Category: Business

New Delhi, March 19: Cooperative banking institutions in Odisha remain financially stable, with no banks under liquidation and a marginal decline in non-performing assets (NPAs), the government informed the Rajya Sabha.

In a written reply, Union Minister for Home and Cooperation Amit Shah said the state has 9 Urban Cooperative Banks, 18 Rural Cooperative Banks — including one State Cooperative Bank and 17 District Central Cooperative Banks (DCCBs) — and 4,287 Primary Agricultural Credit Societies (PACS).

According to data shared by the Reserve Bank of India (RBI) and NABARD, none of the cooperative banks in Odisha are under liquidation. However, around 725 cooperative societies are currently under liquidation, with outstanding dues of ₹11.08 crore to banks.

The minister said annual audits of these societies are conducted by the Directorate of Cooperative Audit, Odisha.

The asset quality of cooperative banks in the state has shown improvement. The Gross NPA ratio of the Odisha State Cooperative Bank (OSCB) declined from 1.08% as of March 2024 to 0.87% as of March 2025.

Similarly, the cumulative Gross NPA ratio of all 17 DCCBs reduced from 7.33% to 7.18% during the same period.

As of March 2025, seven DCCBs reported NPAs below 5%, eight were in the 5–10% range, and two had NPAs between 10% and 15%.

The financial position of cooperative banks is regularly reviewed by the state government, RBI, and NABARD. NABARD also conducts statutory inspections of the Odisha State Cooperative Bank and DCCBs.

The government said several measures have been implemented to improve governance and financial stability. These include allowing cooperative banks to expand branch networks, offer doorstep banking services, and enhance lending capacity.

Other reforms include higher loan limits, one-time settlement schemes, integration with the RBI’s Integrated Ombudsman Scheme, onboarding on Aadhaar-enabled payment systems (AePS), and inclusion under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).

The Odisha government has also extended financial support to strengthen cooperative banks by contributing to their share capital. Assistance to DCCBs stood at ₹102 crore in 2022–23, ₹73 crore in 2023–24, and ₹28.02 crore in 2024–25.

The government said ongoing regulatory reforms, technological integration, and capital support are aimed at improving governance, reducing financial risks, and strengthening the cooperative banking sector in the state.

The Cabinet Committee on Economic Affairs has approved ₹1,718.56 crore in Minimum Support Price (MSP) funding to the Cotton Corporation of India (CCI) for the 2023–24 cotton season, reinforcing price support mechanisms for cotton farmers.

The funding is aimed at enabling CCI to undertake large-scale procurement when market prices fall below MSP, ensuring farmers receive assured returns and are protected from price volatility.

 

Stabilising Prices, Supporting Farm Incomes

MSP operations play a critical role in preventing distress sales during periods of weak market demand. By stepping in as a buyer of last resort, CCI helps stabilise cotton prices, which has broader implications for both farmers and downstream industries.

India’s cotton economy is substantial, with around 60 lakh farmers dependent on the crop and an estimated 4–5 crore people engaged across the value chain, including ginning, trading, and textiles.

For the 2023–24 season, cotton cultivation covered about 114.47 lakh hectares, with production estimated at 325.22 lakh bales, making India one of the largest global producers with roughly a quarter of total output.

Implications for Textile Industry

Stable cotton prices are crucial for India’s textile sector, which relies heavily on domestic raw material supply. MSP-backed procurement can help ensure consistent availability of cotton, reducing supply-side uncertainties for manufacturers.

However, large-scale procurement can also influence market dynamics by tightening open market supply in the short term, potentially impacting prices for mills depending on the scale and timing of CCI interventions.

Expanding Procurement Network

CCI has strengthened its procurement infrastructure, operating over 508 centres across 152 districts in 11 major cotton-growing states. This wide network improves farmer access to MSP operations, particularly in key producing regions.

The agency continues to procure Fair Average Quality (FAQ) cotton without any quantity cap, ensuring that farmers can sell their produce at MSP whenever market prices fall below the threshold.

Technology Push in Procurement

The corporation has also introduced digital tools to improve transparency and efficiency. Initiatives such as the Bale Identification and Traceability System (BITS) and the “Cott-Ally” mobile app aim to streamline procurement processes and improve communication with farmers.

These measures could help reduce delays, improve traceability, and enhance trust in MSP operations.

Fiscal and Policy Perspective

The MSP funding reflects the government’s continued reliance on price support mechanisms to stabilise farm incomes. While such interventions provide immediate relief to farmers, they also carry fiscal implications and can influence market behaviour over time.

Outlook

The approval comes at a time when global cotton markets remain sensitive to demand fluctuations and supply disruptions. A strong MSP-backed procurement framework could help shield Indian farmers from global volatility while ensuring raw material stability for the domestic textile industry.

The effectiveness of the intervention will depend on procurement efficiency, market conditions, and how well supply is balanced between government stocks and industry demand.

In a move aimed at strengthening regional connectivity and cross-border trade, the Cabinet Committee on Economic Affairs has approved the construction of a four-lane access-controlled National Highway-927 from Barabanki to Bahraich in Uttar Pradesh. The 101.5 km project will be developed at a cost of ₹6,969.04 crore under the Hybrid Annuity Mode (HAM).

The project is expected to significantly improve logistics efficiency in eastern Uttar Pradesh while enhancing trade linkages with Nepal through the Rupaidiha Land Port near the Nepalganj border.

Logistics and Trade Gains

The upgraded highway is designed to reduce travel time between Barabanki and Bahraich to nearly one hour, improving freight movement and lowering transportation costs. By easing congestion and improving road geometry, the corridor is likely to enhance fuel efficiency and reduce vehicle operating expenses for logistics operators.

The project will connect multiple economic, social, and logistics nodes, including 12 logistics hubs, strengthening supply chain networks in the region. Improved connectivity to airports and trade gateways is expected to further support cargo movement.

Boost to Cross-Border Commerce

With improved access to the Rupaidiha Land Port, the highway is poised to play a key role in facilitating India–Nepal trade. Faster transit times and better infrastructure could increase the volume of goods moving across the border, particularly agricultural produce and small-scale industrial goods.

Industry observers note that better road connectivity in border areas can help reduce delays and inefficiencies that often impact cross-border trade.

Investment and Regional Growth

The project is expected to unlock economic potential in districts such as Bahraich and Shravasti by improving access to markets and attracting new investments. Enhanced connectivity could also support sectors like agriculture, tourism, and small-scale manufacturing.

Under the HAM model, private players will participate in project execution, ensuring a mix of public funding and private sector efficiency. The model has become a key instrument in India’s highway development strategy, helping to accelerate infrastructure creation while managing fiscal risks.

Construction and Employment Impact

Beyond long-term gains, the project is expected to generate employment during the construction phase and create opportunities in ancillary sectors such as logistics, roadside services, and maintenance.

Outlook

The Barabanki–Bahraich highway project aligns with the government’s broader focus on improving logistics infrastructure under the PM GatiShakti initiative. By integrating road networks with economic and trade nodes, the project aims to enhance overall supply chain efficiency.

If executed on schedule, the corridor could emerge as a key logistics link in northern India, supporting both domestic commerce and cross-border trade flows.

The Union Cabinet’s approval of the ₹33,660 crore Bharat Audyogik Vikas Yojna (BHAVYA) marks a significant shift in India’s industrial policy, from land allocation and incentives to fully serviced, plug-and-play manufacturing ecosystems.

At its core, BHAVYA attempts to solve a long-standing problem in India’s industrial landscape: delays between investment intent and actual production. By offering pre-cleared land, ready infrastructure, and integrated services, the scheme aims to compress this timeline dramatically.

Moving Beyond Industrial Corridors

The scheme builds on the National Industrial Corridor Development Programme (NICDP), which focused on large, strategically located industrial regions. However, BHAVYA expands this model in two important ways.

First, it decentralizes industrial development by spreading 100 parks across states and Union Territories. Second, it introduces a more execution-focused approach, where readiness of infrastructure becomes the key selling point rather than just location or policy incentives.

This suggests a policy evolution from macro-planning to micro-level execution.

Plug-and-Play: Solving India’s Entry Barrier Problem

One of the biggest deterrents for investors in India has been procedural complexity and infrastructure gaps. Even after approvals, companies often face delays due to land issues, utilities, or logistics bottlenecks.

BHAVYA directly targets this friction. By ensuring that land is pre-approved and infrastructure is in place, the government is effectively lowering the cost and uncertainty of entry.

If implemented well, this could particularly benefit MSMEs and global manufacturers looking to diversify supply chains away from single-country dependencies.

Competitive Federalism in Action

The “challenge mode” selection of projects introduces a competitive dynamic among states. Only those offering reform-oriented, investment-ready proposals will qualify for central support.

This approach aligns with a broader trend of competitive federalism, where states compete on ease of doing business, infrastructure readiness, and policy stability. It also shifts responsibility to states to deliver reforms rather than rely solely on central funding.

Infrastructure Depth, Not Just Scale

The scheme’s design indicates a move toward deeper infrastructure development rather than just expanding industrial land.

Support for core, value-added, and social infrastructure reflects a recognition that industrial ecosystems require more than factories. Worker housing, logistics facilities, testing labs, and digital systems are critical for sustained productivity.

The inclusion of underground utility corridors and green energy systems also signals a push toward more efficient and sustainable industrial zones, potentially reducing long-term operational disruptions.

Economic Multiplier and Job Creation

With parks ranging from 100 to 1,000 acres, BHAVYA is expected to generate significant employment across manufacturing, logistics, and services. The clustering of industries could also strengthen domestic supply chains and reduce dependence on imports.

However, the real multiplier effect will depend on how quickly these parks attract anchor investors. Without early movers, infrastructure risks remaining underutilized, as seen in some past industrial projects.

The Execution Challenge

While the design of BHAVYA is ambitious, its success will hinge on execution at the state and local levels.

Key challenges include:

• Timely land acquisition and clearances

• Coordination between multiple agencies

• Ensuring last-mile connectivity

• Maintaining investor confidence through policy stability

Past experience with industrial parks in India shows that delays and uneven implementation can dilute impact.

Strategic Timing

The scheme comes at a time when global supply chains are being reconfigured, and countries are competing to attract manufacturing investments. India’s push for plug-and-play infrastructure aligns with this global shift.

If executed effectively, BHAVYA could position India as a more predictable and efficient manufacturing destination, complementing initiatives like Production Linked Incentive (PLI) schemes.

Bottom Line

BHAVYA represents a structural shift in India’s industrial strategy, from policy-driven incentives to infrastructure-led competitiveness. It acknowledges that investors value speed, certainty, and ecosystem readiness as much as financial support.

The intent is clear. The outcome will depend on whether India can deliver industrial parks that are not just announced, but fully operational when investors arrive.

The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the Small Hydro Power (SHP) Development Scheme for the period 2026–27 to 2030–31. The scheme has a total outlay of ₹2,584.60 crore and aims to install small hydro power projects with a combined capacity of around 1,500 MW.

The initiative focuses on promoting small hydro projects with capacities between 1 MW and 25 MW across the country. It is expected to significantly benefit hilly regions and North Eastern states, where there is high potential for such projects.

Under the scheme, enhanced financial support will be provided to projects in North Eastern states and districts along international borders. These areas will receive central assistance of up to ₹3.6 crore per MW or 30 percent of the project cost, whichever is lower, subject to a maximum of ₹30 crore per project. In other states, assistance will be up to ₹2.4 crore per MW or 20 percent of the project cost, capped at ₹20 crore per project.

 

Out of the total allocation, ₹2,532 crore has been earmarked for project development. The scheme is expected to attract investments of around ₹15,000 crore in the sector, boosting clean energy capacity and driving development in remote and rural regions. It will also support domestic manufacturing, with 100 percent of plant and machinery expected to be sourced within the country, aligning with the Atmanirbhar Bharat initiative.

Additionally, ₹30 crore has been allocated to support state and central agencies in preparing detailed project reports (DPRs) for approximately 200 future projects. This is aimed at creating a strong pipeline for continued growth in the small hydro sector.

The scheme is projected to generate about 51 lakh person-days of employment during the construction phase, along with long-term jobs in operation and maintenance. Since these projects are decentralized, they require minimal transmission infrastructure, reducing energy losses.

Officials said the initiative will help revive the small hydro power sector and accelerate the use of untapped potential. SHP projects are considered environmentally sustainable as they involve limited land use, minimal deforestation, and low displacement of communities. With a typical lifespan of 40 to over 60 years, these projects are also expected to contribute to long-term socio-economic development in remote areas.

Nottingham, UK,  March 19 – IsomAb Ltd, a UK-based biotechnology company, today announced the appointment of Dr Philip Brainin as Chief Executive Officer (CEO) and member of the Board of Directors. IsomAb is developing transformative isoform‑specific antibody therapeutics for atherosclerotic disease. Dr Brainin is tasked with taking lead candidate ISM-001 for chronic stable angina (CSA) into clinical development. ISM-001’s strong preclinical data showing complete restoration of blood flow in severe ischemic disease models supports the company’s stated goal of delivering a disease-modifying treatment for CSA, a condition affecting 9 million patients in the US alone.

Dr Philip Brainin is physician-scientist with extensive training in clinical cardiology, and brings a unique combination of cardiovascular medicine, clinical research, and venture investing experience across EU and US biotechnology companies. He has invested in multiple early-stage therapeutics companies, advised Boards of Directors including for AnaCardio and NephroDI, and has shaped corporate and business development strategies for portfolio companies to enable financing, partnerships, and exits. 

“With my background in cardiology, I see every day how limited our options are for patients with ischaemic disease,” explains Dr Brainin. “What excites me about IsomAb is that ISM-001 is not just another VEGF therapy. The pioneering mechanistic and pharmacological data generated by the team shows that IsomAb’s unique approach targeting VEGF-A₁₆₅b removes the brakes on angiogenesis that are applied in ischemic disease, allowing blood vessels to grow, remodel and create durable new arteries. Once proof of concept is demonstrated in the clinic, I envisage a clear pathway for regulatory, manufacturing and commercial success.”

Dr Anker Lundemose has been appointed Chair of the Board of Directors of IsomAb, replacing Paul Edwards, who remains as a non-executive Director on the Board. A physician-scientist and seasoned biotech leader at companies such as OSI Pharmaceuticals, Prosidion and Mission Therapeutics, Dr Lundemose has a strong track record in creating successful investor exits through multiple M&As and IPOs.

“With strong preclinical results, a clear translational plan through clinical proof of concept, and Philip’s appointment as CEO, I believe IsomAb offers a major Series A investment opportunity and look forward to working with him to accelerate ISM‑001’s development into a much-needed breakthrough therapy for cardiovascular disease,” adds Dr Lundemose.

SYDNEY, March 19 – Epson has received the prestigious iF DESIGN AWARD 2026 for one series of projectors and one series of printers, all of which are sold both domestically and internationally.

Each year since 1954, iF International Forum Design GmbH, headquartered in Germany, organises the iF DESIGN AWARD, now recognised internationally as one of the most prestigious design competitions.

A jury selects the best and most innovative industrial product designs. This award honours only products that meet a wide range of strict criteria, including practicality, craftsmanship, innovation, environmental consideration, functionality, usability, safety, aesthetics and universal design.

This year, a jury made up of 129 experts selected the best designs from among nearly 10,000 entries from 68 countries and regions.

Award-Winning Designs
Home Projectors: EF-73 (in A/NZ), EF-72, EF-71, EF-52, EF-51

 

Epson EF-73 smart projector

This smart projector is powered by Google TV™¹ OS. Its proprietary Triple Core Engine, combining 3LCD technology with a three-color light source, delivers bright, vivid images with exceptional colour accuracy. Paired with immersive audio from Sound by Bose² speakers, it offers a truly premium viewing experience.

Featuring an angle-adjustable stand inspired by a modern table lamp and real-time automatic image correction, the projector can be set up effortlessly — no complex adjustments required.

An integrated ambient light³ further enhances the atmosphere, enriching any space. Designed to elevate everyday viewing into a special moment, it provides a refined and immersive entertainment experience.

Inkjet Printers

EcoTank ET-4950, ET-3950 and ET-2950 series

 

Independent post-show research following AIME 2026 has projected a record-breaking $425 million (AUD) in business transactions between exhibitors and buyers over the next 12 months, reinforcing AIME’s role as Asia Pacific’s leading business events trade show.

Designed to prioritise quality connections and meaningful business outcomes, AIME carefully matches vetted global buyers with targeted exhibitors through a combination of human expertise and advanced AI-powered scheduling. The result is a focused environment where high-value meetings take place and real business opportunities are created.

Testament to this curation, attendee satisfaction for AIME 2026 was extremely high, with the exhibitor Net Promoter Score reaching 32.6, well above the industry benchmark of 9.6, while the visitor Net Promoter Score of 59.4 significantly exceeds the benchmark score of 30.6.

 

Talk2 Media & Events CEO Matt Pearce said the results reflected the strength of AIME’s targeted and curated approach to meetings.

“AIME is uniquely built around the quality of the connections we create,” he said.

“Our event is carefully curated to ensure the right people are meeting each other, which leads to stronger conversations, better partnerships and real commercial outcomes.

“The projected $425 million in business shows the value of those meetings and the role AIME plays in supporting destinations, venues and suppliers across the Asia Pacific region.”

Melbourne Convention Bureau CEO Julia Swanson said:

“AIME continues to shine as the premier business events trade show in our region and MCB is incredibly proud to own such an impactful event. The ongoing success of AIME reflects the strength of our local business events industry as well as the capacity for Melbourne to host large-scale trade shows that draw exhibitors and buyers from around the world and generate record-breaking amounts of business. 

“We look forward to the continued growth and success of the show as we continue to innovate and provide further opportunities for strong partnerships and excellent outcomes.”

AIME Event Director Silke Calder said the results reflected strong engagement from buyers, exhibitors and partners across the global business events sector.

“AIME continues to grow in both scale and impact, with more of the global industry coming together each year to meet, connect, learn and do business,” she said.

“The strong satisfaction scores from exhibitors and visitors show the quality of the meetings taking place and the importance of AIME as a platform for building new partnerships and future events.”

Delivered by Talk2 Media & Events, AIME 2026 was the largest show yet delivered by Calder and her team.

AIME 2026 also set records for its size, number of hosted buyers, exhibitors and attendees, reflecting strong global demand for in-person meetings and industry connection.

Held at the Melbourne Convention and Exhibition Centre (MCEC) from 9–11 February 2026, the event welcomed more than 1,500 vetted buyers, over 765 exhibitors from 36 countries and territories, and more than 5,000 attendees from the global business events industry.

Across the two-day trade show, more than 25,000 pre-scheduled meetings took place between buyers and exhibitors.

Asia Pacific’s largest and longest-running business events exhibition and learning platform, AIME connects a global community of business events professionals with industry suppliers through a seamless blend of human expertise and cutting-edge artificial intelligence.

AIME is owned by the Melbourne Convention Bureau (MCB) and delivered by Talk2 Media & Events and is the first tradeshow on the annual international business events calendar. 

AIME 2027 will be held 15–17 February 2027 at the Melbourne Convention and Exhibition Centre, with AIME 2028 scheduled for 14–16 February 2028.

Bengaluru, Mar 18: TechnoSport announced the rollout of a refreshed identity, marking a new milestone in its journey as the company accelerates expansion across retail, digital and marketplace channels. At the centre of the brand refresh is the evolution of the Technosport wordmark, having been redesigned with a bold, forward-leaning italic typeface that captures the brand’s spirit of speed, energy and movement.

 The refresh comes at a pivotal moment in TechnoSport’s growth journey, as the brand scales both its market presence and overall business momentum across consumer segments. Backed by vertically integrated manufacturing and a distribution network spanning over 7,000 retailers, the company has built a strong value-performance proposition over 18 years in the Indian market. Today, TechnoSport is in a phase of accelerated expansion, driven by rising demand for accessible performance wear, growing at a CAGR of ~40%, and is on track to sell over 25 million apparel units in FY26, cementing its position as one of the largest activewear players by volume.

Against this backdrop, the identity evolution serves as a natural extension of the brand’s scale and ambition. It reflects TechnoSport’s transition into a sharper, more contemporary performance-wear brand designed for wider relevance and stronger recall across retail, digital, and product touchpoints. The updated typography and visual system enhance clarity and visibility, ensuring consistency and impact as the brand expands across formats, from retail storefronts and exclusive brand outlets to digital and marketplace environments.

Importantly, this evolution does not signal a shift away from the brand’s core. Instead, it reinforces TechnoSport’s positioning as a modern performance brand for the everyday Indian consumer, one that supports a range of active use cases across daily wear, gym, fitness, and sports. Rooted in performance, accessibility, functionality, and versatility, the refreshed identity is a visual expression of a brand that is scaling with purpose while staying true to its value-performance promise.

Speaking on the occasion, Puspen Maity, CEO, TechnoSport, said,

“This brand identity refresh marks an important step in TechnoSport’s next phase of growth. Over the years, we have built strong scale and consumer trust by making high-quality performance wear accessible to a wide base of Indian consumers. As more consumers embrace movement as part of everyday life, whether through daily wear, fitness routines or active sports, it is important that our brand expression reflects the energy, confidence and ambition of the business. The refreshed identity signals our intent to strengthen TechnoSport’s presence across channels and continue building one of India’s leading performance wear brands.”

Adding to this, Patralika Agrawal, Head of Marketing, TechnoSport, said,

“With this refreshed identity, we wanted to retain the strong recognition that TechnoSport has built over the years while introducing a sharper and more contemporary visual language that reflects movement, energy and confidence. The evolved logo and wordmark are designed to enhance visibility and recall across key consumer touchpoints, from stores and product branding to digital and marketplace platforms. More importantly, this refresh helps express TechnoSport more clearly as a modern performance wear brand built for everyday versatility across daily use, gym and fitness routines, and active sports.”

As the brand strengthens its omnichannel presence, the refreshed identity is expected to support more consistent visibility across retail formats, product branding and communication platforms. The rollout will be implemented in phases across stores, distributor networks and digital interfaces, enabling a more uniform brand experience while reinforcing Technosport’s positioning around comfort, functional innovation and everyday versatility.