Category: Business

  • AKL Launches New Era of Indian Kabaddi; Sony Sports Network Named Official Broadcast Partner

    AKL Launches New Era of Indian Kabaddi; Sony Sports Network Named Official Broadcast Partner

    New Delhi. May 11: Indian sports enters a new chapter with the official launch of the AKL league and the announcement of its broadcast partnership with Sony Sports Network. Rooted in the spirit, resilience, and heritage of kabaddi, AKL aims to create a modern sporting platform connecting grassroots talent with a global audience.

    Born from a vision to elevate kabaddi beyond boundaries, AKL has spent months building strong foundations through nationwide campaigns, player scouting initiatives, community outreach programs, and open trials across multiple regions. The overwhelming response from athletes, fans, and local communities reflects the growing passion for the sport and the need for a league that truly represents the heart of Indian kabaddi.

    AKL’s journey goes beyond competition. The league is committed to creating opportunities for athletes, strengthening the sporting ecosystem, and celebrating a sport deeply embedded in India’s cultural identity. With Sony Sports Network as the official broadcast partner, AKL is set to bring high-quality kabaddi action and inspiring stories from the mat to millions of viewers across the country.

    As AKL takes its first official step forward, the league remains dedicated to discovering future stars and taking kabaddi to greater heights both nationally and internationally.

  • Godrej Enterprises Group advances India’s aero engine capabilities through precision engineering and global trust

    Maharashtra is well positioned to emerge as a globally significant aerospace manufacturing and supply chain hub

    Chandigarh, 10 May 2026: The Aerospace business of Godrej Enterprises Group is strengthening India’s aero engine and high-value aerospace manufacturing capabilities through advanced precision engineering, world-class quality execution, and deep trust built with leading global players. As the only private company in India with demonstrated capability to manufacture all modules of an aero engine, Godrej is playing a significant role in advancing the nation’s Atmanirbhar Bharat vision.

    Godrej Enterprises Group advances India’s aero engine capabilities through precision engineering and global trust

    Established in the 1980s, the aerospace business of Godrej Enterprises Group has been a trusted partner in several nation-building missions and has steadily evolved into a key player within the global aerospace ecosystem. Today, it partners with leading aerospace OEMs including Boeing, Safran Aircraft Engines, GE Aerospace, Rolls Royce and RTX—relationships built on flawless execution, zero-defect quality, and consistent delivery of complex, safety-critical aerospace systems. The business has recorded nearly 25% year-on-year growth, while exports have grown by over 30%, reflecting its expanding role in global aerospace supply chains.

    Looking ahead, the business has committed an investment of approximately ₹100 crore over the next three years to accelerate innovation-led growth across design, research and development, new product development, and advanced digital manufacturing technologies. Its engineering capabilities are anchored by a dedicated R&D centre, including a specialised design office focused on mechanical and electromechanical actuation systems for aircraft—marking an important milestone in the company’s transition from built-to-print to built-to-spec capabilities.

    Further strengthening this ambition is the business’ new manufacturing facility in Khalapur, Maharashtra, spread across 100 acres and two plants, which will serve as a critical capacity expansion hub for advanced aerospace and propulsion-adjacent programmes serving both India and global OEMs. Backed by strong infrastructure, port connectivity, a deep engineering talent pool, and a growing advanced manufacturing ecosystem, Maharashtra is well positioned to emerge as a globally significant aerospace manufacturing and supply chain hub.

    Maneck Behramkamdin, Business Head, Aerospace Business, Godrej Enterprises Group, said: “Aero engine ecosystems are built on deep engineering capability, uncompromising quality, resilient supply chains, and sustained execution credibility. Our journey reflects the trust we have earned from global OEMs and our long-term commitment to indigenising critical aerospace systems. With continued investments in innovation, advanced manufacturing, and people capability, Godrej is well positioned to support India’s aero engine ambitions and contribute meaningfully to the global aerospace value chain.”

    A defining milestone in this journey has been Godrej’s indigenous development and manufacture of critical aerospace systems, including actuators—positioning it among a select few with such advanced capabilities in India. This reflects the company’s evolution from a precision component manufacturer to a design-led engineering partner capable of delivering integrated aerospace systems.

    Driven by precision engineering, a strong quality culture, and long-term capability building, Godrej continues to strengthen India’s position as a trusted and globally competitive aerospace manufacturing partner.

  • Gladiators Lift Their Maiden PHL 2026 Trophy as Payments Heroes League Concludes with a Grand Closing Ceremony in Bhubaneswar

    Bhubaneswar, Odisha, May 2026: Payments Heroes League (PHL) 2026, India’s premier corporate cricket tournament for the payments, fintech, and BFSI ecosystems, concluded on a high note with a closing ceremony and grand finale after seven days of cricketing action, camaraderie, and entertainment, with Gladiators creating history by lifting the PHL Trophy for the very first time.

    The week-long tournament witnessed several closely contested matches, keeping the excitement alive among players and audiences throughout the event. Getting inspired with the latest win of our Indian women cricket team in World Cup, The tournament commenced with an energetic Women’s League match , setting the tone for an action-packed season. Team Finix emerged victorious in the Women’s League category with an impressive performance. iServeU giving the similar space to their women employees to showcase their talent.

    The much-anticipated grand finale was played between Gladiators and defending champions Nimurai. The tournament also witnessed stellar performances from former Ranji players, whose experience and leadership significantly contributed to the competitive spirit and quality of the matches throughout the season. Former Ranji cricketer Payash Ranjan once again showcased his excellence on the field and was awarded the Purple Cap Award for emerging as the tournament’s highest wicket-taker. He was also honoured with the Best Bowler of the Tournament award.

    Speaking on the victory, the franchise owner of Gladiators Mr. Abinash Nanda, CBO- iServeU said, “Winning the PHL 2026 trophy for the very first time is a proud and emotional moment for our entire team. The tournament was highly competitive, and every match pushed us to perform better. This victory is the result of hard work, dedication, and team spirit of every player.”

    The franchise owner of Nimurai Mr. Sanjib Parida added, “PHL 2026 has been a wonderful platform showcasing competitive cricket, sportsmanship, and camaraderie. It was great to be part of such an exciting season, and we congratulate Gladiators on their remarkable performance in the finals also thanks to all Ranji players to level up the game it was indeed a great experience.”

    The Orange Cap Award for impactful batting performance was awarded to Arindam Chakroborty, while Natraj Behera, the ex-Ranji player, lit up the tournament with a stunning 147 in the final, and was recognised as the Best Batsman of the Tournament for his exceptional batting performances throughout the league.

    Dev Kalyan Sahani was awarded the prestigious Man of the Series title for his consistent and outstanding contribution across the tournament.

    The closing ceremony was graced by Chief Guest Rahul Singh, Country Head – Private Baking – IDFC bank, who congratulated all participating teams and applauded the platform for promoting sportsmanship, wellness, and collaboration within the corporate ecosystem. Beyond the cricket, PHL 2026 also served as a powerful networking arena for the payments and BFSI industry. With senior executives and decision-makers from leading banks and fintech companies present across the seven days, the league provided a natural and engaging environment for meaningful connections — bridging the gap between financial institutions and technology innovators in a setting that went well beyond the boardroom.

    PHL 2026 was made possible by the generous support of its sponsors, who joined as valued partners in bringing this vision to life. The tournament was supported by leading industry players including Axis Bank (Title Sponsor), IDFC First Bank, Union Bank, DCB Bank, Trendit, Eshopbox, Zenisk, Lyra, Morefun, mPurse, Livlong, Vodafone, Campa Cola, and Decathlon. Their participation and presence at the event reflected the growing recognition of PHL as a premier platform for brand visibility and community engagement within the ecosystem.

    In recognition of their valuable contribution to the tournament, participating Ranji players were felicitated during the ceremony as Decathlon PHL Heroes. Umpires were also honoured by Aaonxt for their dedication and support throughout the tournament.

    The closing ceremony beautifully celebrated cricket, entertainment, teamwork, and community participation, making this edition of Payments Heroes League a memorable and grand success.

      

  • A Texas Tech Project Aims to Make Pedestrians and Rural Intersections Safer

    A new pilot project spearheaded by researchers from the Edward E. Whitacre Jr. College of Engineering at Texas Tech University hopes to create safer traffic conditions for pedestrians and drivers by providing real-time warnings. This comes at a time when pedestrian deaths nationwide have risen by 50% since 2014, as reported by the National Highway Traffic Safety Administration. 

    Pedestrian-involved and failure-to-yield crashes are especially pronounced in rural areas where roads are not well lit at night, designated crosswalks are spread far apart or not present and traffic can be infrequent and move at higher speeds than urban or suburban areas. 

    The Texas Department of Transportation (TxDOT) reported 772 pedestrians died on Texas roads in 2024. While this is a slight decrease from the 808 pedestrian deaths reported the previous year, it’s still an increase of nearly 60% since 2014. Failing to yield the right-of-way was identified as a major factor for severe and fatal crashes for both pedestrians and drivers, especially in West Texas. 

    The project is co-led by Hongchao Liu, professor in the Department of Civil, Environmental & Construction Engineering, and Changzhi Li, associate academic dean of research and graduate programs in Electrical & Computer Engineering. 

    The team recently received a nearly $1.75 million grant from the U.S. Department of Transportation to pilot and evaluate a real-time warning and data collection system that uses light detection and ranging (LiDAR) technology to address pedestrian-involved and failure-to-yield crashes.

    Over four years, the team will collect year-round data on driver and pedestrian behavior and near-miss incidents, compare locations with and without the system, and refine the system accordingly. The team will also develop deployment guidance to support broader implementation.

    “We chose to use LiDAR because it would not infringe on pedestrian and driver privacy and does not need external illumination, making it well suited for rural environments,” Liu said. “By rotating a full 360 degrees, it captures and monitors every movement in the surrounding area without blind spots.”

    According to Liu, Lubbock serves as a representative example of rural and semi-rural West Texas. Since 2016, Lubbock has seen pedestrian-involved crashes increase by over 40% and failure-to-yield crashes increase by over 22%. Some of the Lubbock high-crash corridors include U.S. Routes 84, 62 and 70, South Loop 289, Interstate 27, state Highway 114 and 82nd Street.

    The LiDAR devices will be installed at crosswalks between intersections and integrated with existing stop signs at select high-risk intersections located throughout the South Plains Association of Governments (SPAG) region, which includes Lubbock County and 14 other surrounding counties. 

    Along with LiDAR-based hardware, the system will use algorithms designed for processing point cloud data onsite and structuring decision-making frameworks. Data will be collected every tenth of a second when the devices are active, which should allow for real-time warnings.

    Consider the ways rural highways differ from urban roadways. The infrastructure is updated far less frequently, lighting can be sparse and the travel speeds are considerably higher. These factors create more severe safety risks for pedestrians and drivers. 

    While lights on signals and signs can initially be effective at capturing a driver’s attention and lead to more cautious driving, the long-term effects tell a different story.

    “TxDOT reports after about six months, people become used to the lights and start ignoring the signs,” Liu said. 

    In comparison, the team’s devices would provide an additional layer of protection by delivering real-time warnings when potential hazards are detected ahead at a specific moment. 

    Liu notes that radar will also be evaluated because the devices will need to cover a range between 300 and 400 meters, roughly a quarter of a mile, at high speed corridors. The devices will always be on but would only automatically trigger a flashing light to warn drivers once a pedestrian, another vehicle or other potential hazard is detected. 

    “This way, people will realize when the sign is flashing they have to be careful because pedestrians are present or traffic is approaching,” he said. “Psychologically, this works quite differently.”

    The devices will also collect and analyze data, creating a dashboard tool for the SPAG counties. The hope is this can offer officials access to data on pedestrian-involved and failure-to-yield crashes quicker and provide trends and predictive analysis. 

    If this pilot project is successful at its current demonstration phase, Liu says it will enter an implementation phase where the devices will be used in a larger area to better show their effectiveness. 

    At his core, Liu is an engineer in applied transportation. His work, as this project shows, is predicated on the idea that his research can be applied in the real world and have meaningful impact far and wide across Lubbock, West Texas and the U.S.

    “My goal is to ensure that the work I have done can bring meaningful benefit to people,” he said. “If our work can help prevent even a single fatal crash and save one or two lives, that would be deeply meaningful to me.”

  • India–EU Partnership Enters Stronger Phase of Engagement: Sitharaman at Europe Day 2026

    New Delhi, May 9 (BNP): Finance Minister Nirmala Sitharaman said that the India–European Union partnership has gained fresh momentum, reflecting deeper cooperation across economic, trade, and strategic areas.

    Speaking at the Europe Day 2026 event, she noted that the relationship between India and the EU has steadily strengthened, supported by shared priorities such as economic stability, sustainable growth, and a fair global trading system.

    She highlighted that both sides are actively working to expand collaboration in key areas including trade, investment, technology, clean energy transition, and strengthening supply chains. According to her, these efforts are helping convert long-standing strategic understanding into concrete outcomes for businesses and economies on both sides.

    Sitharaman also underlined that India and the EU, as major global economic partners, have significant scope to deepen cooperation in emerging sectors while jointly addressing global economic challenges. She expressed optimism that continued dialogue and engagement will further enhance the partnership in the coming years.

    The statement reflects the growing importance of India–EU relations in supporting global economic stability and advancing shared development goals.

  • 60 Minutes to Fresh Air: How Mumbai’s Homebuyers Are Chasing Cleaner Living Beyond City Limits

    May 09: For a city that never sleeps, breathing easy is increasingly becoming a luxury. With air quality levels in Mumbai witnessing periodic spikes and concerns around long-term health risks growing, a new trend is quietly reshaping the residential real estate landscape; homebuyers are willing to trade a longer commute for cleaner air, open spaces, and a better quality of life.

    60 Minutes to Fresh Air: How Mumbai’s Homebuyers Are Chasing Cleaner Living Beyond City Limits

    What’s driving this shift is a simple yet powerful proposition: within 60 minutes from Mumbai, one can access locations that offer significantly better air quality, lower population density, and a closer connection to nature. As a result, peripheral micro-markets such as Karjat, Neral, Panvel, and Khopoli are emerging as strong contenders for both end-users and investors.

    These locations, once considered weekend getaway destinations, are now evolving into viable residential and second-home hubs. Improved infrastructure, including enhanced road connectivity, upcoming rail upgrades, and transformative projects like the Mumbai Trans Harbour Link (MTHL), have drastically reduced travel time, making these areas more accessible than ever before.

    Developers are also aligning with this demand shift, offering projects that emphasize wellness-centric living—larger homes, green landscapes, better ventilation, and amenities that cater to a healthier lifestyle. The pandemic has further accelerated this mindset change, pushing homebuyers to prioritize well-being over proximity to business districts.

    Commenting on the trend, Ms. Unnati Varma, Director, ORA Land (by ORA Group), said,

    “Today’s homebuyer is far more conscious about the quality of life than ever before. Peripheral locations within 60-minutes radius of Mumbai are gaining traction not just for end-use but also as smart investment opportunities, given their high appreciation potential. At ORA Land, we are seeing a strong demand for plotted developments and second homes in Karjat and surrounding regions, especially from Mumbai-based buyers looking for a quick escape from urban pollution.”

    Echoing similar sentiments, Mr. Ram Naik, Co-founder & CEO, The Guardians Real Estate Advisory noted,

    The definition of real estate value is gradually evolving. While proximity to workplaces was traditionally the primary consideration, homebuyers today are placing increasing importance on health, wellness, and overall quality of life. Clean air, lower-density living, and access to open spaces are becoming important decision-making factors, particularly among families and hybrid-working professionals. As infrastructure connectivity improves, locations such as Karjat, Panvel, and Neral are emerging as viable residential alternatives that offer a healthier and more balanced living environment. What began as a second-home trend is now gradually evolving into a more mainstream residential choice for many buyers.

    Adding a regional perspective, Mr. Gautam Thacker, Founder President & Chairman, NAREDCO Raigad said,

    “Raigad district is fast emerging as a preferred real estate destination due to its natural advantages and rapidly improving infrastructure. Locations such as Karjat, Neral, Panvel and surroundings benefit from excellent connectivity through major highways, railway networks and the Navi Mumbai International Airport, which is expected to significantly boost accessibility and regional growth. Additionally, the presence of natural water sources such as rivers, lakes, and dams across the region enhances the quality of life and makes these destinations highly attractive for homebuyers seeking a healthier and more sustainable living environment. With cleaner air, scenic surroundings, and strong future growth potential, these markets are witnessing rising buyer interest as well as increased developer activity.”

    The rising inclination toward these greener pastures is also supported by a growing awareness around environmental sustainability and lifestyle upgrades. For many, owning a home in these locations is no longer just a luxury, it’s a necessity driven by health considerations.

    As Mumbai continues to grapple with urban challenges, the idea of “60 minutes to fresh air” is no longer aspirational, it’s actionable. And for a growing segment of homebuyers, the road to better living quite literally begins just beyond the city’s edge.

  • Markets Have Already Adjusted to Slower Growth and Higher Inflation, Says SEBI Analyst

    May 9 (BNP): A SEBI analyst has said that financial markets have already taken into account expectations of weaker GDP growth and rising inflation following recent shocks in global oil prices.

    According to the analyst, investors have been gradually pricing in the impact of higher crude oil costs, which are likely to put upward pressure on inflation and weigh on economic growth. As a result, much of the expected downside has already been reflected in current market levels.

    Despite concerns over global uncertainty and energy price volatility, markets have shown a degree of stability, suggesting that participants are not being caught off guard by these macroeconomic risks.

    Overall, the commentary indicates that while inflationary pressures and slower growth remain key concerns, they are largely anticipated by investors rather than emerging as fresh surprises.

  • India Pushes for Quick Resolution of Issues in EFTA Trade Pact to Boost Benefits

    May 9 (BNP): India has called for the early resolution of implementation-related issues in its trade agreement with the European Free Trade Association (EFTA) to ensure that businesses on both sides can fully benefit from the pact, according to an official statement.

    India Pushes for Quick Resolution of Issues in EFTA Trade Pact to Boost Benefits

    The India–EFTA Trade and Economic Partnership Agreement (TEPA), which came into effect in October 2025, was a key focus during Commerce Secretary Rajesh Agarwal’s recent visit to Switzerland on May 6–7. The visit aimed at strengthening trade and investment cooperation and improving the on-ground implementation of the agreement.

    During discussions, India emphasised the need to address operational and regulatory challenges at an early stage so that the market access opportunities under TEPA can be effectively utilised by exporters, investors, and industry stakeholders from both regions.

    Officials noted that the agreement is already showing encouraging early results. Within 200 days of its implementation, new Indian product categories have entered the Swiss market, services trade has expanded, and investor interest between India and EFTA countries has strengthened.

    India reiterated that smoother implementation and timely resolution of outstanding issues will be crucial in maximising the benefits of TEPA and deepening long-term economic engagement with the EFTA bloc, which includes Switzerland, Norway, Iceland, and Liechtenstein.

  • New Income Tax Act 2025 Aims to Simplify Filing, Expand India’s Taxpayer Base

    New Delhi, May 9 (BNP): India’s newly introduced Income Tax Act 2025 is being positioned as one of the country’s most significant tax simplification reforms in recent years, with the government focusing on making tax filing easier, clearer, and more accessible for ordinary citizens.

    New Income Tax Act 2025 Aims to Simplify Filing, Expand India’s Taxpayer Base

    Speaking at a taxpayer awareness programme in Mumbai, Chief Commissioner of Income Tax (IT & TP) Nirupama Kotru said the new law, along with the upcoming Income Tax Rules 2026, has been designed to reduce complexity in the tax system and encourage greater voluntary compliance.

    According to Kotru, the reforms aim to help individuals understand and file their taxes independently without relying heavily on chartered accountants or tax professionals for basic returns. She noted that many citizens still perceive tax filing as overly technical and difficult, often discouraging them from entering the formal tax system altogether.

    To address these challenges, the government has introduced several taxpayer-friendly measures under the new framework. These include simplified language in the legislation, fewer sections and technical provisions, multilingual informational brochures, and digital support tools such as the “Aaykar Sathi” chatbot. Dedicated guidance resources have also been made available through the Income Tax Department’s online platforms to assist taxpayers in resolving queries more easily from home.

    Kotru clarified that while the structure and presentation of the law have been simplified, there has been no major shift in India’s overall tax policy. She stated that India continues to maintain one of the more taxpayer-friendly tax regimes globally, supported by relatively low tax rates and progressive reforms introduced over the years.

    The new Income Tax Act is particularly important because it seeks to remove long-standing barriers that have prevented many individuals from participating in the formal tax ecosystem. Complex terminology, difficult procedures, and confusion around different sources of income have historically made tax compliance intimidating for first-time or small taxpayers. In many cases, even honest taxpayers struggled with filing errors due to lack of clarity.

    Officials believe the simplified format of the new law will improve public understanding of tax obligations, reduce unintentional mistakes, and build greater confidence among taxpayers. By making compliance easier, the government hopes to gradually widen India’s relatively narrow taxpayer base and strengthen overall revenue participation.

    The reform also reflects the government’s broader push toward digital governance and citizen-centric public services. Tools such as AI-enabled chat support and simplified online guidance are expected to make the filing process more transparent, efficient, and accessible, especially for salaried individuals, small business owners, and first-time filers.

    With the upcoming filing season expected to be governed by the new framework, tax authorities will closely monitor how effectively the simplified system improves compliance and encourages more citizens to file returns independently.

  • Commerce Secretary Visits Switzerland to Strengthen India–EFTA Trade Partnership

    New Delhi, May 9 (BNP): Commerce Secretary Rajesh Agarwal concluded an official visit to Switzerland aimed at strengthening bilateral trade and investment ties and accelerating the implementation of the India–EFTA Trade and Economic Partnership Agreement (TEPA). The visit underscored India’s commitment to deepening economic engagement with Switzerland and the wider European Free Trade Association (EFTA) region.

    TEPA represents a major milestone in India’s international trade strategy, marking the country’s first trade agreement with the EFTA bloc and its first operational trade partnership with a European economic grouping. The agreement is expected to unlock new opportunities for businesses, exporters, investors, startups, MSMEs, and professionals across both regions.

    During the visit, the Commerce Secretary held bilateral discussions with Helene Budliger Artieda, State Secretary at the Swiss State Secretariat for Economic Affairs (SECO). The meeting focused on reviewing progress made since the agreement became operational and identifying measures to further enhance trade, investment, regulatory cooperation, and business-to-business engagement.

    Both sides discussed the importance of addressing implementation-related challenges at an early stage to ensure industries and enterprises can fully utilise the benefits offered under TEPA. Discussions also covered improving market access, reducing non-tariff barriers, and strengthening institutional cooperation to support long-term economic partnerships.

    As part of the visit, Rajesh Agarwal also participated in the 55th St. Gallen Symposium, where India’s growing global economic role and trade ambitions were highlighted. In a keynote video address delivered at the symposium, Commerce and Industry Minister Piyush Goyal stated that India has signed nine Free Trade Agreements with 38 developed countries under the leadership of Prime Minister Narendra Modi, creating expanded opportunities across sectors including manufacturing, services, agriculture, fisheries, startups, and MSMEs.

    The Minister emphasised that India’s trade agreements are designed to improve competitiveness, strengthen supply chains, encourage investment flows, and provide Indian businesses with greater access to high-value global markets. He noted that these agreements are helping Indian enterprises integrate more effectively into international value chains while supporting sustainable export growth.

    Highlighting the early success of TEPA, the Minister observed that within just 200 days of implementation, several new Indian product categories have entered the Swiss market, services trade has gained momentum, and investment interest between the two countries has strengthened considerably.

    He further noted that India’s large consumer base, robust digital public infrastructure, skilled workforce, expanding industrial capabilities, and ongoing economic reforms position the country as a reliable long-term economic partner for Switzerland and the broader EFTA region.

    TEPA is expected to facilitate deeper integration of “Make in India” products into European value chains, with Switzerland serving as an important gateway for Indian exports into Europe. The agreement is also anticipated to create wider opportunities for farmers, fishermen, forest-based communities, women entrepreneurs, youth, startups, MSMEs, and skilled professionals.

    Under TEPA, EFTA countries have provided improved market access on 92.2 per cent of tariff lines, covering nearly 99.6 per cent of India’s exports, along with tariff concessions on processed agricultural products.

    India–Switzerland economic relations continue to grow steadily. India’s exports to Switzerland exceeded $1.2 billion during FY 2025–26, while services exports to Switzerland reached approximately $6.88 billion in 2024, generating a strong services trade surplus for India.

    The visit concluded with both sides reaffirming their commitment to sustained government-level dialogue, stronger industry collaboration, and deeper economic integration under the India–EFTA partnership framework.