Category: Business

VFS Global is proud to announce that it has been recognised with the ‘Excellence in Automation & AI Integration’ and ‘Outstanding Customer Experience Transformation’ awards at the 17th BPO Innovation Summit & Awards 2026, held in Mumbai on 8 April 2026. On behalf of VFS Global, the awards were received by Deepak Mongia, Head – Information Services, VFS Global and his team.

 These recognitions underscore VFS Global’s continued focus on elevating customer experience across its global operations. By delivering more seamless, intuitive, and reliable interactions, the organisation is enhancing every stage of the customer journey. This is enabled by the integration of AI, enterprise data, and intelligent automation, which allows VFS Global to efficiently resolve high volumes of repetitive queries while maintaining consistency and accuracy, leading to faster response times and improved service delivery at scale.

The 2026 BPO Innovation Summit brought together leaders from global technology and service organisations, providing a platform to exchange perspectives on innovation, automation, and the evolving customer experience landscape.

Speaking on the achievement, Pankaj Kohli, Chief Transformation Officer, said,

“At VFS Global, delivering a seamless and reliable customer experience is central to our transformation journey. These recognitions reflect our continued efforts to enhance every customer interaction across touchpoints. By leveraging automation and AI alongside our operational expertise, we are able to drive greater efficiency while ensuring a consistent and high-quality experience for our customers globally.”

These awards reaffirm VFS Global’s commitment to delivering secure, seamless, and customer-centric services, with technology acting as a key enabler in strengthening service excellence across its global footprint.

Mumbai, India, Apr 24:  U.S.-based Utopai Studios and China-based Huace Film & TV Co. Ltd. today announced a partnership under which Huace will use PAI, Utopai Studios’ cinematic storytelling artificial general intelligence, as its core engine for long-form narrative creation. Built and extensively trained for the entertainment industry, PAI will empower Huace to elevate its content development, creative iteration, and global localization at an unprecedented scale.

Huace has made a massive annual usage commitment to PAI across its production operations, and the companies have also entered into a usage-based revenue-sharing arrangement. The agreement is a key step in Utopai Studios’ international expansion and sets up a strong partnership at the scale of a major global content business. As enterprise customers place greater scrutiny on customization, privacy, and security, Utopai Studios is built to support company-specific requirements across regions and regulatory environments.

One of China’s leading film and television companies, Huace has built a business spanning film and television development, production, distribution and related entertainment operations. Its overseas distribution covers more than 200 countries and regions, and it has established channels or dedicated distribution presences across more than 20 international new media platforms, including Netflix and YouTube. With one of the world’s largest TV IP libraries, Huace also brings a level of content scale that points to the opportunity for PAI to help unlock new development, adaptation and production workflows across major media portfolios.

The partnership follows Huace’s rigorous evaluation of available AI models, where the studio sought a solution that transcends the fragmented landscape of standard video generators and point-solution editing tools.

“Huace approached this opportunity with a clear view of what matters for a media company building for the future,” said Zhao Yifang, Founder and Chairwoman of Huace Group. “We looked closely at the available models in the market and were not looking for a generation tool alone. We wanted a platform that could better support narrative quality, creative control, continuity and real production workflows from development through delivery. PAI stood out in that regard. Its long-form capabilities, end-to-end value and professional orientation made Utopai Studios the right partner for us. Our decision to work with Utopai reflects the power of PAI and the value of technology designed for long-form creative workflows.”

PAI is Utopai Studios’ flagship cinematic storytelling agentic system, engineered specifically for the complexities of long-form media. Unlike conventional AI tools, PAI has been rigorously trained on cinematic language and narrative continuity. Earlier this month, Utopai Studios expanded PAI with an update that introduced three-minute 4K video generation, to help maintain absolute consistency across shots and scenes, and advanced multi-shot sequencing capabilities designed to set the gold standard for long-form narrative creation.

New Delhi, Apr 24 (BNP): India’s real estate sector saw a sharp decline in deal value during the January–March quarter, even as transaction activity remained strong, according to a report by Grant Thornton Bharat.

The report said total deal value fell 63% to about $763 million compared to the previous quarter, largely due to the absence of large-ticket transactions that had boosted earlier numbers.

Despite the drop in value, the sector recorded healthy deal activity with 32 transactions during the quarter, making it the second-highest quarterly volume on record, just behind Q3 2025.

Analysts noted that the market continued to show interest in real estate investments, but the composition of deals shifted towards smaller and mid-sized transactions, leading to lower overall value.

The report highlighted that while investor participation remains steady, the lack of high-value deals significantly impacted quarterly totals.

Overall, the data suggests a more balanced but value-light phase for the sector, with sustained activity but cautious capital deployment.

Pune, Apr 24 (BNP): Domestic consumption continues to remain a key driver of India’s economic growth, and predictable policy support is essential to sustain the country’s GDP expansion momentum, Union Finance Minister Nirmala Sitharaman said on Friday.

Speaking at an event organised by State Bank of India in Pune, the Finance Minister highlighted that strong consumer demand is helping the economy maintain steady growth despite global uncertainties. She emphasised the need for consistent and predictable policy measures to support long-term economic stability.

Sitharaman also said that a committee of bankers is currently examining whether banks should be allowed to enter exclusive tie-ups for distributing third-party financial products or move towards an open-architecture model that allows wider participation.

She further advised banks to maintain a strong focus on customer relationships and physical interaction, even as the sector rapidly expands its digital and global footprint.

The remarks underline the government’s emphasis on balancing digital transformation in banking with strong customer engagement and a stable policy environment to support sustained economic growth.

Mumbai, Apr 24 (BNP): Domestic equity markets opened on a weaker note on Friday, tracking heightened global uncertainties and a mixed start to the Q4 earnings season, with selling pressure seen across key sectors.

 The Sensex declined around 400 points, or 0.51%, to trade near 77,263 in early deals, while the Nifty slipped about 100 points, or 0.41%. Broad-based weakness was observed in IT, financial services, and pharma stocks, while select buying in FMCG and chemicals offered limited support.

Heavyweights such as Cipla, Infosys, Dr. Reddy’s Laboratories, Sun Pharmaceutical Industries, Tata Consultancy Services, and ICICI Bank were among the top losers, dragging key indices lower.

Sectorally, the Nifty IT index fell over 1.5%, reflecting pressure on technology stocks amid global risk-off sentiment. Banking and pharma indices also ended in the red, while broader market sentiment remained cautious.

Market experts said volatility is likely to persist in the near term due to geopolitical tensions, crude oil price movements, and ongoing earnings announcements. They advised investors to remain selective and focus on fundamentally strong stocks during market corrections.

Analysts further noted that a sustained uptrend in the Nifty would require a decisive move above the 24,500 level, which could signal improved market sentiment and renewed bullish momentum.

On the global front, crude oil prices remained firm, with Brent trading near $107 per barrel and WTI around $97.6, adding to inflation and margin concerns for markets worldwide.

Asian markets showed a mixed trend, with Nikkei posting gains while Hang Seng and KOSPI traded in the red, reflecting uneven regional sentiment.

Meanwhile, foreign institutional investors (FIIs) continued their selling streak for the fourth straight session, offloading equities worth ₹3,254 crore. Domestic institutional investors (DIIs), however, provided some support by purchasing shares worth ₹941 crore, helping to cushion broader losses.

Overall, markets remained sensitive to global cues, with investors closely tracking geopolitical developments and commodity price trends for near-term direction.

Mumbai: Global crude oil prices surged on Friday, rising up to 2% as renewed geopolitical tensions in the Middle East kept energy markets volatile, even as the United States announced a unilateral ceasefire move.

Brent crude climbed to around $107 per barrel, while West Texas Intermediate (WTI) rose to nearly $97.6 per barrel, reflecting persistent concerns over global supply stability.

In the domestic market, crude oil futures on the Multi Commodity Exchange (MCX) traded lower at around ₹9,077 per barrel, down nearly 1%, indicating mixed sentiment between global and local benchmarks.

For the week, both major global crude benchmarks recorded strong gains—Brent up nearly 19% and WTI rising about 17%—driven by fears of supply disruptions and heightened geopolitical risk.

Market analysts said ongoing uncertainty around key maritime routes, especially the Strait of Hormuz, continues to support prices. Any disruption in this critical shipping corridor could significantly impact global oil flows.

Brent crude faces near-term resistance around $99, with potential upside towards $104–$110 if bullish momentum continues. On the downside, support is seen near $95, with stronger levels around $90–$88.

Geopolitical developments, including shifting signals on ceasefires and military activity in the region, have added to market volatility. While diplomatic efforts are underway, traders remain cautious.

Domestic equity markets also reflected global risk aversion, with Sensex and Nifty trading lower in early sessions amid broad-based selling pressure.

Overall, analysts expect crude oil to remain highly sensitive to geopolitical developments in the near term, with volatility likely to persist.

Mumbai, Apr 24 (BNP): Precious metals witnessed weakness in early trade on Friday, with both gold and silver prices declining on the Multi Commodity Exchange (MCX) amid a broadly cautious global market sentiment.

Gold futures for June delivery opened lower at ₹1,51,167 per 10 grams, down 0.39%, compared with the previous close. The metal extended losses during the session, touching an intraday low of ₹1,50,750 before recovering some ground. At the last update, gold was trading marginally lower at around ₹1,51,449.

Silver futures also came under pressure, slipping nearly 1% in early trade. The May contract fell to an intraday low of ₹2,39,200 per kg before recovering slightly to trade around ₹2,41,345.

In international markets, precious metals mirrored the weak trend, with gold and silver both trading lower on COMEX amid profit-booking and risk-off sentiment.

Market analysts attributed the decline to a stronger US dollar, elevated bond yields, and ongoing global uncertainty. Rising crude oil prices, which have moved above the $100 per barrel mark, have also added inflation concerns, influencing investor sentiment across commodity markets.

Broader financial markets remained under pressure as well, with domestic equity benchmarks Sensex and Nifty trading lower in early sessions, reflecting cautious sentiment among investors.

Experts suggest that near-term volatility in gold and silver is likely to continue as global macroeconomic factors, including inflation trends and geopolitical developments, remain in focus.

New Delhi, Apr 24 (BNP): India has approved a ₹30 billion currency swap arrangement for the Maldives under the SAARC framework, aiming to provide financial stability support to the island nation and strengthen regional economic cooperation.

The facility is part of India’s ongoing commitment to assist neighbouring countries in managing foreign exchange liquidity pressures and maintaining macroeconomic stability during periods of financial stress.

Officials said the swap arrangement will allow the Maldives to access foreign currency support when needed, helping it meet short-term balance of payments requirements and stabilise its external financial position.

The move is also seen as a reflection of India’s broader strategy to deepen economic engagement within South Asia through mechanisms such as the SAARC Currency Swap Framework, which is designed to provide financial backstops to member countries during currency volatility.

The Maldives, a key maritime neighbour of India, has been working to manage fiscal pressures amid global economic uncertainties. The latest support is expected to ease immediate liquidity concerns and reinforce financial cooperation between the two countries.

Analysts note that such arrangements not only provide short-term relief but also contribute to strengthening regional financial resilience and trust among South Asian economies.

New Delhi, Apr 24 (BNP): India’s quick commerce sector is gaining remarkable momentum, with rapid expansion over the past two years positioning it as one of the fastest-growing segments in the country’s digital economy. A recent report suggests the market could reach as much as $65–70 billion by 2030 if current trends continue.

The segment, built around delivering groceries and daily essentials within minutes, has moved well beyond its early-stage appeal in metro cities. It is now steadily expanding into tier-2 and tier-3 markets, supported by wider internet access, improved logistics networks, and evolving consumer expectations.

Industry observers say convenience is now a key driver of growth. More consumers are choosing speed and reliability over heavy discounts, leading to frequent orders and stronger platform loyalty. This shift is encouraging companies to invest further in supply chain efficiency and last-mile delivery capabilities.

At the same time, quick commerce platforms are diversifying their offerings. Beyond groceries, many are adding categories such as personal care, electronics, and household items, aiming to increase order value and customer retention.

While the growth outlook remains strong, profitability continues to be a challenge. High operational costs, especially in maintaining dense delivery networks and dark stores, are pushing companies to refine their business models and focus on sustainable scaling.

Despite these concerns, the sector is expected to play a transformative role in India’s retail landscape over the coming years, reshaping how consumers shop and how brands reach their customers.