Sean Duffy Asks Travelers to Bring Civility Back to Airports in New PSA
GLOBAL NEWS | Sat, 22 Nov 2025, 1:04AM IST
The secretary of transportation kicked off a new civility campaign on Wednesday called The Golden Age of Travel Starts With You.
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VIP Industries to sell Mumbai property to promoter-group firm for 40.7 crore
INDIA BUSINESS | Sat, 22 Nov 2025, 12:54AM IST
VIP Industries is selling its Mumbai property, VIP House, to Kemp & Company. The deal is valued at 40.71 crore. This transaction is considered a related-party deal but is not material. Shareholder approval is required for Kemp & Company. VIP Industries holds a small stake in Kemp & Company. The sale is on an as-is-where-is basis.
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Mighty Android slips a bit as users upgrade during festivals
INDIA BUSINESS | Sat, 22 Nov 2025, 12:50AM IST
Apple's iPhones are gaining ground in India, taking market share from Android phones. This trend is driven by Apple's focus on volume and accessible financing. Android brands are facing declining sales as consumers opt for iPhones. Apple's premium segment dominance is growing, with significant shipment increases. The overall smartphone market remains stagnant.
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Pharma Industry warns minimum import prices plan could raise drug prices, hurt MSMEs
INDIA BUSINESS | Sat, 22 Nov 2025, 12:47AM IST
Pharma experts have flagged concerns over the governments plan to set minimum import prices (MIP) for key drug ingredients such as Penicillin-G, 6APA and amoxicillin. They warn this will raise manufacturing costs, increase medicine prices and hurt over 10,000 MSMEs, potentially causing major job losses.
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TV broadcasters plan legal response to Trai advertising cap notice
INDIA BUSINESS | Sat, 22 Nov 2025, 12:39AM IST
TV broadcasters are preparing legal responses to Trais show cause notices over non-compliance with the 12-minute-per-hour ad cap. Industry bodies IBDF and NBDA are assessing options, calling the notices premature as the issue is before courts.
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GoI to revamp GDP series, seeks industry input
INDIA NEWS | Sat, 22 Nov 2025, 12:38AM IST
The new gross domestic product (GDP) series is set for a major revamp, with the government introducing changes such as imputation of value of government provided housing, inclusion of Limited Liability Partnerships (LLPs), and revised deflators for sectors like mining, financial services, and real estate.For the estimation of non-financial private corporate sector, multi-activity firms will no longer have their entire output attributed to a single major line of business; instead, activity-wise turnover reporting in company filings will be used to split output and gross value added (GVA) across segments, according to a discussion paper issued by the statistics ministry on Friday. To measure the unincorporated sector, the new series will calculate GVA directly each year using productivity data from Annual Survey of Unincorporated Sector Enterprises (ASUSE) and workforce estimates from the Periodic Labour Force Survey (PLFS). This would replace the earlier method that relied on decade-old workforce and enterprise surveys and extrapolation of those figures. The new GDP series, with base year 2022-23, will be released on February 27, 2026, replacing the current 2011-12 base. The new series will use more granular data, driven by the availability of administrative datasets and annual enterprise surveys. The financial sector will also see a revision, with Statistical Tables Relating to Banks in India being used for deposit-taking institutions, Ministry of Corporate Affairs (MCA) data for private NBFCs, and ASUSE and All India Debt & Investment Survey (AIDIS) 2019 informing better estimates for moneylenders and insurance agents. The general government sector will undergo a shift in treatment of pension, with pension liabilities now imputed to reflect the transition from the Old Pension Scheme to the National Pension System, replacing treatment of annual pension outgo as current-period entitlement. The ministry of statistics and programme implementation (MoSPI) is also expanding the coverage of autonomous and local bodies. Other updates include revised input-output ratios for marine and inland fisheries, new rates for estimating fodder output, and updated repair and maintenance costs for dwellings based on AIDIS 2019. This is the first of two planned discussion papers, focused on changes to the production/income approach. The next paper will outline revisions on the expenditure side. MoSPI has invited feedback from experts, government bodies and financial institutions on the proposed methodology by December 10.
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Tech, electronics firms back codes, but worry about costs
INDIA BUSINESS | Sat, 22 Nov 2025, 12:34AM IST
New labor codes are now in effect. They promise better wages and safety for electronics manufacturing workers. Increased investment and a skilled workforce are expected. Simplified rules and social security benefits will boost competitiveness. This modernizes labor laws, aligning India with global standards. The changes support workforce mobility and attract tech services.
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Kokuyo bets big on India as office demand surges
INDIA BUSINESS | Sat, 22 Nov 2025, 12:34AM IST
Japans Kokuyo says India has become its top global priority market as rapid office construction and rising workplace investments drive strong demand. Masahiro Fukui, the companys global managing officer, said full office setups in India are completed within 7590 days a speed rarely seen elsewhere. Overseas investment after the pandemic has accelerated this trend, with global companies upgrading workplaces to attract talent.
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Thousands of French Brands Sue Shein, Accusing It of Unfair Competition
GLOBAL NEWS | Sat, 22 Nov 2025, 12:32AM IST
The class-action lawsuit is the latest push against the Chinese retailer in France, where protests outside its first store broke out earlier this month.
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Labour code: PF contributions may go up
INDIA NEWS | Sat, 22 Nov 2025, 12:32AM IST
New Delhi: Provident fund and gratuity contributions are expected to increase with the Code on Wages mandating that the basic salary of employees must be at least 50% of their total cost-to-company (CTC) or the percentage notified by the government. Since PF and gratuity are calculated on the basis of basic salary, a higher basic pay will result in increased contributions from both the employee and the employer. While this will enhance the mandatory retirement savings for employees, increased outgo towards PF and gratuity from the same CTC will weigh on take-home salaries. The Code on Wages came into effect on Friday, though the government will notify the rules only in the next 45 days. Establishments will have to align their salary structure as detailed in the rules. This provision on basic salary has been introduced to prevent companies from deliberately keeping the basic pay low while enhancing allowances to minimise their contribution to retirement funds and gratuity. The PF contribution is calculated at 12% of the basic salary. Gratuity payment depends on the final basic salary and the number of years worked at a company. The new provisions will likely result in a lower take-home salary for employees as provident fund and gratuity contributions would rise within the given CTC, said experts. "The new labour codes unify the definition of 'wages' under the Code on Wages and Social Security. This would mean better retirement security through higher gratuity and provident fund but a possible dip in take-home pay if employers restructure allowances downward to offset costs," said Suchita Dutta, executive director of the Indian Staffing Federation. The uniformity in definition across labour codes would mean consistency in calculation of social security benefits. "Wages now include basic pay, dearness allowance and retaining allowance; 50% of the total remuneration (or such percentage as may be notified) shall be added back to compute wages, ensuring consistency in calculating gratuity, pension and social security benefits," said Anjali Malhotra, partner at professional services firm Nangia Group. Puneet Gupta, partner, People Advisory Services at EY India, said the roll-out of the labour codes could lead to higher gratuity as it will be calculated on "wages", which would include basic salary and all allowances except HRA and conveyance allowance.
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RBI Announces Interlinking Of UPI With European Instant Payment System
INDIA MARKET | Sat, 22 Nov 2025, 12:28AM IST
The RBI has been actively pursuing interlinking of UPI with fast payment systems of other jurisdictions.
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US sanctions Maharashtra's RN Ship Management for alleged Iranian oil shipments
INDIA BUSINESS | Sat, 22 Nov 2025, 12:16AM IST
"As of early 2025, India-based RN Ship Management Pvt Ltd, led by Indian nationals Zair Husain Iqbal Husain Sayed and Zulfikar Hussain Rizvi Sayed, served as the operator of multiple vessels used by Sepehr Energy Jahan to ship Iranian oil, including the sanctioned vessel SOBAR," the US Treasury said.
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Tata Power to invest Rs 1,572 crore in Bhutan's Dorjilung project
INDIA BUSINESS | Sat, 22 Nov 2025, 12:13AM IST
The project will be implemented through a special purpose vehicle (SPV), owned 60% by DGPC and the remainder by Tata Power. Tata Power will be investing about 1,572 crore in tranches, as per the agreed structure.
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Rupee breaches the 89.5 per dollar-mark intraday, hits fresh low
INDIA NEWS | Sat, 22 Nov 2025, 12:03AM IST
RBI's absence in the market may be behind the sharp fall
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'Households allocating greater share of monthly bill to non-food spending'
INDIA NEWS | Fri, 21 Nov 2025, 11:59PM IST
Households are now allocating a greater share of household consumption expenditure to non-food spending on consumables and services, and durable goods, according to a working paper of the Economic Advisory Council to the Prime Minister (EAC-PM).
EAC-PM in a working paper titled 'Changes in Durable Goods Ownership in India: Analysis of the Household Consumption Expenditure Survey 2011-12 and 2023-24' on Friday noted that the share of of the monthly per capita expenditure (MPCE) spent on durables has risen in both rural and urban areas, with the rural share slightly surpassing that of urban households in many states.
Further, in absolute values (rupees), spending has increased across all states and sectors, with higher absolute expenditure in urban households.
"Consequently, a greater share of household consumption expenditure is now non-food spending on consumables and services, and durable goods. Consumables and services are the largest component of household spending in urban areas
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Tejas gear disrupting network in Rajasthan, alleges Bharti Airtel
INDIA BUSINESS | Fri, 21 Nov 2025, 11:40PM IST
Bharti Airtel has lodged a complaint against Tejas Networks. Airtel alleges that Tejas' equipment is causing interference with its network in Rajasthan. This issue has been ongoing since last December. Airtel claims the problem stems from Tejas' radio equipment and filter design not aligning with India's frequency plan.
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IAF pilot dies as Tejas jet crashes during display at Dubai Airshow
INDIA MARKET | Fri, 21 Nov 2025, 11:33PM IST
Second known peacetime incident involving Indian-made combat jet
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INDIA BUSINESS | Fri, 21 Nov 2025, 11:31PM IST
Samsung has witnessed an extraordinary 25% increase in exports from India, reaching a staggering 45,930 crore. This phenomenal growth illustrates the rising stature of India as a crucial hub for the electronics titan. Although domestic sales have only seen slight improvements, the boost in exports has significantly contributed to Samsung India's revenue streams.
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CAG launches nationwide audit to assess ease of doing business for MSMEs
INDIA BUSINESS | Fri, 21 Nov 2025, 11:29PM IST
The Comptroller and Auditor General of India is auditing the ease of doing business for micro, small, and medium enterprises. This audit will assess government reforms and their effectiveness. The report is planned for submission in Parliament in 2026. The goal is to improve policy for MSMEs, a key economic driver.
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Uneasiness Over A.I. Spending Looms Over Markets
GLOBAL NEWS | Fri, 21 Nov 2025, 11:17PM IST
After stocks briefly rallied on Nvidias strong earnings, investors growing concerns of an A.I. bubble have returned, driving broad market swings.
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INDIA BUSINESS | Fri, 21 Nov 2025, 10:41PM IST
FSSAI has asked states and Union Territories to immediately remove fruit-based drinks, ready-to-serve beverages, electrolyte drinks and energy drinks being sold under brand names containing the term ORS from retail shelves and e-commerce platforms, sources said.
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