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  • Finance Minister to Unveil Heritage Book and Reopened Lighthouse in Southern India

    Chennai, June 25: Union Finance Minister Nirmala Sitharaman is set to participate in a series of cultural and heritage-focused engagements in Tamil Nadu and Puducherry, underscoring the government’s commitment to preserving India’s rich historical legacy and promoting cultural tourism.

    Finance Minister to Unveil Heritage Book and Reopened Lighthouse in Southern India

    As part of her visit, the Finance Minister will launch a heritage-themed publication highlighting the historical, architectural, and cultural significance of prominent landmarks in Tamil Nadu. The book is expected to showcase the region’s enduring heritage and contribute to ongoing efforts aimed at documenting and preserving India’s diverse cultural traditions.

    In a significant development for heritage conservation, Sitharaman will also inaugurate the restored historic lighthouse in Puducherry, a landmark that has undergone extensive renovation and preservation work. The restoration project is aimed at safeguarding the structure’s historical character while enhancing its appeal as a cultural and tourism destination.

    Officials said the initiative aligns with broader efforts to promote heritage tourism, strengthen public awareness of India’s maritime history, and preserve iconic monuments for future generations. The restored lighthouse is expected to emerge as a key attraction for visitors, offering insights into the region’s historical role in maritime navigation and trade.

    The events reflect the growing emphasis on cultural infrastructure and heritage conservation as integral components of India’s tourism and development agenda. By revitalising historical landmarks and supporting documentation of regional heritage, authorities aim to create greater opportunities for cultural engagement, education, and local economic development.

    The Finance Minister’s engagements are also expected to highlight the importance of collaboration between government agencies, heritage experts, and local communities in preserving historically significant sites across the country.

    Observers note that such initiatives contribute not only to heritage conservation but also to the promotion of sustainable tourism, helping strengthen regional economies while preserving India’s unique cultural identity.

    The launch of the heritage publication and the inauguration of the restored lighthouse are being viewed as important steps in celebrating and safeguarding the historical and cultural treasures of southern India.

  • Government’s PSU Disinvestment Drive Raises Over INR 25,000 Crore in 2026

    New Delhi, June 25: The Government of India has mobilised more than ₹25,000 crore through stake sales in public sector undertakings (PSUs) via the Offer for Sale (OFS) route so far in 2026, marking the highest fundraising exercise through PSU disinvestment in over a decade.

    According to market data compiled by Prime Database, the Centre has raised approximately ₹25,491 crore by diluting stakes in eight listed public sector enterprises during the year. The achievement reflects the government’s continued focus on strategic disinvestment and efficient capital management to support fiscal objectives and economic priorities.

    The fundraising figure represents the strongest PSU OFS performance since 2015, when the government raised around ₹35,291 crore through stake sales in five state-owned companies. Including private sector issuances, a total of 24 listed companies have collectively raised nearly ₹29,445 crore through the OFS mechanism in 2026, underscoring robust market participation and investor appetite.

    Major PSU stake sales during the year have included Bharat Heavy Electricals Limited (BHEL), Indian Railway Finance Corporation (IRFC), Central Bank of India, Coal India, NHPC, NLC India, and General Insurance Corporation of India, among others. These transactions have formed a key component of the government’s broader disinvestment strategy aimed at enhancing market liquidity and unlocking shareholder value.

    Market experts note that while PSU stocks have experienced mixed performance following OFS launches amid global uncertainties, the successful fundraising demonstrates sustained investor confidence in India’s public sector enterprises and capital markets.

    Analysts also believe that the proceeds from these stake sales could provide additional fiscal flexibility to support government expenditure on critical sectors such as food security, fertiliser subsidies, infrastructure development, and social welfare programmes.

    The strong response to PSU OFS issues highlights the growing depth of India’s capital markets and reinforces the government’s commitment to balancing fiscal prudence with growth-oriented spending. As the disinvestment programme progresses, policymakers are expected to continue leveraging market-based mechanisms to optimise public sector investments while supporting broader economic development goals.

    With fundraising already approaching historical highs, 2026 is shaping up to be one of the most successful years for government stake sales, reflecting favourable market conditions and investor confidence in India’s long-term growth trajectory.

  • Investment, Jobs and Infrastructure Drive West Bengal’s FY27 Budget Vision

    Kolkata, June 25: West Bengal’s FY 2026-27 Budget marks a significant shift towards an investment-driven growth strategy, with a strong emphasis on infrastructure development, industrial expansion, technology-led innovation, and job creation, according to recent analyses of the state’s fiscal roadmap.

    The budget, presented by Finance Minister Swapan Dasgupta, outlines a comprehensive vision to transform West Bengal into a major investment destination while maintaining a balance between welfare commitments and economic development. Key measures include the introduction of a Global Capability Centre (GCC) Policy, a ₹5,000-crore investment framework, incentives for AI data centres, and reforms aimed at improving the ease of doing business.

    Industry experts have described the budget as a decisive move towards growth-oriented policymaking, highlighting its focus on infrastructure, industrialisation, and employment generation. The government has also announced plans to streamline business approvals through a single-window clearance system and support emerging sectors such as artificial intelligence, semiconductors, and advanced technologies.

    The FY27 budget includes provisions for creating one lakh government jobs, expanding infrastructure networks, and developing new economic hubs, while also continuing major welfare initiatives. Significant allocations have been made for women’s welfare, healthcare, rural development, and skill enhancement, reflecting an approach that seeks to combine social inclusion with economic growth.

    Analysts note that the budget represents a broader effort to reposition West Bengal as a competitive destination for domestic and global investment. Measures targeting industrial growth, technology adoption, logistics, and infrastructure development are expected to strengthen the state’s long-term economic prospects and attract fresh capital inflows.

    With investment promotion and job creation emerging as central themes, the FY27 budget is being viewed as a strategic roadmap aimed at accelerating economic growth, enhancing competitiveness, and laying the foundation for sustained development in the years ahead.

  • Hon’ble CM Pushes AI-Powered Maritime Security for Safer Odisha Coastline

    Bhubaneswar, June 25 (UDN): Odisha Chief Minister Mohan Charan Majhi on Thursday emphasized the need for leveraging advanced technologies, including Artificial Intelligence (AI), to strengthen maritime security and ensure a safer coastline for the state.

    Hon'ble CM Pushes AI-Powered Maritime Security for Safer Odisha Coastline

    Addressing the 14th Multi-Agency Maritime Security Group (MAMSG) Policy Meeting held in Bhubaneswar, the Chief Minister said that the high-level meeting was being organised outside New Delhi for the first time, underscoring Odisha’s growing strategic significance in the country’s maritime security framework.

    The Chief Minister expressed confidence that the deliberations would pave the way for enhanced cooperation between the Centre and the State in safeguarding maritime interests.

    Highlighting Odisha’s strategic importance, Majhi noted that the state has a coastline stretching nearly 575 kilometres and has maintained trade and cultural links with Southeast Asian countries since ancient times.

    “Odisha continues to occupy a significant position in the maritime sector. We are confident of receiving substantial support from the Central Government in view of the state’s strategic importance in maritime security,” he said.

    The Chief Minister further informed that the state government, with support from the Centre, is developing a deep seaport in Ganjam district to strengthen maritime infrastructure. In addition, a major shipbuilding cluster is being established at Paradip.

    Both projects are being developed with an investment exceeding Rs 50,000 crore and are expected to significantly boost Odisha’s maritime capabilities, industrial growth and employment opportunities.

    Majhi also stressed the importance of adopting emerging technologies such as AI for surveillance, monitoring and threat detection to further enhance coastal security and maritime preparedness.

    Senior officials from various maritime security agencies, defence establishments and central and state departments participated in the policy meeting.

  • India-US Partnership Gains Momentum in Advanced Technology Sectors

    New Delhi, June 25: India and the United States have reaffirmed their commitment to strengthening strategic and economic ties, with discussions focused on expanding cooperation in key sectors including semiconductors, artificial intelligence (AI), and critical minerals.

    The talks underscore the growing importance of technology-driven collaboration between the two nations as they seek to build resilient supply chains, accelerate innovation, and enhance economic competitiveness in an increasingly interconnected global landscape.

    During the discussions, both sides emphasized the need for closer engagement in semiconductor manufacturing and research, recognizing the sector’s critical role in powering next-generation technologies. Efforts to promote investments, foster talent development, and encourage industry partnerships were highlighted as areas of mutual interest.

    Artificial intelligence also featured prominently in the dialogue, with India and the US exploring opportunities to advance responsible AI development, strengthen digital infrastructure, and support innovation-led growth. The discussions reflected a shared vision of leveraging emerging technologies to drive economic progress while ensuring ethical and secure deployment.

    In addition, both countries reviewed avenues for cooperation in securing critical mineral supply chains, a key component in the production of advanced electronics, clean energy technologies, and strategic industrial applications. Enhancing supply chain resilience and reducing vulnerabilities remain central priorities for both governments.

    The renewed focus on these strategic sectors highlights the evolving nature of the India-US partnership, which continues to expand beyond traditional areas of cooperation into advanced technology, innovation, and sustainable economic development.

    Industry observers view the discussions as a positive step toward deepening bilateral collaboration and creating new opportunities for investment, research, and technological advancement in the years ahead.

  • Equity Markets Open in Green Amid Stable Crude Oil Prices

    Mumbai, June 25: Indian equity markets opened on a positive note on Thursday, supported by easing concerns over global energy prices as crude oil hovered near the $70-per-barrel mark. Benchmark indices witnessed buying interest across key sectors, reflecting improved investor sentiment and optimism over economic stability.

    The positive market opening comes amid relatively stable crude oil prices, which have remained close to the $70 level following recent fluctuations in global commodity markets. For India, one of the world’s largest crude oil importers, softer energy prices are generally viewed as beneficial for controlling inflationary pressures and reducing import costs.

    Market participants noted that stable crude prices could provide support to corporate earnings, particularly for sectors heavily dependent on fuel and transportation costs. Banking, automobile, and consumer-focused stocks were among the early gainers as investors responded positively to the global cues.

    Analysts believe that the moderation in crude oil prices may help sustain market momentum in the near term, while investors continue to monitor global economic developments, central bank policies, and geopolitical factors that could influence commodity markets.

    The broader market sentiment remained constructive, with traders expecting continued volatility but maintaining a cautiously optimistic outlook for Indian equities.

  • Dubai civility initiative demands new design thinking from developers

    Keturah founder says citywide focus on behaviour, design and daily experience raises the bar across real estate sector

    Keturah founder says citywide focus on behaviour, design and daily experience raises the bar across real estate sector

     

    Dubai, UAE, June 25: Luxury developer Keturah says Dubai’s new civility initiatives will reinforce the emirate’s position as a global leader in how a city can improve everyday life for residents.

    The Dubai Civility Committee has confirmed plans to introduce a Civility Guidebook and new guidelines for celebrating different occasions, as part of a wider drive to improve public behaviour, the city’s appearance and its overall standard of civility.

    The programme also includes work on an integrated city lighting plan and a wider review of the city experience to set standards and systems required to design the world’s most civilised urban experience.

    Talal M. Al Gaddah, CEO and Founder of the Keturah luxury brand, says the initiative reflects a more practical way of thinking about cities, where roads, public spaces and homes all work together.

    “Dubai is now defining not only how a city should function, but how it should feel,” said Al Gaddah. “That means developers have to think differently about the spaces they create, and ensure their communities reflect the same principles being applied across the city.

    “The way communities and homes are designed plays a big part in civility. How spaces are lit, the way communities flow, how people move through shared environments, and the balance of comfort and privacy all shape behaviour and interaction.”

    Keturah has two luxury residential communities under development in Dubai designed around principles that support how people actually live and interact.

    The Ritz-Carlton Residences at Keturah Resort, on the shores of Dubai Creek adjacent to the Ras Al Khor Wildlife Sanctuary, combines branded residences, hospitality and a dedicated wellness centre, creating spaces where residents naturally encounter and engage with each other.

    Keturah Reserve, the AED5.7 billion bio-living community in Mohammed Bin Rashid City’s District 7, is designed at scale to support quality of life through thoughtful planning, from air quality to how spaces flow and connect, all of which shape daily behaviour and interaction.

    The Dubai Civility announcement earlier this week follows the new Public Safety laws which came into effect on June 1, to improve safety standards across public spaces, buildings, events, and facilities.

    Al Gaddah says such frameworks strengthen the link between how cities are governed and how they are designed, and reinforce the importance of aligning private development with Dubai’s long-term direction on safety, quality and liveability.

     

  • Uttar Pradesh Global Growth Dialogue 2026: UP receives investment proposals worth over INR 50,000 crore at Bengaluru roadshow

    Uttar Pradesh Global Growth Dialogue 2026: UP receives investment proposals worth over INR 50,000 crore at Bengaluru roadshow

    Bengaluru/New Delhi, June 24: The Yogi government’s efforts to position Uttar Pradesh as a preferred investment destination received another major boost as the state secured investment proposals worth over ₹50,000 crore during the Uttar Pradesh Global Growth Dialogue 2026 in Bengaluru.

    Chief Minister Yogi Adityanath, who visited Bengaluru with the vision of attracting investors and transforming Uttar Pradesh into a one-trillion-dollar economy, engaged with leading global companies, Global Capability Center (GCC) operators, technology firms, infrastructure developers, and investors during the event.

    As part of a series of roundtable discussions, Uttar Pradesh received investment proposals worth more than ₹50,000 crore from over 15 companies. MoUs were signed between the state government and various companies. These investments are expected to create new opportunities in industrial development, Global Capability Centers (GCCs), electronics manufacturing, logistics, and other key sectors.

    The largest investment commitments came in the industrial and business park segment. Horizon (Blackstone) proposed an investment of ₹10,000 crore, Embassy ₹5,000 crore, Raheja Mindspace REIT ₹5,000 crore, Prestige ₹15,000 crore, and Sattva Developers ₹4,000 crore. Shriram Properties also signed an MoU to develop private industrial and business parks in Uttar Pradesh. These projects are expected to strengthen the state’s modern industrial infrastructure and generate large-scale employment opportunities.

    Uttar Pradesh also received major investment proposals in the Global Capability Center (GCC) sector. Companies including LG, Aon, MetLife, and Table Space signed MoUs with the state. In addition, TeamLease signed a non-financial MoU in the presence of Chief Minister Yogi Adityanath to support GCC talent development in Uttar Pradesh.

    The partnership aims to strengthen the pipeline of skilled professionals in the state, ensuring businesses have access to future-ready talent. It is also expected to reinforce Uttar Pradesh’s position as a preferred destination for Global Capability Centers and knowledge-based industries. Several other prominent companies also expressed interest in investing in the state.

    Chief Minister Yogi Adityanath held strategic discussions with senior executives of leading companies across three roundtable sessions. The first session, Future of Urban Infrastructure, focused on the future of urban development. The second session, The Next Tech Frontier: Global Capability Centers, IT and IT-Enabled Services, explored emerging technologies and innovation. The third session, UP Growth Journey: Rising FDI, deliberated on the role of foreign direct investment in the state’s development trajectory.

    During these interactions, the Chief Minister invited industry leaders to become part of Uttar Pradesh’s rapidly evolving investment ecosystem. Highlighting progressive policies, robust infrastructure, transparent and responsive governance, and one of India’s most competitive incentive frameworks, he encouraged businesses to invest in the state.

    Chief Minister Yogi Adityanath also presented the state’s roadmap to establish Uttar Pradesh as a leading GCC hub. He stated that the government aims to develop 40 million square feet of Grade-A office space and establish 500 GCC units by 2031.

    The state is producing a talent pool of nearly 200,000 STEM graduates annually. The government’s focus is on skill development in emerging technologies such as Artificial Intelligence (AI), Machine Learning, Cybersecurity, and Cloud Computing.

    Uttar Pradesh is also working towards becoming one of India’s top three destinations for foreign direct investment (FDI).

    With its emphasis on transparency, ease of doing business, security, policy stability, and investor-friendly governance, the state is emerging as one of India’s most attractive destinations for technology-driven growth and global business expansion.

  • 84 percent of Banking Leaders in India Report Rising Fraud Losses, Up from 57 percent Last Year, BioCatch Survey Finds

    Chennai, June 24: Financial institutions around the world appear very concerned about the present and future of AI-driven fraud. In a new survey of 1,440 fraud-management, anti-money laundering (AML), and risk and compliance leaders at banks in 25 countries on five continents, 84% of respondents recognize AI agents as the industry’s greatest exploitable vulnerability in the next year, 88% say AI has already increased the sophistication of fraud, 60% expect AI-mediated banking to reduce the effectiveness of traditional fraud defenses, and 72% believe it will be very difficult to distinguish between legitimate AI-assisted actions and malicious or manipulated AI activity in a future where AI agents commonly initiate transactions.
     
    “AI is starting to reshape how customers interact with e-commerce sites and financial institutions and will change how criminals execute fraud and other financial crimes,” BioCatch CEO Gadi Mazor said. “As digital interactions continue to grow faster, more automated, and increasingly driven by agents, we must move beyond static identity checks and toward a deeper and immediate understanding of behavior, intent, and trust.”
     
    Commissioned by BioCatch, which prevents fraud and financial crime by recognizing patterns in human behavior, the survey highlights how the global fraud challenge is manifesting across different markets — with India emerging as one of the most concerned and heavily impacted countries. The survey interviewed 100 fraud management, financial crime prevention, and risk and compliance leaders from Indian financial institutions. Ninety percent of Indian banking leaders surveyed say they’ve observed an increase in fraud attempts over the past year, significantly higher than the global average of 81%. Additionally, 84% reported rising fraud losses, compared to 76% globally. Both figures also represent a significant uptick from last year’s survey, in which 70% of those surveyed in India reported increasing fraud attempts and only 57% reported increasing fraud losses.
     
    All respondents were manager-level or above, 62% were director-level or above, and 31% identified as members of their bank’s C-suite. Nearly all (98%) work at institutions with more than $10 million under management, 64% say their bank holds more than $100 million in assets, 49% more than $1 billion, and 22% more than $10 billion.
     
    Indian banking leaders also appear particularly convinced that AI-powered fraud — both in the present and the future — represents a serious threat. Among the 25 countries surveyed in 2026, India emerged as the country most concerned about the accelerating speed of fraud.
     
    Rising fraud: 
    • 90% say fraud attempts at their institution are increasing (vs. 81% globally). In 2025, only 70% of Indian respondents reported increasing attempts. 
    • 84% say fraud losses at their institution are increasing (vs. 76% globally). Last year, only 57% of Indian respondents reported increasing fraud losses.
    • 95% are very concerned about an increase in the speed of fraudulent activity (vs. 76% globally). 
    • 48% say their institution loses more than $10 million to fraud every year, 32% more than $25 million, 16% more than $50 million, and 6% more than $100 million. 
    • 58% say their customers lose more than $5 million to authorized fraud/scams every year, 44% more than $10 million, 19% more than $25 million, 7% more than $50 million, and 2% more than $100 million.
      Interbank intelligence sharing:
    • 94% think interbank intelligence sharing could have a significant positive impact on their ability to stop fraud and financial crime (vs. 85% globally).
    • 93% believe gaining real-time intelligence on the receiving account involved in a transaction would have a significant impact on their ability to recognize and stop scams (vs. 86% globally).
    AI impact:
     
    • 93% believe AI has increased the sophistication of fraud and scam schemes (vs. 88% globally).
    • 83% believe AI agents could be the industry’s next largest exploitable vulnerability by fraudsters in the next year (vs. 84% globally).
    • 90% believe that it will be very challenging to distinguish between legitimate AI-assisted actions and malicious or manipulated activity (vs. 72% globally).  
    Other notable takeaways: 
    • A full two-thirds (66%) of Indian banking leaders cite scam attempts via instant payment platforms as the main driver of fraud in the country, compared to the 59% global average of respondents naming instant payments as the primary driver of increased fraud attempts in their geographies. India’s rapid UPI adoption is likely creating new attack opportunities for fraudsters.
    • 60% of Indian banks actively measure and report customer attrition from fraud, compared to just 47% globally. This signals a mature approach to understanding the business impact of fraud on its customer base.
    • 64% of Indian respondents say they’ve observed scammers employing deepfakes to improve social engineering and impersonation scams in the last year (vs. 50% globally)
     View the complete interactive report or download a static .pdf to see the complete results.

  • HCLTech and ServiceNow join forces to scale enterprise AI with Google Cloud

     

    Gemini Enterprise-based AI agent solutions integrated with ServiceNow to drive real-world adoption of agentic AI

     

    NOIDA, India and Sydney, Australia, June 25—HCLTech, a leading global technology company, has expanded its collaboration with Google Cloud and ServiceNow to deliver AI agents for enterprise adoption on the Gemini Enterprise platform. The launch coincides with HCLTech’s sponsorship of the Sydney Google Cloud Summit 2026.

    Building on HCLTech’s recently launched Gemini Enterprise business unit, the latest collaboration brings together advanced ServiceNow AI capabilities, enterprise workflow orchestration and industry expertise to enable organizations to deploy and scale AI in real business environments.

    HCLTech will introduce enterprise AI solutions on Gemini Enterprise that combine Gemini’s advanced AI capabilities with ServiceNow’s workflow platform – anchored in ServiceNow’s Blueprint for Agentic Business, a framework for structured, outcome-driven AI adoption. This includes a next-generation Factory Shop Floor Assistant, which delivers real-time operational intelligence to manufacturing environments, enabling faster decision-making and improved efficiency.

    Initial solutions span two high-impact domains: Field Services, where Gemini Live, integrated with ServiceNow Field Service Management, delivers real-time audio and visual intelligence to field technicians for faster issues resolution; and Customer Experience, to ensure customer intent is preserved across channels. HCLTech is also leveraging ServiceNow’s AI Control Tower to enhance visibility and governance of AI agents within Gemini Enterprise, while an ITOps ServiceNow Agent—available on Google Cloud Marketplace for Gemini Enterprise—supports incident management and remediation in enterprise IT environments.

    “Bringing agentic AI to the enterprise requires deep integration into the systems that businesses rely on every day,” said Satish Thomas, Vice President of Applied AI and Platform Ecosystem at Google Cloud. “Our partnership with HCLTech and ServiceNow combines the foundational power of Gemini Enterprise with industry-leading workflow and operational expertise, giving customers the tools they need to safely scale AI and accelerate innovation across their entire organization.”

    “The future of enterprise AI lies in orchestrating intelligent agents across the business as a connected system of action,” said Michael Park, Senior Vice President, Global Partnerships and Channels at ServiceNow. “By bringing together ServiceNow’s AI-native platform, HCLTech’s implementation expertise, and Google Cloud’s Gemini Enterprise capabilities, we are helping organizations build the foundation for an agentic enterprise. This collaboration enables customers to orchestrate AI agents across workflows, systems and teams, accelerating productivity, strengthening governance and delivering business outcomes at scale.”

    “Enterprises are moving quickly from exploring AI to embedding it at the core of their operations, and that shift requires stronger levels of integration and orchestration,” said Vijay Guntur, Chief Technology Officer and Head of Ecosystems at HCLTech. “Our collaboration with Google Cloud and ServiceNow reflects this evolution—integrating advanced AI, enterprise workflows and ecosystem scale to help clients move beyond pilots to sustained, enterprise-wide impact. By aligning AI with operational systems and industry context, we are enabling a more practical and accountable adoption of agentic AI, and our ServiceNow Agentic Blueprint gives enterprises the structured path to get there.”

    “Agentic AI will only deliver enterprise value when it is built on a resilient, secure and scalable digital foundation,” said Jagadeshwar Gattu, President, Digital Foundation Services at HCLTech. “By combining HCLTech’s deep infrastructure, cloud and operations expertise with Google Cloud’s Gemini Enterprise platform and ServiceNow’s workflow and AI capabilities, we are helping clients move from experimentation to production-ready adoption. This collaboration enables enterprises to embed intelligence into mission-critical environments with the governance, visibility and operational rigor needed to drive measurable outcomes at scale.”

    This expanded collaboration underscores HCLTech’s focus on enabling enterprises to transition from experimentation to scaled deployment of agentic AI, with solutions that are designed to deliver measurable impact across industries. HCLTech will showcase this focus at the Sydney Google Cloud Summit 2026, and at the Sydney ServiceNow World Forum where enterprise leaders will explore how cloud, AI and ecosystem collaboration can accelerate business transformation.