 "LIC allocates Rs 600 crore for a bold digital transformation, aiming for a paperless future amid fierce market competition.")
Life Insurance Corporation of India (LIC) is investing Rs 600 crore in its digital transformation to become fully paperless within two years. At a recent event in Mumbai, Chief Risk Officer Sunder Krishnan shared details about the investment, which includes hiring a system integrator and consultants for various aspects of the transformation. LIC has partnered ...
 "India’s oil minister vows to purchase low-cost Russian oil, navigating sanctions while aiming to boost energy independence and gas usage.")
India is poised to continue purchasing oil from Russian suppliers due to favorable prices, as confirmed by Oil Minister Hardeep Singh Puri. With Western sanctions on Russia limiting oil prices, India is determined to buy from the cheapest sources, highlighting that they are not alone in this approach, as countries like Japan and various European ...
 "China claims a breakthrough in homegrown chip technology, challenging US sanctions and aiming to compete with ASML’s dominance.")
China has made significant strides in developing its own chipmaking equipment, aiming to overcome U.S. sanctions that hinder its semiconductor goals. The country’s Ministry of Industry and Information Technology recently announced a new laser-based immersion lithography machine capable of producing chips with resolutions of 65 nanometers or better. This marks a notable advancement from previous ...
 "Tata Steel’s Kalinganagar expansion elevates Odisha to the top investment spot, aiming for 40 mtpa capacity by 2030.")
Tata Steel has announced that after expanding its Kalinganagar plant in Odisha, it will become the company’s largest investment area. With an investment of Rs 27,000 crore for the phase-II expansion, the plant’s capacity will increase from 3 million tonnes per annum to 8 million tonnes. This expansion is crucial for Tata Steel’s goal of ...
 "Tata Electronics expands India’s semiconductor manufacturing with new fabs, aiming for a pivotal role in the global chip market.")
Tata Electronics is expanding its semiconductor manufacturing capabilities in India by building two new fabrication plants in Dholera, Gujarat. This move aims to strengthen the domestic chip ecosystem and meet the increasing global demand for semiconductors. The first fab is under construction and set to start production in 2026, focusing on essential chips for various ...
 "At the 4th RE-Invest Summit, India commits 6 billion to renewable energy, aiming for 500 GW capacity by 2030.")
At the 4th RE-Invest Summit, Union Minister Pralhad Joshi announced that banks and financial institutions have pledged nearly $386 billion to renewable energy projects in India. Since 2014, India’s renewable energy capacity has surged by 175%, with solar capacity increasing 33 times. The country aims to reach 500 gigawatts of renewable energy by 2030, surpassing ...
 "India scrapped minimum export prices on key commodities, aiming to boost farmer incomes and curb inflation before crucial elections.")
The Indian government recently made significant changes to its export policies to stabilize farm prices and manage inflation ahead of upcoming state elections in Haryana, Jharkhand, Jammu & Kashmir, and Maharashtra. Notably, the minimum export price on onions was eliminated, dropping from $550 per tonne. Additionally, the export duty on onions was reduced from 40% ...
 "The government plans to increase bank fines for regulatory noncompliance, aiming to strengthen deterrents against repeat offenders.")
The government is looking to increase fines for banks that fail to follow regulatory guidelines. Officials believe the current fines are too low to effectively discourage major organizations or those that repeatedly break the rules. To address this, the Centre is open to revising laws, such as the Banking Regulation Act of 1949 and the ...
 "SOM Distilleries launches India’s first twist-cap beer, aiming for Rs 1,600 crore sales and 15% market share by 2025.")
SOM Distilleries and Breweries, based in Bhopal, has launched its innovative twist-cap beer, “Woodpecker,” in Karnataka. This marks the debut of India’s first twist-cap beer, featuring two variants: Woodpecker Glide, a mild beer, and Woodpecker Crest, a stronger option. The beers are crafted using imported barley, Indian malts, and German hops, ensuring high quality and ...
 "LG Electronics plans a .5 billion IPO for its Indian unit, aiming to boost revenue and capitalize on India’s growth potential.")
LG Electronics is planning a potential initial public offering (IPO) for its Indian business, aiming to raise between $1 billion and $1.5 billion. This move could value LG Electronics India Pvt Ltd at around $13 billion. The company has selected major banks like Bank of America, Citigroup, JPMorgan Chase, and Morgan Stanley to manage the ...
