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Chennai: Prime minister Narendra Modi will inaugurate American memory chip maker Micron's Assembly, Test and Packaging (ATMP) facility in Sanand on Saturday, as per a government press release. Union minister for electronics and information technology Ashwini Vaishnaw is also expected to be present at the event. The project, which had its ground-breaking ceremony in September 2023, was the first one approved under India Semiconductor Mission. With a total outlay of over ₹22,500 crore, once the facility is fully ramped up, it will feature around 500,000 square feet of cleanroom space. from Economic Times https://ift.tt/7SHUOL4

Chennai: Indian pacer Arshdeep Singh surpassed Jasprit Bumrah to become the country's highest wicket-taker in ICC T20 World Cup history on Thursday. Arshdeep achieved this milestone (35 wickets) during his side's do-or-die match against Zimbabwe at Chennai and brought his absolute best in this crucial match, taking 3/24 in four overs.In 19 matches since his debut in the 2022 T20 World Cup, Arshdeep has taken 35 wickets at an average of 14.25 and an economy rate of 7.33, with a four-fer to his name. Bumrah was previously the leading wicket-taker for India, with 33 scalps in 23 matches at an average of 14.00, with best figures of 3/7. Bangladesh's Shakib al Hasan (50 wickets) is the top wicket-taker in the tournament's history. So far in the five matches, Arshdeep has taken eight wickets at an average of 16.00, with best figures of 3/24 coming today. In the previous edition back in 2024, Arshdeep was the joint-highest wicket-taker with 17 wickets in eight matches at an av...

New Delhi: Congress leader Rahul Gandhi on Wednesday took a swipe at Prime Minister Narendra Modi, saying it has been more than 24 hours since he challenged the PM to scrap the India-US interim trade deal and once again, he (Modi)has "quietly slipped off to Israel".In a post in Hindi on X, Gandhi said, "Narendra 'Surrender' Modi, it's been more than 24 hours since I challenged you to cancel the US Trade Deal -- and once again, you've quietly slipped off to Israel."<blockquote class="twitter-tweet">नरेंद्र “सरेंडर” मोदी, आपको US Trade Deal रद्द करने की चुनौती दिए हुए 24 घंटे से ज़्यादा हो गए - आप फिर खामोशी से Israel निकल गए।<br/><br/><br/><br />एक बार तो आप Epstein के कहने पर Israel में ‘dance and sing' कर ही चुके - अबकी बार वहां किसके कहने पर देश के हितों के ख़िलाफ़ सौदा कर के आएंगे?… <a href="https://t.co/EpvXFOelcJ">pic.twitter.com/EpvXFOelcJ</a><br/><br/><br />— R...

Mumbai: India has concluded nine free trade agreements (FTAs), covering 38 nations, enabling the country's shipments to get preferential access to nearly two-thirds of global markets, Commerce and Industry Minister Piyush Goyal said on Wednesday. Addressing the EY Entrepreneur Of The Year Awards ceremony here, Goyal said that these pacts will help Indian goods, services, agricultural and fisheries products, and labour-intensive sectors reach new markets, integrate into global value chains and enhance talent mobility. He said that every country wants to enter into a trade deal with India and added that "I have had an engagement with Chile, which wants to conclude the FTA this week. We are launching (FTA talks with) Canada, hopefully when the prime minister (Mark Carney) is here on Monday." He said that India should be able to finalise the Terms of Reference and launch FTA negotiations with Canada. Goyal underscored that India's youth and human capital are at the heart ...

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Outstanding credit to the commercial sector crossed Rs 300 lakh crore at end-January, up 14.7% year on year, signalling a pickup in loan demand in response to the 125-basis-point cut in the policy rate by the Reserve Bank of India (RBI) over the past year to spur growth. One basis point is a hundredth of a percentage point. Incremental credit growth in the first 10 months of this fiscal year was Rs 34.5 lakh crore, up 35% over the corresponding period, data published by the RBI in its latest monthly bulletin showed.128727621 The gap between bank credit and non-banking sources of credit widened in January over the corresponding period. "This shows banks have regained the ground in providing credit," said Madan Sabnavis, chief economist, Bank of Baroda. The gap between bank and non-bank sources widened to Rs 9 lakh crore for the 10 months ending January 2026. The gap was as narrow as Rs 2.5 lakh crore in 10-months ending January 2025. "The pickup in credit offtake reflects...

Former British ambassador to the U.S. Peter Mandelson has been arrested by London police on suspicion ‌of misconduct ⁠in ⁠public office. Mandelson, 72, was fired from the most prestigious posting in Britain's diplomatic service in September, when the depth of ⁠his friendship ‌with Jeffrey Epstein started to become ⁠clear. Police earlier this month began a criminal investigation into Mandelson after Prime Minister Keir Starmer's government passed on communications between the former ambassador ‌and Epstein. "Officers have arrested a 72-year-old man on suspicion ⁠of misconduct in public office," London's Metropolitan Police said in a statement relating to an investigation into a former government minister. from Economic Times https://ift.tt/4u0qUyn

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CAPE CANAVERAL: NASA's new moon rocket suffered another setback Saturday, almost certain to bump astronauts' first lunar trip in decades into spring. The space agency revealed the latest problem just one day after targeting March 6 for the Artemis II mission, humanity's first flight to the moon in more than half a century. Overnight, the flow of helium to the rocket's upper stage was interrupted, officials said. Solid helium flow is essential for purging the engines and pressurizing the fuel tanks. This helium issue has nothing to do with the hydrogen fuel leaks that marred a countdown dress rehearsal of the Space Launch System rocket earlier this month and forced a repeat test. NASA Administrator Jared Isaacman said a bad filter, valve or connection plate could be to blame for the stalled helium flow. Regardless of the cause, he noted, the only way to access the area and fix the problem is in the Vehicle Assembly Building at Kennedy Space Center. "We will begin pr...

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New Delhi: The Centre had directed drugmakers last month to add a blue line on the antibiotic packaging strips, seeking to curb the rampant use of these medicines. But pharma companies believe this step will instead hamper operations and cause financial disruptions.In January this year, the government had issued a notification, announcing, "all antimicrobial drugs and their preparations shall bear a conspicuous blue vertical strip on the left side running throughout the body of the label without disturbing the other conditions printed on the label".However, pharma associations have expressed their concern over the move, with many associations writing to the government urging it to withdraw the notification.The Himachal Drug Manufacturers' Association (HDMA) has written to the ministry of health, citing that the proposed packaging measure lacks scientific substantiation, global regulatory alignment, and proportional public-health justification, while imposing significant o...

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Mumbai: In a move that could support stronger credit expansion, the Reserve Bank of India (RBI) has restored the use of default loss guarantees (DLGs) for non-bank lenders, rolling back last year's curbs that had forced them to make higher provisions on loans sourced through fintech partners.Non-banking finance companies (NBFC) can now factor in DLGs when setting aside buffers for potential loan losses, provided the guarantee forms an integral part of the loan arrangement, the RBI said last week. The regulator also said lenders must update their loss estimates each time the guarantee is invoked, as the protection available reduces with every use.For NBFCs, this change reduces provisioning pressure, improves profitability, and frees up balance-sheet capacity for fresh lending. For fintechs, meanwhile, it would encourage greater loan origination. The revised framework takes effect immediately.128394142 "This is a significant relief for NBFCs like us that are engaged in digital l...

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New Delhi: Haryana is set to sharpen its industrial edge with a forward-looking framework designed to position the state as a global manufacturing hub. The policy promises capital subsidies, employment-linked incentives and tailor-made sectoral packages aimed at boosting competitiveness across industries.Framed as Make in Haryana for the World, the initiative reflects the state's intent to move beyond incremental growth and actively court large-scale investments in manufacturing, logistics and sunrise sectors.Amit Agarwal, Haryana's industries and commerce secretary, outlined how the new policy fits into a broader economic strategy anchored in scale, productivity, and prosperity at the summit.Haryana's economic fundamentals already provide a strong foundation, he said. With a gross state domestic product (GSDP) of $79 billion in real terms and an average annual real GDP growth of 6.8%, the state has demonstrated consistent performance. Despite accounting for just 1.3% of In...

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Mumbai: Foreign investors accelerated their selling in financial services in the second half of January, offloading ₹5,402 crore after having sold ₹3,190 crore in the first half. For 2025, outflows from the sector stood at ₹14,903 crore. "There are no serious valuation concerns in the financial services sector however, private banks did see some profit-booking as PSU banks outperformed on a relative basis," said Pankaj Pandey, head of Retail Research at ICICI Direct. Overall, overseas investors sold ₹29,056 crore across 15 sectors in the second half of January, shows NSDL data. In the first half, they had withdrawn ₹22,420 crore from 19 sectors. The healthcare sector saw outflows of ₹5,113 crore in the second half of the month. Foreign investors pulled out nearly ₹25,000 crore from the sector in 2025. Most pharma and healthcare companies with significant US exposure reported muted earnings this quarter, which could have influenced the selling, said Pandey. Global investors al...

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New Delhi: Vehicle registrations, a proxy for retail sales, increased 18% from a year earlier in January to 2.72 million units thanks to sustained demand after tax cuts last year and improved cash flows in rural markets.Passenger vehicle sales rose by 7.2% to cross the half million mark in registrations last month, two-wheeler and commercial vehicle registrations grew by 21% and 15%, respectively, showed data collated by the Federation of Automobile Dealers Association (Fada) from the government's Vahan portal. Tractor sales rose 23% in January. Demand for construction equipment though continued to remain under pressure, declining by 21% on a high base.Auto sales had remained modest for most of calendar 2025, prior to the cuts in goods and services tax (GST) with effect from September 22. This led to a drop in vehicle prices, sparking a sales spurt.128172478 "January has delivered a strong, broad-based start to the calendar year," said CS Vigneshwar, president, Fada. ...

New Delhi: A new study published in 'The Lancet Regional Health' says that glycated hemoglobin (HbA1c), a laboratory test commonly used in India for detecting type-2 diabetes, may not accurately reflect blood glucose levels. This suggests that it could misrepresent the true burden of diabetes in the country.The problem is higher in regions with high prevalence of anemia, hemoglobinopathies and red blood cell enzyme (G6PD) deficiency, according to the study."Relying exclusively on HbA1c can result in misclassification of diabetes status," said professor Anoop Misra, corresponding author and chairman of Fortis C-DOC Centre of Excellence for Diabetes. "Some individuals may be diagnosed later than appropriate, while others could be misdiagnosed, which may affect timely diagnosis and management. Similarly, monitoring of blood sugar status may be compromised." The review is based on extensive data and questions the reliance on HbA1c as a sole diagnostic or monitor...

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New Delhi: Spiralling healthcare costs in India have caught the attention of political leaders. With an aim to address the ever increasing out of pocket medical expenses, Member of Parliament (MP) Ajeet Gopchade has introduced the National Medical Pricing and Regulation Commission bill, 2026 that-seeks to establish an independent National Medical Pricing and Regulation Commission which will be empowered to fix, regulate and oversee medical charges, ensure mandatory public disclosure of approved rates, adjudicate complaints related to overcharging and enforce compliance through penalties and refunds."I have, respectfully submitted-the National Medical Pricing and Regulation Commission Bill, 2026 to further advance fairness, transparency, and affordability in healthcare for our countrymen," Gopchade told ET.The bill proposes to establish an independent National Medical Pricing and Regulation Commission, to be chaired by a retired Judge of the Supreme Court of India, with corres...

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Jaipur: A three-storey building collapsed in Rajasthan’s Kota on Saturday night, killing at least two people and leaving several trapped under the debris, an official said.The incident occurred in the Talwandi area, where a restaurant was operating in the building. Police and rescue teams rushed to the spot and launched a rescue operation.So far, five people have been pulled out from the rubble and shifted to a hospital, officials said. According to initial information, some customers and employees were present in the restaurant at the time of the collapse.&mdash; PTI_News (@PTI_News) BJP MLA Sandeep Sharma, who reached the spot soon after the incident said, "Prima facie, the reason appears to be that a nearby old building was dismantled, which may have led to issues with its foundation. We cannot reach a final conclusion yet. So far, 10 people have been recovered. The operation is ongoing and relief work is currently underway.”"There is a possibility that several people ...

India's imports from China declined across multiple sectors, including fertilisers, chemicals, iron and steel, and man-made yarn, in 2024-25, the commerce and industry ministry told Parliament. Mobile phone imports fell to ₹3,710 crore in 2024-25 from ₹48,609 crore in 2014-15. In contrast, mobile phone exports rose to over ₹2,05,017 crore in FY25 from ₹1,566 crore in FY15. "In 2024-25, a decline in imports from China was observed across several sectors compared to the previous year," Jitin Prasada said. In a separate reply, he said:"The government of India undertakes appropriate measures, from time to time, to address concerns raised by various stakeholders, including in matters relating to national interest." Prasada said. from Economic Times https://ift.tt/Z3gz6VI

With foreign ownership limits lifted and competition set to intensify, India's insurance sector is entering a new phase. In a conversation with ET, Life Insurance Corporation of India's CEO & MD R Doraiswamy discusses what the Insurance Amendment Act means, why insurance penetration is slipping, and how the state behemoth is expanding by focusing on the right product mix. Edited excerpts:What do you make of the recent changes to the Insurance Act, especially the clause that allows 100% foreign ownership?Two changes stand out: allowing 100% equity and enhanced regulatory powers. Both are in the right direction. If foreign ownership was a constraint for companies entering India, its removal opens the door for new players and expansion. When limits were raised from 49% to 74%, capital inflows were limited, so this move (100% FDI in insurance companies) could make a bigger difference. Stronger regulatory powers will also help protect policyholders. Overall, these are positive d...

Budget 2026 is a business-as-usual exercise that increases some outlays, announces some new schemes, corrects some duty perversions, contains the fiscal deficit, and undertakes to devolve resources recommended by the Finance Commission to states. It gets a thumbs up by normal standards.But these are not normal times. We are experiencing what Mark Carney at Davos called a rupture in the global order. Trump has demolished old certainties about geopolitical alliances and enmities. No erstwhile US ally - European, West Asian or Asian - can count on Marines rushing to their rescue in the event of hostilities that, just a year ago, would have triggered intervention by the world's most powerful military. Every nation is scrambling to enhance its capacity to defend itself.While never an ally of the US, India had grown accustomed to considering itself a partner, not just formally in a grouping like Quad but in a comprehensive campaign, in general, to pre-empt any military adventurism by Chi...

New Delhi | Bengaluru: PhD students at the Indian Institutes of Technology (IITs) are increasingly getting corporate job offers for high-end research and development (R&D), a shift from recruitment largely for teaching roles in the past. It is the result of the institutes boosting in-house R&D to develop innovative and competitive products, said professors at the IITs including Kharagpur, Kanpur, Guwahati, Roorkee and BHU.Companies such as Denso, Japan Meteorological Corporation, Caterpillar, Aditya Birla Science & Technology, Tata Steel, AMD, Google, Microsoft, Philips, Samsung, CDAC, Siemens, L&T and Qualcomm have recently hired PhD students from the IITs, according to the institutes.For the first time, two PhD students at IIT Kharagpur have received overseas job offers, both from Japan. In addition, a PhD student received an offer of a ₹1 crore-plus annual package. 127951042 "This year, hiring of PhD students in corporate R&Ds is a new trend. This is an effo...

New Delhi: The ET Now Global Business Summit 2026 will bring together global business leaders, innovators and policymakers in New Delhi on February 13-14, with discussions spanning capital markets, corporate leadership, infrastructure resilience and the future of growth.Among the headline speakers is David Schwimmer, chief executive officer of London Stock Exchange Group (LSEG), who leads one of the world's most critical financial market infrastructure providers at a time of rapid transformation in global finance.Under Schwimmer's leadership, LSEG has expanded its role across exchanges, data and analytics, and post-trade infrastructure, while pushing initiatives focused on transparency, resilience and the digitisation of capital markets amid shifting regulatory and geopolitical landscapes.127917094 Also speaking at the summit is Yann Le Pallec, president of S&P Global Ratings and chairman of the board of Crisil. A member of S&P Global's executive leadership team, Le...

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The budget has made an effort to simplify tax collection by proposing threshold and rate changes in tax collected at source (TCS), offering significant relief to overseas travellers, parents with children pursuing foreign education and those going for medical treatment.TCS on education and medical remittances has been lowered to 2% from 5%. Foreign tour packages will also attract a 2% rate instead of 5% (less than ₹10 lakh) and 20% (beyond ₹10 lakh).According to Adhil Shetty, CEO of BankBazaar, this will "ease upfront cash-flow pressure and improve affordability". While the ₹10 lakh threshold continues for education and medical remittances, it has been removed for overseas tour packages. For example, a family spending ₹15 lakh on a foreign holiday would earlier pay ₹3 lakh (20%) as TCS, which now falls to ₹30,000. Similarly, if the spending was ₹8 lakh, The TCS would have been ₹40,000 (5%) compared to just ₹16,000 now. Another key change affects property transactions when res...

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