Category Archives: Business

India Sees Strong Bank Deposit Growth, Reflecting Positive Economic Sentiment

Mumbai, July 11: Rising bank deposits in India indicate stronger capital flows, improved savings, and growing confidence in the country’s economic outlook.

The increase in deposits is expected to strengthen banking sector liquidity and support credit growth during the first quarter. Experts believe the trend reflects positive sentiment among households and businesses.

Higher deposit mobilisation will provide banks with greater capacity to support lending and contribute to overall economic growth.

The banking sector is expected to maintain steady momentum, supported by stable financial conditions, rising credit demand, and improving investment activity.

Piyush Goyal Calls for Stronger Productivity Ecosystem

New Delhi, July 11: Union Minister for Commerce and Industry Piyush Goyal chaired a meeting of the National Productivity Council (NPC) to review initiatives aimed at strengthening India’s productivity ecosystem and enhancing the country’s global competitiveness.

 Pic Credit: https://x.com/PiyushGoyal

During the meeting, the Minister emphasized the need to foster a culture of productivity, innovation, and efficiency across industries, services, and government institutions. He called for greater adoption of modern technologies, digital transformation, skill development, and best management practices to improve operational efficiency and drive sustainable economic growth.

The discussions focused on expanding the reach of productivity initiatives, promoting capacity building among industries—particularly Micro, Small and Medium Enterprises (MSMEs)—and encouraging collaboration between government, academia, and industry to enhance productivity standards.

Goyal underscored the importance of productivity as a key driver of economic development, employment generation, and global competitiveness. He urged the National Productivity Council to intensify awareness programmes, training, consultancy services, and research initiatives that help businesses improve quality, reduce costs, and increase efficiency.

The meeting also reviewed the Council’s ongoing programmes and explored strategies to strengthen institutional support for productivity enhancement in line with the government’s vision of building a globally competitive and self-reliant economy.

The National Productivity Council continues to play a pivotal role in promoting productivity-led growth by providing training, consultancy, and capacity-building support across various sectors of the economy.

India, New Zealand Strengthen Trade, Investment Ties

 Pic Credit: https://x.com/PMOIndia

New Delhi, July 11: Prime Minister Narendra Modi has invited New Zealand businesses and investors to expand their presence in India, highlighting the country’s vast opportunities across key sectors including manufacturing, infrastructure, renewable energy, technology, agriculture, food processing, innovation, and the digital economy.

The call came as India and New Zealand reaffirmed their commitment to strengthening bilateral economic relations by accelerating the implementation of the proposed Free Trade Agreement (FTA). The two countries agreed to fast-track negotiations and deepen cooperation to enhance trade in goods and services, promote investments, and facilitate greater economic engagement.

The leaders emphasized that a comprehensive and balanced FTA would unlock new opportunities for businesses in both countries by improving market access, reducing trade barriers, and fostering stronger collaboration across strategic sectors. The agreement is also expected to boost exports, create employment opportunities, and strengthen resilient supply chains.

Prime Minister Modi underscored India’s emergence as one of the world’s fastest-growing major economies and encouraged New Zealand companies to take advantage of the country’s investor-friendly policies, expanding infrastructure, and robust manufacturing ecosystem. He highlighted the government’s commitment to ease of doing business and its focus on innovation-driven growth.

Both sides also agreed to strengthen cooperation in agriculture, dairy, education, tourism, clean energy, digital technologies, and skill development, while encouraging greater collaboration between businesses, startups, and research institutions.

The renewed commitment to advancing the FTA reflects the shared vision of India and New Zealand to elevate their economic partnership, expand bilateral trade, and create new avenues for sustainable growth and investment. Officials from both countries are expected to continue discussions to expedite the agreement and deliver tangible benefits to businesses and consumers alike.

The development marks another significant step in deepening India–New Zealand strategic and economic ties, with both nations expressing confidence that enhanced trade and investment cooperation will contribute to long-term prosperity and mutual growth.

West Asia Crisis Weighs on Indian Markets; Sensex, Nifty Slip

Mumbai, July 11: India’s benchmark equity indices, the BSE Sensex and NSE Nifty 50, ended the week with modest losses as escalating geopolitical tensions in West Asia dampened investor sentiment and triggered cautious trading across global financial markets.

Despite a resilient domestic economic outlook and continued foreign institutional investor (FII) buying during the week, markets remained under pressure due to growing concerns over the impact of the West Asia conflict on global crude oil prices, inflation, and overall economic stability.

Market participants largely adopted a wait-and-watch approach, with volatility increasing as investors closely monitored geopolitical developments and their potential implications for global trade and energy supplies. Sectors sensitive to rising input costs, including automobiles, aviation, and consumer goods, witnessed selective selling, while defensive sectors offered limited support to the broader market.

Analysts noted that although the weekly decline remained moderate, investor sentiment was influenced by uncertainty in international markets. However, India’s strong macroeconomic fundamentals, healthy corporate earnings expectations, and sustained domestic institutional investments helped limit the downside.

Going forward, market experts believe investor focus will remain on geopolitical developments, crude oil price movements, corporate earnings announcements, inflation trends, and global central bank policy decisions, all of which are expected to shape market direction in the near term.

While short-term volatility may persist, analysts remain optimistic about the long-term outlook for Indian equities, supported by robust economic growth, policy stability, and continued participation from domestic investors.

Fujitsu Group achieves gold medal in EcoVadis sustainability rating

July 11:  Fujitsu Limited today announced that the Fujitsu Group has received a gold medal in the sustainability rating conducted by EcoVadis, an international rating agency. This marks the first time the Fujitsu Group has achieved a gold medal, ranking it among the top 5% of companies assessed, in recognition of its continuous improvement in sustainability initiatives.

FIIs Turn Net Buyers, Infuse INR 4,670 Crore into Indian Equity Markets This Week

Mumbai, July 11: Foreign Institutional Investors (FIIs) emerged as net buyers in the Indian equity market this week, investing a total of ₹4,670 crore, marking a significant turnaround in foreign fund flows and reflecting renewed confidence in India’s economic and market fundamentals.

The latest investment comes after a period of cautious trading by overseas investors and is being viewed as a positive signal for the domestic stock market. Analysts attribute the renewed buying interest to India’s resilient economic growth, stable macroeconomic environment, easing inflationary pressures, and optimism surrounding upcoming corporate earnings.

The sustained inflow of foreign capital has provided additional support to benchmark equity indices, strengthening overall market sentiment and improving liquidity. Market experts believe that continued FII participation could further enhance investor confidence and contribute to market stability in the coming weeks.

The renewed buying trend also highlights India’s attractiveness as a preferred investment destination among emerging markets, supported by strong domestic consumption, robust policy reforms, and long-term growth prospects.

However, analysts caution that foreign investment flows are likely to remain sensitive to global factors, including interest rate decisions by major central banks, geopolitical developments, and international economic conditions. Despite these uncertainties, the week’s net investment indicates a positive shift in overseas investor sentiment towards Indian equities.

Market participants will continue to closely monitor global cues, domestic macroeconomic data, and the ongoing corporate earnings season for further direction on foreign portfolio investments.

The latest FII inflows are expected to provide additional momentum to the Indian capital markets and reinforce confidence among domestic and international investors alike.

Umiya Buildcon Announces Q1 FY27 Financial Results; Products Business Continues Growth Momentum

Bengaluru, July 11: Umiya Buildcon Limited, a publicly listed dual-sector company, today announced its financial results for the first quarter ended June 30, 2026, reporting steady operational performance across its products, solutions and real estate businesses despite ongoing global supply chain challenges.

Real Estate Segment

The Real Estate segment continued to progress in line with planned execution schedules. Development activities at the company’s ongoing projects, including Umiya Bricklane and Umiya Prism, continued during the quarter, with the management focused on timely execution and long-term value creation.

Commenting on the results, Mr. Aniruddha Mehta, Chairman and Managing Director, Umiya Buildcon Limited, said, “Our Q1 performance reflects the strength of our diversified business model and disciplined execution across our businesses. The products business vertical which is our focus area continued to deliver healthy year-on-year growth, while our real estate projects progressed as planned. With a strong order pipeline, continued focus on indigenous innovation and steady project execution, we remain confident of creating sustainable long-term value for our stakeholders.”  

Products Segment

During the quarter, the company delivered steady operational performance across its business segments, supported by disciplined execution, a diversified business model, and continued focus on innovation and customer engagement. Compared to the corresponding quarter of the previous financial year, the company recorded encouraging performance across its core business segments.

The global electronics supply chain continues to face significant challenges, particularly in the availability of RAM (Memory) and PCB (Printed Circuit Board) components, due to the reallocation of manufacturing capacity towards cloud services and AI data centres. This has led to component shortages, rising prices, and longer lead times across the commercial electronics industry.

Despite these headwinds, the Products vertical delivered year-on-year growth of 78.83% in Q1, supported by proactive supply chain planning, prudent inventory management, and strong customer engagement.

The Products segment remained the company’s key growth driver, with continued focus on indigenous networking products, solutioning capabilities, and investments in Research & Development across network operating systems, next-generation switching technologies, and data centre networking solutions. Demand from telecom, enterprise, and government customers remained healthy, backed by a strong order pipeline.

Group Captain C.S. Krishnadas (Retd), Chief Executive Officer, Umiya Buildcon Limited, added, “The quarter was marked by disciplined execution despite continued supply chain pressures across the global electronics industry. Our teams remained focused on ensuring timely deliveries, strengthening customer engagement and advancing our indigenous technology roadmap. As demand for secure networking and digital infrastructure continues to grow, we remain committed to enhancing our capabilities and executing opportunities across our technology and solutions businesses.” 

Solutions Segment

The Solutions segment continued to execute ongoing projects in the telecom and digital infrastructure space while maintaining operational efficiency and customer service standards. The company remains focused on timely project execution and strengthening its presence in government and enterprise networking solutions.

During the quarter, promoter share acquisitions, wherever applicable, were duly disclosed to the Stock Exchanges in line with the applicable disclosure requirements. The company remains committed to maintaining high standards of corporate governance, operational excellence and regulatory compliance. 

Looking ahead, the management remains optimistic about the opportunities in both the technology and real estate businesses. With a healthy order pipeline, ongoing project execution and continued investments in innovation and manufacturing capabilities, the company is well positioned to deliver sustainable long-term growth and create value for all stakeholders.

Intuitive signs MoU with Fortis Hospital to establish India’s first Total Program Observation site in a non-metro city

July 10: Intuitive, a global technology leader in minimally invasive care and the pioneer of robotic-assisted surgery (RAS) and Fortis Mohali, today announced the signing of a Memorandum of Understanding (MoU) to establish India’s first Total Program Observation (TPO) site in a non–metro city. The Memorandum of Understanding (MoU) was signed in the presence of Glenn Vavoso , Senior Vice President and President, Intuitive Asia Pacific; and Rohitt Mahajan , Vice President and General Manager, Intuitive India, Abhijit Singh , Head – Strategic Business Unit (SBU), Fortis Mohali; Dr. Bishnu Panigrahi , Group Head – Medical Strategy and Operations, Fortis Healthcare;

The collaboration reflects a shared vision to support the next phase of robotic-assisted surgery in India, with a focus on programme maturity, structured training, patient safety and multidisciplinary readiness. The TPO site at Fortis Hospital Mohali will create a peer-to-peer learning platform for healthcare professionals to observe how an established robotic programme is built, governed and sustained in a real-world Indian healthcare setting.

Fortis Hospital Mohali has developed a multidisciplinary robotic-assisted surgery programme across specialties including gynaecology, gastrointestinal oncology, urology and head and neck surgery. The hospital has completed more than 3,600 robotic-assisted procedures, supported by 18 robotic surgeons and two da Vinci surgical systems. Serving patients across Punjab, Haryana, Himachal Pradesh, Chandigarh and neighbouring regions, Fortis Hospital Mohali offers a valuable non–metro reference point for institutions looking to strengthen robotic-assisted surgery programmes in similar healthcare settings.

Through the TPO site, visiting surgeons, care teams, hospital administrators and executive leaders will have the opportunity to engage in structured peer-to-peer learning with an established robotic-assisted surgery programme. Beyond clinical observation, participants will gain exposure to the broader elements that support programme maturity, including surgeon training pathways, multidisciplinary team coordination, operating room workflows, patient safety processes, programme governance, executive alignment, financial planning and long-term service development.

Sharing a global perspective, Glenn Vavoso, Senior Vice President and President, Intuitive Asia Pacific, said, “Across the world, we are seeing healthcare systems increasingly focused on building robotic-assisted surgery programmes that are sustainable, scalable and integrated into broader models of clinical excellence. Total Program Observation sites support this by enabling healthcare teams to observe established programmes and apply relevant learnings within their own institutions. Fortis Hospital Mohali’s inclusion in this global network is a testament to India’s growing leadership in robotic-assisted surgery and its commitment to advancing high-quality, minimally invasive care through collaboration, education and peer learning.”

Commenting on India’s evolving robotic-assisted surgery landscape, Rohitt Mahajan, Vice President and General Manager, Intuitive India, said, “Robotic-assisted surgery in India is entering a new phase of growth, where success will be defined not just by technology adoption, but by building sustainable, high-quality surgical programmes. Fortis Hospital Mohali’s recognition as India’s first Total Program Observation site in a non–metro city reflects the growing maturity of the ecosystem and the important role experienced institutions can play in advancing best practices, strengthening capabilities and expanding access to minimally invasive care across the country.” 

Commenting on the collaboration, Abhijit Singh, Head – Strategic Business Unit (SBU), Fortis Mohali, said, “Robotic-assisted surgery continues to expand across India, healthcare institutions are increasingly looking to understand how to build sustainable programmes around the technology. Total Program Observation supports this need by enabling structured peer-to-peer learning across clinical, operational and leadership functions. It also reflects a shared commitment to strengthening training, sharing best practices in programme governance and safety processes, and helping hospitals build the capabilities required to deliver advanced minimally invasive care with greater consistency.”

This collaboration is expected to strengthen India’s robotic-assisted surgery ecosystem by creating a practical learning platform for hospitals seeking to build or enhance their own programmes, particularly beyond major metropolitan centres.

Fynd’s Festive Readiness Report Reveals Festive 2026 Will Be Won Before the First Sale Goes Live

Mumbai, July 10: Fynd, an AI-native retail technology company backed by Reliance Retail Ventures Limited, today released its Festive Readiness Report 2026, a forward-looking intelligence report for fashion, lifestyle and retail brands preparing for India’s biggest shopping season.

The report analyses shifts from the 2024 and 2025 festive seasons and outlines what brands must do before Festive 2026 begins. It draws on Fynd’s marketplace intelligence data collected between March 2025 and June 2026, covering leading marketplaces such as Amazon, Flipkart, Myntra, AJIO, Nykaa, JioMart, and other major commerce platforms. The report aims to highlight that Festive 2026 will be won before the first sale goes live. Brands will need to move from reactive discounting to early planning, sharper inventory allocation, faster fulfilment, marketplace-specific strategies and prepaid-first checkout.

“Festive 2026 will not be won by the brands that discount the deepest, but by those that prepare the earliest and execute the fastest,” said Ragini Varma, Chief Business Officer – India, Fynd. “The 2025 season showed us that people shopping from Tier III cities are now leading mainstream growth markets and store-led fulfilment is becoming critical to speed and margin protection. Brands need one real-time operating layer across inventory, marketplaces, fulfilment, pricing and checkout. That is where Fynd helps them turn festive readiness into measurable growth.”

Six signals for Festive 2026

The report identifies six signals every fashion brand must act on this year:

• Inventory is now a competitive advantage: Real-time, unified stock visibility will decide who captures the earlier festive peak and who loses sales to stockouts.
• Tier III cities are mainstream demand centres: Tier III cities contributed 46% of festive demand, ahead of Tier I at 35% and Tier II at 19%, making smaller-city assortment, sizing, pricing and delivery promises critical.
• Speed beats discounts: 77% of returns happened when delivery took more than three days, making sub-three-day fulfilment a direct lever for both conversion and margin protection.
• Marketplace dependence is rising: Myntra, JioMart and Flipkart together accounted for nearly 80% of festive demand, with Myntra alone contributing 49%, requiring brands to allocate inventory and ad spend by marketplace strength.
• Store fulfilment has become essential: Store-led fulfilment rose from 29% of orders in 2024 to 51% in 2025, overtaking warehouses and helping brands ship faster from locations closer to customers.
• Prepaid customers are the healthiest cohort: Prepaid crossed 53% of payments, while COD drove 73% of returns-to-origin, making UPI-first checkout and prepaid nudges important for healthier festive margins.

In 2025, festive demand peaked eight days before Diwali, while pre-Navratri D2C order volumes were already up 16% year on year. Average markdowns fell from 44% in 2024 to 34% in 2025, showing that shoppers continued to buy even as brands protected margins. At the same time, 55% of sales happened below ₹2,000, making value-led pricing more important than blanket discounting.

For brands, the report breaks festive readiness into three clear moments: plan early by forecasting demand and placing inventory where it is needed; stay agile during the season by tracking stock, pricing and stockouts in real time; and use the post-festive period to learn from returns, recover inventory and build stronger customer cohorts

Fynd helps brands act on these signals through one platform for marketplace selling, unified inventory, store-led fulfilment, real-time demand intelligence, value-led pricing and prepaid-first checkout. The platform enables brands to sell across marketplaces including Myntra, Flipkart, Amazon, AJIO, Nykaa and JioMart, while turning stores into fulfilment nodes through intelligent order routing and inventory hopping.

New Zealand Welcomes UPI to Strengthen Digital Economy

New Delh, July 10: New Zealand has welcomed the expansion of India’s Unified Payments Interface (UPI), describing it as a significant step towards modernising its digital economy and strengthening financial connectivity between the two countries.

Speaking on the growing partnership in digital payments, New Zealand’s Trade Minister said the introduction of UPI would make transactions more seamless for businesses, tourists, students, and the Indian diaspora, while supporting greater economic engagement.

The move is expected to simplify cross-border digital payments, improve convenience for travellers, and encourage stronger trade and investment ties. It also reflects the increasing global recognition of India’s digital public infrastructure and its role in enabling secure and efficient financial transactions.

The collaboration marks another milestone in India-New Zealand economic relations, with both countries looking to deepen cooperation in digital innovation, fintech, and technology-driven commerce.

The adoption of UPI in New Zealand is expected to enhance payment accessibility while reinforcing efforts to build a more connected, inclusive, and digitally enabled economy.