Category: Business

New Monthly Production Index to Enhance Tracking of India’s Services-Led Growth

New Delhi: In a significant step towards strengthening economic data monitoring, the Government of India is set to launch a Monthly Production Index for the services sector in July, providing policymakers, businesses and investors with a more comprehensive view of the country’s economic performance.

The new index is expected to bridge a key data gap by offering high-frequency insights into the services sector, which contributes more than half of India’s Gross Domestic Product (GDP) and serves as a major driver of economic growth, employment and investment.

Officials said the initiative is aimed at improving the measurement of economic activity by providing timely indicators on output trends across major service industries. The index will enable stakeholders to track growth patterns more accurately and assess the health of the economy on a monthly basis.

The move comes at a time when India’s services sector continues to play a crucial role in supporting economic expansion, driven by strong performance in areas such as financial services, information technology, telecommunications, transport, hospitality and professional services.

Experts believe the introduction of the monthly index will strengthen India’s statistical infrastructure and align economic reporting standards with leading global economies that already publish high-frequency services data.

The index is also expected to assist policymakers in making quicker and more informed decisions by providing real-time insights into sectoral performance, demand conditions and emerging economic trends.

Industry analysts have welcomed the initiative, noting that improved data availability can enhance transparency, support investment planning and provide greater clarity on the pace and direction of economic growth.

The launch of the Monthly Production Index reflects the government’s continued efforts to modernise economic data systems and improve the quality of information available for policy formulation and business decision-making.

New Delhi, June 24: Chinese Foreign Minister Wang Yi met Prime Minister Narendra Modi to discuss ways to deepen cooperation between India and China and strengthen bilateral engagement across multiple areas of mutual interest.

During the meeting, both sides reviewed the current state of relations and exchanged views on enhancing dialogue and stability in ties between the two neighbouring countries.

Wang Yi emphasised the importance of expanding cooperation and maintaining constructive engagement to promote regional stability and mutual development. He noted that closer collaboration between India and China could contribute positively to broader global and regional challenges.

Prime Minister Narendra Modi underscored the need for maintaining peace and stability along the border areas and highlighted the importance of building a relationship based on mutual respect, sensitivity and shared interests.

Both sides acknowledged the significance of regular communication at high levels to address concerns and explore opportunities for cooperation in areas such as trade, investment and people-to-people exchanges.

The meeting reflects ongoing diplomatic efforts to manage differences and strengthen engagement between the two major Asian economies.

New Delhi, June 24: India continues to showcase resilience in the face of global economic and geopolitical uncertainties, with strong participation from domestic investors helping stabilize financial markets, according to a recent report.

The report highlights that despite external challenges such as geopolitical tensions, fluctuating commodity prices and global economic slowdowns, India’s financial markets have remained relatively stable due to sustained inflows from domestic investors.

Growing participation from retail investors, mutual funds and domestic institutional investors has provided a strong cushion against volatility triggered by foreign capital movements. This trend has helped maintain investor confidence and support market performance during periods of global turbulence.

Analysts noted that India’s robust macroeconomic fundamentals, expanding digital economy and steady economic growth outlook continue to attract long-term investment interest. The increasing role of domestic capital has also reduced the market’s dependence on foreign institutional flows.

The report further stated that rising financial awareness, greater access to investment platforms and increasing household participation in equity markets have strengthened the country’s investment ecosystem.

Experts believe that the growing influence of domestic investors will remain a key factor in supporting market stability and enhancing India’s ability to navigate global economic shocks in the years ahead.

Mumbai, June 24: Adani Electricity has intensified its monsoon preparedness measures to ensure uninterrupted power supply and safeguard nearly 3.15 million consumers across Mumbai during the rainy season.

The company has implemented a comprehensive contingency plan aimed at minimizing disruptions caused by heavy rainfall, waterlogging, strong winds and other weather-related challenges commonly experienced during the monsoon months.

As part of its preparedness strategy, Adani Electricity has strengthened its network infrastructure, conducted preventive maintenance of substations and distribution systems, and deployed dedicated emergency response teams across key locations in its service area.

Officials said round-the-clock monitoring systems have been activated to quickly identify and address any potential faults, while critical equipment and backup resources have been positioned to ensure rapid restoration of services if required.

The utility has also undertaken inspections of power installations in flood-prone areas and enhanced coordination with local authorities and emergency agencies to improve response capabilities during adverse weather conditions.

With Mumbai entering the peak monsoon period, the company said customer safety and service reliability remain top priorities. Consumers have also been advised to follow electrical safety guidelines and report any power-related issues through the company’s customer service channels.

The preparedness measures reflect Adani Electricity’s ongoing commitment to maintaining reliable power supply and ensuring operational resilience during one of the city’s most challenging weather seasons.

New Delhi, June 24: India’s accelerating adoption of solar energy is emerging as a major driver of green job creation, with a new report highlighting the sector’s growing contribution to employment and sustainable economic development.

According to the report, the expansion of solar power capacity is generating opportunities across the value chain, including manufacturing, project development, installation, operations, maintenance and related support services.

The growth of the solar sector is being supported by increasing investments in renewable energy, favourable policy initiatives and the country’s commitment to expanding clean energy capacity. These developments are helping create a new generation of jobs aligned with the transition to a low-carbon economy.

Industry experts said the renewable energy sector is not only contributing to India’s energy security goals but is also opening up employment opportunities for skilled, semi-skilled and rural workers.

The report noted that as solar installations continue to scale across utility, commercial and residential segments, demand for trained professionals in engineering, technical services and clean energy management is expected to rise significantly.

Experts believe the solar industry will play a crucial role in supporting sustainable growth, fostering innovation and creating future-ready employment opportunities as India advances its clean energy transition.

With renewable energy becoming a key pillar of economic development, the solar sector is expected to remain a major source of green jobs in the years ahead.

FIA President Mohammed Ben Sulayem says new scholarship supports next generation byopening doors to management careers in motorsport

Dubai, UAE, June 24: The Fédération Internationale de l’Automobile (FIA), the global governing body for motor sport and the federation for mobility organisations worldwide, today announced that Omani Sanad Al Rawahi has been named the first-ever recipient of the FIA Scholarship for the Master’s in International Sports Management.

Delivered in partnership with the European Sport Business School (ESBS) in Spain, the scholarship offers aspiring motor sport professionals the opportunity to develop the skills, knowledge and network required to build a career in the global sports industry.

Provided through the FIA University Scholarship Programme, it creates new pathways into motor sport for talented individuals from a wide range of backgrounds.

Al Rawahi, Motorsport Manager at the Oman Automobile Association, brings more than a decade of experience managing race facilities, coaching drivers and delivering national and international events.

He has progressed from marshal and racing coach to leading the development and growth of motor sport across Oman. A graduate of the FIA’s Immersion Programme (2024) and Advanced Leadership Programme (2025), he exemplifies the scholarship’s mission to develop motor sport leaders from emerging nations.

H.E. Mohammed Ben Sulayem, FIA President, said: “This new scholarship opens doors to management careers in motorsport, ensuring that future leaders are defined by their potential and ambition.

“As part of our FIA University Scholarship Programme, this addition reflects our commitment to supporting the next generation by expanding opportunities around the world. Congratulations to Sanad as the first scholar to begin this exciting journey, I wish him all the success.”

Sanad Al Rawahi, FIA ESBS Scholar, said: “Winning the FIA Scholarship is a real honour and a milestone in my motor sport journey. It gives me the opportunity to learn from some of the best in the industry, and I hope to bring that knowledge back to Oman to help develop local talent and contribute to the growth of motor sport across the region.”

The Master of International Sports Management prepares students for leadership roles across the sports industry through a practical, industry-focused approach.

Established in 2009, it is recognised as one of the leading sports management degrees in Spain and Europe, and has consistently ranked as the top Master’s of its kind in Spain since 2017. The scholarship covers full tuition fees alongside a contribution towards travel and living costs in Spain.

Jorge Coll, ESBS Founder and Honorary President at ACE Education Spain, said: “We are delighted to welcome the first FIA scholar to the Master’s in International Sports Management. Sanad’s experience and ambition embody exactly the kind of leadership this programme is designed to nurture.”

Further information about the scholarship and how to apply can be found at fia.university or by emailing scholarship@fia.com.

Bengaluru, June 24: Genesys, a global cloud leader in AI-Powered Experience Orchestration, today released findings from a new study conducted in partnership with Dun & Bradstreet examining the trends in customer experience across India’s Banking, Financial Services and Insurance (BFSI) sector. The report, unveiled at the Partner Awards Summit 2026 at BKC, Mumbai, reveals a significant gap between the pace of rising customer expectations and the operational readiness of BFSI organisations to meet them.

Based on a survey of more than 100 senior leaders across India’s banking, insurance, NBFC, fintech and wealth management sectors, the study finds that BFSI is no longer competing against industry peers alone. It is being benchmarked against the best digital experiences customers encounter across any sector. Yet while 41% of BFSI organisations report CX is now a board-level priority and 66% are investing in AI-assisted agent productivity, critical gaps remain in the underlying infrastructure required to translate faster interactions into genuine resolution outcomes.

Key findings from the study include:

BFSI leaders say customer expectations have shifted to real-time

• 72% of BFSI leaders say customers expect instant resolution  queries resolved in minutes, not hours or days.
• 60% report that transparency expectations have risen significantly, with customers demanding visibility into processes and fees.
• 52% say customers expect proactive engagement, wanting to hear from BFSI providers before they have to ask.

AI adoption is accelerating but governance readiness is lagging

• 66% of BFSI leaders cite AI-assisted agent productivity as their top CX priority for the next 12–18 months.
• Just 8% of BFSI leaders say their organisations have scaled AI deployment with governance and KPIs in place; 31 percent are still at the pilot stage.
• Only 36% of BFSI leaders say their organisations are actively redesigning workflows for faster resolution, exposing a gap between customer expectations and operational readiness.
• 69% of BFSI leaders cite data quality and fragmentation as the leading modernisation barrier, followed by legacy core system and CRM integration challenges (53%).
• 51% of BFSI leaders identify regulatory and data privacy constraints, including DPDP, RBI, and IRDAI, as a top barrier to CX modernisation.
• 74% of Non-Banking Financial Company (NBFC) leaders identify data fragmentation as their primary barrier — the highest of any sector, making personalisation and proactivity difficult to deliver at scale.

CX has earned boardroom attention and is a key revenue driver

• 41% of BFSI leaders have seen CX elevated to a board-level priority.
• 38% see CX as a key revenue growth engine; another 38% view it as a trust and differentiation lever.

Orchestrating cross-channel, AI and human experiences is the future

• 73% of BFSI leaders identify WhatsApp and messaging platforms as the fastest-growing CX channel over the next three years, followed by mobile app interactions (69%).
• 32% believe proactive, predictive service will be the defining differentiator for Indian BFSI CX leaders over the next 2–3 years.
• 90% of FinTech leaders identify mobile app interactions as the fastest-growing channel — the highest sector figure in the survey.

“The findings highlight a clear gap between consumer expectations for instant resolution and how BFSI organizations in India are redesigning workflows. At Genesys, we believe the next competitive frontier in BFSI will not be won by technology alone; it will be defined by organisations that can unify people, data, AI and channels into a single experience orchestration model that delivers both operational efficiency and customer loyalty at scale,” said Raja Lakshmipathy, Vice President & Managing Director, India & SAARC, Genesys.

“As India’s BFSI sector enters a decisive phase, this research provides leaders with the data-backed clarity they need to act with confidence. Our findings highlight a critical disconnect between boardroom ambition and operational reality. While BFSI leaders have successfully elevated customer experience to a strategic priority, many are hitting a wall at the execution level. The challenge is no longer about the desire to modernise, but the ability to overcome the structural complexities of fragmented data and legacy integration. For an industry built on trust, the next competitive frontier will be defined by those who can bridge this gap by transforming siloed information into a unified engine for the real-time, proactive service that today’s digital-first customers demand,” said Govind Joshi, Chief Operating Officer, Dun & Bradstreet India.

“The findings of this report reflect the reality of the Indian BFSI landscape, that is, speed and trust are now non-negotiable. While the industry faces significant hurdles with data quality and legacy integration, Tyger Capital has moved from fragmented touchpoints to a unified, responsive model that allows us to deliver the instant resolution our customers expect. For us, this isn’t just about technology; it’s about having the operational clarity to deliver on our brand promise,” said Naved Hussain, Head of IT & Business Solutions Group at Tyger Capital.

Methodology

This report is based on a primary research study by Dun & Bradstreet and Genesys and assesses the current state of customer experience (CX) transformation across the BFSI industry in India.

The study captures how organisations are responding to rapidly evolving customer expectations, the priorities shaping CX investments, and the structural challenges affecting CX delivery at scale.

The study is anchored in an online survey of 104 senior leaders from the BFSI industry, spanning banking, insurance, non-banking financial companies (NBFCs), FinTechs, and wealth and asset management organisations. Respondents represent leadership across a diverse set of functional areas — including product, operations and strategy, marketing, information technology and digital, and customer service — providing a well-rounded view of how CX priorities are being shaped and executed at the sector level as well as across the overall BFSI landscape in India.

June 24: A new report has highlighted the rapid rise of India’s “insurgent brands,” which together generated over $7.5 billion in revenue in FY25, reflecting strong consumer demand for new-age, digital-first businesses.

These brands, typically characterised by innovative business models, strong digital presence and direct-to-consumer engagement, have been expanding rapidly across sectors such as lifestyle, personal care, food and beverages, and consumer goods.

According to the report, the growth of these brands has been driven by changing consumer preferences, increased online adoption and greater willingness among younger consumers to explore alternative products beyond traditional market leaders.

Industry observers note that improved access to digital platforms, logistics networks and funding ecosystems has enabled these brands to scale quickly and compete with established players in the market.

The report also highlights that insurgent brands are increasingly focusing on niche markets, product differentiation and community-driven marketing strategies to build strong customer loyalty.

Experts believe the segment is expected to continue expanding as India’s digital economy matures, creating new opportunities for entrepreneurship and innovation in the consumer sector.

New Delhi, June 24 : India and the United States have concluded a series of meetings aimed at advancing a mutually beneficial bilateral trade agreement, focusing on expanding economic cooperation and deepening trade and investment ties between the two countries.

Officials from both sides reviewed ongoing discussions and explored pathways to enhance market access, strengthen supply chain resilience and promote balanced trade growth.

The talks are part of continuing efforts to build a comprehensive trade framework that supports businesses, improves economic opportunities and encourages greater collaboration across key sectors including goods, services and emerging technologies.

Both countries reaffirmed their commitment to working together to address outstanding issues and create a more predictable and stable trade environment for businesses and investors.

The discussions also highlighted the importance of strengthening bilateral economic relations in the context of evolving global trade dynamics and shared strategic interests.

Further engagement is expected as both sides continue to work toward finalising a mutually beneficial trade pact.q

June 26: On June 24, Feintool officially inaugurated its first production facility in India, located in the industrial hub of Pune. Production is now being ramped up to fulfil initial customer orders, with a focus on fine-blanked automotive components.
 

At the opening ceremony, CEO Lars Reich underlined the strategic relevance of the new site: “Feintool is proud to meet its customers’ demand for local production in India with the facility in Pune. We are in the right place at the right time to benefit sustainably from the momentum in the Indian automotive industry and to capitalize on further opportunities in the growing industrial markets in India.”

With 18 production sites across Asia, Europe, and the United States, Feintool offers large-series manufacturing of high-precision components based on its core technologies: fineblanking, cold forming, and e-lamination stamping.

Marcel Pernici, President of Feintool Asia, highlighted the strengths of Feintool: “With our ‘local-for-local’ approach, we supply our customers directly in their regional markets while leveraging Feintool’s global technological expertise. This makes us more agile and less dependent on geopolitical developments, while ensuring the high level of reliability our customers expect.”

India is already the world’s third-largest automotive market and is expected to grow strongly. At the same time, the country is gaining importance as an export hub. Many of Feintool’s existing automotive customers are expanding their activities in India and require reliable local supplier support.

Tobias Gries, Managing Director India, is responsible for building Feintool’s business in the region: “We have established a strong team in India. With Feintool’s global expertise, we are now ramping up production in Pune—starting with fineblanked automotive seating systems. Looking ahead, we are ready to expand into cold forming, e-motor core production and even hydrogen applications. The plant is fully prepared for further expansion as demand develops.”

The new Pune site reflects Feintool’s core strengths: a clear local-for-local strategy, globally leading technological expertise, and a consistent focus on customer and market needs.