Technology

New Delhi, April 4 (IANS) NITI Aayog and the Atal Innovation Mission launched the ATL Sarthi and Mentor India Academy in Telangana to extend structured mentorship and institutional support to 379 Atal Tinkering Labs, an official statement said on Saturday.

The initiative will enable young innovators to translate ideas into solutions that contribute to India’s development journey and position Telangana as a key node in India’s expanding grassroots innovation ecosystem, the statement from NITI Aayog said.

The initiative will cluster ATLs regionally, connect them with leading local institutions to ensure continuous mentorship, teacher training, and pathways for incubation and startup support.

ATL Sarthi and Mentor India represents a focused effort to deepen the impact of ATLs by moving from access to sustained engagement.

Vardhaman College of Engineering has been onboarded as the nodal institution for Telangana, bringing its expertise in technical education, innovation, and entrepreneurship to support ATL schools and strengthen the local innovation ecosystem.

“The initiative strengthens the foundation of innovation in our schools by creating meaningful linkages between young learners and institutions of excellence. It will empower students to think creatively, solve real-world problems, and contribute to nation-building,” said Shiv Pratap Shukla, Governor of Telangana.

Such initiatives are critical in shaping a generation that is confident, capable, and future-ready and AIM is making it happen, Shukla added.

The ATL Sarthi and Mentor India Academy initiative is designed to empower students with hands-on exposure to emerging technologies, structured problem-solving approaches, and opportunities to scale their innovations.

By strengthening teacher capacity and providing institutional support, the program ensures that innovation becomes a continuous and evolving process within schools, the statement added.

The rollout builds on AIM’s broader national mission of establishing one of the world’s largest innovation ecosystems for students, with over 10,000 ATLs operational across the country.

—IANS

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New York, April 1 (IANS) More than half-a-century after mankind’s sojourn to the moon, four astronauts are planned to take off Wednesday on a voyage that will take them around the celestial body in preparation for journeys beyond, deep into space.

“Fifty-three years ago, humanity left the moon and did not return. Now we go back”, declared NASA Associate Administrator Amit Kshatriya, clearing the mission.

NASA’s Artemis II rocket with the Orion spacecraft with four astronauts is set to lift off at 6:24 pm local time Wednesday (3:54 am Thursday in India) from NASA’s Kennedy Space Centre in Florida on a 10-day odyssey that will take them tantalisingly close to the moon, but they will not land there.

Kshatriya said at a news conference that the mission that had been delayed last month due to possible rocket problems was now all set, ready for the flight.

“I have complete confidence in this team and the NASA workforce,” he said.

The last time humans ventured that far into space was in December 1972 when astronauts on the Apollo 17 mission landed on the moon.

Artemis II’s goal is to test the rocket and the space capsule in preparation for a planned moon landing in 2028 by Artemis IV with a crew.

Hence the four astronauts will not set foot on the moon and will only fly around the farside of the moon.

The crew reflects diversity with an African American pilot, Victor Glover, a woman, Mission Specialist Christina Koch, and a Canadian Space Agency Mission Specialist Jeremy Hansen.

NASA’s Reid Wiseman commands the mission.

“It is our strong hope that this mission is the start of an era where everyone, every person on Earth, can look at the moon and think of it as also a destination”, Koch said.

During the 10-day mission, the spacecraft is to fly on a figure-8 pattern, looping around the Earth and the moon, 7,400 kilometres away.

The first orbit around the Earth is to test the Orion space module with the crew onboard, during next orbit the manual controls and the ability of the Orion to dock are up for tests.

Next, it is to head towards the moon, looping around it, before returning home on April 10, going partway around the Earth and splashing down on the Pacific Ocean, near San Diego, California.

US plans to eventually set up a base on the moon as it prepares for missions to Mars with humans.

--IANS

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New Delhi, April 1 (IANS) A regular weekday morning turned into a moment of shock for thousands of employees at Oracle Corporation, as reports of large-scale layoffs surfaced.

According to multiple reports, employees across teams began receiving termination emails as early as 6 AM.

What started as a normal workday quickly turned into confusion and uncertainty, with many workers trying to understand the sudden decision while the news spread rapidly online.

Reports suggest that the company may have laid off between 20,000 and 30,000 employees globally. This would account for nearly 18 per cent of its total workforce of around 162,000 people.

However, Oracle has not officially confirmed the exact number of layoffs or provided detailed information about severance packages and support for affected employees.

The reported job cuts are said to have impacted several departments, including engineering, cloud operations, sales, and cybersecurity.

In India alone, as many as 12,000 employees are believed to have lost their jobs, although there is no official confirmation on this figure either.

As the news unfolded, many employees took to social media to share their experiences. Several posts reflected the emotional and financial stress caused by the sudden layoffs, with many also seeking new job opportunities.

One employee described the experience as completely unexpected, especially after having joined the company just a year ago.

Sharing their story online, the employee wrote that they received a termination email in the morning without any prior indication.

They added that they were given a severance package of around Rs 6 lakh along with one year of insurance coverage.

Another employee spoke about the emotional impact of the decision, saying the sudden loss of routine and stability was difficult to process. Despite the uncertainty, they expressed hope about finding new opportunities in the future.

--IANS

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New Delhi, April 1 (IANS) India’s industrial and warehousing sector recorded absorption of 18.5 million square feet in Q1 2026, marking a robust growth of 15.6 per cent year‑on‑year, a report said on Wednesday.

The report from Savills India said that growth was led by the manufacturing segment, while Pune made a notable leap to become the second-largest contributor to overall absorption.

Manufacturing accounted for 35 per cent of absorption (about 6.5 million square feet), up from 30 per cent in Q1 2025. Third-party logistics (3PL) segment followed with a 23 per cent overall contribution, while the FMCG and FMCD segment contributed 14 per cent.

Grade‑A space gained prominence with its share of absorption rising to 60 per cent from 51 per cent in Q1 2025 reflecting occupiers' growing emphasis on quality, compliance, and ESG standards, the report noted.

Tier‑I cities accounted for 79 per cent of absorption. Tier-II and Tier-III cities also maintained a meaningful presence, contributing 21 per cent of overall absorption and 16 per cent of overall supply during the quarter.

Pune contributed to 4.5 million square feet or 24 per cent of total absorption. Delhi-NCR and Mumbai followed with 19 per cent and 12 per cent, respectively.

India’s industrial and logistics real estate sector remains strong and resilient, even amid ongoing uncertainty in West Asia.

With occupiers diversifying supply chains and absorption on the rise, total absorption is set to surpass 75 million square feet by 2026, the report forecasted.

On the supply front, the sector delivered 22.1 million square feet in Q1 2026, up 39 per cent YoY, with Tier‑I cities supplying 18.6 million square feet (84 per cent). Tier‑II and Tier‑III cities added 3.4 million square feet or 16 per cent of total supply.

Delhi-NCR accounted for the highest contribution of 20 per cent in Q1 2026, followed by Pune at 18 per cent and Chennai at 17 per cent, while the Tier-II & III cities together accounted for 16 per cent of the total supply.

--IANS

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New Delhi, April 1 (IANS) The Central Board of Direct Taxes (CBDT) has amended income tax rules to provide clarity on the applicability of General Anti-Avoidance Rules (GAAR), in a move aimed at reducing ambiguity around tax avoidance provisions.

In its notification, the CBDT said that GAAR will not apply to income arising from the transfer of investments made before April 1, 2017. The amendment will come into effect from April 1, 2026.

The clarification is expected to provide certainty to investors, particularly in relation to legacy investments, by clearly defining the scope of GAAR provisions.

The development follows a recent ruling by the Supreme Court against Mauritius-based Tiger Global International, where the apex court upheld the Income Tax Department’s right to tax the private equity major on gains from its exit from Flipkart in 2018.

The amendment is seen as part of the government’s broader effort to balance anti-avoidance measures with the need for a stable and predictable tax regime.

Apart from this, the new income tax law has come into effect from the new fiscal, replacing the six-decade-old 1961 legislation and introducing changes in compliance, terminology and taxation.

A key reform under the new framework is the replacement of the ‘Financial Year’ (FY) and ‘Assessment Year’ (AY) with a single ‘tax year’, which is expected to simplify the filing process and improve clarity for taxpayers.

In addition, timelines for filing income tax returns have been revised. While the July 31 deadline remains unchanged for salaried individuals, non-audit cases such as self-employed taxpayers and professionals will now have time until August 31 to file their returns.

Meanwhile, charges on trading in futures and options have increased, as the Securities Transaction Tax (STT) was raised in the Union Budget by Finance Minister Nirmala Sitharaman.

In a major shift, stock buybacks will now be taxed as capital gains instead of deemed dividends, impacting both promoters and retail investors.

--IANS

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Mumbai, April 1 (IANS) Domestic stock markets on Wednesday opened sharply higher with a gap-up start, tracking positive global cues from the US and Asian markets amid hopes of de-escalation in the West Asia conflict -- now in the 33rd day of the conflict.

The 50-scrip Nifty opened at 22,899, rising 567 points or 2.54 per cent, while Sensex began the session up 1,814 points, or 2.52 per cent, at 73,762.43.

Sector-wise, all indices traded in green, led by gains in banking, auto and IT stocks. On the broader indices front too, markets showed strong momentum, with midcap and smallcap indices advancing over 2-3 per cent.

US President Donald Trump has indicated that the American military could halt attacks on Iran within the next three weeks. He also said that Tehran may not need to strike a deal as a precondition for the conflict to wind down. On the other side, Iran has issued a warning that prominent American corporations could face retaliation if Iranian figures continue to be killed.

Notably, headline indices had declined more than 10 per cent during March amid heightened geopolitical tensions.

According to analysts, given ongoing global uncertainties and elevated volatility, investors should adopt a cautious and selective approach.

“It may be prudent to accumulate fundamentally strong stocks during market corrections,” analysts said.

They added that fresh long positions should ideally be initiated only after the Nifty decisively breaks above and sustains the 24,000 level, which would signal improved sentiment and a more durable bullish trend.

Auto stocks are expected to remain in focus as companies release their sales numbers.

On the institutional front, foreign institutional investors (FIIs) sold equities worth Rs 11,163 crore on Monday, extending their selling streak through March. In contrast, domestic institutional investors (DIIs) bought equities worth Rs 14,894 crore.

Globally, Wall Street ended on a mixed note, with the S&P 500 closing about 3 per cent lower, while the Nasdaq gaining nearly 4 per cent.

In Asia, Japan’s Nikkei traded over 4 per cent higher, Hong Kong’s Hang Seng rose more than 2 per cent, and South Korea’s KOSPI surged over 6 per cent.

In the commodities segment, crude oil prices edged higher. Brent crude futures rose 1.81 per cent to $105.86 per barrel, while US West Texas Intermediate (WTI) futures were up 1.90 per cent at $103.31.

--IANS

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New Delhi, March 31 (IANS) The city of Mumbai recorded 15,516 property registrations in March, generating over Rs 1,492 crore in stamp duty revenue for the state exchequer, a report said on Tuesday.

The report from Knight Frank cited data from the Maharashtra Department of Registrations and Stamps as saying that the March tally is the highest monthly registration volume for the reported month in the past 14 years, surpassing the previous high observed in March 2025.

Registrations remained broadly stable year‑on‑year, rising marginally from elevated levels of 15,501 a year earlier, while stamp duty collections eased 6 per cent on a year‑on‑year basis, reflecting a shift in transaction mix.

On a sequential basis, activity strengthened notably as the financial year ended.

Registrations rose 19 per cent month-on-month (MoM), while stamp duty collections increased by 32 per cent MoM, indicating sustained end-user demand supported by stable macroeconomic conditions, ongoing infrastructure upgrades, and positive buyer sentiment. Residential properties continued to dominate, accounting for nearly 80 per cent of total registrations.

The market showed a clear tilt toward the mid‑segment, with properties priced between Rs. 1–2 crore rising 6 per cent annually to 38 per cent of transactions. The sub‑Rs.1 crore segment fell to 39 per cent from 46 per cent.

“The growth in transactions reiterates the depth of end-user demand in the city, supported by stable economic conditions and sustained buyer confidence. The momentum is particularly evident in the middle-income segment, where aspiring homeowners are actively upgrading to better quality housing within accessible price bands," said Shishir Baijal, International Partner, Chairman and Managing Director, Knight Frank India.

Higher ticket segments remained largely stable, with the Rs 2–5 crore and above-Rs 5 crore categories holding steady at 17 per cent and 6 per cent, respectively.

The buying pattern suggested that the expansion in transaction values is being driven by upgradation within the mid-income bracket rather than a broad-based shift toward premium housing.

—IANS

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New Delhi, March 31 (IANS) India’s bioeconomy is approaching the $200 billion mark, which is a significant milestone in its evolution with a strong policy push and growing innovation pipeline signalling the next phase of growth, according to a report released on Tuesday.

The report by Endiya Partners said that the nation’s bioeconomy has expanded sharply from around $10 billion in 2014 to over $195 billion in 2026, now contributing nearly 5 per cent to the GDP.

India, long recognised as the 'Pharmacy of the World' for supplying nearly 20 per cent of global generics and over 60 per cent of vaccines, is now transitioning towards an innovation-led biopharma ecosystem focused on novel therapeutics and deep-tech platforms.

The report highlighted that India stands at an inflection point, driven by favourable policy measures, regulatory reforms, and increasing global validation of its clinical-stage assets.

It also highlighted key government initiatives -- including the proposed Rs 10,000 crore Biopharma Shakti scheme and the Rs 1,00,000 crore Research, Development and Innovation (RDI) Fund -- that are expected to accelerate the development of a robust innovation ecosystem.

Recent regulatory reforms, such as the introduction of a 45-day approval timeline and prior intimation pathways, are also likely to reduce administrative bottlenecks and compress drug development cycles by up to four months, it added.

At the same time, structural shifts in the global biopharma industry, including rising R&D costs, estimated at $2.2 billion per asset, and a looming $300 billion patent cliff, are creating opportunities for cost-efficient and high-velocity research ecosystems like India.

The report also noted that Indian biotech startups benefit from a 'Recruitment Alpha', enabling significantly faster patient enrolment and allowing drug candidates to advance to Phase II trials at substantially lower costs compared to global peers.

This advantage enables Indian firms to take multiple parallel bets in drug development, improving overall success probabilities, it added.

However, the report cautioned that challenges remain, including gaps in pilot-scale GMP infrastructure, limited late-stage funding, talent shortages, and the need for stronger translational research capabilities.

Despite these constraints, India’s biopharma ecosystem -- comprising over 2,500 startups, around 100 incubators, and more than 600 research institutes -- is well-positioned to support the next phase of growth.

"With sustained policy support and deeper ecosystem collaboration, India has the potential to emerge as a global hub for cost-efficient, high-quality biopharma innovation," the report said.

--IANS

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New Delhi, March 30 (IANS) Union Minister Ashwini Vaishnaw on Monday suggested setting up a Centre of Excellence at Gati Shakti Vishwavidyalaya (GSV) to focus on high-precision manufacturing technologies needed in aviation, railways and marine sectors.

He said such initiatives can make students more industry-ready and boost employment opportunities.

The proposal came during the signing of a Memorandum of Understanding (MoU) between Gati Shakti Vishwavidyalaya and the Directorate General of Civil Aviation (DGCA).

The agreement aims to strengthen India’s fast-growing maintenance, repair and overhaul (MRO) sector by improving training and building a skilled workforce.

Speaking at the event, Vaishnaw said sectors like aviation and railways require a very high level of technical precision, and industry-oriented courses are essential to prepare students for such roles.

He stressed the need to follow global standards while designing these programmes and said around 1,000 students could benefit from such initiatives every year.

He also assured that funding support would be arranged to turn the plan into reality.

Civil Aviation Minister Kinjarapu Rammohan Naidu highlighted that India’s aviation sector is growing at a strong pace of 10–12 per cent annually and is expected to continue this growth for the next 15 years.

He pointed to the expansion of airports, passenger traffic and aircraft fleet, and said this growth requires a skilled workforce that meets global standards.

He also referred to the development of Jewar Airport as a sign of rapid infrastructure expansion.

Naidu added that GSV reflects the government’s vision of integrating different transport sectors such as railways, aviation and logistics, which have traditionally worked separately.

He said the aviation sector now goes beyond passenger travel and includes areas like MRO, training and domestic manufacturing, contributing to the goal of Atmanirbhar Bharat.

Under the MoU, GSV and DGCA will jointly develop a three-year B.Sc. programme in Aircraft Maintenance Engineering (AME), designed to combine academic learning with industry requirements and regulatory standards.

The course aims to create a skilled workforce ready to meet the needs of the aviation sector.

--IANS

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New Delhi, March 30 (IANS) The Indian rupee on Monday crossed the 95 per dollar mark for the first time, hitting 95.2 against the US dollar, down 0.3 per cent.

It ended at a record closing low of 94.83 per dollar, compared to Friday's close of 94.81.

The currency has depreciated by 4.4 per cent against the US dollar in the March quarter.

The rupee, which had opened on a strong note after the Reserve Bank of India (RBI) reduced the net open position limit that banks can keep overnight to $100 million, erased its gains and fell 160 paise from its opening level.

Moreover, the rupee fell about 1 per cent last week, its fourth consecutive weekly decline of a similar magnitude to hit a record low of 94.84 against the dollar.

After market hours on Friday, the central bank said banks must ensure that by April 10, their net open rupee positions in the onshore deliverable market do not exceed $100 million at the end of each business day.

Estimates suggest that the magnitude of these positions ranges from $25 billion to over $50 billion.

Worries over elevated oil prices have put Indian stocks on course for their worst monthly drop since March 2020 and bonds on track for their weakest fiscal year since 2023.

Escalation in the West Asia conflict has also pushed up global crude oil prices.

Brent crude futures jumped 3 per cent to an intra-day high of $116.70 per barrel, nearing a fresh 52-week high. Meanwhile, US benchmark West Texas Intermediate (WTI) rose over 3 per cent to cross $103 per barrel.

In March, the rupee fell by more than 4 per cent amid the geo-political tensions.

On the domestic equity market front, the Sensex settled at 71,947.55, down 1,635.67 points or 2.2 per cent, while the Nifty closed at 22,331.40, lower by 488.20 points or 2.14 per cent.

Foreign institutional investors sold equities worth Rs 4,367.30 crore on a net basis on Friday, according to exchange data.

--IANS

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