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The offer will now comprise up to 126.44 million shares, down from about 148.91 million in the draft prospectus, according to the red herring prospectus dated September 10. The price band has been fixed at Rs 1,700 to Rs 1,785 a share, valuing NSE at as much as roughly Rs 4.42 trillion.

At the top of the band, the offer could raise about Rs 22,568 crore, compared with roughly Rs 26,580 crore had the original number of shares been sold at the same price. The transaction is entirely an offer for sale, meaning NSE will not receive proceeds and no fresh shares will be issued.

The revised structure follows concern among prospective investors about whether the exchange could sustain the growth rates that supported higher valuation expectations before tighter rules cooled activity in its lucrative derivatives business. An earlier marketed range of about Rs 2,000 to Rs 2,100 a share would have implied a valuation of as much as Rs 5.26 trillion.

Several large shareholders have reduced the number of shares they plan to sell. State Bank of India cut its proposed sale to about 15.97 million shares from 24.75 million, while Bank of Baroda, Indian Bank and other institutional holders also lowered their offers. SBI Capital Markets was added as a selling shareholder with nearly 8.8 million shares.

Other investors, including Canada Pension Plan Investment Board and ICICI Lombard General Insurance, retained their proposed sale quantities. The changes reduce the stake being offered to about 5.2 per cent of NSE’s equity from the 6 per cent envisaged in the draft prospectus.

The downsizing comes as investors scrutinise the exchange’s dependence on derivatives activity. NSE derives a substantial share of its revenue from options trading, where volumes have weakened after the Securities and Exchange Board of India introduced measures aimed at curbing excessive speculation and reducing risks for retail participants.

Options trading volumes on the exchange fell more than 12 per cent from a year earlier in August, adding to questions about the pace of future transaction-related revenue growth. Those concerns have been balanced by NSE’s strong profitability and dominant position in cash equities and derivatives.

For the quarter ended June, NSE reported a 6.7 per cent increase in net profit to about Rs 3,120 crore, while revenue rose roughly 13 per cent to Rs 4,560 crore. The figures give prospective investors a clearer view of the exchange’s earnings power as they assess the lower offer price.

The public offer is scheduled to open on September 17 and close on September 21, with anchor investors expected to bid a day earlier. A listing is expected around September 24, subject to completion of the offer process and final regulatory requirements.

The timetable follows regulatory clearance that removed a key obstacle to the listing. The Securities and Exchange Board of India approved the IPO prospectus on September 4 after NSE moved to settle long-running disputes linked to allegations of unfair access to its trading systems.

The Supreme Court also dismissed the market regulator’s appeal in the co-location matter after the parties indicated that a settlement had been reached. NSE had agreed to pay about Rs 1,491 crore to resolve the case, allowing the listing process to advance without that litigation hanging over the issue.

The reduced transaction will no longer challenge Hyundai Motor India’s 2024 flotation for the record as the country’s largest IPO by proceeds. Hyundai raised about Rs 27,870 crore, while NSE’s offer is expected to be worth about Rs 22,500 crore at the top of its announced price band.

  By R. Suryamurthy India’s trade with BRICS has expanded dramatically, but the numbers reveal an uncomfortable imbalance beneath the rhetoric about a multipolar world and alternative financial architecture. Between FY2021 and FY2026, India’s total merchandise trade with the 11-member grouping more than doubled, from $203.1 billion to $417.5 billion. Yet the expansion was overwhelmingly […]

The article Bricks cannot de-dollarise its way out of India’s huge trade imbalance appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

The proposal is expected to feature at the BRICS leaders’ summit in New Delhi on September 12 and 13, where India, as this year’s chair, is seeking agreement on ways to lower the cost and speed up the settlement of trade, tourism and remittance payments among member states.

Reserve Bank of India Governor Sanjay Malhotra said last month that BRICS members were examining links between their fast-payment systems and central bank digital currencies, with a payments task force considering several options. He stressed that discussions remained at an exploratory stage and that no model had been agreed.

India’s preference is for interoperable national systems rather than either a common currency or centrally controlled BRICS payments architecture. Officials have framed the initiative around efficiency, cheaper transactions and use of sovereign currencies, distancing it from proposals that could be interpreted as an organised campaign to displace the US dollar.

That distinction has become politically important as BRICS members debate how far financial cooperation should go. Russia and some other members have advocated stronger alternatives to Western-dominated payment channels, while India has repeatedly ruled out backing a common BRICS currency and has resisted presenting financial initiatives as a de-dollarisation project.

The RBI earlier recommended that linking BRICS members’ digital currencies be placed on the summit agenda. Such an arrangement could allow transactions to be settled directly through participating central banks or financial institutions, reducing dependence on multiple correspondent banks and potentially cutting foreign-exchange and processing costs.

Central bank digital currencies are electronic forms of sovereign money issued by monetary authorities. Unlike privately issued stablecoins, their value and settlement are backed by central banks. India has been testing the digital rupee since 2022 and has added features including programmability and offline functionality as the RBI studies how it can complement payment methods.

Malhotra has said cross-border payments offer scope for lower costs, particularly in retail transactions. He has also said the RBI will continue efforts to promote greater international use of the rupee and encourage settlement in local currencies where commercially viable.

India is pursuing payment connectivity on a parallel track through the Unified Payments Interface, its instant retail payments platform. Prime Minister Narendra Modi this week called for UPI to be connected with payment systems in more countries. UPI is already available or linked with services in several overseas markets, including Singapore and the United Arab Emirates.

The BRICS discussions nevertheless extend beyond retail payment links. Officials have also been examining whether digital currencies issued by central banks can provide a secure settlement layer for transactions between member economies without requiring the creation of a shared currency or new supranational monetary authority.

Technical and policy obstacles remain. CBDC systems across BRICS countries are at different stages of development, and any cross-border arrangement would require agreement on interoperability, cybersecurity, data standards, foreign-exchange conversion, liquidity, governance and legal responsibility when transactions fail or disputes arise.

Trade imbalances pose another complication because a country receiving more of another member’s currency than it can use may be reluctant to accumulate balances. Policymakers have therefore also discussed mechanisms involving currency swaps and other settlement arrangements to deal with mismatches in bilateral trade.

The BRICS grouping now comprises 11 members, making consensus more difficult than when it consisted only of Brazil, Russia, India, China and South Africa. The expanded membership includes Egypt, Ethiopia, Iran, the United Arab Emirates and Indonesia, while Saudi Arabia has participated in BRICS meetings as its membership status has remained subject to clarification.

The currency came under pressure after Brent crude held above $100 a barrel amid continuing tensions in West Asia, reinforcing worries about higher energy costs for a country that imports more than three-quarters of its crude oil requirements. The rupee had settled at 95.1050 against the dollar on Wednesday after touching 95.2250 during the session.

Dealers said demand for dollars from oil importers, corporate debt repayments and hedging activity added to the pressure. State-run banks were also seen supplying dollars during trading, an action market participants associated with efforts by the Reserve Bank of India to limit excessive volatility in the foreign-exchange market.

Brent crude traded around $101-$102 a barrel during Asian hours after crossing the $100 mark on Wednesday. The move followed renewed military tensions involving the United States and Iran and heightened concern about shipping and energy supply through the Gulf, including routes linked to the Strait of Hormuz.

Higher oil prices are particularly significant for the rupee because petroleum imports are paid largely in dollars. A sustained rise in crude can widen India’s trade deficit, increase demand for foreign currency from refiners and add to inflationary pressure, creating a less favourable backdrop for the local currency.

The rupee has lost roughly 0.7 per cent over the previous two sessions, with traders saying the effect of higher oil prices has become more visible after the currency had initially shown resilience. The movement has also coincided with caution across Asian markets and pressure on domestic equities.

Benchmark share indices were subdued on Thursday after suffering sharp losses in the previous session. The Sensex had dropped 813.35 points, or 1.08 per cent, on Wednesday to close at 74,764.23, while the Nifty 50 fell 203.60 points, or 0.86 per cent, to 23,431.50. The sell-off reflected concern that expensive crude could complicate the inflation and growth outlook.

The Reserve Bank has intervened intermittently in the currency market during periods of sharp rupee weakness. Traders said dollar sales by state-run banks helped the currency recover from Wednesday’s intraday low, although market participants expected central-bank support to restrain volatility rather than reverse pressure created by oil prices and capital flows.

Foreign-exchange dealers were also monitoring overseas portfolio movements. Expectations of capital outflows and demand linked to corporate payments have increased near-term dollar requirements, while the dollar index remained close to 99 against a basket of major currencies, offering only limited relief to emerging-market currencies.

The rise in crude has revived concern over India’s external balances. A higher oil import bill can feed into the current-account deficit if export earnings and other inflows do not offset the additional cost. It can also increase costs for transport, manufacturing and other energy-intensive sectors, depending on the extent to which international prices are passed through domestically.

Domestic fuel prices have so far remained comparatively insulated from the latest jump in international crude, but refiners and oil-marketing companies face greater pressure when global prices rise sharply while retail prices are unchanged. That gap can affect corporate margins and, if sustained, increase the broader fiscal and inflationary policy challenge.

Bond and equity markets are also watching the oil move for its implications for monetary policy. Higher imported energy costs can make inflation management more difficult, while weaker risk appetite may intensify foreign portfolio selling. Traders said those factors could keep the rupee volatile even if the central bank continues to provide dollar liquidity during periods of disorderly movement.

By K Raveendran India has spent the past four years demonstrating that energy security can sometimes be protected by refusing to choose sides. Russian crude offered discounts when Western sanctions rearranged the global oil market, Gulf producers remained indispensable despite the new relationship with Moscow, and purchases from the United States and other distant suppliers […]

The article India’s oil cushion faces two-front squeeze amidst Trump’s tariff threat appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

By Dr. Gyan Pathak The truthfulness of the BBC documentary “The Modi Question” was never put on trial and now the plaintiff NGO from Gujarat, Justice on Trial, withdrew its ₹10,000 crore defamation lawsuit against BBC on September 3, 2026, with liberty to file a fresh suit on the same cause of action. BBC was […]

The article The Modi Question: Truthfulness was never put on trial appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

Shanmugam, who is also Coordinating Minister for National Security and Home Affairs Minister, said the government maintains a strict principle of not directing individual investment decisions by Temasek portfolio companies. Singapore Airlines, rather than state investor Temasek, is the shareholder in Air India and must decide whether additional funding is commercially justified, he said.

Air India is seeking about $1.5 billion in fresh equity from its owners, Tata Sons and Singapore Airlines, after losses widened sharply in the financial year ended March 2026. Singapore Airlines owns 25.1 per cent of the carrier, while Tata Sons holds the remaining 74.9 per cent.

Singapore Airlines said last week that its board would “carefully consider” any request for additional capital, taking account of the group’s other funding requirements and Air India’s business strategy. The airline said it works with Tata Sons to support Air India’s transformation programme as a significant minority shareholder.

The funding question has prompted political scrutiny in Singapore because Temasek, which is owned by the Ministry of Finance, is the majority shareholder in Singapore Airlines. Workers’ Party MP Kenneth Tiong has questioned whether Temasek funds should ultimately be used to support Air India and has filed a question for the September 8 sitting of Parliament.

Shanmugam said shareholders and the public were entitled to expect rigorous assessment, accountability and transparency from Singapore Airlines. Shareholders could question management and directors at the company’s annual general meeting, but political views should not replace the professional judgment of its board, he said.

“Neither his views nor those of any minister or any other MP should substitute for the commercial judgment of SIA’s management and board of directors,” Shanmugam said, referring to Tiong.

He said Temasek is accountable to the government for its overall portfolio and long-term performance, but not for individual investments made by its portfolio companies. The government’s role, he added, was to ensure professional management and give companies sufficient independence to make properly considered decisions without political pressure.

Shanmugam warned that directing specific investments could weaken commercial discipline by allowing political considerations to shape corporate decisions. He said companies must be able to accept that some investments will produce gains and others losses, with performance judged across portfolios and over appropriate time horizons.

The debate follows Air India’s continuing financial and operational pressures during its overhaul under Tata ownership. The airline group posted a record loss of more than $2 billion for the last financial year, while its transformation has required extensive investment in aircraft, systems, customer service, maintenance and staffing.

Singapore Airlines became an Air India shareholder after the merger of Vistara with Air India was completed in November 2024. It received a 25.1 per cent stake in the enlarged carrier, combining its former Vistara interest with a cash investment agreed as part of the transaction.

Singapore Airlines subsequently injected further capital into Air India. By the end of March 2025, the total cost of its investment in the carrier stood at about S$2.1 billion, according to its disclosures.

The airline has repeatedly described its exposure to Air India as a long-term strategic investment, giving it direct participation in India’s large domestic aviation market and international traffic flows beyond its Singapore hub. It has also acknowledged that the turnaround will take time and that Air India faces both company-specific and wider industry challenges.

By Dr. Gyan Pathak The talks between the representative of the United Forum of Bank Unions (UFBU) and the Indian Banks’ Association (IBA) held on September 4 has failed. On the one hand, UFBU has said that they are not in a position to defer their multiple strike schedule in banks, beginning from September 11, […]

The article No breakthrough in resolving bank strikes due from Sept 11 appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

By Dr. Gyan Pathak In the third phase of Special Intensive Revision (SIR) of electoral rolls, National Capital Territory (NCT) Delhi tops in deletion of voters in terms of percentage about 33 per cent, and the State of Maharashtra that headquarters the financial capital of the country Mumbai tops in voters’ deletion in terms of […]

The article Delhi tops SIR deletion in percentage, Maharashtra in absolute numbers appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

By TN Ashok The Haldwani controversy is larger than a quarrel between two political families. It has reopened one of independent India’s most uncomfortable questions: has caste-based untouchability really disappeared, or has it merely changed its vocabulary and rituals? India’s political battlefield has acquired an unusually old-fashioned weapon: holy water, a havan and the idea that […]

The article Haldwani purification row: Caste back on political centre-stage appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

By Nantoo Banerjee The Indian Space Research Organisation (ISRO) is going great guns. The country’s national space agency plans to launch its own independent orbital outpost, named the Bharatiya Antariksha Station (BAS) by 2035. If it succeeds, India will be the only country after China to have an independent space station. Neither the US nor Russia […]

The article India plans own orbital space outpost, second after China appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

A sector assessment by PhillipCapital said the April-June quarter had already shown resilience despite geopolitical disruptions, with industry occupancy rising by two to four percentage points from a year earlier. Average room rates increased 6-8 per cent, while revenue per available room, or RevPAR, advanced 11-13 per cent.

The brokerage expects business conditions to improve further during the October-March period, helped by a heavier wedding calendar, stronger meetings, incentives, conferences and exhibitions activity and higher international travel during the traditional peak season. Corporate travel, which was softer earlier in the year amid uncertainty linked to the West Asia conflict, has also shown signs of gradual recovery.

Limited additions to room supply in key markets are expected to give operators continued pricing power if demand strengthens as projected. That imbalance between demand and new capacity has been an important support for average room rates across several major destinations and is likely to remain favourable through the second half of the financial year.

The outlook is consistent with ICRA’s projection that hospitality industry revenues will rise 7-9 per cent year on year in FY27, following an estimated 9-12 per cent increase in FY26. The ratings agency expects pan-India premium hotel occupancy to remain at 72-74 per cent, broadly unchanged from FY26, while average room rates for premium hotels rise to Rs 8,600-8,800 from Rs 8,200-8,500.

Domestic travellers remain the principal source of demand and have helped cushion the industry from weaker foreign arrivals and disruptions to international air routes. ICRA estimated occupancy at 66-68 per cent during the first two months of FY27, compared with 62-64 per cent a year earlier, while average room rates were estimated at Rs 7,800-8,000 against Rs 7,500-7,700.

Leisure destinations have generally performed better than business-focused hotels during the opening months of the year. Indian Hotels Company reported strong demand across its domestic portfolio, with revenue from operations within India rising during the June quarter and leisure markets contributing significantly to growth.

Other listed hotel operators have also reported positive RevPAR trends, though performance has varied by city, customer mix and exposure to international guests. The sector’s recovery in the first quarter was more occupancy-led than in earlier periods, when sharp increases in room rates were the dominant driver of revenue growth.

Demand from corporate customers is expected to become more supportive as travel budgets normalise and business activity strengthens. Bengaluru, Hyderabad and Delhi have shown firmer room rates in parts of the second quarter, aided by technology, global capability centre and broader corporate travel demand.

International traffic remains a key variable. Foreign tourist arrivals were hit earlier by disruptions associated with the conflict in West Asia, but the Ministry of Tourism’s data portal indicates arrivals during 2026 have begun to show year-on-year improvement in available updates. A seasonal rise from October would add higher-paying international travellers to the domestic base.

Wedding demand is also expected to provide a material lift. Hotels typically benefit not only from room bookings during large celebrations but also from food and beverage, banquet and event revenue, making the wedding calendar an important contributor during the second half.

Meetings and exhibition business is another area expected to improve as companies resume travel and events. Stronger MICE demand can lift weekday occupancy at city hotels, complementing leisure traffic that is often concentrated around weekends, holidays and destination markets.

Risks to the outlook remain. A prolonged escalation in West Asia could again disrupt international travel and corporate spending, while inflation could weigh on discretionary consumption. ICRA has said these factors remain monitorable even though domestic demand has so far limited the direct impact on the sector.

By TN Ashok INDIA bloc opposition leader and Congress chairperson Mrs. Sonia Gandhi’s forthcoming memoir, Belonging: A Journey of Love, has become a focal point of political controversy before a single copy has reached an Indian bookseller. The irony is considerable: a book about a woman who spent much of her public life guarding her […]

The article Sonia Gandhi’s Belonging: Penguin demanded unfair redactions appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

The agreement emerged from the inaugural meeting of the India-Kuwait Joint Defence Committee in New Delhi on August 28, marking the first formal session of the mechanism created to institutionalise expanding security and military ties.

The talks were co-chaired by Joint Secretary Amitabh Prasad and Brigadier General Raed Alsakran, who headed a five-member delegation from Kuwait. India’s delegation brought together representatives of the Army, Navy and Air Force along with officials from the Department of Defence Production, Defence Research and Development Organisation, Armed Forces Medical Services and Ministry of External Affairs.

Both sides identified training and military exercises as priority areas, opening the possibility of greater exchanges between personnel and institutions. Military medicine and structured staff talks were also placed on the cooperation agenda, potentially creating regular channels through which officers can exchange operational experience and develop closer institutional links.

Defence manufacturing formed another important component of the discussions. The Kuwaiti delegation visited DPSU Bhawan in New Delhi and held talks with representatives of India’s defence industry on potential areas of cooperation. A separate interaction with industry representatives was also included in the delegation’s programme, indicating that commercial and technological partnerships are becoming a stronger part of the bilateral defence relationship.

The engagement gives practical momentum to the memorandum of understanding on defence cooperation signed during Prime Minister Narendra Modi’s visit to Kuwait on December 21-22, 2024. The agreement was designed to institutionalise cooperation in training, exchanges of personnel and experts, joint exercises, defence manufacturing, supply of military equipment and research and development.

That visit also saw India and Kuwait elevate their relationship to a strategic partnership, broadening a relationship traditionally centred on energy, trade and the movement of people. Defence and security have since gained greater prominence as both governments seek more structured engagement amid shifting geopolitical and security conditions across the Gulf and wider West Asian region.

The Joint Defence Committee provides a mechanism through which the provisions of the 2024 agreement can be translated into programmes, exchanges and projects. Its composition also reflects the wide scope envisaged for cooperation, extending beyond conventional military contacts into medical services, technology development and defence manufacturing.

Kuwait has traditionally relied heavily on international suppliers for defence equipment, while India has been expanding its efforts to become a larger producer and exporter of military systems. New Delhi has been encouraging overseas partnerships for domestically manufactured weapons, platforms, electronics and support systems as defence production capacity expands.

Research and development cooperation could therefore become a significant part of the relationship. Participation by the Defence Research and Development Organisation at the committee meeting creates an institutional route for exploring technology-based projects alongside conventional equipment sales and training arrangements.

The talks also come as Kuwait broadens defence engagement with partners across Asia while navigating a complex regional security environment. Its location at the northern end of the Gulf, close to Iraq, Saudi Arabia and Iran, has made military preparedness and diversified security partnerships enduring priorities for the country.

For India, deeper defence engagement with Kuwait complements its expanding strategic relationships with Gulf Cooperation Council states. New Delhi has progressively widened military exercises, naval engagements, training programmes and defence-industry cooperation with countries across the Gulf as economic and energy relationships have developed into broader strategic ties.

Brigadier General Alsakran also laid a wreath at the National War Memorial in New Delhi ahead of the committee meeting, paying homage to fallen military personnel. The gesture formed part of a programme combining official consultations, ceremonial engagements and meetings with defence-sector representatives.

The reserves increased by $12.42 billion in the week ended August 21, extending their rise for an eighth consecutive week. The latest accumulation pushed the stockpile above the previous record of about $728.5 billion reached in February and marked an increase of roughly $63 billion over eight weeks.

Foreign currency assets, which form the largest part of the reserves, rose by $9.48 billion during the week to $591.33 billion. Gold reserves climbed by $2.80 billion to $114.22 billion, reflecting valuation gains as well as changes in reserve holdings.

Special Drawing Rights increased by $112 million to $18.85 billion, while the country’s reserve position with the International Monetary Fund rose by $26 million to $4.93 billion. Total reserves were $38.22 billion higher than at the end of March and about $38.61 billion above their level a year earlier.

The sharp build-up follows measures introduced by the Reserve Bank of India in June to strengthen capital inflows during a period of pressure on the rupee and heightened uncertainty in global financial and energy markets. The steps provided favourable foreign-exchange swap arrangements for overseas deposits and borrowing programmes, encouraging banks and companies to bring additional dollars into the country.

Nearly $73 billion was mobilised through the programmes between early June and August 21, with foreign currency non-resident bank deposits accounting for about $65 billion. The scale of the response prompted the central bank to bring forward the closure of the special swap facility linked to these deposits.

Deposits mobilised until August 31 remain eligible under the scheme, while banks can complete qualifying swaps with the central bank until September 11. Facilities supporting external commercial borrowings and overseas foreign currency borrowing are scheduled to remain available until December 31.

The programme allows eligible foreign-currency funds to be swapped with the Reserve Bank of India, enabling the central bank to absorb dollars while supplying rupee liquidity to participating institutions. The structure reduces hedging costs for banks and borrowers and has made overseas fund-raising more attractive at a time when global borrowing conditions remain demanding.

Banks have also stepped up offshore debt issuance. Union Bank of India returned to the dollar bond market this month after a 12-year absence, raising $600 million through three-year and five-year securities. State Bank of India and Bank of Baroda have also raised dollar funds, while other lenders have used international financial centres and overseas markets to secure foreign-currency financing. Banks collectively raised more than $11 billion through offshore bond issuance from June into August.

The inflows have helped stabilise the rupee after months of pressure from portfolio withdrawals, elevated oil prices and uncertainty surrounding global interest rates. The currency ended Friday at about 95.38 to the dollar, gaining around 0.3% over the week as dollar supplies increased ahead of the closure of the deposit window.

The Reserve Bank of India has continued to intervene in foreign-exchange markets to limit excessive movements rather than defend a specific exchange rate. Its enlarged reserves provide greater capacity to sell dollars when needed while absorbing incoming foreign currency when supply becomes unusually heavy.

The strengthened reserve position is particularly significant because India remains dependent on imported crude oil and other commodities priced in dollars. A larger foreign-exchange buffer can soften the impact of sudden increases in energy prices, capital outflows or global market disruption, although sustained intervention can also influence domestic liquidity.

External risks remain substantial. Oil prices have stayed elevated amid geopolitical disruptions, while changes in US monetary policy could influence capital flows towards emerging markets. A stronger dollar or higher US interest rates could again increase pressure on the rupee and other Asian currencies.

For policymakers, the surge in reserves also creates a balancing challenge. Large dollar purchases add rupee liquidity to the financial system, potentially requiring the central bank to absorb excess funds through other instruments. At the same time, allowing the rupee to strengthen too sharply because of temporary inflows could affect exporters and create greater currency volatility once those flows diminish.

By TN Ashok India has built fighter aircraft, warships, tanks and some of the world’s most sophisticated missiles, but one weakness has repeatedly haunted its defence-industrial ambitions: engines. The country has been able to design and manufacture airframes, yet propulsion technology has remained heavily dependent on foreign suppliers. The latest agreement between the state-owned Hindustan […]

The article HAL-Safran helicopter engine deal: India breaks import trap? appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

By Subrata Majumder In the post Japanese Yen appreciation era, Japanese overseas investment shifted to China and ASEAN for low-cost manufacturing, leaving India behind. The trajectory is now witnessing movement in the reverse gear, owing to US President Trump’s high reciprocal tariff. Japanese investment has surged in India, leaving China and ASEAN behind. While Japanese […]

The article Trump’s high-tariff regime revives Japanese investment in India appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

The expansion is being backed by more than $300 billion in announced investment commitments across data centres and associated digital infrastructure, putting the sector among the country’s fastest-growing infrastructure segments. The development pipeline could lift installed data centre capacity beyond 6.7 gigawatts by the end of the decade from more than 1.8 GW in the first half of 2026.

The scale of investment reflects a fundamental shift in the market as generative AI dramatically increases computing requirements. Cloud migration, digital payments, video streaming, 5G networks, enterprise digitisation and growing demand for local processing capacity are adding to workloads that require high-density computing facilities operating around the clock.

Forecasts differ considerably because industry studies use different definitions of operational capacity, committed projects and IT load. A separate assessment released in July projects operational data centre capacity at 12 GW by 2030, compared with 2.2 GW in 2025, as AI-focused capacity expands sharply. AI-dedicated capacity alone could rise from about 275 MW in 2025 to more than 6.5 GW by the end of the decade.

Power availability is emerging as one of the biggest constraints on that growth. Electricity demand from data centres is estimated to reach 13.56 GW by 2031-32, requiring major additions to generation, transmission and renewable-energy infrastructure. Developers are also adopting direct-to-chip liquid cooling, immersion cooling and other technologies designed to reduce the electricity and water requirements of increasingly dense AI computing installations.

Mumbai Metropolitan Region and Chennai remain the largest established data centre markets, benefiting from submarine cable connectivity, fibre infrastructure and concentrations of enterprise customers. Their position at international cable routes connecting Europe, West Asia and Southeast Asia has helped establish both regions as major gateways for hyperscale capacity.

Hyderabad, Delhi-NCR and Bengaluru are now attracting a larger share of planned development as operators seek new land, power and connectivity options. Hyderabad could add 600-700 MW by 2030 to its existing capacity of about 178 MW, while Delhi-NCR is expected to receive another 500-600 MW against a current base of roughly 179 MW.

Global technology companies and large domestic groups are driving the investment cycle. Google has begun construction of an AI hub in Visakhapatnam as part of an approximately $15 billion investment planned between 2026 and 2030. The project combines gigawatt-scale computing infrastructure with subsea connectivity and new energy capacity, making Visakhapatnam an emerging data centre location on the east coast.

Reliance Industries is developing a 168 MW AI-enabled data centre in Jamnagar that Meta will lease, with an option to expand capacity. The facility, expected to be delivered within two years of the June 2026 announcement, will use renewable electricity and desalinated seawater for cooling. It will become Meta’s first built-to-suit data centre capacity in the country.

Real estate groups are also moving into infrastructure traditionally dominated by specialised data centre operators. Lodha Developers has earmarked about 400 acres at Palava near Mumbai for a data centre park and plans roughly 1 GW of powered-shell capacity, with Amazon Web Services and STT Global Data Centres identified as anchor operators. The powered-shell development alone is expected to require roughly ₹10,000 crore to ₹11,000 crore.

Other projects are expanding the competitive field. Yotta Infrastructure is developing additional capacity in Greater Noida, Anant Raj is targeting 357 MW of IT load across locations in Haryana by FY2032, while Prestige Group and NTT Data have agreed to develop a Bengaluru facility with 100 MW of overall capacity and 67.2 MW of critical IT load. NTT is also among the companies pursuing substantial additions in Hyderabad.

The Walmart-owned company’s rapid-delivery service is handling an estimated 1.1 million to 1.2 million orders a day, compared with roughly 390,000 to 400,000 in November. That has brought Flipkart Minutes within striking distance of Swiggy Instamart, which is processing about 1.4 million daily orders.

Blinkit remains well ahead, with estimated daily volumes of roughly 3.4 million to 3.6 million orders, while Zepto handles about 2.4 million to 2.6 million. The gap nevertheless underlines the speed with which Flipkart has transformed itself from a late entrant into a major force in one of the country’s fastest-growing retail segments.

Flipkart Minutes was launched in August 2024, several years after Swiggy introduced Instamart and after Zepto established itself around ultra-fast grocery delivery. Blinkit’s origins stretch further back to Grofers, which began as an online grocery service before moving towards the dark-store model.

Flipkart has compensated for that late start with an aggressive infrastructure build-out. Minutes crossed 1,000 micro-fulfilment centres in June and now covers more than 130 cities and 8,000 pin codes. The company plans to expand its network to about 1,500 centres by the end of 2026. Orders have increased fivefold year on year.

The expansion is increasingly focused beyond the largest metropolitan markets. Around 90 cities added to the Minutes network over the past year are in smaller urban centres, where demand is growing from a relatively low base. Flipkart says its tier-two and tier-three business has expanded 42-fold compared with a year earlier.

That strategy distinguishes Flipkart from competitors that built much of their quick-commerce scale in affluent metropolitan neighbourhoods. The company can draw on an established e-commerce customer base, logistics infrastructure and merchant relationships while extending instant delivery to places where dark-store penetration remains lower.

Average baskets also offer Flipkart another competitive lever. Its average order value has been estimated at about ₹700, reflecting efforts to broaden rapid delivery beyond groceries into electronics, beauty products, wellness items and lifestyle merchandise. Fruits and vegetables remain important, but the average order value within that category has risen about 30% as customers become more comfortable buying larger baskets through Minutes.

The market itself continues to expand sharply. The six largest quick-commerce platforms together are now processing more than nine million orders a day. Blinkit, Zepto and Instamart still account for nearly four-fifths of that volume, but the accelerating expansion of Flipkart and Amazon is changing a market once dominated almost entirely by venture-backed start-ups.

Amazon is scaling its Now service while Reliance and other retailers are also seeking a larger share of instant commerce. Competition is increasingly shifting from simply entering new cities to placing additional fulfilment centres inside already-served pin codes, shortening delivery distances and expanding product selection.

For Swiggy, the pressure comes as Instamart concentrates increasingly on economics rather than network growth alone. The platform operates more than 1,200 dark stores across over 130 cities and serves more than 14 million monthly transacting users. Its gross order value reached ₹7,907 crore in the first quarter of fiscal 2027, rising 40% year on year, while its contribution-margin loss narrowed to 0.2% of gross order value. More than 45% of its dark-store network is contribution-margin positive.

Swiggy is also moving Instamart towards an inventory-led structure after changes to its foreign ownership arrangements, a model designed to improve purchasing efficiency, reduce wastage and give the company greater control over assortment and margins.

Walmart’s financial strength gives Flipkart considerable capacity to sustain investment while the quick-commerce business scales. Walmart International reported a 19% increase in e-commerce sales in its fiscal second quarter, while its operating income benefited partly from lower e-commerce losses. Flipkart’s advertising operations also remained a growth driver for the international division.

By T Neelakantan Aiyers Despite the tariff shocks unleashed by Donald Trump, Indian exports to the United States have proved remarkably resilient. New trade agreements with Britain, the EU, Oman and New Zealand are giving India more options—but not yet replacing America as its most important export market. There was a moment when Donald Trump’s […]

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