oil prices added pressure on investor sentiment, leading to broad-based selling across sectors.

EU Sustainability Governance: A Solid Foundation for the Rapid Expansion of the Hydrogen Sector

The wars in Ukraine and the Middle East once again highlight the importance of an energy supply free from fossil fuels. Renewable hydrogen is a key component in finding a way out of this dependency and achieving climate targets, including for energy-intensive sectors. A new policy paper from the Research Institute for Sustainability (RIFS) brings good news in this regard: in the EU, as in other countries, there are already governance frameworks in place that can be built upon – and which promote a rapid yet sustainable ramp-up of the global hydrogen economy. Join the online event about this topic and publications on the 15th of April 2026, 10:00 to 11:00 AM (CEST). 

Green hydrogen has great potential to replace fossil fuels in energy-intensive industries such as the steel and chemical sectors. However, the roll-out of the hydrogen economy must happen quickly, as the climate crisis demands urgent action. At the same time, hydrogen offers opportunities for value creation, particularly in countries with abundant renewable energy resources. 

However, hydrogen production also carries environmental and social risks: for example, expanding hydrogen production capacity could exacerbate existing water shortages. This is because more than 60 per cent of the global onshore production potential of renewable hydrogen is located in regions facing water scarcity. 

The recently published policy paper “Strengthening Sustainability Governance for a Rapid Hydrogen Ramp-Up” by Rainer Quitzow and Maximilian Rischer builds on an assessment of sustainability governance mechanisms in the hydrogen sector across various countries. The conclusion: “The rules and mechanisms do not need to be completely reinvented,” says researcher Maximilian Rischer – “as frameworks for environmental and social considerations already exist in other areas, such as development banks, which need to be adapted to the hydrogen sector.” 

Sustainability governance (see figure) also helps to ensure transparency and fair competition by ensuring that all economic actors adhere to the same standards and safeguards.

Finally, this policy paper proposes four measures at international and EU level that not only make governance structures more effective in supporting sustainability goals, but also strengthen capacities along the value chain. 

1.  Recommendation: Develop guidelines for hydrogen to implement sustainability-related due diligence 

Guidelines for hydrogen to implement sustainability-related due diligence can help companies gain access to finance whilst strengthening efforts to mitigate environmental and social risks. A joint initiative by the major multilateral development banks and key private financial institutions to develop such guidelines for the hydrogen sector could help establish a global benchmark for this purpose.

2. Recommendation: ISO standard for hydrogen sustainability

In addition to the development of sector-specific guidelines, the introduction of an ISO standard for assessing sustainability in the hydrogen sector could further support the harmonisation and alignment of approaches over time. It also provides certainty for project developers in times of potential regulatory changes. In Germany, a draft sustainability standard for hydrogen has already been developed by the national standards institute DIN, which could be adopted at the international level. 

3. Recommendation: Promote best practices in sustainability, capacity building and knowledge sharing

The promotion of best practices in the field of sustainable hydrogen production, combined with capacity building and knowledge sharing, can strengthen the ability of project developers to develop credible and cost-effective approaches to meeting sustainability criteria and due diligence obligations. Stakeholders such as the International PtX Hub are already playing an important role in this regard.

4. Recommendation: Ensuring a level playing field through robust certification systems

Ensure a level playing field for all economic operators by having the European Commission implement the established monitoring and reporting obligations.

Study defining sustainability governance

In their study “Governance for a Sustainable Hydrogen Economy. A Review of the Current State of Play”, published concurrently and forming the basis for this policy paper, the authors examine approaches from various regions in detail. For the first time, the two authors define what sustainability governance entails – a definition that is not limited to the hydrogen economy but can also be applied to other sectors.

Firstly, it encompasses government strategies, rules and regulations designed to ensure sustainability in the hydrogen sector. These include direct requirements for actors in the hydrogen value chain, as well as regulations aimed at creating transparency regarding specific economic activities.

Furthermore, there are sustainability-related rules and framework conditions that apply to the financing of hydrogen-related facilities. This may concern government support programmes as well as financing by public and private financial institutions.

Standards and certification systems serve as the basis for defining and verifying sustainability requirements or claims. These are intended to be core elements of a developing, sustainability-oriented quality infrastructure in the hydrogen sector.
Finally, high-level principles and initiatives serve as reference points for sustainability governance mechanisms and provide guidance to actors along the value chain towards more sustainable practices.

The authors’ conclusion: The European Union’s existing sustainability governance framework provides a basis for the sustainable expansion of the hydrogen sector. To be effective, therefore, there is no need for a multitude of new instruments or mechanisms. Rather, the next step requires targeted adjustments and additions to drive forward the expansion of a sustainable hydrogen sector.

Berger Paints Responds to India’s Heat Challenge with ‘Garmi Gone, Thandak On’ Home Cooling Solutions Range

Apr 13: As temperatures continue to climb year after year, staying cool is no longer just about comfort, it is becoming a daily challenge for millions of households across India. Against this backdrop, Berger Paints India Ltd., the country’s second-largest paint company and a leader in protective coatings, has introduced a more intuitive and immersive way to tackle rising heat through its Home Cooling Paints Range. This is supported by a nationwide campaign, Garmi Gone, Thandak On’, which promotes smarter and more energy-efficient ways of living.

Recognizing that a significant amount of heat enters homes through walls, roofs, and structural openings, Berger Paints’ Home Cooling range offers a practical solution through innovative products such as Berger Anti Dustt Kool and Berger Roof Kool & Seal, which are designed to reduce heat absorption across walls and rooftops. The range also includes Berger Tank Kool, which addresses an often-overlooked source of heat—black synthetic water tanks that tend to overheat during peak summers. Together, the range provides a holistic approach to lowering indoor temperatures at the source.

At the heart of the campaign lies a simple but powerful idea, smarter cooling must go beyond air conditioning. By addressing heat ingress at its origin, Berger Paints is positioning its solutions as not only effective and accessible, but also as a more sustainable alternative to energy-intensive cooling methods. The solutions can help reduce surface and ambient temperatures by up to 10°C, making them especially relevant for heat-prone regions and cost-conscious households.

Taking this commitment a step further, Berger Paints is extending its cooling solutions to underserved communities through a partnership with Smile Foundation. As part of this initiative, the company will undertake a school beautification programme across 30 government schools in Uttar Pradesh and Rajasthan. By applying heat-reflective coatings to school buildings, the initiative aims to lower indoor temperatures and create more comfortable, heat-resilient learning environments, particularly critical during peak summer months when extreme heat can impact attendance, concentration, and overall student well-being.

The rollout will focus on some of India’s most heat-affected regions, aligning with the growing urgency around climate adaptation. As weather patterns continue to shift, Berger Paints’ Kool range signals a broader transition in how India approaches cooling by moving from reactive solutions to preventive ones. It is a step that combines innovation with purpose, helping households and communities better cope with increasingly harsh summers.

Mr. Abhijit Roy, MD & CEO of Berger Paints India Limited, said, “At Berger Paints, we have always believed in staying ahead of consumer needs, and as we are known to launch industry first innovative products, we understand the evolving challenges households face in heat-prone regions. With our Home Cooling range, we are looking at addressing heat where it begins, rather than where it is felt. Through ‘Garmi Gone, Thandak On’ campaign, we want to drive a larger behavioral shift towards more sustainable and accessible cooling practices, while also extending this impact to communities through our partnership with Smile Foundation.”

SWITCH Mobility Hands Over 100 Electric Buses to Mauritius to Boost Green Transport

A milestone for green steel: SuSteelAG consortium achieves hydrogen-based ore reduction on an industrial scale

The hydrogen rotary kiln in Oshivela, Namibia. Photo: HyIron.

Berlin, 13.04.2026. In 2025, the international SuSteelAG consortium – led by Federal Institute for Materials Research and Testing (BAM) – launched its mission to decarbonize steel production using hydrogen, including when working with lower‑grade ores. Now, the first industrial‑scale pilot test has been successfully completed in Namibia: In an electrically powered hydrogen rotary kiln, 80 tonnes of Australian iron ore were converted climate‑neutrally into direct‑reduced iron (DRI). With this, SuSteelAG is paving the way for a sustainable value chain linking Australia, Namibia, and Germany -from iron production and refinement to green steel.

The steel industry accounts for around seven percent of global CO₂ emissions; transforming it is therefore a central lever of the energy transition. This is where the SuSteelAG project (Sustainable Steel from Australia and Germany) comes in: Coordinated by BAM, the project is developing a hydrogen‑based direct‑reduction process that, for the first time, can also utilize lower‑grade ores – thereby expanding the resource base available for green steel production.

Until now, climate‑neutral steel production has only been feasible using premium ores with an iron content of roughly 70 percent. These ores, however, are scarce and expensive worldwide. Moreover, existing processes require the use of a shaft furnace, which in turn demands cost‑ and energy‑intensive pelletizing of the ore.

In early April 2026, for the first time, untreated Australian iron ore with a comparatively low iron content (~56 percent) was processed into direct‑reduced iron at industrial scale at the Oshivela site in Namibia, where project partner HyIron Green Technologies operates an innovative hydrogen rotary kiln.

For the campaign, 80 tonnes of iron ore supplied by Australian mining and technology company Fortescue – also a SuSteelAG partner – were available. The German industrial furnace manufacturer TS Elino GmbH was primarily responsible for designing and constructing the rotary kiln. Prior to the industrial trial, BAM had extensively studied hydrogen‑based iron reduction at laboratory scale and derived the optimal operating parameters for the large‑scale process. Based on these findings, the Oshivela plant succeeded in refining the Australian ore into iron under climate‑neutral conditions and with a throughput of approximately five tonnes per hour.

“We have now reached a scale that is highly relevant for industrial production and demonstrated that hydrogen‑based direct reduction of lower‑grade ores can be operated economically – an essential step toward accelerating green steel production in Germany and beyond,” says Christian Adam (BAM), who coordinates the international SuSteelAG consortium. “This also means that green steel production need not be constrained by the limited availability of premium ores.”

The next step will be to ship the refined iron from Namibia to Germany. Salzgitter Mannesmann Forschung GmbH will investigate how the refined iron can best be integrated into existing industrial processes in order to eventually produce climate‑friendly steel for cars and other key products.

RWTH Aachen University (Advanced Mineral Processing Technologies Research and Teaching Unit – AMR) will investigate how Australian ores with lower iron content can be further optimized for direct reduction.

In addition to the companies already mentioned, the SuSteelAG consortium includes HyIron GmbH, Fraunhofer Institute for Surface Engineering and Thin Films IST, Fraunhofer Institute for Ceramic Technologies and Systems IKTS, Heidelberg Manufacturing Deutschland GmbH, and HANSAPORT.

SuSteelAG is funded with approximately €4.5 million under the 7th Energy Research Programme of the German Federal Ministry of Research, Technology and Space. The innovative hydrogen rotary kiln operated by HyIron Green Technologies in Namibia was supported by the German Federal Ministry for Economic Affairs and Energy.

India Revises CAFE 2027 Fuel Efficiency Norms, Shifts to Phased Compliance Framework

New Delhi, Apr 13 (BNP): The government has proposed revised fuel efficiency standards under CAFE 2027, moving away from a strict target-based system to a phased and more flexible compliance approach, according to a draft prepared by the Ministry of Power in consultation with the Bureau of Energy Efficiency (BEE).

The updated framework introduces a flatter compliance curve, aimed at creating a more balanced system and reducing the earlier advantage available to heavier vehicles.

CAFE 2027 represents the third stage of India’s Corporate Average Fuel Efficiency roadmap, which is designed to improve vehicle efficiency and support the country’s long-term climate and energy goals. The proposed norms are set to take effect from April 1, 2027, and will be tightened gradually through FY32.

The draft reportedly relaxes earlier proposals made in September 2025 by adjusting the emission curve, allowing slightly higher fuel consumption limits than initially suggested.

To encourage cleaner mobility, the framework includes “super credits” for electric and hybrid vehicles, allowing them to be counted multiple times in fleet emission calculations. Plug-in hybrids and flex-fuel hybrids are also expected to receive higher credit benefits.

In addition, the proposal permits credit trading between manufacturers, giving automakers greater flexibility in meeting compliance requirements.

However, the report cautions that penalties for non-compliance could still run into hundreds of crores for large manufacturers, making adoption of cleaner technologies and effective credit management crucial for the industry.

Rising Energy Costs to Pressure Cement Makers’ Margins by Up to 200 bps: Crisil

New Delhi, Apr 13 (BNP): Rising energy costs are expected to weigh on the profitability of cement manufacturers, potentially compressing operating margins by up to 200 basis points, according to a report by Crisil.

The report noted that higher fuel and power expenses remain a key concern for the sector, even as demand conditions stay relatively stable. Cement production is energy-intensive, making manufacturers particularly sensitive to fluctuations in input costs.

It added that companies may face margin pressure if energy prices remain elevated, unless they are able to pass on higher costs through price increases or improve operational efficiency.

Overall, the outlook suggests cautious profitability for the sector in the near term amid persistent cost headwinds.

Gold Slips in Futures Market Amid Weak Demand

New Delhi, Apr 13 (BNP): Gold prices declined on Monday, slipping by ₹602 to ₹1,52,050 per 10 grams in futures trading, as weak spot demand weighed on sentiment.

On the Multi Commodity Exchange (MCX), gold contracts for June delivery were trading lower by 0.39% at ₹1,52,050 per 10 grams, with a total business turnover of 1,491 lots.

Analysts said the decline in prices was largely driven by subdued global cues and reduced buying interest in the spot market.

MK Cafe Launches at Al Manara Centre, Dubai

Dubai, Apr 13: Emirati athlete and entrepreneur Musa Khalfan has announced the launch of MK Cafe, a modern café concept designed to deliver quality, efficiency, and consistency for today’s fast-paced lifestyles. Located at Dubai Court within Al Manara Centre, the café offers a refined yet accessible experience rooted in real, everyday needs rather than fleeting trends.

 Open daily from 7:30 AM to 7:00 PM, MK Cafe features a thoughtfully curated menu of premium coffee, signature cold brews, matcha, and specialty beverages, complemented by fresh meals, balanced snacks, and convenient options for customers on the go. Each offering is designed with intention, focusing on quality and simplicity.

Unlike traditional café models that emphasize extensive variety, MK Cafe is built around a clear philosophy—to integrate seamlessly into daily routines. Its clean, contemporary interiors create a calm and welcoming environment, making it an ideal space for a quick coffee, a light meal, or a short break during a busy day.

Speaking on the launch, Musa Khalfan, Founder of MKI Investments, said:

“MK Cafe reflects how I approach both sport and business—with discipline, consistency, and attention to detail. We wanted to create a space that people can rely on daily, whether it’s for a quality coffee, a quick meal, or simply a place that feels easy to be in.”

Widely recognized as one of the UAE’s most accomplished athletes and known as the country’s fastest man, Khalfan has also built a strong entrepreneurial presence. His ventures include the popular MK Barber Shop, with locations in Palm Jumeirah and Al Wasl Road, frequented by international celebrities.

MK Cafe marks his first venture into the food and beverage sector and represents the latest addition to the growing portfolio of MKI Investments, which spans retail, lifestyle, investment, petroleum, and real estate.