Business

New Delhi, June 9 (IANS) The National Highways Authority of India on Tuesday rolled out a series of technology-driven initiatives aimed at modernising maintenance practices across National Highways and Expressways, with a focus on improving road quality, operational efficiency and the overall travel experience for commuters.

As part of the move, NHAI has issued comprehensive guidelines mandating mechanised maintenance of drainage systems in urban and built-up areas, along with the deployment of advanced road maintenance equipment such as automatic pothole filling, compacting and patching machines, and mechanised road sweeping machines.

The authority said the initiatives are designed to strengthen preventive maintenance practices, improve the quality of upkeep and ensure stricter compliance with maintenance contracts.

The measures are also expected to enhance the sustainability of highway infrastructure and reduce inconvenience for road users.

Ahead of the monsoon season, NHAI has made mechanised cleaning of lined drains mandatory for urban stretches of National Highways and Expressways.

The framework involves the integrated use of advanced equipment, including high-flow suction and jetting units, hydraulic grab machines and dewatering pump sets.

These systems will be used for dewatering, loosening accumulated silt, removing slurry and clearing heavy debris from drainage channels to improve stormwater management and reduce the risk of waterlogging.

The authority has also directed contractors and concessionaires to strictly follow prescribed maintenance schedules and inspection programmes for drainage systems.

Compliance with timelines for rectifying drainage-related deficiencies will be closely monitored to ensure prompt action and prevent deterioration in road conditions.

In another major step, NHAI has incorporated automatic pothole filling, compacting and patching machines, as well as mechanised road sweeping machines, into the list of equipment to be deployed under Performance-Based Maintenance Contracts (PBMC).

The framework provides a mechanism for assessing and approving costs related to the deployment of these technologies in ongoing maintenance projects.

According to NHAI, the use of automated pothole repair machines will help accelerate pavement maintenance, reduce response times and minimise disruptions for highway users.

Timely repairs are expected to improve ride quality and preserve the structural integrity of road infrastructure.

--IANS

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New Delhi, June 9 (IANS) India’s space sector is witnessing a significant transformation as startups increasingly emerge as key players in deep tech innovation, marking a shift from a traditionally state-led model to a more collaborative state–private ecosystem, according to a report.

A report by The Diplomat noted that the development comes after Indian startup GalaxEye successfully launched the world’s first OptoSAR satellite, a milestone that underscores the growing capabilities of domestic private firms in advanced space technologies.

GalaxEye’s OptoSAR technology integrates optical and synthetic aperture radar (SAR) imaging, enabling high-resolution earth observation even in challenging weather conditions such as cloud cover, a capability particularly relevant for tropical regions.

Alongside GalaxEye, Bengaluru-based startup Pixxel has emerged as a key player in India’s private space sector, gaining global recognition for its hyperspectral imaging satellites designed for applications including agriculture, climate monitoring, mining, defence and environmental analysis.

The report noted that Pixxel recently drew international attention after securing a contract linked to the US National Reconnaissance Office (NRO), underscoring the growing global integration of Indian space startups in strategic technology domains.

For decades, India’s space programme remained largely state-driven, with the Indian Space Research Organisation (ISRO) serving as the primary institution for research, satellite development and launch missions. Private participation was largely limited to manufacturing and support services.

Space technology is now viewed not only as a strategic domain but also as a critical component of national security, digital infrastructure, artificial intelligence development and economic competitiveness.

While the global space economy is expected to exceed $1 trillion by the 2040s, India currently accounts for around 2 per cent of the market, valued at about $8.4 billion, according to the report.

It stated that the government has set a target of increasing this to $44 billion by 2033.

Moreover, policy reforms introduced since 2020 have played a crucial role in enabling this shift. The liberalisation of the space sector has opened new opportunities for private players, marking a departure from India’s earlier state-centric model.

The establishment of the Indian National Space Promotion and Authorisation Centre (IN-SPACe) has been a key institutional development, acting as a facilitator between ISRO and private companies by providing access to infrastructure, technical support and regulatory guidance.

According to the report, these changes signal the emergence of a “state–startup developmental partnership” in India’s deep tech ecosystem, where private innovation and state support are increasingly aligned to advance strategic and economic objectives.

--IANS

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New Delhi, June 9 (IANS) Public sector banks (PSBs) are increasingly embracing artificial intelligence (AI) and are keen to adopt next-generation technologies to improve customer service, operational efficiency and risk assessment, Arundhati Bhattacharya, President and CEO, Salesforce India and South Asia, said on Tuesday.

In an interaction with IANS, the former State Bank of India (SBI) chairperson said public sector lenders have recognised the need to adapt to rapid technological changes and are willing to move quickly once they commit to transformation.

"Public sector banks are waking up to the reality that they need to be part of this new age. One good thing about public sector banks is that when they make up their minds, they move very quickly," she said.

According to her, many state-run banks are looking to leapfrog directly to the latest technologies rather than adopting them incrementally, reflecting their willingness to embrace rapid digital transformation.

She highlighted the potential of agentic AI, which can independently perform tasks and interact with users, saying it could significantly improve customer servicing in the banking sector.

"Agentic AI, in particular, is very well suited for customer servicing, which has historically been a challenge across the banking sector," she told IANS.

Bhattacharya noted that AI can help banks strengthen underwriting processes by analysing data from multiple sources, identifying potential risks, and reducing errors in decision-making.

The technology can also improve operational efficiency and enable banks to engage more effectively with customers, she added.

In addition, AI-driven tools can help banks expand customer outreach and offer more personalised services while enhancing productivity.

Bhattacharya said that Salesforce observed increased customer engagement after introducing an agentic AI layer in its support systems. "When we introduced an agentic layer on our own helpline, we found that customers actually asked more questions because they were getting useful responses. The same principle can apply in banking," she told IANS.

Bhattacharya further said that AI is expected to play an increasingly important role in shaping the future of banking as financial institutions continue to explore its applications across customer service, lending, risk management and operations.

--IANS

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New Delhi, June 9 (IANS) Five new Solar Community Hub Skill Vans were flagged off by MoS (Independent Charge) for Skill Development and Entrepreneurship and MoS for Education, Jayant Chaudhary, on Tuesday, aimed at expanding digital access and future-ready skilling across India.

The initiative -- developed by Dell Technologies in collaboration with the National Skill Development Corporation (NSDC) and implemented by the Learning Links Foundation -- marks the next phase of Dell’s global effort to bridge the digital divide through technology-enabled learning.

The skill vans will be deployed across Uttar Pradesh, Delhi-NCR, Karnataka, Telangana and Maharashtra, bringing solar-powered technology, AI-enabled learning tools and employability-focused training directly to youth, women and underserved communities.

According to the government, each van is equipped with laptops, interactive screens, internet connectivity and renewable energy systems, and is designed to deliver customized skilling modules along with structured employability pathways. Moreover, the programme will extend technology-enabled learning support to over 50 vocational, higher education and community institutions.

Speaking on the occasion, the minister said the Solar Community Hub Skill Vans reflect a shared commitment to making technology and opportunity accessible across the country.

He said the vans are more than digital learning spaces and act as centres of aspiration, combining clean energy, AI-enabled education and industry-aligned skilling to prepare youth for emerging opportunities.

Dell Technologies India President and Managing Director Manish Gupta said the initiative reflects the company’s commitment to inclusive, technology-led growth and highlights the impact of collaboration between government, industry and communities.

He added that the skill vans are aimed at preparing a new generation of learners for future jobs by delivering training within their own communities.

Since the launch of the first Solar Community Hub Skill Vans in FY23, the programme has reached 18 districts across 14 states, directly impacting 2.67 million beneficiaries. Globally, the initiative operates 63 skill vans across 12 countries.

--IANS

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New Delhi, June 9 (IANS) Indian equity markets ended higher on Tuesday, supported by late buying in select sectors such as PSU banks, financial services, and automobiles, while improving global risk sentiment also aided investor confidence.

The benchmark indices closed in the green, with the Nifty rising 119.10 points, or 0.52 per cent, to settle at 23,242.10.

The Sensex also gained momentum towards the fag end of the session and ended 394.50 points, or 0.54 per cent, higher at 73,918.76.

Commenting on Nifty technical outlook, experts said that a sustained move above 23,300 could pave the way for a recovery towards the 23,450–23,550 region, which remains the next significant resistance zone.

“On the downside, the 23,100 region has emerged as an immediate intra-day support zone. However, a decisive break below 23,000 could trigger profit booking and drag the index towards the 22,800–22,700 support region,” an analyst mentioned.

Market sentiment improved after comments from US President Donald Trump indicated that peace talks are underway with Iran, following a halt in hostilities between Iran and Israel.

The easing geopolitical tensions boosted global risk appetite, which reflected in domestic markets as well.

Buying interest was visible across broader markets as well, with the Nifty MidCap index rising 1.35 per cent and the Nifty SmallCap index advancing 1.69 per cent.

Among the major contributors to the gains, InterGlobe Aviation, Jio Financial Services, and Eicher Motors emerged as the top performers within the Nifty pack, driving index gains during the session.

Sectorally, PSU banking stocks led the rally, with the Nifty PSU Bank index surging over 3 per cent.

The Nifty Realty, Nifty Auto, and Nifty Financial Services indices also ended the session with healthy gains, supported by buying interest in rate-sensitive and cyclical sectors.

However, not all sectors participated in the uptrend. The Nifty IT and Nifty Media indices witnessed declines and emerged as the top laggards for the day.

Experts said that the session remained positive, with late buying lifting benchmarks to a higher close despite mixed sectoral performance.

--IANS

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New Delhi, June 9 (IANS) India has retained the strongest hiring outlook globally for the third quarter of 2026, with employers reporting a Net Employment Outlook (NEO) of 48 per cent, though companies are expected to adopt a more measured approach to recruitment amid evolving business conditions, according to a report released on Tuesday.

According to an analysis by ManpowerGroup, the Net Employment Outlook (NEO) is 48 per cent for the July-September quarter.

Around 60 per cent of employers expect to increase hiring during the quarter, while 29 per cent plan to maintain current staffing levels.

About 11 per cent anticipate a reduction in workforce and 1 per cent remain uncertain about their hiring plans, it said.

"India's Q3 2026 hiring outlook remains the strongest globally, reflecting continued employer confidence in the country's growth trajectory despite an increasingly complex business environment," said Sandeep Gulati, Managing Director, ManpowerGroup India and Middle East.

He said the moderation from the previous quarter reflected a more cautious and selective hiring approach rather than a decline in business confidence.

Strong activity in manufacturing and services, along with the continued expansion of Global Capability Centres (GCCs), continues to support hiring demand, he added.

At the same time, employers are navigating challenges such as AI-led workforce optimisation, softer demand for entry-level hiring, global trade uncertainty and geopolitical developments affecting supply chains and business costs.

Sector-wise, hiring sentiment weakened across eight of the nine sectors tracked in the survey on a quarter-on-quarter basis.

The trade and logistics sector recorded the sharpest decline in hiring expectations, followed by the public sector, health and social services, and information sectors.

Hospitality was the only sector to report an improvement in hiring expectations compared to the previous quarter.

The utilities and natural resources sector emerged as the most optimistic, posting a NEO of 61 per cent.

Despite a quarterly decline, the sector's outlook was 12 percentage points higher than a year ago and ranked the highest globally.

In addition, the finance and insurance sector was among the strongest performers on a yearly basis, a 14-point increase in hiring expectations compared to the third quarter of 2025.

Regionally, eastern India reported the strongest hiring outlook at 52 per cent, while southern India recorded the highest year-on-year improvement, with expectations rising by 10 percentage points.

Moreover, the report highlighted the growing role of artificial intelligence in workforce planning, while underscoring the continued importance of human skills.

About 75 per cent of employers said a person reviewing resumes remains the most valuable hiring resource, ahead of AI-based recruitment and screening tools.

Communication and collaboration skills were identified as the most sought-after capabilities, followed by problem-solving, time management and a strong work ethic.

According to the report, more than 84 per cent of employers are willing to pay a premium for AI-related skills, including AI model and application development as well as AI literacy.

--IANS

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Mumbai, June 9 (IANS) Tata Consultancy Services expects a major transformation in the coming years, with artificial intelligence (AI) becoming deeply integrated into its workforce and operations, its Chairman N Chandrasekaran said on Tuesday.

Speaking at the 31st Annual General Meeting here, he said that over the next three years, the company could have as many AI agents as human employees, marking a major shift in how work is done at TCS.

He said the company is building what he called “the most consequential work” in its history, as AI reshapes the global technology services industry.

“Some say AI poses a fundamental threat to that model. I see it differently: far from being a mortal threat, AI is the most significant opportunity yet for enterprise IT,” he said.

According to him, nearly three-fourths of enterprises worldwide expect their technology spending to rise in the next two years, driven largely by AI adoption.

“Globally, three-quarters of enterprises expect technology spend to increase over the next two years, largely thanks to AI,” he added.

Chandrasekaran also pointed to strong momentum in TCS’s AI business. He said that in the last quarter of FY26, the company recorded an annualised AI revenue of $2.4 billion, which is growing at a compound quarterly growth rate of 22.4 per cent.

He noted that despite investor concerns and recent pressure on the broader IT sector, the company’s fundamentals remain strong, with stable margins, rising revenues and a strong deal pipeline.

“Today, AI primarily exists in the world of software and computers, but soon it will make inroads into the physical world: stores, factories, warehouses, energy networks, vehicles and supply chains. This will require experts who understand how to link IT, AI and physical equipment and infrastructure,” he explained.

Addressing concerns about AI replacing jobs in the IT services industry, he acknowledged that a key question has emerged: if AI can perform much of the work, what happens to a sector built around delivering those services?

However, he argued that the fear is based on a misunderstanding of how AI will interact with enterprise systems.

--IANS

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Ahmedabad, June 9 (IANS) India’s leading energy solutions provider, Adani Energy Solutions Limited (AESL), on Tuesday announced that it has signed a binding securities purchase and subscription agreement (SPSA) to acquire a 100 per cent stake in smart metering company IntelliSmart Infrastructure Private Limited in a transaction valued at Rs 3,050 crore.

The proposed acquisition will strengthen AESL's position in the smart metering segment and take its total smart meter portfolio to more than 4.7 crore meters -- India's largest smart metering platform, according to the company.

AESL said the transaction includes the acquisition of the entire equity share capital of IntelliSmart as well as the redemption of optionally convertible debentures held by NIIF.

The completion of the deal remains subject to regulatory approvals and other customary closing conditions.

IntelliSmart is a leading smart metering joint venture between the National Investment and Infrastructure Fund (NIIF) and Energy Efficiency Services Limited (EESL). It owns and operates a portfolio of more than 2.2 crore smart meters across Uttar Pradesh, Gujarat, Madhya Pradesh, Bihar and Assam.

The company said IntelliSmart's presence in several high-growth consumer markets is expected to provide a strong platform for future expansion.

"Acquisition of IntelliSmart enhances our scale and execution capabilities, enabling us to support India's power distribution modernisation through technology-led solutions," said Kandarp Patel, CEO of Adani Energy Solutions.

AESL said the acquisition aligns with its strategy of pursuing value-accretive growth through both organic and inorganic opportunities.

The company has expected that the transaction to generate operational synergies through economies of scale, optimisation of operations and maintenance costs, and integration with its broader energy and infrastructure platform.

IntelliSmart Managing Director and CEO Anil Rawal said the transaction marks a significant milestone for the company and is expected to accelerate the digitalisation of India's power distribution sector.

Vinod Giri, Managing Partner at NIIF, said IntelliSmart's growth into one of the country's leading smart metering platforms reflects the fund's ability to build and scale infrastructure businesses in emerging sectors.

He added that the transaction represents an important milestone in NIIF's infrastructure investment strategy and enables it to unlock value while continuing to support India's digital and energy transition.

EESL CEO Akhilesh Dixit said the company remains committed to advancing energy efficiency and digital transformation across India's power sector and believes the transaction will further strengthen IntelliSmart's ability to serve power distribution companies and consumers at scale.

--IANS

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New Delhi, June 9 (IANS) IPO-bound quick commerce platform Zepto has disclosed in its updated draft red herring prospectus (UDRHP) that its founders -- Aadit Palicha and Kaivalya Vohra -- received summons from the Directorate of Enforcement (ED) in April under proceedings linked to the Foreign Exchange Management Act (FEMA), 1999.

According to the updated filing submitted to the Securities and Exchange Board of India (SEBI), the ED sought information and documents related to the company and its promoters, including details of foreign investments, shareholding patterns, financial statements, loans and guarantees, income tax returns, bank accounts and the company's business model.

The disclosure was made in the updated IPO papers filed with the Securities and Exchange Board of India (SEBI) as the company prepares for its stock market debut.

According to the filing, the ED issued summons dated April 8 to both promoters, requiring them to appear before the agency and furnish information relating to the company's business and their personal holdings.

The information sought included details of foreign and overseas investments, audited financial statements since FY21, immovable properties, shareholding patterns, loans and guarantees, income tax returns, bank accounts and a note on the company's business model.

Complying with the summons, Kaivalya Vohra appeared before the ED on April 17 and April 22, while Aadit Palicha appeared on April 20 and May 15.

The filing stated that the founders provided the information and documents sought by the ED, along with additional details requested during subsequent interactions with the agency.

These included information relating to the company's holding structure, business arrangements and supporting documents such as agreements and invoices.

"As on the date of this Updated Draft Red Herring Prospectus-I, we have not received any further communication from the ED since submitting our response," the company said in the filing.

However, Zepto noted that it could not assure investors that there would be no future inquiries or that the matter would not escalate into investigations, legal proceedings or possible penalties.

The disclosure has been included under the risk factors and promoter-related litigation sections of the updated prospectus.

SEBI had approved Zepto's proposed initial public offering in May. The public issue is expected to comprise a fresh issue of equity shares worth about Rs 8,000 crore and an offer for sale by existing shareholders.

The company plans to utilise the proceeds from the fresh issue to expand its dark store network, strengthen technology and cloud infrastructure, and support marketing and business promotion activities through its subsidiary, Zepto Marketplace Private Limited.

--IANS

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Ahmedabad/New Delhi, June 9 (IANS) South Asia, and particularly India, can unlock significant opportunities for employment, investment, economic growth and poverty reduction through agricultural and food transformation with the help of key government initiatives, the World Bank Group said on Tuesday.

The Ministry of Food Processing Industries (MoFPI), in collaboration with the World Bank Group-led SAPLING initiative, inaugurated the Regional High-Level Policy Dialogue in Ahmedabad.

At the ‘SAPLING High-Level Policy Dialogue,’ the World Bank Group highlighted that transforming food systems beyond the farm can unlock significant opportunities.

South Asia stands at a critical moment in its development journey. The region’s agriculture sector is valued at over $700 billion annually and employs nearly 43 per cent of the workforce.

However, despite its scale, agriculture contributes only around 16 percent of the region’s GDP. More than 30 percent of food produced in South Asia is lost or wasted every year — enough to feed nearly 300 million people, said experts.

They emphasised that the next phase of agricultural transformation lies not merely in increasing production but in expanding food processing, storage, logistics, marketing, and value addition. These activities can create millions of productive jobs while reducing food losses and increasing farmers’ incomes.

In India, food grain production has increased from 51 million tonnes in 1950-51 to more than 330 million tonnes today.

Processed food exports have also more than doubled over the past decade, rising from approximately $4.9 billion to over $10 billion. The food processing sector currently contributes around 9 per cent of manufacturing value added and nearly 13 per cent of India’s exports.

Despite this progress, significant opportunities remain, said experts.

Food processing currently accounts for only a small share of total employment, and a large proportion of agricultural produce still remains unprocessed. Strengthening cold chains, storage facilities, logistics networks, and market linkages can substantially increase value creation across the sector, they noted.

To accelerate this transformation, the World Bank Group is advancing a combined approach through AgriConnect and SAPLING.

AgriConnect, a global platform, aims to connect 300 million farmers to markets by 2030 through investments in infrastructure, policy reforms, and private capital mobilisation.

The initiative is already supporting projects and reforms across countries including India, Bangladesh, and Sri Lanka.

Participants at the Dialogue highlighted the importance of coordinated action by governments, businesses, investors, and development institutions. Investors were encouraged to support cold chains, warehousing, logistics hubs, processing clusters, agro-industrial parks, and emerging agri-enterprises.

Companies were urged to build integrated value chains, adopt digital technologies for traceability and quality assurance, and invest in workforce skills and capacity building.

--IANS

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