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  • 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.

  • GST Collections Climb 14 pc to INR 1.95 Lakh Crore in June

    New Delhi, July 1: India’s Goods and Services Tax (GST) collections continued their strong growth momentum in June, rising 14% year-on-year to ₹1.95 lakh crore, reflecting sustained economic activity and improved tax compliance across the country.

    The robust collections were driven by healthy domestic consumption, higher business transactions, and continued improvements in GST compliance. The steady rise in revenue indicates resilience in economic activity across key sectors despite global uncertainties.

    Experts believe the strong GST performance highlights the growing formalisation of the economy and the increasing adoption of digital tax systems, which have strengthened revenue collection and reduced tax leakages.

    The healthy tax collections are expected to provide the government with greater fiscal flexibility to support infrastructure development, welfare programmes, and public investment while maintaining fiscal discipline.

    The continued growth in GST revenues underscores the strength of India’s indirect tax system and signals positive momentum for the country’s economic outlook.

  • Agnikul, ICEYE Sign Pact for SAR Earth Observation Systems

    New Delhi, July 1: Space technology startup Agnikul Cosmos has signed a strategic agreement with ICEYE to jointly develop advanced Synthetic Aperture Radar (SAR) Earth observation systems, marking a significant step towards strengthening India’s space-based imaging capabilities.

    The collaboration aims to leverage the expertise of both organisations in developing next-generation SAR technologies capable of delivering high-resolution Earth observation data under all weather conditions, including day and night operations.

    The partnership is expected to support applications across sectors such as disaster management, agriculture, environmental monitoring, infrastructure planning, maritime surveillance, and national security.

    Officials said the collaboration aligns with India’s growing focus on expanding indigenous space technologies and building a robust commercial space ecosystem. By combining technological expertise, the two companies aim to accelerate innovation in satellite-based remote sensing solutions.

    The agreement also reflects the increasing role of public-private partnerships and international collaborations in advancing India’s space sector and strengthening its Earth observation capabilities for both domestic and global markets.

  • IIT(ISM) Dhanbad partners with Airborne Geoscience International to develop AI/ML-driven integration and analysis of critical mineral exploration data

    IIT(ISM) Dhanbad partners with Airborne Geoscience International to develop AI/ML-driven integration and analysis of critical mineral exploration data

    New Delhi, July 01: TEXMiN, the Technology Innovation and Translation Research Park at IIT (ISM) Dhanbad, has signed a Memorandum of Understanding (MoU) with Airborne Geoscience International (AGI), India’s first technology aggregator in airborne geoscience technologies for exploration of critical & deep-seated minerals, to pioneer AI/ML-driven mineral prospectivity analysis and mineral target ranking systems, for the first time in India.

    TEXMiN and AGI will work together to build proprietary AI-based systems, customized to Indian conditions, that will integrate and analyze disparate geoscience datasets (geological, geophysical, geochemical, GIS etc) with the mandate to generate high value exploration targets and ranking them in accordance with their prospectivity.

    By combining airborne & ground geophysical data, geological inputs, geochemical samples and GIS elevation models with AI based machine learning, the partnership aims to reduce uncertainty in early-stage mineral exploration, accelerate target generation, and create a world class mineral prospectivity database in India, for the first time, not only enable more informed decision-making for explorers and policymakers, but to also attract technology and financial investments from international early stage explorers (also known as junior miners) who are responsible for more than 2/3rd of all new mineral discoveries reported worldwide.

    The collaboration comes at a pivotal moment, when India is aiming to strengthen domestic critical mineral capabilities. The Government of India launched the National Critical Mineral Mission (NCMM) in 2025 with an outlay of ₹16,300 crore, aiming to strengthen domestic exploration, secure supply chains, and build self-reliance across the mineral value chain. At the same time, India continues to face near-complete (70-100%) import dependence for key minerals such as lithium, cobalt, and nickel.

    The partnership also strongly aligns with India’s energy transition and net zero goals. Critical minerals such as lithium, cobalt, nickel, and rare earth elements are foundational to clean energy technologies, including batteries, solar modules, and wind turbines. Further, India’s quest to become “Atmanirbhar” and become a geopolitically stable global power shall forever remain incomplete without the country’s ability to explore, discover and control its own critical mineral resources.  

    This shift is already visible in policy prioritisation, with the Geological Survey of India’s 2025-26 field season allocating 25% of its investigations to critical minerals, signalling both the scale of opportunity and the need for advanced analytical capabilities to convert data into discoveries.

    Prof. Dheeraj Kumar, Deputy Director, IIT (ISM) Dhanbad and Project Director, TEXMiN, said: “TEXMiN is focused on translating advanced research into field-ready technologies for the mining and mineral ecosystem. This collaboration with AGI reflects our commitment to bringing research into solutions with real-world impact. What makes this even more impactful is that AGI brings advanced airborne geoscience technologies and data interpretation capabilities, while TEXMiN contributes expertise in research, AI, and advanced mineral prospectivity modelling. Building on our ongoing work in the critical minerals domain, this partnership will be helpful for us to move beyond research outcomes and develop practical, field-deployable tools that can support faster, more informed exploration and contribute to India’s journey towards mineral self-reliance.”  

    Sudipto Mukerji, Managing Director, AGI, said: “AGI was founded on the belief that India’s geoscience data holds immense untapped value and should be used to drive discoveries, not just fill repositories. This partnership with TEXMiN brings together AGI’s geoscience capabilities and TEXMiN’s research and AI expertise to transform data into actionable exploration intelligence. For years, the focus has been on collecting standard data; the next chapter must be about identifying strategic exploration technologies for prioritizing discoveries. We see this collaboration as an important step towards accelerating critical mineral exploration, strengthening India’s resource security, and contributing significantly to the vision of both Atmanirbhar Bharat and Viksit Bharat.”  

    The TEXMiN -AGI partnership seeks to address a critical gap in the exploration value chain: strategic application of exploration technologies and its’ integration with legacy data: the analytical layer that turns survey data into actionable processes. By applying AI and machine learning to multiple datasets, the collaboration aims to improve the speed, consistency, and accuracy of target generation for critical and deep-seated minerals all across India. 

    India’s ambitions for Atmanirbhar Bharat and Make in India depend not only on manufacturing capabilities, but also on the ability to identify and responsibly develop the resources that underpin clean energy, water security, industrial growth, and strategic technologies. 

    By combining the best-in-class global exploration technologies, Indian geoscience expertise, AI capability, and institutional research strength, the AGI–TEXMiN MoU represents the first step towards building a state-of-the-art, data driven, mineral exploration intelligence, which shall become the bedrock for the development of the “Viksit Bharat” mission.

  • Adani Green Surpasses 20 GW Operational Capacity

    Ahmedabad, July 1: Adani Green Energy has become the first renewable energy company in India to cross 20 GW of operational capacity, marking a major milestone in the country’s clean energy sector.

    The achievement strengthens the company’s position as a leading player in India’s renewable energy transition, spanning large-scale solar and wind energy projects across multiple states.

    The company’s expanded operational base reflects steady capacity additions over recent years, driven by rising demand for clean power and strong project execution in utility-scale renewable infrastructure.

    Industry observers noted that crossing the 20 GW mark highlights the rapid scaling of India’s renewable energy ecosystem, as developers continue to invest in solar parks, wind farms, and hybrid energy projects.

    With this milestone, Adani Green Energy further consolidates its role in supporting India’s long-term decarbonisation and energy transition goals.

  • India’s UPI Boom Accelerates as Digital Payments Reach New Users and Markets

    By Dilip ModiFounder & CEOSpice Money
     
    “The June UPI numbers are significant not just because transactions crossed 22.7 billion, but because they reflect the remarkable pace at which India’s digital payments ecosystem has expanded over the past year. In just twelve months, UPI volumes have grown by over 4.3 billion transactions and nearly ₹5 lakh crore in value, underscoring the increasing trust and dependence on digital payments across the country. Importantly, this momentum is being driven by deeper adoption in smaller towns and rural India, where digital payments are becoming a key enabler of financial inclusion and economic participation. The next phase of UPI‘s growth will come from bringing millions more underserved consumers and merchants into the digital economy.”
  • Bus Fire After Collision on Jaipur–Bandikui Expressway in Dausa

    July 1: A passenger bus caught fire following a collision on the Jaipur–Bandikui Expressway in Dausa district, Rajasthan, on Tuesday, leaving several people feared dead.

    According to initial reports, at least 25 passengers managed to escape from the burning bus, while others are feared trapped inside.

    Fire services and police teams rushed to the spot and are currently carrying out rescue operations. The exact number of casualties is yet to be confirmed.

    Authorities have launched an investigation into the incident. Further details are awaited as rescue efforts continue.

  • Govt Revises Windfall Tax on Petroleum Products

    New Delhi, July 1: The Government has revised the windfall tax structure on petroleum products, increasing the levy on petrol exports while reducing duties on diesel and aviation turbine fuel (ATF).

    The updated rates are aimed at balancing domestic fuel supply priorities while responding to evolving global energy market conditions.

    Officials said the revision reflects the need to ensure adequate availability of key fuels within the domestic market while maintaining a stable export framework for the energy sector.

    The change in tax structure is expected to impact export margins for refiners, particularly in petrol shipments, while offering some relief to diesel and aviation fuel operations.

    Industry stakeholders are closely monitoring the revision as it may influence refining economics and export strategies in the near term.

    The government is expected to continue reviewing the windfall tax mechanism periodically in line with global crude price movements and domestic fuel demand conditions.

  • UPI Transactions Jump 23 pc in June, Hit 22.72 Billion

    New Delhi, July 1: Unified Payments Interface (UPI) continued its strong growth trajectory in June, recording a 23% year-on-year increase in transaction volume, which rose to 22.72 billion transactions, according to the latest data.

    The surge reflects the continued expansion of digital payments across India, driven by increasing adoption among consumers, merchants, and small businesses. UPI has further strengthened its position as the country’s most widely used real-time payment system.

    The growth in transactions highlights the deepening penetration of digital payment infrastructure, particularly in urban as well as semi-urban and rural markets. Higher usage across retail payments, peer-to-peer transfers, and merchant transactions contributed to the overall rise.

    Market observers noted that the consistent increase in UPI usage underscores India’s ongoing shift toward a cash-light economy, supported by fintech innovation and improved digital access.

    Officials and industry stakeholders expect transaction volumes to maintain upward momentum in the coming months as more services and use-cases continue to integrate with the UPI ecosystem.

  • Indian Markets Open Higher as Strong Global Cues Lift Investor Sentiment

    Mumbai , July 1: Indian equity markets opened on a positive note on Tuesday, supported by firm global cues and improved investor sentiment across major sectors.

    Benchmark indices started the session in the green, with early gains driven by buying interest in banking, IT, and energy stocks. Broader markets also reflected a stable opening trend as investors tracked positive signals from overseas markets.

    Market participants said optimism in global equities, along with easing concerns in key international markets, contributed to the upbeat start. Sentiment was further supported by selective stock-specific buying in heavyweight counters.

    Analysts noted that investors are closely watching global economic indicators, crude oil price movements, and upcoming domestic macroeconomic data for further direction in the markets.

    Trading activity is expected to remain influenced by global trends and institutional flows throughout the session.