Category Archives: Business

NITI Aayog Plans INR 7,500 Crore Push to Boost India’s Sports Goods Industry

India is preparing for a major industrial upgrade in its sports goods and equipment sector, with NITI Aayog proposing ₹7,500 crore in structural reforms and fiscal incentives for the period 2027–2031. The initiative aims to position India as a globally competitive hub for sports manufacturing while significantly boosting exports, employment, and innovation.

This ambitious roadmap is built around a seven-pronged strategy designed to strengthen production capacity, modernise infrastructure, and integrate Indian manufacturers into global supply chains.

India’s Sports Manufacturing Sector Set for Major Expansion

The sports goods industry in India has traditionally been driven by small and medium enterprises, but global demand for fitness equipment, sportswear, and performance gear is rising rapidly. Recognising this opportunity, the proposed policy framework focuses on scaling up domestic manufacturing capabilities.

The goal is clear: transform India from a cost-based supplier into a quality-driven global exporter of sports equipment.

Key Objectives of the ₹7,500 Crore Reform Plan

The proposed strategy focuses on long-term structural transformation rather than short-term subsidies. Key priorities include:

• Expansion of modern manufacturing clusters

• Technology upgradation in production units

• Improved testing, certification, and quality standards

• Better logistics and supply chain efficiency

• Incentives to attract private and foreign investment

• Strengthening export-oriented production systems

These reforms are designed to improve efficiency, reduce costs, and enhance global competitiveness.

Boosting Exports and Global Market Share

A major focus of the initiative is to increase India’s presence in the global sports goods market. Currently, India holds a relatively small share despite strong domestic manufacturing potential.

The policy aims to:

• Increase exports of sports equipment and fitness products

• Improve international quality compliance standards

• Promote “Made in India” branding in global markets

• Strengthen trade competitiveness against established exporters

If successfully implemented, India could emerge as a key alternative manufacturing hub for global sports brands.

MSMEs at the Core of Growth Strategy

Micro, small, and medium enterprises form the backbone of India’s sports manufacturing ecosystem. The reform plan places strong emphasis on supporting MSMEs through:

• Easier access to credit and incentives

• Skill development and workforce training

• Cluster-based industrial development

• Integration into global value chains

This is expected to create large-scale employment opportunities, especially in traditional manufacturing regions.

Economic and Employment Impact

The sports goods sector has the potential to become a high-employment industry, particularly for semi-skilled and skilled workers. The proposed reforms are expected to:

• Generate new manufacturing jobs

• Strengthen export-linked income opportunities

• Encourage entrepreneurship in small-scale industries

• Support regional industrial development

States with existing manufacturing clusters are likely to benefit significantly from this growth push.

Conclusion

NITI Aayog’s proposed ₹7,500 crore reform package marks a strategic step toward transforming India’s sports goods industry into a globally competitive manufacturing powerhouse. By combining infrastructure development, export promotion, and MSME support, the initiative aims to unlock long-term growth potential in a sector with rising global demand.

If implemented effectively, this vision could place India firmly on the global map as a leading exporter of sports goods and equipment by the end of the decade.

Vibhor Steel Tubes bags INR 16.87 crore order for supply of fabricated and galvanised towers

Mumbai, Mar 20: Haryana-based high-quality steel tubes and pipes maker, Vibhor Steel Tubes Ltd (VSTL), has received Rs 16.87 crore order for supply of fabricated and galvanised towers from Agrawal Infracab, a leading manufacturer of cables and conductors for overhead power transmission and distribution lines across the country.

Fab and gal towers are typically used for infrastructural purposes requiring high strength, durability, and corrosion resistance.

Commenting on the development, Mr Vijay Kaushik, Chairman and Executive Director, Vibhor Steel Tubes, said,

“We have been witnessing a buoyant demand for value added steel products backed by a steady growth in infrastructure projects across the country. This order is a testament of our strong manufacturing capabilities and our commitment to deliver high-quality fabricated and galvanised steel towers reinforcing our position as a trusted partner in the fast-growing infrastructure and power transmission sectors. We have seen a healthy growth in our order book this year and we are confident of sustaining the growth momentum moving forward.” 

In June this year, VSTL commissioned its 1.56 lakh MT greenfield project in Odisha and subsequently commenced supply of crash barriers, power transmission line towers, Electric Resistance Welded (ERW) and Galvanised (GI) pipes produced at the unit. The plant, which entailed a total investment of Rs 119.83 crore, offers several value-added steel products such as power transmission line towers, crash barriers, high mast lighting poles, octagonal poles and monopoles.

With the new capacity commissioned, the company’s total capacity has increased to 377,000 MTPA, located across its three plants in Maharashtra, Telangana and Odisha.

The company manufactures steel products such as electric resistance welded pipes, hot-dipped galvanized pipes, hollow section pipes and primer painted pipes among others. VSTL, which has a contract manufacturing agreement with Jindal Pipes to manufacture and supply finished goods under the brand name Jindal Star, currently sees over 80% of its total turnover coming from this one segment.

TransIndia Enters Greater Matunga District, Strengthening Residential Footprint in Mumbai

Mumbai, Mar 20: TransIndia, a trusted Mumbai-headquartered real estate developer with over 15 years of experience in residential and mixed-use development, founded by Mr. Rajendra Rajan, has announced its strategic entry into the Greater Matunga District, encompassing key micro-markets such as Matunga and Sion one of the fast-emerging residential corridors in Mumbai and the wider Mumbai Metropolitan Region (MMR).

 Over the past four years, the Greater Matunga District catchment has witnessed consistent price appreciation, with residential values rising by approximately 37% ft. by the end of 2025. At this level, pricing remains closely aligned with South Central Mumbai, reflecting only a marginal variance and reinforcing the district’s steadily strengthening premium positioning.

The outlook continues to remain optimistic, with value growth expected to accelerate further, driven by rising redevelopment momentum and ongoing infrastructure enhancements across the micro-market. These factors collectively enhance the area’s attractiveness and point towards sustained capital appreciation in the coming years. At the same time, supply dynamics remain favourable, with the estimated time required to liquidate available inventory standing at approximately 18 months, indicating a healthy absorption rate. Notably, the current inventory mix is heavily skewed towards under-construction supply, with only about 2% of units ready to occupy and nearly 98% under development, further supporting future price stability and growth.

Mr. Rajendra Rajan, Founder, TransIndia Group, said,

“Greater Matunga District, including Matunga and Sion, offers a rare balance of legacy, connectivity, and residential character. It is among the few micro-markets in Mumbai that combine central location with quality social infrastructure and a strong community environment. Our entry reflects TransIndia’s long-term vision to develop high-quality residential projects that respect the area’s cultural fabric while introducing modern, sustainable living solutions. We believe this project will be a game changer for the micro-market and set new benchmarks for residential development in this part of the city.”

The transformation of the Greater Matunga District is being underpinned by an unprecedented scale of infrastructure development, with over ₹3.50 lakh crore worth of capital deployed across key projects and more than 2,078 kilometres of infrastructure either delivered or under construction. The micro-market enjoys proximity to some of Mumbai’s most critical connectivity upgrades, including Metro Lines 3 and 4, the suburban railway network, monorail access, and major arterial routes such as the Eastern and Western Express Highways. Additionally, landmark infrastructure such as the Mumbai Trans Harbour Link (Atal Setu), the Mumbai–Ahmedabad Bullet Train corridor, and the Delhi–Mumbai Expressway further enhance regional accessibility. With seamless connectivity to both the existing Chhatrapati Shivaji Maharaj International Airport and the upcoming Navi Mumbai International Airport, the district is emerging as a highly integrated and future-ready urban node, strengthening its appeal as a premium residential destination.

The Greater Matunga District’s enduring appeal is further strengthened by its robust and well-established social infrastructure, which continues to drive strong end-user demand across segments. The neighbourhood offers seamless access to a wide network of reputed educational institutions, healthcare facilities, and lifestyle destinations within a short radius. From leading institutes such as VJTI, ICT, and Welingkar Institute of Management to prominent colleges, schools, and hospitals including Hinduja Hospital and Tata Memorial Hospital, the area is deeply anchored in both academic and healthcare excellence. In addition, its proximity to key commercial hubs, premium retail destinations, and the Chhatrapati Shivaji Maharaj International Airport enhances overall liveability and convenience. This rare blend of cultural legacy, connectivity, and everyday infrastructure positions the district as one of Mumbai’s most stable and sought-after residential micro-markets, particularly for families and long-term homeowners.

TransIndia’s entry into the Greater Matunga District builds on the Group’s philosophy of creating long-term value through quality, sustainability, and thoughtful design. With a strong legacy of assets aligned with international standards, the company now brings the same discipline, execution capability, and vision to residential real estate.

As the Greater Matunga District continues to evolve into one of Mumbai’s most desirable residential addresses, TransIndia Group’s entry marks a defining moment, underscoring its confidence in the corridor and its clear, long-term vision for urban living in the MMR region.

India Launches INR 497 Crore RELIEF Scheme to Safeguard Exporters Amid West Asia Trade Disruptions

ICMAI Concludes RISE India Leadership Summit 2026, Charts Roadmap for CMAs in Advancing Viksit Bharat Mission

 Summit emphasises bridging institutional and industry gaps to accelerate value creation, strengthen GCCs, and support India’s journey towards becoming a developed economy

New Delhi, Mar 20: The Institute of Cost Accountants of India (ICMAI), a statutory body established under an Act of Parliament under the administrative control of the Ministry of Corporate Affairs, Government of India, successfully concluded the RISE India Leadership Summit 2026 in New Delhi, bringing together policymakers, industry leaders, and financial experts to deliberate on the role of strategic leadership in advancing India’s vision of Viksit Bharat 2047, as envisioned by the Hon’ble Prime Minister Shri Narendra Modi.

ICMAI, the largest Cost and Management Accounting body in the world and in Asia, with nearly five lakh students and over one lakh qualified CMAs globally, continues to play a pivotal role in strengthening governance systems, ensuring transparency, and promoting financial discipline across India’s economic ecosystem. 

Held at Shangri-La Eros, the summit centred around the theme “Strategic Leadership for Global Capability Centre – CMAs as Architects of Value Creation & Capability Augmentation”, with a strong focus on identifying institutional, regulatory, and operational gaps that must be addressed to accelerate India’s transformation into a developed economy.

In his address, CMA T.C.A. Srinivasa Prasad, President, ICMAI, underscored the pivotal role of Cost and Management Accountants in driving efficiency, transparency, and value-based decision-making across sectors. He highlighted that CMAs are uniquely positioned to act as strategic enablers in bridging gaps between policy formulation and on-ground implementation, particularly in emerging areas such as Global Capability Centres (GCCs), digital finance, and sustainable growth frameworks.

The summit witnessed the presence of distinguished dignitaries including Shri Beeda Mastan Rao, Hon’ble Member of Parliament; Shri D Prasada Rao Hon’ble Member of Parliament. CMA Anand Kumar Pal, Advisor Manistry of finance, Shri CMA L.V. Sudhakar Babu, Managing Director, Sagarmala Finance Corporation; Shri Vivek Chandrakant Tongankar, Director (Finance), ONGC; CMA Rajesh Kumar Dwivedi, Director (Finance), BHEL; CMA Rakesh Yadav, Chairman, NIRC, ICMAI; and Shri CMA Sanjay Jindal, Director (Finance), Engineers India Limited, among others.

The event also reflected the collective leadership of ICMAI, including CMA Neeraj Dhananjay Joshi, Vice President; CMA Vinayaranjan P, Chairman, Career Counselling & Placement Committee; CMA B B Nayak , CMA Manoj Kumar Anand, CMA Rajendra Singh Bhati, CMA Navneet Kumar Jain, CMA Chittranjan Chattopadhyaya, CMA Avijit Goswami and Council Members; and CMA Dr D.P. Nandy, Secretary, along with other Council Members who contributed to the success of both the summit and the preceding press conference. 

Deliberations throughout the summit focused on strengthening India’s institutional capacity to support the Viksit Bharat mission by enhancing financial discipline, improving cost competitiveness, and fostering innovation-led growth. Speakers highlighted the need for robust policy alignment, capacity building, and deeper industry-academia collaboration to address skill gaps and ensure that India’s GCC ecosystem evolves into a global benchmark for efficiency and value creation.

The summit served as a high-level platform for dialogue, collaboration, and knowledge exchange, bringing together CEOs, CFOs, Directors, senior corporate leaders, HR professionals, senior government officials, and industry representatives to collectively shape strategies for strengthening India’s global business and capability ecosystem. 

A key takeaway from the discussions was the critical importance of CMAs in enabling data-driven governance, optimizing resource allocation, and supporting regulatory frameworks that align with global standards. The summit also stressed the need to institutionalise best practices in cost management and performance measurement to enhance India’s competitiveness in global markets.

Industry leaders from organisations such as Microsoft India, Indian Oil Corporation Limited, Accenture, Apple India Private Limited, Power Finance Corporation Limited, BHEL, NSIC, REC Limited, Central Warehousing Corporation, Cement Corporation of India Limited, KRIBHCO Green Energy Pvt Ltd,  Accenture, HCL, Samsung, Orange Business and TPM Consultants Pvt Ltd shared insights on building resilient and future-ready enterprises aligned with national priorities.

The RISE India Leadership Summit 2026 concluded with a collective commitment from ICMAI and participating stakeholders to actively contribute towards bridging systemic gaps, strengthening institutional frameworks, and enabling a robust economic architecture—reinforcing the role of CMAs as key drivers in achieving the vision of a Viksit Bharat by 2047.

Honeywell Unveils Commercial Launch Of Ai-powered Control Room Assistant Following Successful Pilot

India, Mar 20: Honeywell  today announced the commercial launch of Experion Operations Assistant, an AI-powered solution designed to transform how industrial operators monitor plant performance, make critical decisions and respond to alarm incidents before they happen.

Built on Honeywell’s flagship distributed control system, Experion PKS, Experion Operations Assistant merges historical data with real-time operational insights to allow operators to forecast and respond to potential critical scenarios associated with unsafe operations and production losses. The solution aims to bridge the gap between autonomous technologies and control room operators.

The commercial launch follows the recent pilot program during which Chevron and TotalEnergies were among the partners who leveraged Honeywell’s Experion Operations Assistant in their operations to help minimize unplanned downtime. In its pilot phase, the AI-powered assistant made predictions an average of 5-10 minutes before alarm incidents would have happened, enabling operators to quickly implement corrective actions and avoid potential events.

“Industrials are under pressure to avoid unplanned downtime and maximize the productivity of existing assets, while navigating the massive knowledge transfer of a retiring workforce,” said Jim Masso, president and CEO of Honeywell Process Automation. “By combining more than 50 years of process automation expertise with site-specific knowledge, data and advanced AI, Experion Operations Assistant helps operators anticipate issues earlier, respond with confidence and operate more safely and effectively. Throughout our pilot phase, Experion Operations Assistant delivered tangible, real-world results across multiple customer sites, highlighting the immense opportunity as the solution scales.”

As part of Honeywell’s Experion PKS distributed control system network, the Honeywell Experion Operations Assistant is designed to seamlessly integrate into existing control room environments, leveraging the systems already in place and building on the legacy site-specific data. The solution is centered upon its capability to capture site-specific knowledge and then use language models to analyze this data in real-time in order to proactively advise operators of impending issues.

Raffles Udaipur to Host Exclusive Book Reading & Culinary Experience with Celebrity Chef Shipra Khanna

Udaipur, Mar 20: Raffles Udaipur, the iconic private island retreat set amidst the tranquil waters of Udai Sagar Lake, is set to host an exclusive book reading and culinary collaboration with celebrated chef Shipra Khanna on March 22, 2026 at The Writers Bar.

 Bringing together storytelling, mindful gastronomy, and refined hospitality, the intimate evening promises a multi-sensory experience that reflects the brand’s signature elegance and cultural depth.

As part of the event, Chef Shipra Khanna will host a special reading session from her book Sinfully Yours: Just Desserts, offering guests an opportunity to explore her personal journey, culinary philosophy, and perspective on conscious living. Known for her innovative “Health Unlimited” philosophy, the chef has carved a niche in the culinary world by blending indulgence with wellness.

In addition to the literary experience, Chef Shipra will curate a bespoke menu that will be featured across select dining venues at Raffles Udaipur. Thoughtfully designed, the menu will showcase a harmonious balance of flavour, nutrition, and elevated presentation, extending the experience beyond the evening for in-house guests.

The evening will begin with the book reading session, followed by an interactive engagement with the chef, allowing guests to gain deeper insights into her inspirations and culinary journey. The event will conclude with a personal interaction session, creating an intimate and memorable experience.

Gurnoor Bindra, General Manager of Raffles Udaipur, said:

“At Raffles Udaipur, our focus is on creating experiences that are both immersive and meaningful. This collaboration with Chef Shipra Khanna brings together literature, wellness, and gastronomy in a way that reflects the evolving preferences of our guests. By hosting her at our island retreat and introducing her thoughtfully curated menu within our restaurants, we aim to offer a multi-dimensional experience that is both enriching and memorable.”

Set against the serene backdrop of Udai Sagar Lake and framed by the Aravalli hills, Raffles Udaipur continues to position itself as a destination where culture, cuisine, and conversation converge. This exclusive evening further reinforces the property’s ethos of curating refined, immersive experiences for discerning guests.

Big Launch From Samsung: ‘Galaxy Forever’ brings a new way to own flagship smartphones in India

Mar 20: Samsung announced the launch of Galaxy Forever in India, introducing a new ownership model designed to make its flagship smartphones more accessible. The programme addresses growing demand in the premium smartphone segment by offering a 50% upfront discount with assured buyback after one year and a no-questions-asked-return policy powered by Samsung Care+.

Under Galaxy Forever, customers can own a Galaxy S26 Ultra or Galaxy S26 Plus for a year by paying only half the device cost through 12 no-cost EMIs via Credit Card or Samsung Finance+. Samsung Finance+ promotes financial inclusion by providing easy credit with minimal documentation and quick loan approvals.

After one year, customers using the Credit Card payment mode can return the device for a 50% assured buyback or retain it by paying the remaining 50% in 12 additional no-cost EMIs. Customers using Samsung Finance+ can simply return and upgrade to the next Galaxy flagship, or retain the device by paying the balance in the 13th month.

Galaxy Forever also includes Samsung Care+, offering Accidental and Liquid Damage Protection with zero deductibles for 13 months, ensuring peace of mind from day one.

Key Features of Galaxy Forever

• Eligible Devices: Galaxy S26 Ultra and Galaxy S26 Plus

• Programme Fee: Monthly fee for one year

• Assured Buyback: 50% upfront discount with no-questions-asked return

• Flexible Payment Options: Pay remaining 50% in 12 no-cost EMIs with Credit Card

• Peace of Mind: Samsung Care+ Accidental & Liquid Damage cover for 13 months

• Flexibility: Return, retain, or upgrade after 12 months

• Availability: Samsung.com and 1,500+ Samsung Experience Stores across India

• Payment Methods: Samsung Finance+ (online and in-store), Credit Card No-cost EMI (online only)

Sumit Walia, Vice President, Head of D2C Business & Corporate Marketing, Samsung India, said:

“With Galaxy Forever, we are introducing a customer-first ownership model that makes our flagship Galaxy S26 Ultra and Galaxy S26 Plus more accessible to Indian consumers. The programme has been designed based on the insight that consumers want to own the latest technology while enjoying a hassle-free option to upgrade year after year. Galaxy Forever reflects our commitment to innovation—not only in technology but also in how users own and upgrade to the latest Galaxy devices.”

Samsung has partnered with Servify and DMI Finance to ensure seamless upgrades, returns, and automated settlements. Galaxy Forever is also extended to select corporate employees and students through the Samsung Corporate+ and Student+ online stores, enabling India’s workforce and youth to stay at the cutting edge of the Galaxy ecosystem.

BYD India expands national network to 48; PPS Motors inaugurates India’s largest BYD showroom in Delhi

Delhi NCR, Mar 20: BYD India, a subsidiary of BYD and the world’s leading NEV (New Energy Vehicle) manufacturer, announced the inauguration of its 48th showroom in India and sixth showroom in Delhi NCR, located in Moti Nagar. The new facility, the largest BYD showroom in India, has been launched in partnership with PPS Motors Pvt. Ltd., marking the sixth BYD showroom operated by PPS Motors, in addition to four service workshops across three states, further strengthening the brand’s retail presence in the region.

 The newly inaugurated outlet reinforces BYD India’s expanding footprint in Delhi NCR, one of the country’s fastest-growing and most dynamic electric vehicle markets. Spanning 9,000 sq. ft., the Moti Nagar facility is designed to provide customers with an immersive retail experience, showcasing BYD’s advanced electric passenger vehicles and allowing customers to explore the brand’s technology, design philosophy, and sustainable mobility innovations.

Rajeev Chauhan, Head of Electric Passenger Vehicles Business, BYD India, said,

“The inauguration of our 48th showroom in India and sixth showroom in Delhi NCR with PPS BYD in Moti Nagar represents another important milestone in strengthening BYD India’s retail footprint. Delhi NCR continues to be one of the most dynamic EV markets in the country, supported by increasing consumer awareness and adoption of sustainable mobility solutions. Together with our valued partner PPS Motors, we look forward to bringing BYD’s advanced electric vehicles closer to customers in the region and contributing to India’s transition towards cleaner transportation.”

Rajiv Sanghvi, Managing Director, PPS Motors Pvt. Ltd., added,

“We are proud to further strengthen our partnership with BYD through the inauguration of India’s largest showroom, marking an important milestone in our strategic expansion in Northern India. Being the largest sales and after-sales partner of BYD with 10 touchpoints in India, this reflects our shared commitment to accelerating the adoption of sustainable electric mobility solutions. Backed by BYD’s technologically advanced products and customer-centric approach, coupled with our deep understanding of customer needs, we endeavor to provide a premium and seamless ownership experience for our customers in the Delhi region.”

With this new addition, BYD India’s national electric passenger vehicle dealership network now spans 48 showrooms across 40 cities with 18 dealer partners, reflecting the company’s ongoing efforts to strengthen accessibility and support growing EV adoption in India.

BYD India’s current EV portfolio includes the BYD SEALION 7 premium sedan, BYD SEAL, BYD ATTO 3 eSUV, and BYD eMAX 7 eMPV, offering customers a diverse range of advanced electric mobility solutions. Globally, BYD has sold over 15 million NEVs, contributing to the reduction of more than 129.2 billion kilograms of CO₂ emissions, equivalent to the absorption capacity of nearly 2.14 billion trees.

Consistently ranked among the Top 10 Most Valuable Global Automotive Brands by Kantar BrandZ and positioned #91 in the 2025 Fortune Global 500 with a brand value of USD 14.4 billion, BYD continues to solidify its leadership in the global EV market while accelerating India’s transition toward sustainable mobility.

India’s Bioeconomy Grows to $195 Billion, Targets $300 Billion by 2030: Jitendra Singh

NEW DELHI, March 20: Jitendra Singh on Thursday said India’s bioeconomy has expanded from about $10 billion in 2014 to over $195 billion in 2025, registering an annual growth of 17–18 per cent and emerging as a major global biotechnology hub.

Addressing the 14th Foundation Day of the Biotechnology Industry Research Assistance Council (BIRAC) in New Delhi, the minister said the country is on track to achieve a $300 billion bioeconomy by 2030.

He highlighted that biotechnology is becoming central to India’s growth, driving innovation in healthcare, agriculture, climate solutions and sustainable manufacturing. He credited BIRAC for playing a key role in bridging research and industry, enabling the translation of scientific ideas into market-ready solutions.

Referring to policy initiatives, Singh said the BioE3 Policy will promote sustainable biomanufacturing and innovation in areas such as precision biotherapeutics, smart proteins, climate-resilient agriculture, bio-based chemicals and carbon capture technologies.

He also pointed to the ₹1 lakh crore Research, Development and Innovation (RDI) Fund as a major step to support biotechnology ventures and strengthen India’s deep-tech ecosystem.

The minister noted that India’s bioeconomy now contributes nearly 5 per cent to GDP, citing findings from the India Bioeconomy Report (IBER) 2026 released at the event. The sector, supported by over 11,800 startups, has more than doubled in size since 2020.

Officials said BIRAC’s initiatives in funding, incubation and mentorship have facilitated industry-academia collaboration, leading to the development of affordable healthcare solutions, sustainable technologies and job creation.

Singh emphasised the need to nurture young scientific talent, particularly from smaller cities, and called for continued collaboration among researchers, industry and policymakers to drive innovation-led growth and support the vision of a self-reliant India.