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INDIA BUSINESS | Wed, 4 Feb 2026, 1:44AM IST ChrysCapital has acquired a significant minority stake in Nash Industries. This Bengaluru-based company provides design and manufacturing solutions. The deal values Nash Industries at approximately 6,000 crore. Nash Industries operates 15 manufacturing facilities across South and West India. This investment highlights ChrysCapital's focus on manufacturing businesses. The partnership aims to accelerate Nash Industries' growth and technological capabilities.

Continue reading at Economic Times

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INDIA NEWS | Wed, 4 Feb 2026, 1:27AM IST Indian exporters stand to gain from reduction in US tariffs and trade agreement with the EU, which will also help attract investment, finance minister Nirmala Sitharaman said in an interview with ET. Edited excerpts:Do you see this as India's Goldilocks moment, with reforms at home and now geopolitical realignment in place with the India-US deal?The reduction in tariffs, which was announced on Monday, is a very big development for our exporters. The rate of 18% that has been offered is comparable with many of our competitors. This can immediately help our exporters.Do you expect it to have a positive impact on the direction of the rupee?That there is a positive movement towards India in terms of reduction in the rate of the tariff sets signals that the relationship is on an uptick and that can certainly influence decision-making of equity and fund flows into India.The outflow of FII money and rupee depreciation have been a concern lately. Do you think this will play a significant role in reversing both?It will play a role. How significant, how less significant, maybe too much to play on words. But that there is an uptick in relationship, and as a result of which the tariff reduction has happened, itself opens up fresh avenues.Top personal income tax changes in Budget 2026India has been aspiring to become a part of global supply chains. With the FTA with the EU and an agreement with the US in place, how do you see this strategy playing out?I think together with it, you should also add the tweet which Elon Musk made two days ago, which said China at 26% and India at 17%, adding to the global GDP growthmeaning 43% of all GDP growth of the world is coming from these two countries. This actually draws India to the centre stage. China, at 26%, will not surprise anybody. But India, contributing 17%, getting recognised at that level, actually pitches the country at adifferent level altogether. I would think these are the winds of change. Big investors normally see the weathervane, which direction is it. They wouldnt want to risk... by going into a destination which may not be favoured. But here is a weathervane which is telling you India, together with China, is contributing so much to the growth. You cannot ignore these two. Now, with this conversation of last night (US tariff reduction), there is a clear indication in which way fund flows will also rejig.It has been true for a while that India is a rare island of growth among large economies. Therefore, isnt it incongruent that were seeing FII outflows and somewhat anaemic FDI. Do you find this perplexing?No, it is a matter of reality. You observe that despite your strong macroeconomic fundamentals, despite your debt to GDP clearly coming downand also not that kind of a number, 200% of your GDP, 180%, 123%, which many developed countries havethe fund flows don't seem to happen. There are other probable strategic reasons which are also influencing decision-making. That is why, despite your economy doing well, fastest growing, we're talking about why investments are not coming here. Of course, those who went out, went out after booking profits. But the ones who have to come also, probably, are looking at the weathervanes.Also Read: Tariff cut to open door wider for exports, lift rupee, fund inflows: Nirmala SitharamanHave ease-of-doing-business and regulatory reforms for foreign investors actually delivered on the ground to enable them to come in, especially compared with competitors like Vietnam?Yes. You also see in this budget that the transfer pricing arrangements are being made simpler. Advance authorisation is being made simpler and offers certainty. Steps are being taken both for simplifying the process and ease of doing business. Customs laws are also being simplified. Compliances are being eased, and we now want to move to a completely mechanised scanning process for goods to remove individual discretion. We are moving in that direction. I think we have really taken quite a few such steps in this budget as well. There are measures as well that impact the individual. We have removed the cap on courier exports. We have relaxed baggage rules. Part B of my budget this time carries a number of such steps that give certainty on taxation for the next 20-25 years. These kinds of steps were never taken in India.All of these measures, along with the external tailwinds that we are now receiving are you hopeful that private capex itself will begin to improve?There are clear signs already. They were moving towards sectors which had a lot of support, PLI, and so on, all the missions, the quantum mission, the ammonia, green ammonia missions, so on. Now I think there will be opportunities opening up because export possibilities have become of a big magnitude.The PLI scheme has been successful in electronics manufacturing, to a lesser extent in some of the other areas. Can we really spur manufacturing only with the help of the PLI schemes, or do you think that in some areas it can happen even without it?Manufacturing will be the base on which we are expecting to give an impetus to growth. There is manufacturing through the large scalable bulk production, which are supported by PLI, electronics, or the phones, or these chips, semiconductor, different levels, assembling, packaging, design. All that in one goal, scalable, big, replicable, supported by PLI. The other side of manufacturing, which we want to support, is like the way we've done in the last three budgets, create MSME (micro, small and medium enterprise) champions. (Earlier) we did it for MSMEs at large.This time we want to make champions out of medium enterprises. Forty percent of Indias export is dependent on MSMEs. So, for them, I said three things, I will give equity support, liquidity support, and professional support. Why do I have to do this? The medium never wants to become big because it fears it will lose out on the benefits that it has as an MSME. So, we are saying, no, please, you become big. Well still give you all the supportequity, professional, liquidity, and so on. So that they dont hesitate to grow. Otherwise, they remain like dwarfs, which is not the idea. What happens to those MSMEs, which are in the legacy clusters? These clusters are bursting at their seams. No way they can expand, or upgrade, bring in AI, robotics, IoT. So, we said 200 legacy clusters, well do the upgradation. So manufacturing, visualise it through PLI big ones, which can be scaled up, which export and bring in big namesApple or any other large semiconductor manufacturer. The other side, contributors already of 40% of Indias exports, are the MSMEs. So, we are looking at manufacturing for both these.There are seven strategic sectors identified in the budget. Thats why biopharma. You know, things have been brought into it to say not just electronics, not just semiconductors. What you need for lifetime, next 50 years, India should be a leader of pharma by becoming the leaders in biosimilars. These are highly potential areas for the future.India's Counterstrike: Budget 2026 arms India with plans to blunt out Trump's tariff attackThere is also a plethora of regulations at the state level. The deregulation task force headed by the cabinet secretary has made a number of recommendations to the states. What has been their response?Some states have moved. We will have to wait and see now. Its also a question of the new Finance Commission cycle. Conversations will start after that.On GCCs, you announced a number of measures, including matters like transfer pricing and safe harbour. Were these in response to feedback from the industry?These were very much in response to the industry feedback. Weve come up with timely relaxations and well keep that momentum going.On the tax holiday for data centres and so on, Indian tech companies and data centres have said this skews the playing field.No, it doesn't skew. If they are global companies themselves and they have businesses outside, they also have a business here. Therefore, the treatment is not going to be skewed, but obviously we need them to approach, saying, Im establishing a centre, Im also a global player from there, Imight get some things here, I might want to use it. The same principle applies.So as long as youre providing service to a global audience, you can...Not only providing, but also making business work here.The budget ticks many boxes in manufacturing, services, women employment, MSMEs, tech investment, among others. The industry has said execution is the key. Will the government be able to ensure quick implementation?Departments will have to move faster. Theres a keenness now, I can see it. Even with the preparation of the budget, they were all very keen to come and meet and give inputs and insist on how viable their projects are and so on. So, I guess that enthusiasm will continue.IndiaUS trade deal: The elephant in the room everyone is watchingIs there revenue conservatism in terms of about 7% growth seen in FY27 against a projected 10% nominal GDP?I have always been realistic.On the STT increases, you were categoric that its been done to curb speculation. Do you think more needs to be done on this front?I'm not using it for revenue. Plain and simple addressing the issue, which many people expressed to us. Parents, elders, all are saying this is becoming a big issue. People have literally lost huge sums. So, this is more for a deterrence, not for revenue generation. And I don't see anything more.Would it require more measures going forward?No, from my side, I cant say anything more. Its for the regulator, if necessary.Given the immediate slump, did you feel the markets hadnt understood what you were trying to do and that it was a premature reaction?I certainly thought that if they got to know the real thing behind it and the full compass of what we have done, that we have not touched other STTs, it was only in futures and options, they will understand why we did that. And thats come out right because the markets have become fairly stabilised.Theres a ban on real money gaming, STT on speculative tradingboth of which Gen Z are interested in. And the Economic Surveys commentary on digital detox. When you take all of this together, a picture emerges that the government is somewhat concerned about how young people are spending their time in India...I would think its not just the Indian government, but most governments abroad. And look at the concern that the state governments are voicing about using social media among young, among adolescent children. Should it be, or should it not be? There's a discourse going on. So overall, we have reached a stage where people are questioning. How far? How much? Which is good. There should be a discussion.US-India trade deal: How revised tariff will boost exports while shielding farmsOne of the biggest challenges that you would have seen in your interaction with the students is the concern about jobs? While there is no one-shot solution, do you think weve done enough to create an environment in which we can expect faster job creation?Job creation is one thing. We are also creating an environment where people can themselves become entrepreneurs. The SHE (self-help entrepreneurs) marts that we have announced in the budget is one such thing, where we want self-help group mahilas to come out and be an entrepreneur for which we give the training, for which we do the marketing. We are with them for branding and so on. The National Rural Livelihood Mission (NRLM) together with the SHE, creates such a buoyancy on the ground that people would want to be entrepreneurs because we will be giving them the skills and necessary support. Governmentsanctioned posts are not being left vacant and are filled promptly. And outside, were creating an environment where people can venture to be entrepreneurs.This year you have stayed away from big-bang announcementsBig-bang announcements under this government happen even beyond the budget, like GST.On taxation side, GST has been recast, corporate tax was cut earlier, personal income-tax rates have been reduced, there is a new Income Tax Act and the customs framework has been revamped. Is the countrys tax structure now globally benchmarked?Largely compatible, globally. It can always be one or two things that we still have to do. But the core matters have been addressed.AI is becoming a global arms race for supremacy, fundamentally between the US and China. And it requires a lot of resources. Companies are investing billions of dollars. What is our strategy? Can we really fund foundational models or GPUs, which are areas where investments are going into? Or, do you think well have to focus, as we are doing in this budget, on the overall ecosystem, and hope that the private sector and others will come up.No, we will be funding certain large or small language models. But one of the primary (areas of) focus would be on how to have AI come up with such tools, with which the ordinary mans life can be better, farmers can have more information about what they can do to improve yields.Similarly, in education, in far-flung areas where teachers availability is less, would it help them to have AI. Like that in every walk of life where it is possible with AI and robotics. Like in income-tax, (with) AI and deep tech, we are looking and tracing money flows and seeing where the evasion happens. So, for AI-based applications, where we need human intervention to operate and run it, we need to train people and get them into that business. Our priority is to be a leader in creating such platforms or tools with which globally India can be the supplier of such services, technology services. You have announced a committee for the banking sector. What is the thought behind that?Today, banks health is very good. Banks have overcome the problems they faced earlier. We are in a position of strength, but equally, we have a deadlineViksit Bharat by 2047. Funding our growth, funding individuals who want to make lives better. Aspirational Indians who want to become businessmen of their own standing. Also, Indias energy, security needs and Indias own requirement of extraction, mining, which are long tenure. You need Indian banks to be able to do all that, at that scale. So essentially (it will look at) what would be the necessary steps required from the government to prepare the entire banking system for these needs.The Finance Commission has introduced a 10% contribution to GDP and seems to be measured in the right direction in terms of addressing persistent complaints, especially from some of the southern states that contributions are greater. Do you think this will end that debate?Weve not heard anything on it.In your speech, you also mentioned a comprehensive review of foreign exchange management, non-debt rules. What exactly are you alluding to?We want to make these simpler. We want it to be transparent so that it doesnt become cumbersome for people to understand.You have announced restructuring of PFC and REC as part of Viksit Bharat vision for NBFCs. What will be the next steps? The finance ministry administers IFCI, IIFCL & NABFID. Would you at some stage also look at consolidating these entities for scale?Yes, but how, I am not clear yet.On the taxation side, a number of measures have been unveiled as part of ease of doing business and decriminalisation. Some reprieve is proposed under the Black Money Act, but in the normal course of things, when an individual gets a notice there is no closure leading to uncertainty. Any thinking on addressing this?Quite a lot of work is going on, not just related to Black Money Act, but in general, on tax-related matters. The emphasis is that we bring a dispute to a closure, dont allow it to fester. That is behind many things we are doing. Well continue to do that.One number that should probably give you satisfaction is that capital expenditure is more than the fiscal borrowing. So are we in the process of eliminating the revenue deficit.Yes, we will look at it. But at this stage, we are not committing anything. Well have to go, depending also on how revenue buoyancy can be improved. There was a recent Supreme Court judgement in Tiger Global case, with regard to benefits under the DTAA. This has created a lot of uncertainty that all deals can be questionedWe honour DTAAs. Im not commenting on the case per se. In general, tax abuse cannot be overlooked.So the finance ministry is in support of the idea that routing money through shell entities to take advantage of a DTAA is to be looked atWe have to act if detected, right? Im not saying Ill look the other way. Equally, there are going to be some cases which you dont detect. We actually want to make sure that no evasion or abuse happens. But when it has happened and when it is in your face, will you want to act on it or not? We are duty-bound to act.

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INDIA BUSINESS | Wed, 4 Feb 2026, 1:17AM IST Banks are poised to reopen credit lines for Indian export sectors following the US's reduction of import tariffs to 18%. This move is expected to quickly revive exports of garments, gems, jewelry, leather, and chemicals, leading to increased demand for bank loans. Public sector banks anticipate leading this export credit rebound in the coming quarters.

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INDIA NEWS | Wed, 4 Feb 2026, 1:17AM IST The U.S. trade deal gives hope that the tariffs ordeal may be over soon

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INDIA BUSINESS | Wed, 4 Feb 2026, 1:09AM IST Deutsche Bahn, Germany's national railway company, advocates for early integration of transport operators in India's infrastructure development, particularly for metro projects. The Delhi-Ghaziabad-Meerut Namo Bharat corridor serves as a model for future rapid rail corridors. DB is keen to participate in upcoming metro operations bids. This approach aims to enhance system performance, safety, and passenger experience for improved connectivity.

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INDIA BUSINESS | Wed, 4 Feb 2026, 1:06AM IST Indian medical device firms must now promptly report all adverse events, both serious and non-serious, to the government's Materiovigilance Programme. This directive aims to boost patient safety and address concerns over underreporting of issues linked to locally manufactured equipment. Timely reporting is crucial for identifying risks and implementing necessary safety measures.

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INDIA BUSINESS | Wed, 4 Feb 2026, 12:52AM IST Indian electronics manufacturers see renewed opportunities as the US reduces tariffs. This move positions India favorably against other Asian competitors for contract manufacturing. Companies like Dixon Technologies and Havells India anticipate significant export growth. Blue Star also expects to scale up its US exports. This development signals a positive outlook for India's manufacturing sector on the global stage.

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INDIA BUSINESS | Wed, 4 Feb 2026, 12:51AM IST India's gems and jewellery exporters anticipate a market rebound in the US. Recent US tariff reductions offer hope after a substantial drop in shipments. Diamond exporters await clarity on zero-duty benefits. The lab-grown diamond sector also looks to expand its US market share. This development is seen as a timely positive for the industry.

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INDIA BUSINESS | Wed, 4 Feb 2026, 12:50AM IST Reliance Industries Ltd has acquired a majority stake in Sikhya Entertainment, signaling a key trend of mergers and acquisitions in the film studio business for 2026. This move by RIL, through its subsidiary, strengthens Jio Studios and deepens its media and entertainment footprint. The partnership aims to leverage Sikhya's acclaimed creative pipeline for future film and web series productions.

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INDIA BUSINESS | Wed, 4 Feb 2026, 12:46AM IST India's REIT market is set for substantial growth, aiming for 25-30% of institutional real estate by 2030. This expansion will be fueled by new asset classes like data centers and logistics. The nation's office market shows resilience, with Global Capability Centres leading leasing. India anticipates over 2,400 GCCs by 2030, creating millions of jobs and boosting the economy.

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INDIA BUSINESS | Wed, 4 Feb 2026, 12:43AM IST The DGCA has cleared Air India's Boeing 787 Dreamliner fleet. Pilots reported issues with fuel control switches. However, the DGCA found no defects. They stated the switches operated correctly when handled as per Boeing's procedure. This follows a pilot report of switches moving to 'cut-off' instead of 'run'. The regulator confirmed the aircraft's safety after thorough checks.

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INDIA BUSINESS | Wed, 4 Feb 2026, 12:40AM IST The implications are far-reaching. For clients, marketing has become a boardroom issue. In an uncertain economic and geopolitical environment, every dollar or pound spent must justify itself. Advertisers are increasingly favouring partners who can demonstrate a clear link between creativity, data and business growth. Those who cannot do so are seeing budgets reduced or redeployed.

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INDIA BUSINESS | Wed, 4 Feb 2026, 12:36AM IST GIFT City's tax holiday extension to 20 years is set to significantly boost office space demand and commercial real estate development. This move provides fiscal certainty, encouraging longer leases and larger office commitments, reinforcing GIFT City's global competitiveness as a financial hub.

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INDIA BUSINESS | Wed, 4 Feb 2026, 12:36AM IST Indus Towers anticipates future revenue growth from 5G expansion, rising data usage, and international ventures in Africa and the UAE. The company confirmed stable customer payment flows, with no overdue receivables from Vodafone Idea, and noted healthy tenancy additions from the telco. The ongoing densification of 5G networks and increasing data consumption are expected to drive further tower growth.

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INDIA BUSINESS | Wed, 4 Feb 2026, 12:32AM IST Kansai Nerolac reported a significant drop in December quarter profit to 117.1 crore, primarily due to an exceptional loss of 44.72 crore linked to the New Labor Code. Despite a slight increase in total income to 2,017.2 crore, the paint manufacturer's earnings were impacted by a high base from the previous year.

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INDIA BUSINESS | Wed, 4 Feb 2026, 12:10AM IST Smaller steel companies and associations are raising concerns over a government proposal to remove area limits for mining leases. They fear this could allow large corporations to monopolize natural resources. This move might lead to artificial shortages and price hikes. The government is seeking public consultation on changes to the Mines and Minerals Act.

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INDIA BUSINESS | Wed, 4 Feb 2026, 12:03AM IST RBI has approved the appointment of former SBI managing director Vinay Tonse as Yes Bank's MD & CEO for three years, subject to shareholder approval

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INDIA MARKET | Tue, 3 Feb 2026, 11:54PM IST Department of financial services (DFS) secretary M Nagaraju said: "Dark clouds of uncertainty had lifted from the world economy and industry should now cheer up and heave a sigh of relief"

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GLOBAL NEWS | Tue, 3 Feb 2026, 11:48PM IST The N.F.L. claims Guardian Caps reduce the risk of concussions. The company that makes them says, It has nothing to do with concussions.

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INDIA MARKET | Tue, 3 Feb 2026, 11:36PM IST New baggage rules raise duty-free allowance to Rs 75,000 for most travellers, simplify transfer-of-residence norms and introduce digital declarations

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INDIA NEWS | Tue, 3 Feb 2026, 11:28PM IST The India-EU Free Trade Agreement (FTA) is now undergoing "legal scrubbing" and both sides are committed to concluding the process swiftly for its signing and coming into force, possibly this year, EU Ambassador to India Herve Delphin has said. Speaking to PTI, he described the FTA as a "very substantial" deal rather than an "empty shell." "We are in the process of what we call technically, of the legal scrubbing, and to close the process of before the official signing and the entry into force. I think what I've noticed with during the summit is that both sides are really committed to have this process concluded as soon as possible, so that the FTA enters into force, possibly this year, which will be another achievement," the ambassador emphasized. He listed overlapping economic interests, complementarity, scale, diversification, and de-risking as key drivers. "From the European side, the EU member states, the Commission, and leadership, and on the Indian side, we saw the same ...

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INDIA MARKET | Tue, 3 Feb 2026, 11:21PM IST Nifty on the charts for Feb. 4.

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