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  • FICCI opposes blanket US tariff, advocates evidence-based action on forced labour

    July 9: The Federation of Indian Chambers of Commerce and Industry (FICCI) has urged the United States to reconsider its proposed economy-wide tariff on Indian imports, stating that an evidence-based and sector-specific approach would be more effective in addressing concerns related to forced labour.

    Presenting the views of Indian industry during a hearing before the US Trade Representative (USTR), FICCI reaffirmed its commitment to eliminating forced labour from global supply chains. The industry body, however, expressed concerns over the proposal to impose a uniform 12.5% tariff across all Indian products and sectors, arguing that such a measure does not distinguish between compliant and non-compliant industries.

    FICCI stressed that targeted enforcement based on credible evidence, combined with stronger collaboration between governments and businesses, would better address labour rights issues while minimising disruptions to legitimate trade. It also noted that broad-based tariffs could adversely affect businesses, supply chains, and consumers without effectively addressing the underlying concerns.

    The industry body called for continued dialogue between India and the United States to strengthen trade relations while promoting responsible business practices and internationally accepted labour standards.

     

  • Global economy stays resilient amid Middle East tensions

    July 9: The global economy has continued to demonstrate resilience despite the ongoing conflict in the Middle East, with businesses, financial markets, and policymakers adapting to a challenging geopolitical environment.

    The tensions have created concerns over energy supplies, crude oil prices, inflation risks, and global trade flows. However, strong economic fundamentals in several major economies, supported by consumer demand and continued investment activity, have helped limit the broader impact of the crisis.

    Financial markets have remained watchful, with investors closely tracking developments in the region and assessing their potential impact on commodities, currencies, and economic growth. While volatility remains a concern, the global economic system has shown the ability to absorb external shocks.

    Experts believe the future outlook will depend on the duration of geopolitical uncertainties, the direction of energy prices, and policy responses from governments and central banks. Despite these challenges, the global economy continues to maintain stability, reflecting improved resilience compared with previous periods of global disruption.

  • Five Trends Every Investor Should Watch in 2026 – Equirus Family Office

    New Delhi, July 9: The latest edition of What We See, the monthly macro insights publication by Equirus Family Office, highlights five economic and market trends – from foreign capital flows and banking to income distribution and water security – that could shape India’s investment landscape in the coming years.

    The report notes that while geopolitical tensions, global trade uncertainties and commodity price volatility continue to influence markets worldwide, India’s combination of sustained economic growth, improving external balances, disciplined fiscal management and accelerating digital transformation continues to distinguish it among major emerging economies. At the same time, it highlights that long-term investors should focus on structural themes that extend beyond short-term market movements.

     Markets: Foreign investors make biggest bet on Indian financials in 14 months

    The report notes that foreign portfolio investors made their largest investment into Indian financial stocks in 14 months during the second half of June, reflecting renewed investor confidence in India’s financial sector. The renewed buying interest comes at a time when the country’s financial institutions continue to benefit from a supportive macroeconomic environment.

    Supporting this trend, the Indian Rupee emerged as Asia’s strongest-performing currency during June, aided by robust foreign capital inflows and softer crude oil prices. According to the publication, the strengthening rupee reflects growing investor confidence in India’s economic fundamentals while also helping improve macroeconomic stability by reducing imported inflation risks and strengthening the country’s external position.

    The report suggests that improving foreign investor participation in Indian financials, combined with stable macroeconomic indicators and continued domestic investment, could provide further support to India’s financial markets over the medium term. However, it adds that global geopolitical developments, interest rate movements and commodity prices will continue to remain key variables influencing capital flows.

     Economy: India’s macro indicators remain resilient despite global uncertainty

    The publication presents a broad snapshot of India’s macroeconomic strength, highlighting that the country continues to remain among the world’s fastest-growing major economies. “India’s economic story in 2026 is defined by resilient growth, controlled inflation, strong forex reserves and record digital adoption,” the report states.

    GDP growth is projected at 6.8-7.2% in FY27. Inflation has moderated to around 3.9%, reflecting easing price pressures and supporting consumer spending, while the Reserve Bank of India’s policy repo rate stands at 5.25%, creating a supportive environment for investment and economic activity.

    India’s external sector also remains well positioned. The report notes that the country’s foreign exchange reserves stand at approximately US$666.9 billion, providing a significant buffer against external shocks and enhancing confidence in macroeconomic stability. Fiscal consolidation also remains on track, with the Centre targeting a fiscal deficit of 4.3% of GDP, reinforcing its commitment to balancing growth with fiscal discipline.

    The report further highlights India’s growing attractiveness as an investment destination. Foreign direct investment of approximately US$39 billion, coupled with continued expansion of the country’s digital economy, reflects sustained investor confidence. India’s digital transformation continues to accelerate, with monthly UPI transactions crossing 18 billion, underlining the rapid formalisation of the economy and the growing adoption of digital financial services across households and businesses.

    The publication also notes that softer crude oil prices, with Brent crude trading around US$68-70 per barrel, have helped moderate inflationary pressures and improve India’s external balance. However, it cautions that risks such as geopolitical tensions, commodity price volatility and weather-related disruptions, including the possibility of an El Niño-led weak monsoon, remain important variables that could influence inflation, rural demand and economic growth in the coming quarters.

    Taken together, these indicators suggest that India’s economic growth continues to be supported by a combination of prudent macroeconomic management, resilient domestic demand, strong external buffers and sustained structural reforms, positioning the country favourably relative to many global peers.

    Banking: Credit card market remains concentrated among leading issuers

    The report maps the market share of India’s top credit card issuers as of April 2026, with HDFC Bank, SBI Cards, ICICI Bank and Axis Bank together accounting for over 70% of the market.

    According to the report, HDFC Bank retained its leadership position with a 22.14% market share, followed by SBI Cards (18.62%), ICICI Bank (16.08%) and Axis Bank (13.41%). Collectively, these four issuers account for over 70% of India’s credit card market, underlining their dominant position in one of the country’s fastest-growing retail lending segments.

    The next tier of issuers includes Kotak Mahindra Bank (3.93%), IDFC FIRST Bank (3.88%), RBL Bank (3.87%), Bank of Baroda (2.65%), IndusInd Bank (2.51%) and Yes Bank (2.47%). While their individual market shares remain relatively modest, the report indicates that competition among these players continues as banks focus on expanding consumer credit demand.

    The publication notes that India’s expanding digital payments ecosystem, rising consumer spending, increasing financial inclusion and growing preference for cashless transactions continue to provide a favourable backdrop for long-term growth in the credit card industry, making it one of the important segments to watch within the broader banking and financial services sector.

     Personal Finance: India’s income pyramid reveals perception and reality of wealth

    The report presents a compelling picture of India’s income distribution, suggesting that the country’s affluent population remains much smaller than commonly perceived, even as rising incomes continue to support premium consumption and wealth creation.

    Describing it as “the biggest income gap isn’t between lakhs and crores – it’s between perception and reality,” the report illustrates that only around 3.86 lakh individuals in India earn more than ₹1 crore annually. Another 1.4 crore people fall in the ₹22 lakh-₹1 crore annual income bracket, while around 12 crore Indians earn between ₹3 lakh and ₹22 lakh a year. In comparison, nearly 56 crore people earn between ₹1.8 lakh and ₹3 lakh annually, while approximately 70 crore Indians continue to earn below ₹1.8 lakh per year, highlighting the country’s wide income distribution.

  • Nearly 3,000 LPG cylinders swept away in Raigad floods after HPCL wall collapse

    July 9: Intense monsoon rains in Maharashtra’s Raigad district led to a major incident after a boundary wall at an HPCL LPG bottling facility collapsed, causing nearly 3,000 LPG cylinders to be carried away into a nearby river by strong floodwaters.

    Authorities have initiated recovery operations and are closely monitoring the situation to ensure public safety. Emergency teams are working to locate and retrieve the displaced cylinders, while precautionary measures are being taken to prevent any possible risks.

    The incident comes amid heavy monsoon activity across Maharashtra, which has caused flooding and damage to infrastructure in several areas. Officials have advised residents to remain alert and follow safety guidelines as rescue and recovery efforts continue.

  • PM Modi welcomes AustralianSuper’s Dollar 500 million India investment

    PM Modi welcomes AustralianSuper's Dollar 500 million India investment

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

    July 9: Prime Minister Narendra Modi welcomed AustralianSuper’s planned $500 million investment in India, describing it as a strong vote of confidence in the country’s long-term growth potential and investment environment. The investment reflects growing interest from global institutional investors in India’s expanding economy.

    Australian Prime Minister Anthony Albanese reaffirmed his government’s commitment to deepening economic ties with India, saying Australia will continue working closely with its strategic partner to strengthen trade, investment, and business cooperation.

    AustralianSuper CEO Paul Schroder praised Prime Minister Modi’s understanding of business and long-term investing, highlighting India’s strong growth prospects and the fund’s confidence in expanding its investments in the country. The announcement underscores the strengthening India-Australia economic partnership and growing collaboration between the two nations.

     

  • India advances free trade agenda after breakthrough EU deal

    July 9: India is stepping up efforts to expand its network of free trade agreements (FTAs) following the landmark trade pact with the European Union, marking a significant milestone in the country’s global trade strategy. The agreement is expected to strengthen India’s access to international markets, boost exports, and attract greater foreign investment.

    Building on this momentum, the government is pursuing trade negotiations with several key economies to deepen economic ties and create new opportunities for Indian businesses. Expanding the FTA network is aimed at improving market access for goods and services, enhancing supply chain integration, and increasing India’s competitiveness in global trade.

    The broader strategy aligns with India’s vision of becoming a leading global manufacturing and export hub while supporting long-term economic growth. Businesses across sectors are expected to benefit from reduced trade barriers, improved market access, and stronger cross-border commercial partnerships as India advances its trade agenda.

  • How Thermal Cameras help in resolving the critical building maintenance issues

    July 9: Hikmicro Thermal Cameras help identify critical issues in buildings for residential and commercial purposes. Thermal cameras don’t see walls. They see problems hiding inside them. In India’s climate and construction conditions, it is a special power that can be harnessed to identify and address the critical issues faced by building maintenance staff. Here’s where Hikmicro Thermal Cameras add value to building maintenance through its Thermal technology, products, and solutions.

    How Thermal Cameras help in resolving the critical building maintenance issues

    India Specific Challenges

    The India-specific problems are unique to Indian states and regions; they are markedly different from those in the US, the UK, and other European regions in terms of building maintenance. Let’s understand why thermal cameras matter in India-specific conditions and what kinds of building risks they detect. India has different climate scenarios in the North, East, West and South regions. There are places where extreme heat exceeds 45°C. There are wet regions where monsoon and humidity rule. 

    There is a consistent challenge of electrical overload, AC strain, water ingress and mould. The other building maintenance challenges include mixed construction quality, poor insulation, hidden leakage, and uneven load distribution. The constant power fluctuations and old wiring create new issues related to Hotspots, fire risk, and energy waste. All these issues add up, leading to high energy costs. The AC leakage through windows and walls causes a 30% increase in the electricity bill. Most issues are invisible until the bill spikes, the wall peels, or the fire starts. Thermal makes them visible in seconds.

    Using Hikmicro thermal cameras, facility managers can instantly pinpoint unseen building faults—such as electrical hotspots, roof leaks, and more. These non-invasive, predictive cameras measure surface temperature differences to identify underlying defects long before they cause costly downtime or structural damage.

    The most critical building maintenance issues easily identified by these thermal devices include:

    Electrical Faults & Safety Hazards

    Excessive heat is the primary early warning sign for electrical issues. Cameras immediately detect unbalanced loads, loose connections, and overloaded circuits. Catching hot breaker switches at an elevated 65°C, rather than the normal 35°C, prevents full power outages and serious fire risks.

    Damaged wires, electrical components, and connections would cause a variety of problems. Faulty wiring or components ageing may result in electronic damage due to overload. Electric sparks can cause large-scale fires, leading to property damage and even injuries to civilians. By diagnosing the issue early, technicians can make repairs before a total failure occurs.

    Moisture Intrusion & Hidden Water Leaks: Water has a higher thermal capacity than surrounding materials. Leaks from roofs, pipes, or stucco show up as distinct temperature anomalies. Wet insulation, framing, and drywall appear as colder spots, helping you address mould before it spreads.

    Air Infiltration & HVAC Leaks: Thermal cameras map airflow patterns, allowing technicians to spot unsealed windows, faulty door seals, and HVAC duct leaks. This visual data helps operators optimise HVAC systems, reduce energy costs, and improve indoor air quality.

    Mechanical Overheating: Thermal imaging detects heat signatures from mechanical equipment (e.g., pumps, belts, and motors). Finding bearings or motors running 10°C above normal operating temperatures helps prevent unexpected equipment failures and expensive component replacements.

    Residential Buildings

    Electrical Safety — Stop Fires Before They Start

    In India, 70% of residential fires are caused by electrical faults and short circuits. Thermal scan during society audits prevents them.  Hikmicro Thermal Cameras can detect overloaded MCBs, loose connections, overheating geysers, ACs and inverter faults. It can be done by scanning the DB box, switchboards, and junction boxes. If anything in the electrical meter room is >60°C or 15°C hotter than similar components, then it is considered a red flag.  

    Energy Loss & AC Efficiency: Hikmicro Thermal Cameras can find heat ingress from windows, doors, roof, AC duct leaks and missing insulation.  

    Commercial Buildings

    Predictive Maintenance 

    Hikmicro Thermal Cameras can detect hot breakers in LT panels, overheating motors, HVAC chiller faults, and UPS overheating. They can also help data centre racks, malls, IT parks, and factories avoid downtime risks. 

    Building Envelope & Solar Audit

    Hikmicro Thermal Cameras can detect glass-façade leaks, roof-insulation gaps, and solar-panel hotspots and dirty cells.  Sunrise/sunset scans show heat gain/loss.  In India, LEED/GRIHA compliance helps reduce HVAC load 20%+. This solution can validate solar ROI.  

    Fire Safety Compliance

    Hikmicro Thermal Cameras can find overheating cable trays, diesel generator exhaust leaks, and kitchen duct grease hotspots.  

    Hikmicro Thermal Cameras Help Myriad End-users

    These Hikmicro Thermal Cameras can be highly useful tools for Housing Societies, Residential Welfare Associations (RWAs), Facility Managers and MEP Contractors, Energy Auditors, and Green Consultants.

    This way, Hikmicro Thermal Cameras can help with the maintenance and upkeep of residential and commercial buildings by timely detection of electrical faults and other issues.  

  • Indian shares open higher as investors buy on dips despite geopolitical concerns

    Indian shares open higher as investors buy on dips despite geopolitical concerns

    July 9: Indian equity markets opened on a positive note on Thursday, with benchmark indices recovering from the previous session’s decline as investors returned to buy stocks at attractive valuations. The gains reflected improved risk appetite in early trading, although caution persisted amid renewed geopolitical tensions.

    Most sectoral indices traded in positive territory, led by gains in pharma and healthcare stocks, while IT shares remained subdued ahead of the quarterly earnings season. Investors continued to monitor developments in global crude oil prices and broader macroeconomic trends, which are expected to influence market sentiment in the coming sessions.

    Market participants are also focusing on the upcoming corporate earnings announcements for further cues on the strength of the economic recovery and the outlook for Indian equities.

  • Infrastructure Corridors Drive India’s Housing Market: Magicbricks PropIndex Report

    New Delhi, July 9: India’s residential market is entering a new phase where infrastructure, affordability and connectivity – not simply metro status – are determining where residential demand is growing. According to Magicbricks PropIndex Report between April and June 2026, the residential demand dropped 1.2% quarter-on-quarter . However, Kolkata, Noida, Greater Noida and Pune continued to attract stronger homebuyer interest, signalling an increasingly selective housing market. 

    Among 13 cities mentioned in the report, Kolkata recorded the strongest demand growth at 7.5% QoQ, followed by Noida , Greater Noida  and Pune . In contrast, demand moderated across several established metropolitan markets, including Hyderabad , Chennai, New Delhi and Bengaluru , while Mumbai  remained broadly stable. The trend indicates that homebuyers are increasingly gravitating towards markets offering a stronger balance of affordability, connectivity, housing choice and long-term value.

    The supply side also reflected this emerging divide. National residential supply increased by 1.2% QoQ, led by Bengaluru , Gurugram , Hyderabad and Kolkata. However, Noida  and Pune witnessed comparatively lower supply additions despite recording some of the country’s strongest demand growth, suggesting healthy inventory absorption and improving market fundamentals.

    Residential prices remained resilient across India, rising 1% QoQ nationally. Greater Noida emerged as India’s fastest-appreciating major residential market, recording 1.9% QoQ price growth, highlighting how infrastructure investments are translating into stronger residential demand and capital appreciation. Kolkata recorded a healthy 1% QoQ increase, while Noida and Pune maintained stable pricing despite rising buyer demand, reinforcing their affordability advantage. Meanwhile, Hyderabad (+2.4%), Bengaluru (+1.9%) and Gurugram  continued to witness price appreciation even as demand softened, reflecting sustained long-term developer confidence in these markets.

    Prasun Kumar, CMO, Magicbricks, said,

     “India’s residential market is becoming increasingly selective rather than cyclical. Homebuyers today are choosing infrastructure ecosystems as much as cities. Markets with stronger connectivity, employment opportunities and affordable housing are attracting greater buyer interest, even as overall market activity moderates. Greater Noida exemplifies this shift. With the upcoming Noida International Airport and expanding expressway network, the region is evolving into a self-sustaining economic corridor rather than just an extension of Delhi NCR. As this trend strengthens, residential growth will become increasingly concentrated in markets where infrastructure translates into everyday livability and long-term economic opportunity.”

    Further, the report also highlighted, 2 BHK homes accounted for 42% of demand, followed by 3 BHK homes at 37%, together making up close to 79% of buyer interest. On the supply side, developers continued to prioritise larger homes, with 3 BHK units accounting for 46% of available inventory.

    Magicbricks is India’s No.1 property site

    As the largest platform for buyers and sellers of property to connect in a transparent manner, Magicbricks has monthly traffic exceeding 2 crores and an active base of over 15 lakh property listings. Magicbricks has metamorphosed into a full stack service provider for all real estate needs, with services including home loans, interiors, and expert advice.

    With 17+ years of experience and deep research-based knowledge, Magicbricks also presents a repertoire of insight-driven platforms like MBTV – India’s leading online real estate YouTube channel – and other proprietary tools so that home buyers can access all information related to price trends, forecasts, and locality reviews.

  • XECH Introduces SteamX Fold to Simplify Everyday Garment Care at Home & On the Go

    XECH Introduces SteamX Fold to Simplify Everyday Garment Care at Home & On the Go

    Mumbai, July 9: XECH Technologies, a leading manufacturer of innovative portable home appliances and consumer electronics, has announced the launch of the SteamX Fold. The hybrid portable garment steamer is designed to make everyday clothing care faster, easier, and more convenient. Combining powerful steam performance with a compact, foldable design, SteamX Fold delivers wrinkle-free garments without the hassle of traditional ironing, making it ideal for modern homes and life on the move.

    Featuring a sleek retro-inspired design with a premium beige glossy finish. The SteamX Fold is equipped with a 180-degree foldable handle that makes it compact, lightweight, and easy to store or carry. Whether at home, in the office, on business trips, vacations, or special occasions, the handheld steamer allows users to quickly refresh garments in just minutes.

    Powered by a 1200W heating system that delivers 13–23g/min of continuous steam. SteamX Fold supports both vertical steaming for hanging garments and horizontal steaming for clothes laid flat, offering the versatility of a hybrid garment care solution. The integrated base plate ensures smoother steaming and better fabric contact, delivering consistent results across a wide range of clothing types.

    The steamer offers six dedicated fabric presets, enabling users to safely steam cotton, linen, silk, wool, denim, plush fabrics, and other everyday materials. From shirts, trousers, sarees, dresses, suits, jackets, uniforms, and delicate garments to everyday office wear, SteamX Fold adapts effortlessly to a wide range of wardrobe needs.

    Designed for uninterrupted convenience, SteamX Fold comes with a 200ml water tank that can comfortably steam 7-8 garments in a single refill. It reduces the need for frequent refilling during everyday use.

    To further enhance the user experience, the device includes one-button operation, self-cleaning functionality, leak-resistant construction, and boil-dry protection. This makes it suitable for both first-time users and frequent travellers alike.

    Commenting on the launch, Pranay Punjabi, Founder & CEO, XECH, said: “Today’s consumers expect products that simplify everyday routines without compromising on design or performance. SteamX Fold reflects our philosophy of creating smart lifestyle solutions that are practical, portable, and beautifully designed. As a hybrid garment steamer with thoughtful features, multiple fabric presets, and a large-capacity water tank, it delivers fast, safe, and effortless garment care wherever life takes you.”

    SteamX Fold further strengthens XECH‘s expanding portfolio of innovative home and lifestyle products designed around convenience, portability, and thoughtful functionality.

    The launch reinforces the company’s commitment to developing products that seamlessly integrate into modern lifestyles while offering premium experiences at accessible prices. SteamX Fold is available on the company’s official website, other leading e-commerce platforms and retail partners across India.