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Bhubaneswar, May 7 (BNP): Odisha Chief Minister Mohan Charan Majhi has called for a more balanced model of industrial development in India, stating that the country’s next major growth phase should be powered by the eastern coastline, with Odisha emerging as a central hub for investment, trade and manufacturing.

Pic Credit: https://x.com/MohanMOdisha 

Speaking during his visit to Gujarat, the Chief Minister said India’s western coast has played a crucial role in driving maritime trade and industrial expansion over the years, but the time has now come to unlock the untapped potential of the East Coast.

During interactions with industry leaders and stakeholders at Mundra Port, Majhi proposed a “two-coast strategy” aimed at strengthening industrial activity across both the western and eastern seaboards to ensure more balanced and sustainable economic growth.

He said Odisha is well-positioned to lead this transformation due to its strategic location, expanding infrastructure network and growing industrial ecosystem. The state’s proximity to Southeast Asia, East Asia and the Indo-Pacific region, he noted, offers strong advantages for trade, logistics and manufacturing.

The Chief Minister emphasised that Odisha is building an investment-friendly environment backed by policy support, faster clearances and improved connectivity. He added that the state is focused on converting investment commitments into on-ground projects within a defined timeframe.

Majhi, accompanied by Industries Minister Sampad Chandra Swain, Chief Secretary Anu Garg and senior officials, showcased Odisha’s industrial potential and infrastructure readiness during meetings with business leaders.

As part of the visit, the delegation toured major facilities at Mundra Port, including container terminals and Very Large Crude Carrier (VLCC) jetties, to study large-scale cargo handling and integrated port operations. They also visited industrial units within the adjoining Special Economic Zone, including facilities linked to copper manufacturing and renewable energy components such as solar cells and wind turbine parts.

On the second day of my Gujarat visit, I visited Mundra Port and engaged with industry leaders, where I proposed a balanced two-coast strategy as a defining framework for India’s next phase of industrial development. India’s growth cannot remain one-sided; the next phase of… pic.twitter.com/2zur2kYtbR

— Mohan Charan Majhi (@MohanMOdisha) May 6, 2026

Highlighting Odisha’s recent investment momentum, the Chief Minister said the state has approved 433 investment proposals worth nearly ₹8.37 lakh crore over the past 22 months. Of these, 148 projects worth around ₹2.86 lakh crore have already moved into the implementation stage.

He noted that sectors such as logistics, petrochemicals, chemicals, downstream industries and manufacturing are witnessing growing investor interest, supported by expanding industrial corridors, logistics parks and port-led infrastructure.

According to officials, Odisha is steadily strengthening its position as a major industrial and logistics hub on India’s eastern coast. Ports including Paradip Port, Dhamra Port and Gopalpur Port are expected to play a key role in driving future industrial growth and regional connectivity.

The visit is being seen as part of Odisha’s broader effort to attract large-scale investments and position itself as a leading growth engine for India’s next industrial decade.

New Delhi, May 7 (BNP): India’s export sector has started the new financial year on a strong note, recording more than 20 per cent growth in the first three weeks of April despite rising geopolitical tensions and disruptions in global trade routes linked to the West Asia conflict.

According to the Ministry of Commerce and Industry, the sharp rise in exports reflects resilient global demand for Indian goods even as international supply chains face uncertainty due to the ongoing crisis in the Middle East.

Among the key drivers of growth were petroleum products and electronic goods, both of which witnessed strong overseas demand during the period between April 1 and April 21.

Industry observers said exports of refined petroleum products such as diesel and aviation fuel received a boost as disruptions around the Strait of Hormuz affected normal supply flows from Gulf nations. The strategic waterway remains a critical route for global oil shipments, and tensions in the region have pushed up international energy prices.

India’s coastal refineries appear to have benefited from the shifting trade dynamics, helping increase exports of fuel products to several markets.

At the same time, electronic goods continued to emerge as a major strength for India’s export economy. Growing global demand for smartphones, consumer electronics, and communication equipment has significantly expanded the country’s presence in international markets.

The expansion of manufacturing operations by global technology companies, including Apple, has further accelerated India’s electronics exports in recent years.

Commerce and Industry Minister Piyush Goyal said exporters remain optimistic despite the challenging global environment. He noted that shipments to West Asia are continuing through alternative routes as the Strait of Hormuz remains under pressure.

The minister also expressed confidence that India’s recently concluded free trade agreements would provide long-term support to domestic industries and help expand access to global markets.

India’s electronics exports have witnessed remarkable growth over the past decade. Between 2016 and 2024, exports from the sector increased nearly fivefold to over $42 billion, reflecting the country’s growing role in global manufacturing and supply chains.

A recent report by NITI Aayog highlighted that electronics has now become one of India’s largest export categories, supported by rising investments, policy incentives, and expanding domestic production capabilities.

The sector has also become increasingly important for industries such as telecom, renewable energy, defence, and automotive manufacturing, strengthening its role in India’s broader industrial growth story.

To further support the industry, the Union Budget allocated ₹40,000 crore under the Electronics Components Manufacturing Scheme, aimed at boosting domestic production capacity and reducing import dependence.

MPA, Film Federation of India, Indian Music Industry, Producers Guild of India, Indian Broadcasting and Digital Foundation, Indian Singers and Musicians Rights Association Oppose Copyright Dilution in AI Policy

Hyderabad, May 7: Leading organizations from India’s film, music, broadcasting, publishing, and creative sectors have jointly opposed proposals that could weaken copyright protections amid ongoing discussions around artificial intelligence policy in India.

Industry leaders gathered at three roundtables held in Mumbai, Delhi, and Hyderabad to advocate for stronger copyright safeguards and responsible AI development frameworks centered around consent, voluntary licensing, and enforcement.

The discussions brought together representatives from the Motion Picture Association, Film Federation of India, Indian Music Industry, Producers Guild of India, Indian Broadcasting and Digital Foundation, and Indian Singers and Musicians Rights Association.

According to EY’s Stories, Scale and Impact: Unlocking India’s Media and Entertainment Economy report, India’s media and entertainment sector is valued at ₹2.78 trillion, contributes nearly 0.8% of the country’s GDP, and supports approximately 2.8 million direct jobs along with over 10 million indirect jobs. The sector is projected to surpass ₹3 trillion by 2027.

A separate 2025 MPA–Deloitte study highlighted that India’s film, television, and streaming industries generated approximately ₹5.1 lakh crore in economic output during 2024 and supported more than 2.6 million jobs nationwide.

During the roundtables, industry bodies urged policymakers to reject any proposals that would allow blanket access to copyrighted works for AI model training without proper authorization or licensing.

A whitepaper titled AI in the Creative Industry: Deepening the Value Chain, released by Koan Advisory in association with Creative First, highlighted how AI tools are already being responsibly adopted across India’s screen industries while preserving creativity and creator rights.

The New Delhi roundtable on Generative AI, Copyright and Intellectual Property was chaired by Sanjeev Sanyal. Participants raised concerns over proposals linked to granting AI companies access to copyrighted content at government-set rates and called for the continuation of India’s existing Copyright Act framework based on voluntary licensing.

Industry representatives emphasized that AI innovation and copyright protection can coexist and that respect for intellectual property is critical for sustainable innovation.

James Cheatley stated that strong copyright protections are the foundation of innovation in the AI era.

Abhay Sinha said:

“Digital India must not become free-for-all India—our creative works cannot be treated as raw material for someone else’s business model.”

Sanjay Tandon warned that unauthorized use of creative works by AI companies threatens artists, investment, and diversity in storytelling.

Blaise Fernandes noted that licensing partnerships between AI companies and copyright owners are already emerging globally and questioned why similar frameworks should not be adopted in India.

Nitin Tej Ahuja emphasized that respect for intellectual property remains central to India’s creative economy.

Avinash Pandey highlighted that India’s ambitions to become a global content hub depend on maintaining trust among creators and investors.

Leaders from the Telugu film industry also stressed the importance of stronger enforcement and creator protections.

Suresh Dagubatti said AI should empower creators rather than limit their ability to monetize their work.

Supriya Yarlagadda called for stronger safeguards against piracy and unlicensed content usage, while Dil Raju highlighted the role of copyright protections in supporting livelihoods across India’s creative ecosystem.

Rishi Raj added that strong copyright frameworks are essential to ensuring fair competition and keeping creators at the center of innovation in the generative AI era.

The industry roundtables form part of ongoing engagement between policymakers and India’s creative sectors on balancing AI advancement with copyright protection, cultural expression, and responsible innovation.

 

Mumbai, May 07: Hexaware Technologies (NSE: HEXT), a global provider of IT solutions and services, today announced financial results for the first quarter of calendar year 2026 ended March 31, 2026.

 Revenue:

• Q1CY26: USD 388.5 Mn | INR 36,130 Mn
• USD: (0.1%) QoQ and +4.6% YoY | INR: +3.9% QoQ and +12.6% YoY
• Constant Currency: (0.3%) QoQ and +3.2% YoY

Profitability:

EBIT (1):

• Q1CY26: 13.0% | (6 bps) QoQ and (133 bps) YoY in % terms
• (0.6%) QoQ and (5.1%) YoY in absolute terms

Basic EPS:

• Q1CY26: INR 5.77 | 20.5% QoQ and +7.2% YoY

Key Client Metrics

•  Added two more customers in the USD 10Mn+ category (LTM basis), increasing the total to 34 from 32 in the previous quarter
• Top 10 customer revenue concentration at 35.9% in Q1CY26 (LTM basis) 

Key People Metrics

• Closing Headcount: 33,798, QoQ net reduction of 46 with 124 net addition in IT
• Voluntary Attrition for IT(2): 11.1%
• Q1CY26 Utilization Rate for IT(3): 82.6%

Other Key Metrics

• DSO (Billed + Unbilled) at 75 in Q1CY26, of which Billed is 44
• LTM Q1CY26 Operating Cash Flow (OCF) to Reported Profit % at 125.1%
• Cash and Cash Equivalents Position as of Mar 31, 2026, is USD 220 Mn(4) (5)

Leadership Speak

” The most defensible moat in the AI world is trust in relationships with customers. Our customers trust us to be their AI transformation partner to bring the power of AI to all facets of their IT and business. This represents a significant growth opportunity, and we are well poised to accelerate growth through 2026.”

R. Srikrishna, CEO

“Q1 continued to reflect the strength and discipline of our financial engine. We had yet another quarter of strong cash generation, with industry leading LTM OCF to PAT conversion of 125%+. This healthy balance sheet and consistent cash flows enabled us to declare the first interim dividend of ₹8.5 per share, reinforcing our commitment to disciplined capital allocation and shareholder returns”

Vikash Jain, CFO

Key Wins

Won a digital ITO and cloud migration deal with a premier American audio equipment manufacturer

 Secured the second phase of a consolidation deal with a large global bank

·         Won a consolidation deal with a large European bank

·         Secured a consolidation deal with a global professional services firm

·         Selected by a US-based data storage company for AI-led fab optimization

·         Selected by a leading digital workspace platform for Agentic Application Maintenance and Support (AMS)

·         Selected by a top-tier American data center company for identity-led cybersecurity

·         Secured an opportunity to scale GCC with a leading provider of wealth management and technology solutions

May 7: Ai+ Smartphone has unveiled its latest campaign for the Nova 2 Ultra, fronted by Indian cricket star Ishan Kishan. With a distinctively quirky and narrative-led TVC, the brand takes a refreshing departure from conventional smartphone advertising bringing its flagship device to life through storytelling that is as engaging as it is memorable. This campaign is a continuation of Ai+ Smartphone’s broader vision to redefine the category through trust-led, design-forward innovation.

At the heart of the campaign lies a clear strategic intent to shift how smartphones are communicated and experienced. Moving beyond spec-heavy demonstrations, the film places the Nova 2 Ultra within relatable, everyday moments infused with humour, personality, and a strong sense of identity. The result is a campaign that not only highlights the device’s performance, design, and user experience, but does so in a way that feels intuitive, human, and culturally relevant. Ishan Kishan’s natural screen presence adds authenticity and recall, reinforcing the brand’s positioning and reflects a shared mindset of pushing boundaries while staying grounded in real, everyday experiences.

Commenting on the launch, Archi Gogoi, Head of Brand, Marketing & Growth, Ai+ Smartphone, and NxtQuantum Shift Technologies, said,“At Ai+, we believe the real evolution in this category lies not just in what smartphones can do, but in how they are experienced by consumers. With this campaign, we wanted to move away from predictable formats and create something that feels instinctive, relatable, and true to how people engage with technology today. Ishan brings a natural confidence and relatability that aligns seamlessly with our vision of building a brand that is both accessible and distinct.”

Launched in April 2026, the Nova 2 Ultra represents the most complete expression of the Nova Series bringing together advanced capabilities with a bold, design-led approach. The device will be available for sale starting May 8th at 14999/- exclusively on Flipkart and select retail stores near you.

New Delhi, May 7 (BNP): India’s retail inflation is expected to inch closer to the 4 per cent mark in April 2026 amid mounting pressure from rising food prices and uncertain global commodity trends, according to a report by Bank of Baroda.

 The report highlighted that price pressures across essential commodities have strengthened steadily over the past three months, signalling a gradual build-up in inflationary trends. The Bank of Baroda Essential Commodities Index (BOB ECI) increased 1.1 per cent year-on-year in April, while recording a 0.3 per cent rise on a monthly basis — the sharpest monthly increase since August 2025.

Analysts pointed to a noticeable rise in the prices of key kitchen staples such as tomatoes, onions, and edible oils, along with other household essentials. The report observed that inflationary pressure is no longer confined to isolated items and is becoming increasingly widespread across categories.

The bank warned that the inflation outlook remains vulnerable to global developments, especially as geopolitical tensions continue to keep international commodity markets volatile. Elevated prices of crude oil, metals, and food commodities in the global market could add to domestic inflationary pressures in the coming months.

It also noted that imported inflation risks are becoming more pronounced, particularly in segments like edible oils that are heavily dependent on global supply chains and overseas pricing trends.

While inflation is still expected to remain broadly within the Reserve Bank of India’s tolerance range, economists believe the balance of risks has shifted upward due to persistent food inflation and uncertain global conditions.

The report stressed the need for close monitoring of commodity prices and geopolitical developments, as any further spike in global costs could have a direct impact on household expenses and overall inflation trends in India.

 

Mumbai, May 7 (BNP): Indian benchmark indices traded in positive territory on Thursday morning as investor sentiment improved amid expectations of a possible diplomatic breakthrough between the United States and Iran.

The BSE Sensex rose nearly 380 points, or 0.48 per cent, touching an intraday high of 78,339.24. The NSE Nifty also advanced by around 92 points, or 0.37 per cent, to trade near 24,423 in early deals.

Despite the broader gains, several heavyweight stocks witnessed selling pressure. Among the notable laggards on the Nifty were Tata Consumer Products, Power Grid Corporation, Hindustan Unilever, TCS, HDFC Bank, Titan, NTPC, and Sun Pharma.

Sector-wise, indices linked to real estate, FMCG, consumer durables, and private banks slipped up to 0.7 per cent. On the other hand, auto and metal stocks outperformed, with both sectors posting gains of nearly 0.8 per cent.

Analysts attributed the positive market mood to reports suggesting Iran is reviewing a peace proposal backed by the US. According to international reports, the proposed framework could help ease ongoing tensions in West Asia, although major concerns surrounding Iran’s nuclear programme and the Strait of Hormuz remain unresolved.

An Iranian foreign ministry spokesperson indicated that Tehran would soon share its response to the proposal, while US President Donald Trump expressed confidence that Iran is willing to negotiate.

Market experts, however, cautioned that volatility may continue due to geopolitical uncertainty and fluctuating crude oil prices. They noted that investor sentiment is currently swinging between optimism over diplomatic progress and fears linked to the broader regional conflict.

Analysts also flagged concerns over rising valuations in the artificial intelligence segment globally, warning that any sharp correction in AI-related stocks could impact foreign portfolio investment flows into emerging markets, including India.

On the earnings front, market participants said investors are rewarding companies that delivered strong March quarter results, while firms missing expectations are facing sharp reactions.

In the commodities market, Brent crude traded around $102.50 per barrel, up 1.2 per cent, while US West Texas Intermediate (WTI) crude gained nearly 1.5 per cent to trade close to $96.50 per barrel.

Asian markets mirrored the positive momentum, with indices such as the Nikkei, Hang Seng, and KOSPI trading firmly higher. Overnight, Wall Street also ended on a strong note, with the S&P 500 gaining 1.46 per cent and the Nasdaq rising 2 per cent.

Seoul, Korea, May 07–SK Telecom (NYSE:SKM, hereinafter referred to as “SKT”) today announced its consolidated earnings for the first quarter of 2026, based on Korean International Financial Reporting Standards (K-IFRS): revenue of KRW 4.3923 trillion, operating income of KRW 537.6 billion, and net income of KRW 316.4 billion.

Revenue increased 1.5% quarter over quarter (QoQ), driven by a recovery in the wireless business and growth in the AI Data Center (AIDC) business. Through company-wide productivity improvement efforts, operating income exceeded KRW 500 billion on a quarterly basis for the first time since the first quarter of last year.

Following a period of subdued performance last year, SKT posted a clear turnaround in the first quarter of 2026, driven by efforts to innovate customer value and restore trust. The company’s AI business, built on a strategy of focus and selectivity, also improved its profitability and delivered tangible results.

On a non-consolidated basis, the company reported revenue of KRW 3.1058 trillion, operating income of KRW 409.5 billion, and net income of KRW 332.7 billion. SKT also reinstated its quarterly dividend, with a dividend of KRW 830 per share for the first quarter.

■ Handset subscribers up 210,000 as trust restoration efforts bring customers back

SKT achieved net additions of approximately 210,000 handset subscribers in the first quarter of 2026. Mobile service revenue increased 1.7% QoQ. These results are attributable to the company’s commitment to placing customers at the core of its business and implementing a range of measures to strengthen fundamental competitiveness.

SKT recently revamped its membership program to expand customer benefits and improve ease of use. The company is also advancing a restructuring of its rate plans to further enhance customer choice.

SK Broadband, the company’s fixed-line subsidiary, recorded revenue of KRW 1.1498 trillion and operating income of KRW 116.6 billion, up 3.2% and 21.4% year over year (YoY), respectively, driven by growth in high-speed internet subscribers.

■ AI Data Center business accelerates, fuelling full-scale push into AI B2B market

SKT’s AI business is delivering tangible results through its strategy of focus and selectivity.

The AIDC business, a key growth engine, recorded revenue of KRW 131.4 billion in the first quarter, surging 89.3% YoY. Performance was driven by higher utilization rates at data centers including the Gasan (Seoul) data center, as well as increased revenue from GPUaaS (GPU-as-a-Service), adding further momentum to the business.

A service that provides GPU resources in a cloud-based model according to customer demand

As AI infrastructure demand from global Big Tech companies accelerates rapidly, SKT plans to reinforce its competitiveness across the full AIDC value chain and continuously expand its infrastructure footprint.

The company will also broaden its push into the AI Business-to-Business (B2B) market. As the only domestic provider with full-stack capabilities spanning AI infrastructure, models, and services, and drawing on its accumulated experience in the enterprise business, SKT plans to make a full-scale entry into the AI B2B market going forward. To this end, the company has recently established an integrated organization to drive enterprise business, reporting directly to the CEO.

In the AI Business-to-Consumer (B2C) space, SKT plans to enhance its fundamental competitiveness by creating synergies between the AI agent business and the telecommunications industry. In particular, its flagship AI service ‘A.’ (pronounced “A-dot”) is set to enhance its performance by leveraging a sovereign AI foundation model on par with leading global models, thereby strengthening its standalone competitiveness.

“The first quarter of 2026 was a meaningful period in which we delivered tangible results in line with this year’s goals — strengthening fundamental competitiveness centered on customer value and restoring profitability through a focused AI business,” said Park Jong-seok, CFO of SK Telecom. “Going forward, we will make every effort to restore our earnings by generating sustained results.”

※ The conference call in regard to SKT’s 1Q 2026 earnings results can be heard via SKT’s webpage on Thursday, May 7, from 16:00 Seoul Time.

※ Attachment 1. Summary of Consolidated Income Statement (Unit: KRW billion)

 

Type	26.1Q	25.1Q	YoY	25.4Q	QoQ
Revenue	4,392.3	4,453.7	△1.4%	4,328.7	1.5%
Operating Income	537.6	567.4	△5.3%	119.1	351.3%
Net Income	316.4	361.6	△12.5%	97.0	226.2%

※ Attachment 2. Summary of Non-Consolidated Income Statement (Unit: KRW billion)

 

Type	26.1Q	25.1Q	YoY	25.4Q	QoQ
Revenue	3,105.8	3,167.5	△1.9%	3,083.7	0.7%
Operating Income	409.5	482.4	△15.1%	130.8	213.2%
Net Income	332.7	474.6	△29.9%	106.0	214.0%