Category Archives: Business

Odisha News: WTC Bhubaneswar, NSIC Organise MSME TEAM Awareness Programme to Boost Digital Market Access

Paradip: World Trade Center Bhubaneswar, in association with National Small Industries Corporation, successfully organised an Awareness Programme on the MSME TEAM (Trade Enablement & Marketing) Initiative to mark International MSME Day 2026 at the IFFCO Community Hall in Paradip.

The event brought together MSMEs, self-help groups (SHGs), entrepreneurs, industry representatives, and government officials to explore new opportunities in digital commerce, market access, and business growth through the MSME TEAM Initiative and the Open Network for Digital Commerce.

The programme was graced by Sampad Chandra Swain, Hon’ble Minister for Industries, Skill Development & Technical Education, Government of Odisha. Addressing the gathering, the Minister reiterated the state’s commitment to strengthening the MSME ecosystem by promoting digital adoption, enhancing market access, and supporting entrepreneurship.

The organisers acknowledged the support of NSIC, dignitaries, industry partners, speakers, and participants for contributing to the success of the programme. The initiative reflects a shared commitment to building a stronger, digitally empowered, and globally competitive MSME ecosystem in Odisha through greater collaboration and innovation.

IPICOL, ACME Group Sign MoC to Boost Clean Energy and Industrial Development in Odisha

Bhubaneswar: In a significant step towards strengthening industrial growth and sustainable development in Odisha, the Industrial Promotion and Investment Corporation of Odisha Limited (IPICOL) and ACME Group signed a Memorandum of Cooperation (MoC) to promote collaboration in clean energy, advanced manufacturing, and industrial development.

The agreement was signed by Aboli Sunil Naravane, Managing Director of IPICOL, and Manoj Kumar Upadhyay, Founder and Chairman of ACME Group.

The MoC aims to foster strategic cooperation in developing clean energy projects, encouraging advanced manufacturing capabilities, and accelerating industrial investments in Odisha. The collaboration is expected to support the state’s vision of becoming a leading destination for sustainable industries while creating new opportunities for investment, innovation, and employment.

The partnership marks an important milestone in Odisha’s efforts to attract next-generation industries and strengthen its position as a hub for green and future-ready industrial development.

Canara Bank Chandigarh Circle signs an MoU with Punjab State Power Corporation Limited

July 3: Canara Bank Chandigarh Circle signs an MOU with the Punjab State Power Corporation Limited  for the collection of electricity bill payments through payment gateways.

The event was graced by the august presence of several distinguished dignitaries, including:

·Shri. Chander Singh Tomar, General Manager & Circle Head, Chandigarh Circle

·Shri B Ravi, Deputy General Manager & Regional Head, Chandigarh

·Shri S. K. Beri, Director (Finance), PSPCL

·Shri Jaswinder Singh, CAO (Revenue), PSPCL

 The MOU was signed by Shri B. Ravi, Regional Head, RO Chandigarh, in the presence of Shri Chander Singh Tomar, Circle Head, Chandigarh, and Shri S. K. Beri, Director , PSPCL, along with senior officials from Canara Bank and PSPCL.

 The event concluded with the assurance of Canara Bank and PSPCL to work towards providing a superior digital payment experience to millions of electricity consumers across Punjab State.

Nifty Ends Above 24,270, Posts Weekly Gain on Positive Global Cues

July 3: India’s benchmark equity index, the Nifty, closed above the 24,270 mark at the end of the week’s trading session, registering a gain of around 1% for the week amid positive global market sentiment and sustained investor confidence.

The rally was supported by favourable international cues, improving risk appetite among investors, and buying interest across key sectors. Market participants also tracked global economic developments and expectations surrounding monetary policy, which contributed to the positive momentum.

Analysts noted that strong participation from domestic investors and selective buying in heavyweight stocks helped the benchmark index maintain its upward trajectory despite intermittent market volatility.

The week’s performance reflects continued resilience in the Indian equity market, with investors remaining optimistic about the country’s economic outlook and corporate earnings. Market experts expect global developments, domestic macroeconomic indicators, and quarterly earnings announcements to remain key drivers of market sentiment in the coming weeks.

Artha Bharat Launches Gift City’s First Artha Bharat FinMet Physical Gold Fund

Gandhinagar , Mumbai, July 3: Artha Bharat Investment Managers IFSC LLP, a fund management entity in India’s premier financial hub, has debuted the Artha Bharat FinMet Physical Gold Fund – the first-ever physical commodity fund – and the first gold fund to be launched from GIFT City. The launch of the fund follows IFSCA’s formal notification of commodity trading as a financial product under the IFSCA Act, effective January 2026. This landmark launch will create a new milestone following the enabling regulatory framework created by the GIFT City regulator.

“We are grateful to the International Financial Services Authority for working with the industry to develop a robust regulatory framework that rewards and encourages innovation in product offering that will help establish GIFT City as the preeminent IFSC of the region,” said Sachin Sawrikar, Managing Partner, Artha Bharat Investment Managers IFSC LLP.

Strategic Partnership & Investment Objective

The open-ended, passively managed fund is launched in partnership with Singapore-based precious metals specialist FinMet, who serves as the investment advisor. The scheme is designed to track international spot gold prices with minimal tracking error, allocating at least 95% of its assets to London Bullion Association standard gold bars traded on the GIFT City headquartered India International Bullion Exchange . IIBX is a JV of NSE, NSDL, CDSL, MCX and a BSE subsidiary.

The fund offers weekly subscriptions and redemptions, providing investors with liquidity rarely available in physical commodity-based fund structures. The Artha Bharat FinMet Physical Gold Fund also has a highly competitive total expense ratio of 0.65% per annum.

Unique Redemption & Secure Storage

“Our scheme will invest in physical gold stored in IIDI  insured vaults within GIFT City — regulated by IFSCA,” said Sawrikar. GIFT City’s first physical gold backed fund also has another unique USP. “Another first with our scheme is that investors will have an option to receive certified physical gold bars or equivalent cash when they wish to redeem their units in the scheme,” added Sawrikar.

The Case for Gold: Performance and Diversification

With gold currently trading approximately 28% below its January all-time high, Artha Bharat views this as a strategic entry point for medium to long term investors. India has been one of the world’s top two to three consumers of gold globally with conventional wisdom of the Indian housewife urging investments into gold as a store of value and an insurance for a rainy day. Gold has delivered exceptional returns to investors, with a CAGR of 13.7% over the last 10 years, 20.4% over the last 5 years, and an impressive approximately 20% over the last year .

“Gold offers three structural advantages that make it indispensable in any portfolio: near-zero correlation with equities, freedom from counterparty and sanctions risk, and competitive long-run returns,” said Sawrikar.

These three structural advantages are:

• Near Zero Correlation: A 0.02 correlation factor with the S&P 500.
• No Counterparty Risk: The only international reserve asset free from sovereign credit risk or sanctions exposure.
• Competitive Returns: Gold compounded at 12.1% p.a. since 2001, outperforming the S&P 500’s 10.4% total return over the same period.

“Gold stood firm in 2022 when bonds and equities fell simultaneously, challenging the traditional 60/40 framework. Gold is the genuine third leg of a resilient portfolio, not a bond substitute,” states Sawrikar.

Global Expertise and Secure Custody

By utilizing IIDI-insured, IFSCA-regulated vaults, the fund offers “strategic diversification” through segregated storage independent of Western custodian networks.

FinMet brings a wealth of global bullion network access, advising the fund on IIBX trading protocols, LBMA pricing, and central bank activity. The scheme will offer weekly subscriptions and redemptions, providing liquidity alongside institutional-grade security.

Catalysing India’s Gold Trading Ecosystem: The IIBX Imperative

The Artha Bharat FinMet Physical Gold Fund is more than a product launch, it is a deliberate act of ecosystem building. The India International Bullion Exchange (IIBX), launched in July 2022 at GIFT City as India’s first international bullion exchange, has struggled to establish sustained trading volumes. After rising from 411 kg in FY2022–23 to 92 tonnes in FY2024–25, volumes collapsed to barely 600 kg year-to-date in FY2025–26. Critically, the activity that has driven IIBX to date has been almost entirely commercial import-led, by jewelers with no meaningful participation by institutional investment funds holding gold as a financial asset.

The Artha Bharat FinMet Physical Gold Fund will be the first investment fund to hold physical gold on IIBX, introducing a new category of participant and a qualitatively different source of demand: long-term institutional investment flows rather than short-cycle import transactions.

“IIBX was built to be world-class infrastructure for gold trading and storage, regulated, transparent, and LBMA-standard. But infrastructure only realises its potential when it has sustained utilisation. Our fund will be the first institutional investment vehicle to use IIBX and IIDI vaults not for import, but for holding gold as a long-term financial asset. We hope this catalyses other fund managers, family offices, and institutional investors to follow, and in doing so, fulfil the original vision of GIFT City as a global hub for gold finance, not merely a conduit for jewelry imports,” said Sawrikar.

Housing Affordability Holds Firm Across Most Major Indian Cities: Report

July 3: Housing affordability remained largely unchanged across six of India’s eight major cities, indicating continued resilience in the residential real estate market despite evolving economic conditions, according to a recent industry report.

The report attributes the stable trend to steady income growth, relatively stable home loan rates, and balanced residential property prices in most urban markets. Together, these factors have helped preserve homebuying capacity for prospective buyers.

Although affordability moderated in two cities due to rising property prices and financing costs, the overall outlook for the housing sector remains positive. Demand continues to be driven primarily by end-users, supported by improving consumer sentiment and sustained interest in home ownership.

According to the report, stable affordability is expected to support continued growth in the residential real estate sector, with developers focusing on demand across both mid-income and premium housing segments.

Quick Commerce Emerges as a Structural Shift in Urban Retail: Report

India’s Consumer Goods Sector Projected to Grow 17.3 pc in Revenue Through 2030

New Delhi, July 3: India’s consumer goods sector is projected to register strong growth, with revenues expected to rise by 17.3 per cent through 2030, according to industry estimates.

The outlook is driven by steady demand across both urban and rural markets, supported by rising disposable incomes, evolving consumer preferences, and greater adoption of branded and packaged products.

Key categories expected to contribute to this growth include packaged foods, personal care, home care, and lifestyle products. Expansion of modern retail channels and rapid growth in e-commerce are also expected to support wider product reach and availability.

Industry experts note that premiumisation, convenience-led consumption, and increased brand awareness are shaping purchasing behaviour across segments.

While the long-term growth trajectory remains strong, analysts caution that inflationary pressures, input costs, and global supply chain fluctuations may influence short-term performance.

Overall, the sector is expected to remain a major driver of India’s consumption-led economic growth over the coming years.

Indian Potash Limited and UPL Sustainable Agri Solutions Join Hands to Drive Sustainable Sugarcane Transformation in Gujarat

New Delhi, July 3 : UPL Sustainable Agri Solutions Limited  , a provider of sustainable agriculture solutions, and Indian Potash Limited , one of India’s largest fertilizer importers, suppliers, and distributors and a major player in the sugar sector, have entered into a three-year collaboration agreement to enhance sugarcane productivity, sustainability, and farmer prosperity in the catchment area of IPL’s Kodinar Sugar Mill in Gujarat.

The partnership aims to implement regenerative agriculture practices, advanced agronomy, crop protection, nutrition management, digitalization, and farmer capacity-building initiatives across approximately 2,000 acres of sugarcane cultivation. The program is expected to improve sugarcane yields by a minimum of 15 percent, while supporting resource efficiency, profitability, and climate-smart agricultural practices.

Under the agreement, UPL SAS will deploy a dedicated Program Officer to lead field-level implementation and farmer engagement activities. The initiative will focus on optimizing key agricultural resources including seed, soil, water, fertilizer use, and crop residue management while promoting sustainable crop protection and nutrition solutions tailored to local conditions.

A key component of the collaboration will be the digital transformation of farmer services through the nurture.farm platform, enabling farmer onboarding, geofencing, monitoring of interventions, and impact documentation. The program will also utilize digital communication channels such as WhatsApp and YouTube to accelerate knowledge dissemination and farmer adoption of innovative technologies.

The collaboration is expected to deliver multiple benefits for stakeholders across the sugar value chain:

• Improved sugarcane productivity and cane availability for IPL’s Kodinar Sugar Mill.
• Enhanced crushing capacity utilization and operational efficiency.
• Increased farmer income through adoption of Good Agronomic Practices and regenerative agriculture.
• Reduction in water, fertilizer, and energy consumption.
• Lower greenhouse gas emissions across the sugarcane value chain.
• Acceleration of sustainability and climate commitments of both Organizations.

Speaking on the occasion, Dr. U. S. Teotia, Chief Agricultural Scientist, Indian Potash Limited, Said:

“Indian Potash Limited is committed to supporting farmers through innovative and sustainable agricultural solutions. This partnership with UPL will help strengthen our farmer engagement efforts, improve cane productivity, and contribute to the long-term growth and competitiveness of our Kodinar Sugar operations, The integration of scientific agronomy, digital monitoring, and regenerative farming practices can significantly enhance sugarcane productivity while conserving natural resources. We look forward to creating a model that can be replicated across other sugarcane-growing regions.”

Harshal Sonawane, Head – Sustainability, UPL Sustainable Agri Solutions Limited, added:

“This collaboration reflects UPL‘s commitment to building sustainable and resilient agricultural value chains. By combining science-based agronomy, digital tools, regenerative agriculture, and farmer-centric solutions, we aim to create measurable improvements in productivity, profitability, and environmental outcomes for sugarcane farmers.”

The program will involve extensive farmer outreach through one-on-one advisory services, group meetings, training programs, demonstration plots, field days, and harvest events. Both organizations will work closely to drive adoption of recommended Packages of Practices , monitor progress, and measure impact throughout the project duration.

This collaboration represents a significant step toward creating a more productive, profitable, and sustainable sugarcane ecosystem while supporting India’s agricultural sustainability and climate goals.

NSSH Programme Strengthens SC, ST Small Businesses

New Delhi, July 3: The Government’s National SC/ST Hub (NSSH) scheme is helping Scheduled Caste and Scheduled Tribe entrepreneurs scale up their businesses by improving access to credit, market linkages, and capacity-building support.

Officials said the initiative is designed to strengthen entrepreneurship among SC and ST communities by providing structured support to micro and small enterprises, enabling them to become more competitive and sustainable.

Through the scheme, entrepreneurs receive assistance in areas such as business development, skill enhancement, procurement opportunities, and integration with larger supply chains. This has helped many small enterprises expand operations and explore new markets.

The programme also focuses on improving access to government and private sector procurement opportunities, helping beneficiaries participate more actively in the formal economy.

Officials noted that the initiative is contributing to inclusive growth by encouraging self-reliance and promoting wider participation of SC and ST entrepreneurs in India’s economic development.