'SWAMIH fund helps deliver 61,000 flats across 110 housing projects'
INDIA BUSINESS | Thu, 8 Jan 2026, 11:52PM IST
In a remarkable turnaround, a government initiative has breathed life into 61,000 homes across 110 previously stalled projects. The SWAMIH Fund has unleashed over 37,400 crore worth of capital for 127 ventures, catalyzing the creation of thousands of jobs and boosting public revenue.
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China Is Investigating Metas Acquisition of the AI Start-Ip Manus
GLOBAL NEWS | Thu, 8 Jan 2026, 11:49PM IST
Regulators said they will look at whether the deal for Manus, a Singapore start-up with Chinese roots, complied with Chinas export and investment rules.
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No road tax on factory, mine machinery: Supreme Court
INDIA BUSINESS | Thu, 8 Jan 2026, 11:42PM IST
The Supreme Court has ruled that heavy industrial and construction machinery like dumpers and excavators, used within factories and mines, are not motor vehicles and thus exempt from road tax. This decision overturns a 2011 Gujarat High Court judgment, clarifying that vehicles designed for closed premises are outside the Motor Vehicles Act's purview.
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CCI defends global turnover-based penalty law in Apple antitrust case
INDIA BUSINESS | Thu, 8 Jan 2026, 11:40PM IST
In its lawsuit, Apple said the law, which reflects practice in the European Union, could lead to disproportionate fines for breaches that happened only in India
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India's economy likely to grow 6.6% in FY27 despite higher US tariffs: UN
INDIA MARKET | Thu, 8 Jan 2026, 11:35PM IST
The statistics ministry on Wednesday estimated the economy to grow 7.4 per cent in 2025-26
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US quits India-led International Solar Alliance
INDIA BUSINESS | Thu, 8 Jan 2026, 11:29PM IST
The United States is withdrawing from 66 international organizations, including the India-led International Solar Alliance, following President Trump's executive order. The administration cited that these bodies are contrary to American interests, national security, economic growth, and sovereignty. This move impacts UN and non-UN entities, with experts noting a lack of focus on renewables and climate change by the current administration.
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India to grow at 7.2% in 2025-26 with overall U.S. tariff impact to be offset, U.N. body predicts
INDIA BUSINESS | Thu, 8 Jan 2026, 11:20PM IST
While the U.S. tariffs could impact growth if they persist, several other factors such as demand from Europe and the Middle East could offset the blow, the report said.
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Early IIT placements show green shoots; AI, tech in demand
INDIA BUSINESS | Thu, 8 Jan 2026, 11:17PM IST
Leading Indian Institutes of Technology (IITs) have reported a positive start to their 2025-26 campus placement season. An increase in job offers, particularly pre-placement offers, wider recruiter participation including first-timers, and stronger compensation trends highlight a gradual pick-up in recruiter sentiment, driven by demand for technology, data, and AI roles.
Continue reading at Economic Times
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Stronger recruiter turnout; AI, data roles boost IIT Phase 1 placements
INDIA BUSINESS | Thu, 8 Jan 2026, 11:17PM IST
Leading Indian Institutes of Technology (IITs) have reported a positive start to their 2025-26 campus placement season. An increase in job offers, particularly pre-placement offers, wider recruiter participation including first-timers, and stronger compensation trends highlight a gradual pick-up in recruiter sentiment, driven by demand for technology, data, and AI roles.
Continue reading at Economic Times
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Eternal gets two GST demand orders worth 27.56 crore, plans to appeal
INDIA BUSINESS | Thu, 8 Jan 2026, 11:11PM IST
Eternal, the parent entity of Zomato and Blinkit, on Thursday received two Goods and Services Tax (GST) demand orders amounting to over Rs 27.56 crore, including interest and penalty.
The orders passed by the Additional Commissioner of State Tax (Appeals), West Bengal, have been received with respect to short payment of output tax for the period between April 2020 and March 2022.
The company will file an appeal against the order before the appropriate authority.
"This is to inform that the Company has received two orders on 8 January 2026 for the period April 2020 to March 2022 passed by Additional Commissioner of State Tax (Appeals), West Bengal, confirming total demand of GST of Rs 16,72,34,030 with interest of Rs 9,16,48,814 and penalty of Rs 1,67,23,404," Eternal informed in a regulatory filing.
We believe that we have a strong case on merits, which is backed by opinions from our external legal and tax advisors. The Company will be filing an appeal against the order before the
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Coal India arm BCCL raises 273 crore from anchor investors ahead of IPO
INDIA MARKET | Thu, 8 Jan 2026, 10:59PM IST
Bharat Coking Coal Ltd (BCCL), an arm of Coal India, on Thursday said it has mobilised over Rs 273 crore from anchor investors, a day before the opening of its initial public offering (IPO).
Major anchor investors include Life Insurance Corporation of India, Bandhan Mutual Fund, Nippon India Mutual Fund and UTI Mutual Fund, according to a circular uploaded on the BSE's website.
Additionally, foreign funds like Citrine Fund, Copthall Mauritius, Societe Generale ODI and Maybank Securities were also allotted shares, the circular showed.
Bharat Coking Coal has allocated 118,753,500 equity shares to anchor investors for Rs 23 per share. This aggregates the fundraising to Rs 273.13 crore.
The company's Rs 1,071-crore initial public offering (IPO) will open on January 9, marking the first public issue of 2026. The issue will close on January 13.
The price band has been fixed at Rs 21 to Rs 23 per share, and at the higher end, the company is valued at over Rs 10,700 crore.
According to t
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INDIA BUSINESS | Thu, 8 Jan 2026, 10:58PM IST
BCD Global, the international arm of India's BCD Group, has returned to the Middle East. Dubai is now its regional headquarters. The company aims for AED 300 million in revenue by early 2026. This strategic expansion targets institutional-grade developments across the UAE and GCC. Saudi Arabia is a key focus for future growth.
Continue reading at Economic Times
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Oil prices gain 2% as market focuses on Venezuela and supply worries in Russia, Iraq and Iran
INDIA BUSINESS | Thu, 8 Jan 2026, 10:50PM IST
Oil prices climbed nearly 2% as investors weighed escalating U.S. sanctions on Venezuela, a drone attack on a Russia-bound tanker in the Black Sea, and Iraq's nationalization of the West Qurna 2 oilfield. The U.S. seized two Venezuela-linked tankers, while concerns over supply disruptions from Russia, Iraq, and Iran contributed to the market's upward movement.
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Textile, apparel exports hit by US tariffs: Industry tells Parliament panel
INDIA BUSINESS | Thu, 8 Jan 2026, 10:49PM IST
Indian textile exporters foresee a significant drop in orders. A 50% decline is expected in early 2026. This follows steep US tariffs imposed earlier. American buyers are seeking alternative suppliers. Exporters face reduced price competitiveness and supply chain issues. Diversification efforts are underway but face challenges. The industry awaits government relief measures.
Continue reading at Economic Times
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Excel Entertainment deal to boost pan-diaspora storytelling: Universal
INDIA BUSINESS | Thu, 8 Jan 2026, 10:27PM IST
Universal Music India has acquired a 30% stake in Excel Entertainment, betting on film music and pan-diaspora storytelling to drive its next phase of growth
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Reserve Bank of India mulls fresh steps to provide relief to exporters
INDIA NEWS | Thu, 8 Jan 2026, 10:21PM IST
Earlier this week, US President Donald Trump warned that tariffs could rise further unless India curbs its Russian oil imports, escalating the pressure as trade talks between the two countries drag on
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Govt unveils District-Led Textiles Transformation initiative
INDIA BUSINESS | Thu, 8 Jan 2026, 10:19PM IST
The Textiles Ministry has launched the District-Led Textiles Transformation initiative to develop 100 districts as global export champions and 100 aspirational districts into self-reliant hubs. This data-driven strategy categorizes districts to address specific bottlenecks, focusing on advanced upgrades for champions and foundational ecosystem building for aspirational areas, with a special emphasis on the east and northeast.
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INDIA MARKET | Thu, 8 Jan 2026, 10:18PM IST
Market expert Gurmeet Chadha has raised concerns about unverified news spreading on social media. He warns that such information, especially around market expiry days, can lead to chaotic trading and pose risks to the entire financial system. Chadha highlighted recent false reports about Russian oil shipments and Chinese contractors.
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INDIA NEWS | Thu, 8 Jan 2026, 10:18PM IST
Market veteran Gurmeet Chadha has raised concerns over the growing spread of unverified or source-based news, especially on expiry days, warning that such disinformation can trigger disorderly market movements and pose systemic risks.In a post on X, Chadha pointed to a series of market-moving claims that surfaced this week, including reports about sanctioned Russian oil shipments to India and Chinese contractors being allowed to bid for government contracts. He noted that these reports were circulated by global social media handles, often citing unnamed sources.Chadha also flagged claims that former US President Donald Trump had approved 500% tariffs on India, calling them misleading. Too much disinformation, he said, adding that such rumours tend to surface frequently around weekly or monthly derivatives expiry sessions, amplifying volatility."Tuesday News on sanctioned Russian oil headed to India. Today on Chinese contractors being allowed to bid for Govt contracts. All by global handles & quoting some sources.. Also usually such news comes on weekly/ monthly expiries. Some handles spoke of 500% tariffs approved on India by Trump. Too much of disinformation...," the Complete Circle Consultants' Managing Partner and CIO said.Shares of Bharat Heavy Electricals (BHEL) and other capital goods plunged up to 14% on Thursday following a media report that said that the Ministry of Finance plans to scrap five-year-old restrictions on Chinese firms bidding for government contracts. Reuters reported, citing two sources, that the move may come as the government seeks to revive commercial ties with the dragon nation amid eased diplomatic and border tensions.Read more: BHEL, ABB, L&T plunge up to 14% after report says govt may scrap curbs on Chinese companiesTo address the issue, Chadha suggested that the government should consider setting up an official social media handle to communicate promptly and counter false or misleading information. Such a mechanism, he said, could help clarify facts in real time, improve transparency and reduce the scope for panic-driven trading."Suggest govt shud have a SM handle to communicate & tackle this.. can create disorderly movements & eventually systemic risks..," Chadha said.
(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)Tuesday News on sanctioned Russian oil headed to India
— Gurmeet Chadha (@connectgurmeet) January 8, 2026
Today on Chinese contractors being allowed to bid for Govt contracts
All by global handles & quoting some sources.. Also usually such news comes on weekly/ monthly expiries
Some handles spoke of 500% tariffs approved on
Continue reading at Economic Times
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West Bengal EC says overseas voters need not attend SIR hearings in person
INDIA MARKET | Thu, 8 Jan 2026, 10:16PM IST
The clarification comes a day after reports emerged that Nobel laureate Amartya Sen had been directed to appear in person as part of SIR proceedings to clarify a point regarding his age
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Hartek Power bags 353.77 crore solar-plus-storage project in Karnataka
INDIA BUSINESS | Thu, 8 Jan 2026, 10:13PM IST
Hartek Power on Thursday said it has secured a major renewable energy contract worth Rs 353.77 crore for a solar project with a battery energy storage system in Karnataka.
The company has been awarded the EPC (engineering procurement construction) scope for a 280 MW AC / 410 MWp DC solar PV project, along with an 80 MW / 320 MWh battery energy storage system at Challakere, a company statement said.
The scope of work includes design, engineering, supply, erection and commissioning of the project, along with one year of operations and maintenance. The total purchase price for the signed and agreed scope is approximately Rs 353.77 crore, it added.
Battery energy storage systems are emerging as a critical enabler for managing intermittency in solar power and supporting round-the-clock energy availability.
Simarpreet Singh, Executive Director and CEO, Hartek Group, said, "This project reflects the growing maturity of India's renewable energy market, where solar generation and storage ar
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Railways aims for 52 reforms in 2026
INDIA BUSINESS | Thu, 8 Jan 2026, 10:12PM IST
Indian Railways plans 52 reforms in 2026, focusing on safety, AI, advanced technology, and workforce training to enhance passenger service. The national transporter has significantly reduced consequential train accidents and aims for single-digit figures, alongside a major upgrade in food and catering services.
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BMW to launch three new EV models in India to boost sales
INDIA BUSINESS | Thu, 8 Jan 2026, 10:02PM IST
The carmaker, which sold about 18,000 units in 2025, is already nearing that goal. EVs made up 23% of the sales for the three months ended Dec. 31
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BMW to launch three new EV models in India to boost luxury sales
INDIA BUSINESS | Thu, 8 Jan 2026, 10:02PM IST
The carmaker, which sold about 18,000 units in 2025, is already nearing that goal. EVs made up 23% of the sales for the three months ended Dec. 31
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Railway Minister Ashwini Vaishnaw announces 52 reforms in 52 weeks for 2026
INDIA BUSINESS | Thu, 8 Jan 2026, 9:52PM IST
Railway Minister Ashwini Vaishnaw has unveiled a significant plan for Indian Railways. The initiative, '52 Reforms in 52 Weeks', will commence in 2026. This ambitious program aims to enhance infrastructure, improve passenger amenities, and boost operational safety. Key focuses include leveraging AI, upgrading training, and revamping catering services. The goal is to achieve a single-digit accident rate.
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Bata India board approves VRS for workers at Hosur manufacturing unit
INDIA BUSINESS | Thu, 8 Jan 2026, 9:49PM IST
Bata India Ltd on Thursday said its board has approved the introduction of a Voluntary Retirement Scheme (VRS) for all eligible workers at the Bata Shatak manufacturing unit in Hosur in Tamil Nadu, as part of its ongoing operational restructuring.
In a regulatory filing, the footwear major said the VRS is expected to be "mutually beneficial" for both employees and the company. The status of implementation and the financial impact of the scheme will be assessed and disclosed later in line with its materiality policy.
Bata India has been consolidating its manufacturing footprint over the years amid cost pressures and changing market dynamics. The company had earlier implemented VRS at multiple units, leading to closures.
Its Faridabad unit in Haryana was shut in 2016 after all workmen opted for VRS, while a unit in Karnataka was closed following a VRS implemented in the past.
With the proposed VRS at Hosur, Bata India continues to rationalise its factory operations, even as it retain
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Oberoi Realty, Shree Naman in race for Railways 11-acre land in Mumbai's Bandra
INDIA BUSINESS | Thu, 8 Jan 2026, 9:49PM IST
Oberoi Realty and Shree Naman Developers are eligible bidders for a prime 11.21-acre railway land parcel in Mumbai's Bandra. The Railway Land Development Authority set a reserve price of Rs 5,365 crore for the land. This is the third land parcel monetised by RLDA in Mumbai recently.
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German firm Remmers to pick up 50.1% stake in Teknovace for 300 crore
INDIA BUSINESS | Thu, 8 Jan 2026, 9:46PM IST
JV to tap into Indias $1.3 billion domestic wood coatings market, position Indian unit as a global export base
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