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  • Lt Gen Sandeep Jain Assumes Charge as Vice-Chief of the Army Staff

    New Delhi, July 1: Lieutenant General Sandeep Jain has assumed charge as the Vice-Chief of the Army Staff, taking over a key leadership position in the Indian Army.

    An experienced officer with a long and distinguished service record, Lt Gen Jain has held several important command and staff appointments over the course of his career, contributing to both operational leadership and strategic planning within the force.

    As Vice-Chief of the Army Staff, he will assist the Chief of the Army Staff in overseeing critical areas including operational preparedness, force modernisation, training, and overall administrative coordination across the Army.

    His appointment comes at a time when the Indian Army continues to focus on enhancing combat readiness, advancing modernisation efforts, and strengthening joint capabilities across the armed forces.

    The transition marks an important development in the Army’s senior leadership structure.

  • Capital raising becomes more demanding for private equity fund managers

     

    July 01: Raising capital has become more demanding for private equity fund managers, with increased due diligence requirements and regulatory uncertainty now the biggest barriers in the market, new research* from Ocorian, a leading U.S. and global asset services provider, shows. 

     The study of 300 senior executives at private equity fund managers across the U.S. and Europe, whose firms manage a combined $3.511 trillion in assets, found that 62% say raising capital has become slightly more difficult in 2026 compared with 2025. However, the picture is not uniformly negative: 32% say fundraising has become slightly easier, while 5% report no change.

     The findings suggest that the capital-raising environment is becoming more selective rather than simply more constrained. More than half of respondents – 51% – say investors are increasing the number of specialised managers they allocate to, while 42% say investors are maintaining stable manager relationships. Just 5% say investors are consolidating with fewer managers.

     When asked about the biggest barriers to raising capital, 63% of managers cited increased due diligence requirements, making it the most common challenge. Regulatory uncertainty was cited by 57%, followed by overallocation constraints at 48% and LP reallocation away from alternatives at 38%.

     The research also shows that valuation methodologies have become the most prominent risk area in investor due diligence. More than half of respondents – 51% – identified valuation methodology as the area now receiving the greatest scrutiny, ahead of leverage and financing risk at 34%.

     ESG remains part of the investor conversation, but its role appears to be changing. Nearly two-thirds of managers — 65% — say ESG is now primarily a reporting and compliance focus, while 28% say it remains important for certain investor segments.

    Looking ahead, managers expect to increase allocations across a range of private market strategies over the next three years. Venture capital was the most commonly selected strategy, cited by 58% of respondents, followed by growth equity at 51% and private credit/direct lending at 49%. Renewable energy was selected by 39% and infrastructure excluding renewables by 38%.

     Richard Hansford, Head of EMEA Fund Sales – Global Funds at Ocorian, said: “The capital-raising environment for private equity managers is not simply tightening — it is becoming more selective, more evidence-led and more operationally demanding.

     “While most managers say raising capital has become slightly more difficult this year, a significant minority are finding conditions easier. That points to a market where investors are still allocating, but with greater scrutiny over manager selection, due diligence standards and the operational infrastructure behind each fund.

     “One of the clearest findings is the growing importance of valuation methodology in investor due diligence. This is now distinct from leverage and financing risk, and it underlines the need for managers to demonstrate robust valuation processes, transparent reporting and specialist operational support as they compete for capital.”

  • FASTag Annual Pass Usage Surges to 19 pc of Toll Traffic

    New Delhi | July 2026: The use of FASTag annual passes on Indian highways has increased to 19% of total toll pass traffic, marking a significant rise from around 13% in December 2025, according to data compiled by the Reserve Bank of India (RBI).

    The total number of vehicle trips through toll plazas in June reached 44.4 crore, of which 8.4 crore trips were made using annual passes. Overall toll transactions generated approximately ₹7,214 crore during the month.

    In comparison, June 2025 recorded 38.6 crore trips, with collections of ₹6,973 crore, reflecting a 15% year-on-year growth in traffic volume and a 3.5% increase in value. Officials noted that the slower growth in toll revenue relative to traffic volume is primarily due to the rising adoption of annual passes.

    The FASTag annual pass, launched on August 15 at a price of ₹3,075, allows up to 200 highway trips per year, translating to an effective cost of around ₹15.40 per trip. It is currently available only for private passenger vehicles, which account for about 40% of total toll traffic, though their contribution to revenue stands at roughly 25%.

    Officials said the growing use of annual passes has had an estimated 10% impact on toll collections, partly offset by upfront pass revenue, resulting in a net effective revenue reduction of around 7–8% for toll operators.

    The data highlights the increasing preference among frequent highway users for prepaid, subscription-based tolling options that offer convenience, cost efficiency, and reduced waiting time at toll plazas. As FASTag adoption continues to deepen, the annual pass system is emerging as a key component of India’s digital tolling ecosystem.

  • FM Nirmala Sitharaman Begins France Visit to Boost Economic and Investment Ties

    New Delhi, July 1: Union Finance Minister and Minister for Corporate Affairs Nirmala Sitharaman has begun an official visit to France aimed at strengthening India–France economic cooperation and expanding investment, technology, and innovation partnerships.

    During the visit, she will co-chair the India–France Economic and Financial Dialogue (EFD) in Aix-en-Provence along with France’s Minister of Economy, Finance and Industrial and Energy Sovereignty, Roland Lescure. The dialogue will focus on identifying new areas of bilateral cooperation and deepening overall economic engagement.

    The Finance Minister will also interact with global CEOs and business leaders in a series of meetings and roundtables, where she is expected to highlight India’s strong macroeconomic fundamentals, reform-driven growth, and expanding investment opportunities.

    She will participate in a panel discussion titled “How to Promote the Growth of a New Middle Class” at the Les Rencontres Économiques d’Aix-en-Provence, a prominent global forum on economic policy and development.

    Her itinerary also includes visits to the ITER nuclear fusion project at Cadarache and Campus Cyber, France’s national hub for cybersecurity innovation, to explore cooperation in advanced technology and digital resilience.

    The visit underscores India’s continued efforts to strengthen strategic economic partnerships with France across key sectors including clean energy, technology, and innovation.

  • Increase Allocation to Private Markets to Capture Growth Opportunities, say UK Wealth Managers and IFAs

    July 01: New research by Wealth Club, the UK’s leading non-advised investment service for high-net-worth individuals, reveals wealth managers and independent financial advisers increasingly agree that exposure to private markets is now a necessity for retail and HNW investors seeking to capture a broader spectrum of growth opportunities – and this trend will only accelerate over the next five years.

    An overwhelming 94% of the UK-based wealth managers and IFAs who are responsible for assets under management of £332.7 billion surveyed agree that for the sophisticated retail investor, relying solely on a conventional listed equity portfolio risks missing out on the primary wealth-generation engines of the modern economy. That includes nearly a third (31%) who strongly agree that clients need exposure to private markets to access a broader range of growth opportunities while 63% slightly agree.

    The study evaluates the explicit benefits that private markets provide over traditional 60/40 portfolios and cites several institutional-grade advantages, with 72% of advisers highlighting the enhanced long-term capital growth benefits. This is followed by inflation protection (48%) and access to unique, non-public market sectors (47%). A third (35%) of respondents point to the benefit of reduced portfolio volatility and a quarter (26%) cite lower correlation with public markets.

    When questioned about the tactical importance of private market access in capturing the high-performing growth phase of a company’s lifecycle, 89% of wealth managers and IFAs surveyed deem it critical, with 30% categorising it as “essential” and 59% “very important”.

    This trend is not a transient reaction to short-term market cycles, but a long-term strategic view. More than nine out of 10 (92%) respondents anticipate the need for retail and HNW investors to be exposed to private markets in order to access a broader range of growth opportunities will only accelerate over the next five years.

    Alex Davies, Founder and CEO of Wealth Club, said:

    “These findings suggest private markets are approaching a tipping point among individual investors in the UK. For decades, pension funds, insurers and endowments have used private equity and private credit as important components of their portfolios. Increasingly, wealth managers and IFAs believe suitable investors should also have the opportunity to access these strategies.

    With companies staying private for longer, much of the potential upside now comes before they reach public markets. By the time they list, investors have often missed a significant part of their growth.

    “Private markets are moving from being a niche allocation to becoming an increasingly important part of a well-diversified long-term portfolio. Investors who ignore them risk missing an increasingly important source of long-term growth.”

    Wealth Club, which launched the UK’s first Private Funds Supermarket in November 2024, is growing rapidly as interest in private markets among sophisticated and high-net-worth investors continues to increase. The platform now offers 22 funds from 18 leading private markets managers and earlier this year launched the UK’s first dedicated Private Markets SIPP, marking a further important step in broadening access to private markets.

    This growth is being driven by rising interest from both investors and fund managers reflecting growing demand for private market investments and the increasing popularity of semi-liquid fund structures.

  • Shashi Tharoor, Prof Raj Kumar Address Japan Parliament

    Tokyo, July 1: In a significant moment for India–Japan academic and diplomatic engagement, Prof Raj Kumar and Shashi Tharoor addressed Japan’s Parliament, highlighting the growing importance of international collaboration in education, research, and global policy discourse.

    The engagement comes as O.P. Jindal Global University (JGU) deepens its academic and institutional ties with Japanese counterparts, aiming to expand cooperation in areas such as higher education exchange, legal studies, public policy, and global governance.

    During the address, the speakers emphasized the role of universities in fostering cross-cultural understanding and strengthening people-to-people connections between India and Japan. They also underlined the importance of academic institutions in shaping dialogue on global challenges.

    The initiative reflects JGU’s continued efforts to build strong international partnerships and enhance its global academic footprint through collaborations with leading institutions and policy forums worldwide.

    The visit is expected to further open avenues for student exchanges, joint research programmes, and academic cooperation between India and Japan in the coming years.

  • Surging Ahead: Škoda Auto India delivers a Record-Breaking H1 2026

     

    Surging Ahead: Škoda Auto India delivers a Record-Breaking H1 2026

    Mumbai, 01 July:  Škoda Auto India continues the momentum from its Biggest Year in 2025 well into the first half of 2026. The brand registered sales of 38,894 units, which is a 7.5% growth over the same period last year. In the first half of 2025, the brand had hit its then-highest half-yearly sales in its 25-year history in India. With H1 2026, the company has surged further from its record-setting year.  

    Commenting on the landmark, Ashish Gupta, Brand Director, Škoda Auto India, said, “Our record half-yearly sales reflect the growing confidence and trust customers place in the Škoda brand. In 2026, we have strengthened this connection through a focused product offensive, customer-first initiatives, and an unwavering commitment to excellence. The demand for the new Kushaq, updated Kodiaq, and the all-new Kodiaq RS, which sold out in just six minutes, highlights strong market momentum, while the Kylaq continues to drive volumes and the Slavia reinforces our sedan legacy. We remain focused on delivering differentiated products, transparent communication, and a delightful ownership experience to support sustainable long-term growth in India.” 

    Growing Network

    Škoda Auto India has expanded its presence to over 340 touchpoints, making the brand more accessible across India. The brand also recently inaugurated Škoda Express Care, further strengthening its promise of convenience, transparency, and peace of mind for our customers. 

    Surge through performance

    This growth journey has also seen the company focus on its racing DNA and motorsport legacy. Škoda Auto India’s entire fleet of cars, from the Slavia Monte Carlo and Kushaq Monte Carlo to the Kylaq, Kodiaq and the limited-volume Octavia RS, set an India and Asia Book of Records for ‘The Fastest Multi-Car Relay of a Single Manufacturer on a Circuit’. All five cars, including driver change-over times, set a lap time of 12:30.97 in total at the CoASTT track in Coimbatore. With this, the brand also set in motion its ‘Greatest On A Track is a Škoda On A Track’ campaign, showcasing its engineering and dynamic prowess while maintaining its growth momentum.

  • In Odisha’s Niyamgiri, Dongria Kondhs Keep the Ancient Art of Kapdaganda Alive

    Rayagada, July 1 (UDN): Nestled amid the dense forests and rolling hills of Niyamgiri, the Dongria Kondh community continues to preserve a centuries-old artistic tradition that remains central to its cultural identity. From vibrant wall paintings to intricately embroidered textiles, the tribe’s indigenous art forms continue to flourish despite the growing influence of modern lifestyles.

    In Odisha's Niyamgiri, Dongria Kondhs Keep the Ancient Art of Kapdaganda Alive

    Representational image

    At the heart of this cultural legacy is Kapdaganda, a hand-embroidered traditional textile adorned with motifs inspired by nature, agriculture and the community’s spiritual beliefs. Crafted entirely by hand, each piece requires months of meticulous work by tribal women, who pass down the intricate embroidery techniques from one generation to the next.

    The same symbolic designs are reflected in Linga, the colourful murals that decorate the walls of Dongria Kondh homes across villages in the Niyamgiri region. The motifs, featuring representations of the moon, crops and other elements of nature, change with festivals and rituals, serving as visual expressions of the community’s customs and beliefs.

    According to members of the community, each pattern carries a distinct meaning. Green motifs symbolise prosperity and nature, circular designs represent the full moon, while yellow patterns inspired by turmeric reflect the tribe’s deep connection with agriculture. These traditional symbols are woven into Kapdaganda, making the textile a living record of the community’s heritage.

    The craft has gained wider recognition in recent years after Kapdaganda received a Geographical Indication (GI) tag, highlighting its uniqueness and cultural significance. The traditional fabric is now recognised beyond Odisha, creating new opportunities for tribal artisans while strengthening efforts to preserve the community’s rich artistic heritage.

    Researchers working with the Dongria Kondhs say government initiatives and increasing public awareness have helped promote the textile as both a cultural symbol and a sustainable source of livelihood. Even today, members of the tribe proudly wear Kapdaganda during festivals, weddings, religious ceremonies and community gatherings, reaffirming their connection to centuries-old traditions.

    For the Dongria Kondhs, Kapdaganda is far more than a handcrafted fabric. It is a symbol of identity, history and resilience, reflecting a way of life that continues to thrive in the hills of Niyamgiri despite the passage of time.

  • Manufacturing Growth Continues, PMI at 54.2 in June

    New Delhi, July 1: India’s manufacturing sector continued its steady expansion in June, with the Purchasing Managers’ Index (PMI) recorded at 54.2, indicating sustained growth in factory activity and overall business conditions.

    A PMI reading above 50 reflects expansion, and the latest data suggests that manufacturing output remained strong, supported by healthy demand, rising production levels, and consistent inflow of new orders.

    The growth momentum was driven by resilient domestic consumption and improved operational conditions, enabling manufacturers to maintain production stability and expand capacity where required.

    Experts noted that the sustained expansion underscores the resilience of India’s industrial sector amid global economic uncertainties, with firms continuing to benefit from steady market demand.

    The positive PMI reading is expected to support broader economic growth, strengthen industrial output, and reinforce confidence in India’s manufacturing ecosystem going forward.

  • Mahindra Registers 37pc Rise in June Auto Sales

    Mumbai, July 1: Mahindra & Mahindra (M&M) reported a strong performance in June, registering a 37% year-on-year growth in total vehicle sales to 1,06,207 units, driven by robust demand across its passenger and commercial vehicle segments.

    The company continued its growth momentum on the back of sustained customer demand, a strong product portfolio, and improved market performance. The increase in sales reflects positive consumer sentiment and the company’s expanding presence in both urban and rural markets.

    Industry observers said the strong June numbers underscore the resilience of the domestic automobile sector, with demand remaining healthy despite evolving market conditions. The performance also highlights Mahindra’s continued focus on delivering vehicles that cater to a wide range of customer needs.

    The encouraging sales figures are expected to further strengthen the company’s position in the Indian automotive market as it continues to expand its product lineup and production capacity.

    With the festive season approaching in the coming months, the company remains optimistic about maintaining its growth trajectory, supported by strong bookings and sustained consumer interest.