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HinduBusinessLine
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Gross value addition from GCCs could rise more than 3 times in next 5 years, hopes Sitharaman
- Finance Minister Sitharaman addressed a GCC summit, stating that the number of GCCs being set up has increased significantly.
- GCCs in India employ 2.16 million professionals and contribute $68 billion as direct gross value addition to the national GDP.
- The gross value addition from GCCs in India is expected to potentially reach between $150 billion and $200 billion by 2030.
- India's GCC sector has shown growth in high-value-added work and is cost-effective compared to other countries, highlighting the country's talent pool in STEM fields.
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HinduBusinessLine
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India achieves 50% non-fossil power capacity, 5 years ahead of Paris pledge
- India has achieved 50% non-fossil fuel capacity, five years ahead of its 2030 target, signaling a commitment to sustainable development and climate action.
- The total installed power capacity in India is now 484.8 GW, with 242.8 GW coming from non-fossil fuel sources, showcasing significant progress towards cleaner energy.
- Key programs like PM-KUSUM and PM Surya Ghar have empowered farmers with solar-powered pumps and provided solar energy to millions of households, contributing to decentralized energy generation.
- The next phase of India's energy transition focuses on quality, equity, and resilience in clean energy access, emphasizing the importance of renewable systems, energy storage, and sustainable material use.
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HinduBusinessLine
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Following $15m+ chat.com sale to OpenAI, Shah sells os.ai to Perplexity
- Shah has sold os.ai to Perplexity, making him a larger shareholder in the company.
- This follows Shah's previous sale of chat.com to OpenAI for over $15 million in December last year.
- Shah views the creation of an AI operating system as a natural progression in technology.
- Perplexity's acquisition of os.ai is seen as a move beyond traditional search to a broader OS vision in line with the evolving computing landscape.
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HinduBusinessLine
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273
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India’s kharif sowing slackens on weather woes
- India's kharif sowing has slowed down recently, but overall sowing remains robust with a total coverage of 597.86 lh, marking a 7% increase compared to last year.
- Rainfall plays a crucial role in sowing decisions, and despite temporary variations, farmers are generally optimistic about a good harvest. Close monitoring of September rainfall is advised to avoid crop damage from flooding.
- India saw an overall 9.5% above-normal rainfall since June 1, with regional variations such as East and North-East India facing a rainfall deficit and the central region experiencing a surplus.
- Key crop acreages show fluctuations, with oilseed acreage lagging by 2%, cotton acreage dropping, but paddy, pulses, and nutri/coarse cereals witnessing increases in coverage compared to the previous year.
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Moneyweb
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Amsa signals long steel shutdown risk as support falls short
- ArcelorMittal South Africa (Amsa) is at risk of shutting down its long steel business by 30 September 2025 if no viable solution is found to address structural impediments affecting the division.
- Limited progress has been made in resolving these impediments, with high imports and Transnet's poor rail performance posing challenges for Amsa.
- Amsa postponed the closure of its long steel business after securing financial support but stated that further assistance is needed for continued operations beyond the deferral period.
- Trading conditions remain challenging for Amsa, with lower sales volumes, decreased prices, and various industry challenges prompting calls for government support.
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Bloomberg Quint
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AstraZeneca Pharma Gets CDSCO Nod For Import, Sale Of Bladder Cancer Drug
- AstraZeneca Pharma India Ltd. has received approval from the Central Drugs Standard Control Organisation to import and sell Durvalumab Solution for the treatment of adult patients with muscle invasive bladder cancer.
- Durvalumab Solution will be used in combination with gemcitabine and cisplatin as neoadjuvant treatment, followed by single agent IMFINZI as adjuvant treatment following radical cystectomy.
- The permission granted by CDSCO allows for the marketing of Durvalumab Solution in India, subject to related statutory approvals.
- In addition to the bladder cancer drug, AstraZeneca had previously received approval to import and sell sodium zirconium cyclosilicate powder for oral suspension for treating hyperkalemia in adults.
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HinduBusinessLine
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48
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Sun Pharma, Incyte settle Leqselvi lawsuit; launches alopecia drug in US
- Sun Pharma and Incyte have reached a settlement in the Leqselvi lawsuit in the US.
- This settlement includes mutual release of claims and a non-exclusive license for certain patents related to alopecia treatment.
- Leqselvi, indicated for severe alopecia areata, has been launched in the US by Sun Pharma.
- The drug showed promising results in trials, with one-third of patients regaining almost all hair by Week 24.
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HinduBusinessLine
2d
508
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GAIL inks long term LNG sales & purchase agreement with Vitol Asia
- GAIL has entered into a long-term LNG sales and purchase agreement with Vitol Asia, where Vitol will supply LNG from its global portfolio to GAIL.
- The agreement follows a binding term sheet signed between the two companies in January of the previous year.
- India, the world's fourth-largest LNG importer in 2024, has a growing demand for LNG, with plans to increase the share of natural gas in its energy mix from 6% to 15% by 2030.
- India's LNG regasification capacity has nearly doubled since 2014, supporting the country's vision for increased natural gas consumption.
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HinduBusinessLine
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238
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Temasek’s India portfolio rises 35% to $50 bn in FY25
- Temasek's India portfolio has surged by 35% to reach $50 billion in the fiscal year 2025.
- The growth in the portfolio includes investments in companies such as Haldiram Snacks Foods, VFS Global, Kotak Mahindra, Rebel Foods, and a stake in Bharti Airtel through Sintel.
- Temasek plans to continue investing at a rate of over $3 billion annually and has divested over $2 billion in India last fiscal year.
- The firm is seeking opportunities in AI and supply chains in India and has been successful in gaining value from family-owned businesses.
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HinduBusinessLine
2d
63
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The tide turns for Machilipatnam as ancient port is set for big revival
- Around 48% of the construction of a new Greenfield port at Manginapudi in Machilipatnam has been completed, with expectations to commence operations by the end of 2026.
- The project involves dredging 56 million cubic meters of sand, constructing a 2.5-kilometer long breakwater, and deploying tetrapods to shield the port from the sea's power.
- After facing obstacles since 2007, including contracts with Maytas and Navayuga, a Special Purpose Vehicle was formed in 2020 to develop the port under the Landlord Model.
- The project's first phase cost is ₹5,155 crore, with plans to expand to 16 berths, offering a capacity of 36 million tonnes per annum, benefitting both Andhra Pradesh and Telangana.
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HinduBusinessLine
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Steel Ministry probes ₹4,000-cr non-BIS steel trade; Japan, Korea, China under lens
- The Steel Ministry is investigating a ₹4,000-crore non-BIS steel trade involving countries like Japan, Korea, and China.
- Importers were found making minor alterations in steel grades to bypass quality norms and import cheaper or substandard steel.
- In FY24, 22% of non-BIS steel import applications were rejected, with the numbers rising to 25% in the first six months of FY25 due to heightened vigilance.
- The Ministry relaxed Quality Control regulations temporarily for MSMEs with pre-placed orders, allowing exemptions if steel products are loaded/shipped before July 15, 2025.
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HinduBusinessLine
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Ola Electric rejigs strategy as losses mount, to deploy rare-earth-free motors
- Ola Electric plans to deploy rare earth-free motors in its vehicles from the next quarter to mitigate supply chain risks stemming from China's rare earth export cuts in response to US tariffs.
- The company accelerated the development of these motors, aiming to ensure business continuity with cost savings and performance parity compared to rare earth magnets.
- Despite financial challenges in the previous quarter, Ola Electric is focusing on profitability and operational improvements.
- The company anticipates selling between 3.25-3.75 lakh vehicles in FY26, foreseeing improved margins with new product launches and government support.
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HinduBusinessLine
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154
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A BIMSTEC sustainable maritime transport centre to be set up in Mumbai soon: Sarbananda Sonowal
- A BIMSTEC Sustainable Maritime Transport Centre will be established in Mumbai under the Indian Ocean Centre of Excellence for Sustainable Maritime Transport.
- The announcement was made by the Union Minister for Ports, Shipping and Waterways, Sarbananda Sonowal, during the BIMSTEC Ports Conclave.
- The center aims to operationalize the BIMSTEC Agreement on Maritime Transport Cooperation, promote collaboration, innovation, reduce trade costs, and enhance connectivity.
- The BIMSTEC Ports Conclave is seen as a platform for sustainable development of port-led industrial clusters and boosting regional growth through enhanced collaboration and skill development.
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HinduBusinessLine
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656
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Centre begins formulating a comprehensive national framework for GCCs
- The government is focusing on employment metrics, with a decrease in youth unemployment from 17.8% to 10.2% compared to global average of 13.3%.
- The ₹1 lakh crore Employment Linked Incentive (ELI) scheme is aimed at generating 3.5 crore jobs, including for 1.9 crore first-timers, starting from August 1.
- A comprehensive national framework for Global Capability Centers (GCCs) is being formulated to enhance growth and expand their base as India shifts to an innovation-driven economy.
- The government officials highlighted India's infrastructure, talent strength, regulatory environment, and readiness to address industry concerns to position India as a global GCC hub through proposed policies.
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HinduBusinessLine
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245
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IIMB unveils four-year BSc (Hons) programmes in economics, data science starting 2026
- IIMB is planning to introduce four-year BSc (Hons) programmes in economics and data science starting in August 2026 at the Jigani campus, emphasizing nurturing critical thinkers and problem solvers.
- The programmes aim to align with the National Education Policy (NEP), integrating various subjects such as economics, data science, communication, ethics, and philosophy with practical orientation, including internships and an international exchange term.
- Applications for the inaugural cohort will open in September 2025 with an initial intake of 80 students, reaching a target of 640 students by 2031. The programme includes structured placement support and financial aid for deserving students.
- IIMB's move is part of a broader vision to enhance India's undergraduate education landscape, with plans to offer additional UG programmes in Sustainability and Behavioural Sciences in the future.
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