Business

New Delhi, April 10 (IANS) Artificial intelligence will soon become an integral part of governance and everyday life, but it must be used as an enabling tool rather than a replacement for human intelligence, Union Minister of State Dr. Jitendra Singh said on Friday.

Addressing VAKTAVYA 2026 here, Singh highlighted the growing importance of emerging technologies and said AI is no longer optional but inevitable.

He stressed that while AI can significantly aid research, analysis and decision-making, it should work alongside human intelligence in a “hybrid model” rather than overshadow it.

The minister also spoke about India’s progress in the energy sector, highlighting the indigenously developed Prototype Fast Breeder Reactor (PFBR) as a major milestone towards self-reliant energy security.

“The reactor uses plutonium with liquid sodium as a coolant, allowing higher energy output with lower input, and will help pave the way for thorium-based reactors in the future, leveraging India’s vast thorium reserves,” he said.

On the startup ecosystem, Singh said India has emerged as one of the leading startup hubs globally, with more than two lakh startups now operational.

“Nearly half of these are coming from tier-2 and tier-3 cities such as Sonipat, Panipat and Surat, showing how innovation is spreading beyond major urban centres,” he mentioned.

He also pointed to the rising participation of women in entrepreneurship.

Highlighting education reforms, Singh said the National Education Policy has brought a major shift by giving students more flexibility in choosing subjects and exploring interdisciplinary learning.

“This allows students to align their education with their interests and career goals,” he noted.

The minister also referred to initiatives like the VAIBHAV programme, which connects Indian scientists abroad with institutions in the country, and the Pratibha Setu portal, which helps link UPSC aspirants with potential employers if they do not make it to the final selection.

During his interaction with students, Singh encouraged them to adopt a broader mindset and explore opportunities beyond traditional career paths.

He said the current era offers unprecedented opportunities due to technological advancements and policy reforms, urging young people to make the most of them and contribute to India’s growth.

--IANS

pk

New Delhi, April 10 (IANS) Tata Sons chairman N. Chandrasekaran told Air India staff on Friday that the airline is facing a challenging period and urged employees to focus on execution and cost discipline.

“While our future is bright and we have laid a solid foundation for our ambition, we are going through a challenging time,” Chandrasekaran said, adding that the key "is staying focused on execution."

"Our focus should be on what is within our control, where we can improve, be precise on costs and remain grounded in the reality of the situation,” he added.

Chandrasekaran stressed that safety is of "utmost importance and non-negotiable" for Air India, central to decisions across operations, engineering, training and customer experience.

“Work together, keep the customer in mind. The journey has just begun, and we have a long way to go. Keep at it. We will get there," Chandrasekaran said.

Chandrasekaran's comments come amid leadership and operational changes in airlines with Chief Executive Campbell Wilson announcing his intention to step down in 2026. The Tata-owned carrier informed that Campbell will stay in the role until his successor is in place.

Air India fell under intense regulatory scrutiny since the June 2025 crash of a Boeing 787 near Ahmedabad, which killed 260 individuals.

Subsequent reports said that Air India was reprimanded for safety lapses, including flying an aircraft multiple times without a valid airworthiness certificate and without proper emergency equipment checks.

Amid the US-Iran war, Air India had cancelled around 2,500 flights to West Asia over three weeks, only running 30 per cent of its normal Middle East schedule.

Pilot body Airlines Pilots’ Association of India (ALPA) in March urged the Directorate General of Civil Aviation to initiate a thorough inquiry into the decision-making processes within Air India, particularly the roles of the Vice President - Operations and the Crew Scheduling Department.

—IANS

aar/na

New Delhi, April 10 (IANS) Nandan Reddy, co-founder of Swiggy, has stepped down from the company with immediate effect, according to an exchange filing on Friday.

Reddy is expected to start his own venture and focus on building a new startup, as per the report.

He played a key role in Swiggy’s early days, helping set up operations along with co-founder and group CEO Sriharsha Majety.

“Lakshmi Nandan Reddy Obul, WholeTime Director – Head of Innovation, has resigned with effect from April 10, 2026, to pursue other professional interests,” the company said in its exchange filing.

Over the years, he held multiple roles at the company and was most recently leading “Crew”, Swiggy’s AI-based concierge service.

His exit marks another major leadership change at the company. Earlier, co-founder Rahul Jaimini had left in 2020 to start his own venture.

With Reddy’s departure, he becomes the latest co-founder to move on from the company.

For now, Swiggy’s Vice President Aakash Bhotika, who has been working on Crew, will continue to oversee operations. The company has not yet announced a permanent replacement for the role.

Reacting to the development, Majety said Reddy had been a “visionary force” in Swiggy’s journey from a small Bengaluru-based startup to a nationwide platform serving millions of users.

He added that while Reddy’s daily presence will be missed, he is confident about his future ventures.

Reddy’s exit comes just weeks after another senior-level departure, with investor relations head Abhishek Agarwal also leaving the company.

At the same time, changes are taking place at the board level. Roger Clark Rabalais will step down as nominee director of Prosus, which is Swiggy’s largest shareholder with over 20 per cent stake. He will be replaced by Renan De Castro Alves Pinto.

Swiggy is also looking to strengthen its board and has proposed the induction of co-founder and Chief Growth Officer Phani Kishan and Chief Financial Officer Rahul Bothra as board members. The proposal is subject to shareholder approval.

--IANS

pk

New Delhi, April 10 (IANS) Krushna Chandra Panigrahy, director general, Bureau of Energy Efficiency, on Friday said that Indian users shifting from LPG to induction‑based cooking amid shortages caused by the West Asia war could add 13–27 gigawatts of additional power demand at the distribution level.

The wide band of 13–27 GW range is due to complexity of demand estimations because of the diverse usage patterns across regions, differences in climate, socio‑economic conditions, and cooking habits, Panigrahy said.

A significant impact on overall demand is yet to be seen, Panigrahy said, according to multiple reports.

India imports about 90 per cent of its LPG through the Strait of Hormuz, which has been disrupted by the West Asian conflict, prompting users to shift to electric induction stoves.

Piyush Singh, Additional Secretary, Power Ministry had said that India expects to add over 22 GW of capacity between April and June, including 3.5 GW of thermal, 10 GW of solar, 2.5 GW of wind, 1.9 GW of battery energy storage and 750 MW of hydro power. Further, additional capacities in pump storage and hybrid projects will contribute to the country's supply.

The power ministry has deferred maintenance of 10 GW of coal-based power plants by three months to be able to meet the country’s power demand in view of the West Asia war which has resulted in shortages of gas supplies.

“During this period, plants go to maintenance, however, considering requirement and loss of gas based supply we have deferred maintenance,” Singh said. He estimated peak power demand could reach 271 GW this year.

The official said that gas‑fired plants have been allowed to import their own LNG and that the government is monitoring coal supplies as they focus on capacity additions.

Global LNG export volume declined to 8.6mmt for the week ending March 7 and to 7.8 mmt in the subsequent week, from about 9.6 million tonnes per week in Feb 2026, largely due to a fall in Qatar’s shipments from 1.7 million tonnes to 0.06 million tonnes.

—IANS

aar/pk

Mumbai, April 10 (IANS) India must rethink its energy security strategy and reduce its dependence on traditional supply assumptions, especially its proximity to the Middle East, amid rising geopolitical uncertainties, ONGC Chairman and CEO Arun Kumar Singh said on Friday.

Speaking at an energy security conclave organised by the Petroleum and Natural Gas Regulatory Board, the ONGC chief warned that the recent West Asia conflict, which triggered one of the biggest energy shocks in decades, has exposed vulnerabilities in India’s energy supply chain.

“India currently depends on the Middle East for nearly half of its crude oil imports, around 30 per cent of its natural gas, and 85–90 per cent of its LPG needs,” he stated.

However, Singh cautioned against assuming easy access to these resources due to geographical proximity.

“Thinking that the Middle East is nearest to us and therefore all their resources can be accessed easily, we should take it with a pinch of salt,” he said.

The crisis was exacerbated by a six-week disruption of a key shipping route used by Gulf nations to export crude oil, natural gas and LPG, leading to supply constraints across several importing countries, including India.

The disruption forced authorities to prioritise gas allocation to critical sectors.

Highlighting the risks of an increasingly fragmented global order, Singh said a “paradigm shift” is underway.

“If the world gets more and more de-globalised, we will have more and more problems,” he noted, adding that India’s high import dependence makes it particularly vulnerable in such a scenario.

He stressed that boosting domestic production has become an “existential necessity” and called for aggressive exploration efforts.

“We should chase wherever oil or gas is in our country at any cost, because in a crisis nobody will help,” he said, while noting that deepwater exploration remains a challenge.

Singh also underscored the urgent need to expand strategic storage capacities to cushion against supply and price shocks.

“We must now address this storage whatever it takes,” he said. Pointing to growing volatility in global energy markets, he said refining economics have become increasingly unpredictable, with unusual instances where product margins exceeded crude costs.

--IANS

pk

Mumbai, April 10 (IANS) Indian equity benchmarks resumed their upward momentum on Friday after a brief one-day pause, as investors closely monitored developments in West Asia and assessed their potential impact on global markets.

Both the Nifty and the Sensex ended higher, extending their recent gaining streak. At the closing bell, Sensex was up 918.6 points, or 1.20 per cent, to finish the intra-day trading session at 77,550.25.

Nifty also followed suit and closed at 24,050.6, up 275.5 points, or 1.16 per cent.

Gains in the frontline indices were supported by select heavyweights, with stocks such as Asian Paints, Eicher Motors, Bajaj Auto, and Shriram Finance emerging as the top performers on the Nifty.

The broader markets outpaced the benchmark indices, reflecting strong investor participation beyond large-cap stocks.

The Nifty MidCap index closed 1.48 per cent higher, while the Nifty SmallCap index rose 1.67 per cent.

On the sectoral front, performance remained mixed. The Nifty IT index stood out as the top gainer, benefiting from buying interest in technology stocks.

In contrast, the Nifty Auto, Nifty Bank and Nifty Financial Services indices lagged behind the broader market -- underperforming their peers during the session.

Analysts said that the market sentiment remained cautiously optimistic, with traders balancing geopolitical concerns with continued domestic buying support.

Meanwhile, at the opening bell, both the Indian equity benchmarks was traded sharply higher, mirroring gains in global markets despite fresh geopolitical tensions and concerns over the closure of the Strait of Hormuz.

Earlier in the day, the 30-share index Sensex climbed to touch an intra-day high at 77,622.50, while Nifty surged to touch an intra-day high of 24,074.05.

However, at the early trade, the 30-share Sensex opened at 77,121, up 0.64 per cent or 489 points, while the 50-share index began the session at 23,880, gaining 0.44 per cent or 100 points.

--IANS

pk

New Delhi, April 10 (IANS) India and Qatar have reaffirmed their commitment to deepening strategic ties across key sectors including trade, energy and cultural exchanges, as Petroleum and Natural Gas Minister Hardeep Singh Puri held high-level talks in Doha during his two-day official visit, the Ministry of Petroleum and Natural Gas said on Friday.

Puri, who arrived in Doha on April 9, met Qatar’s Minister of State for Energy Affairs and President and CEO of QatarEnergy, Saad Sherida Al-Kaabi, where both sides reviewed the full spectrum of bilateral relations.

The discussions covered high-level engagements, trade and investment opportunities, energy cooperation, as well as cultural and people-to-people ties, reflecting the growing depth of the India-Qatar partnership.

“Both Ministers discussed all aspects of the strategic relations between the two countries including high level engagements, trade, investment, energy, culture and people-to-people relations,” the ministry said.

“They hoped for early return of peace and stability in the region and further strengthening of the bilateral relationship between India and Qatar,” it added.

During the meeting, Puri conveyed greetings and a message of solidarity on behalf of Prime Minister Narendra Modi to Qatar’s Amir, Sheikh Tamim bin Hamad Al Thani, and Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman Al Thani.

He also recalled the recent telephonic conversations between PM Modi and the Amir in March 2026 following the onset of regional tensions, during which both leaders underscored the need for peace and stability through dialogue and diplomacy.

PM Modi had also expressed gratitude for Qatar’s continued support to the Indian community residing there.

The two ministers expressed hope for an early restoration of peace in the region and agreed to further strengthen bilateral cooperation.

Al-Kaabi reiterated Qatar’s commitment to being a reliable energy partner for India and emphasised continued collaboration in the energy sector.

The leaders also welcomed the two-week ceasefire announced on April 8, stressing the importance of ensuring uninterrupted global energy supplies.

They highlighted the need for freedom of navigation and the smooth flow of global commerce to maintain stable supply chains.

Puri thanked his Qatari counterpart for hosting him, and both sides agreed to remain in close contact in the coming weeks as they work towards advancing mutual interests.

--IANS

pk

New Delhi, April 10 (IANS) Strengthening India's real estate insolvency framework needs a fundamental shift from entity‑level resolutions to a project‑centric model that prioritises completion and delivery of homes, a report said on Friday.

The report from ICRA called for strengthening coordination between the Insolvency and Bankruptcy Code, 2016 and the Real Estate (Regulation and Development) Act, 2016 to achieve this transition.

The Committee on Framing Guidelines for Insolvency Proceedings in the Real Estate Sector submitted its report to the Insolvency and Bankruptcy Board of India earlier this week.

The report highlighted the need for a shift from an entity-centric, recovery-focused framework to a project-centric, completion-driven approach with stronger coordination between both laws, said Manushree Saggar, Senior Vice President and Group Head, Structured Finance, ICRA Ltd.

“While the RE sector has the second-highest share in cases referred under the IBC, RE insolvency also presents unique challenges, as it has a higher social cost and directly affects large numbers of homebuyers,” she added.

Hence, project completion and delivery of homes is a more desirable outcome than financial recovery, Saggar noted.

The report highlighted 55 key issues affecting RE insolvency and has made 155 recommendations, covering structural, procedural and institutional aspects of the framework.

These recommendations are aimed at improving efficiency, ensuring timely completion of projects, enhancing stakeholder confidence, and strengthening alignment between insolvency processes and sectoral regulation.

They seek to harmonise insolvency law with real estate regulation, judicial guidance, and constitutional values, ensuring that the Code functions as an instrument of resolution rather than prolonged uncertainty.

“In ICRA’s opinion, better alignment between insolvency processes and real estate sector-specific regulations could improve efficiency and enable timely completion of projects, which in turn would enhance stakeholder confidence,” she said.

Ongoing and resolved insolvency cases together affect nearly a quarter of a million homebuyers, translating into housing insecurity for close to a million individuals when household size is considered.

—IANS

aar/na

New Delhi, April 10 (IANS) When combined with the government’s PMSuryaGhar initiative, which enables households to generate electricity through solar power, a new electric stove technology that mimics LPG flames could significantly reduce India’s dependence on liquefied petroleum gas (LPG), Union Minister Pralhad Joshi said on Friday.

In a post on social media platform X, Joshi shared his impressions of an innovative imported cooking stove that uses electricity to produce flame-like burners similar to those used in LPG-based cooking.

He described the technology as impressive and highlighted its potential to transform the way households cook, particularly in the context of India’s push toward cleaner and more sustainable energy solutions.

“Yesterday, an Indian company demonstrated an imported stove that uses electricity to generate flame-like burners, similar to LPG, for cooking,” Joshi said.

“I was truly impressed by this innovative technology and would like to see Indian manufacturers adopt and scale it domestically,” he added.

The minister noted that the technology, if adopted and scaled by Indian manufacturers, could play a crucial role in reducing reliance on LPG cylinders.

He emphasised that integrating such appliances with rooftop solar schemes like PMSuryaGhar would make cooking not only cleaner but also more cost-effective for households over time.

“When combined with PMSuryaGhar, which enables electricity generation through solar power, this innovation could be a game changer in reducing dependence on LPG,” the minister explained.

Meanwhile, India has been actively promoting renewable energy adoption at the household level, with schemes encouraging rooftop solar installations gaining traction in both urban and rural areas.

Joshi’s remarks come amid broader efforts by the government to reduce fossil fuel dependence and promote energy self-sufficiency.

By combining solar power generation with efficient electric cooking technologies, policymakers see an opportunity to cut subsidy burdens, lower emissions, and enhance energy security.

The minister also expressed hope that domestic manufacturers would take note of the innovation and develop indigenous versions suited to Indian cooking needs, potentially opening up a new segment in the clean energy appliance market.

--IANS

pk

New Delhi, April 10 (IANS) India should brace for geopolitical disruptions every one to two years and use the current pause in geopolitical tensions to push through long‑pending structural reforms, Prime Minister’s Economic Advisory Council (EAC-PM) Member and Axis Bank chief economist Neelkanth Mishra said on Friday.

The pause in hostilities offers a window to "hard‑wire resilience into growth” by accelerating reforms in electrification, housing, urban infrastructure and tourism, Mishra said.

The analyst noted that volatility is now structural rather than episodic but added that India is entering the volatile phase with stronger buffers compared to previous episodes in history.

“Compared to any other time in our history, we are much better prepared to deal with this,” he said, recalling a conversation with a senior policymaker who likened today’s environment to the turbulent 1989–93 period, according to a release from Kotak Private.

However, Mishra noted, that the India now has deeper capital markets, more robust external balances and greater policy credibility.

Mishra argued that while immediate fears of escalation have receded following calls for a two‑week ceasefire between Iran and the United States, the broader cycle of shocks is unlikely to end.

The Axis Bank chief economist singled out electrification as a strategic priority, noting that India remains far more vulnerable to oil and gas shocks than peers because too little end‑use energy consumption is electric. Accelerating electrification, combined with better energy pricing, would reduce exposure to geopolitics while improving efficiency, he said.

He also urged decisive policy action on housing and urban infrastructure, to create domestic demand largely insulated from global volatility.

India has “some of the most expensive tourism in the world,” driven in part by restrictive zoning and floor‑space norms, he said.

The economist said that hotel FSI and improving urban capacity would lower costs, raise competitiveness and create employment at scale.

—IANS

aar/pk