Technology

New Delhi, Oct 5 (IANS) As India's capital market industry has become deeper, broader and more accessible over the past decade, Securities and Exchange Board of India (SEBI) Chairman Tuhin Kanta Pandey on Monday warned investors and traders to avoid anonymous tips by finfluencers and unrealistic return claims.

Addressing an event marking the launch of SEBI's Project Jagruk at Panjab University, Pandey said more households are now investing in capital markets and have access to products that barely existed a decade ago.

"Households are also directing larger amounts of savings into securities market instruments," he said, adding that systematic investment plans (SIPs) have emerged as one of the simplest investment avenues for retail investors.

Highlighting the expansion of the market ecosystem, Pandey said SEBI rationalised mutual fund scheme categories, capped costs and introduced smaller-ticket SIPs to widen participation.

He said India's market capitalisation has quadrupled to around ₹472 lakh crore over the last decade, while foreign portfolio investor (FPI) assets have increased from ₹22 lakh crore to ₹78 lakh crore.

According to Pandey, SEBI introduced a simplified FPI framework that streamlined digital onboarding and helped improve ease of doing business for overseas investors.

The regulator has also broadened the range of market participants and products by bringing in investment advisers, ESG rating providers and new financing channels for startups and infrastructure projects, he said.

Pandey said India's capital market framework has evolved from primarily supporting domestic investment to positioning the country as a potential base for global fund management activity.

He added that access to capital markets has widened through SME IPO platforms, while the IPO listing timeline has been reduced from T+6 to T+3 working days.

On market infrastructure reforms, Pandey said India was the first market to test T+1 settlement and among the first to allow interoperability between clearing corporations.

In the debt market, he said online bond platforms have been introduced to expand access to corporate bonds, while green, sustainable and municipal bonds have created additional avenues for raising capital.

Pandey said products such as Real Estate Investment Trusts (REITs), Infrastructure Investment Trusts (InvITs) and commodity derivatives have helped investors, businesses and producers manage risks and monetise assets more efficiently.

He also noted that SEBI has strengthened cybersecurity reporting requirements as market participation and digitisation have grown.

"Over the last decade, India's capital markets have become deeper, broader and more accessible," according to him.

"The framework has evolved to make these products accessible to a wider segment of investors," he adds.

--IANS

ag/

New Delhi, Oct 5 (IANS) India’s cold‑storage capacity has reached 40.22 million tonnes, equivalent to 84 per cent of the 48 million tonne requirement estimated for 2037‑38, a report said on Monday.

The report from FICCI and Grant Thornton Bharat said two decades of investment have created a substantial storage base and it identified first‑mile handling and refrigerated movement as priorities.

It noted that pack‑houses account for about 0.4 per cent of the long‑term target, reefer vehicles 3.8 per cent and ripening chambers 7.1 per cent. This infrastructure is essential for removing field heat, grading and packing produce close to farms, and maintaining temperature during transportation, the report noted.

Building the pack-houses, reefer vehicles and ripening chambers envisaged under the India Cooling Action Plan could require approximately Rs 1.75 lakh crore through 2037-38, equivalent to around Rs 8,800 crore annually.

India currently has 40.22 million tonnes of cold-storage capacity across 8,815 facilities. However, approximately three-quarters of this capacity is used for potatoes, while more than half is concentrated in Uttar Pradesh and West Bengal. The report highlighted opportunities to develop multi-commodity and multi-temperature facilities closer to major horticultural production centres and connect them through reliable transport networks.

Rizwan Soomar Chairman, FICCI Committee on Logistics CEO & Managing Director – Subcontinent, Central Asia, Levant and Egypt, DP World, said that a robust cold chain encompasses the entire movement of temperature-sensitive products from the farm and first mile through storage, transportation, distribution, and the final point of consumption.

The report showed that three-quarters of cold storage holds one crop, potato, while India loses 13.9 to 43.4 million tonnes of fruit and vegetables a year, mostly before the first cold point and in transit.

India loses an estimated 17 million to 47 million tonnes of food each year across horticulture, dairy, meat, poultry and fish. Post-harvest losses across 54 crops are valued at approximately Rs 1.5 lakh crore annually.

—IANS

aar/pk

New Delhi, Oct 1 (IANS) Passenger vehicle wholesale volumes grew 29 per cent in the first five months of fiscal 2027 (April-August) but are expected to moderate to 4 to 6 per cent for the full fiscal year on a high base, a report said on Thursday.

Further, recent price hikes announced by the original equipment manufacturers (OEMs), a weaker than expected monsoon could dampen rural sentiments and adversely impact volume growth in H2 FY2027, the report from ICRA said.

The report added that retail sales expanded roughly 27 per cent in 5M FY2027, supported by traction of newly launched models, an extended summer wedding season and the sustained positive impact of the revised Goods and Services Tax (GST) rates.

“Increasing operating leverage, cost control measures and price hikes, is expected to help OEMs maintain healthy margins, which saw around 200 bps compression in Q1 FY2027. The credit profile of OEMs is likely to remain strong, supported by low leverage, robust liquidity and/or strong parentage,” the report noted.

Inventory levels in August rose by five days sequentially to 38–40 days driven by pre-festive stocking, but remain well below the 56-day levels in August 2025.

The utility vehicle (UV) segment continues to expand its share in overall industry sales (68 per cent in 5M FY2027), led by a shift in customer preferences and a slew of new model launches. Demand for the entry-car segment has revived somewhat after the GST rate cuts and volumes have seen an uptick from H2 FY2026.

The penetration of alternative powertrains, such as compressed natural gas (CNG) and EVs, steadily rose to 34 per cent of overall volumes, aided by the introduction of new models and an improving fuelling or charging network.

Capex outlay for original equipment manufacturers (OEMs) is estimated to remain high at Rs 250- 300 billion per annum at about 5-6 per cent of revenues over the next few fiscal years.

The capex would provide for substantial outlay towards new product development, including enhancement of capabilities or platforms for EVs.

—IANS

aar/ag

New Delhi, Sep 30 (IANS) Agriculture Minister Shivraj Singh Chouhan on Wednesday approved procurement worth Rs 5,547.99 crore at Minimum Support Price (MSP) under the Price Support Scheme (PSS) for the Kharif Marketing Season 2026-27 in Uttar Pradesh, Telangana and Karnataka.

The decision, said the minister, is aimed at protecting farmers from a decline in market prices and ensuring remunerative returns for their produce, particularly for pulse and oilseed growers.

In Uttar Pradesh, the largest share of the approved procurement, worth Rs 3,992.57 crore, has been sanctioned. This includes procurement of 4,66,000 metric tonnes of tur valued at Rs 3,937.70 crore and 6,250 metric tonnes of moong valued at Rs 54.87 crore at MSP.

For pulse and oilseed farmers in Karnataka, procurement worth Rs 1,107 crore has been approved under PSS. This includes 1,15,500 metric tonnes of soybean valued at Rs 659.27 crore, 38,250 metric tonnes of moong valued at Rs 335.83 crore and 13,413 metric tonnes of sunflower valued at Rs 111.90 crore.

In Telangana, procurement worth Rs 448.42 crore has been approved. This comprises 62,000 metric tonnes of soybean valued at Rs 353.90 crore and 10,766 metric tonnes of moong valued at Rs 94.52 crore, to be procured at MSP under the Price Support Scheme.

Chouhan said the decision will provide greater economic security to farmers while encouraging domestic production of pulses and oilseeds and contributing to India’s efforts towards self-reliance in pulses and edible oils.

He assured that procurement arrangements at all designated centres will remain transparent and that farmers will receive payment for their produce directly into their bank accounts in a timely manner.

Under the leadership of Prime Minister Narendra Modi, the welfare of farmers, increasing their incomes and strengthening self-reliance in agriculture remain key priorities of the government.

He said the government is working to ensure that farmers receive remunerative prices for their produce, and that procurement mechanisms are made more transparent and accessible. Under the approved procurement plan, farmers in the three states will benefit from large-scale procurement of key pulses and oilseeds at MSP.

--IANS

na/

Seoul, Sep 29 (IANS) The chief of South Korea's antitrust watchdog said on Tuesday he will work to "restore justice" after a local court recently cleared the way for the agency to resume its stalled probe into U.S.-listed e-commerce giant Coupang.

Ju Biung-ghi, head of the Fair Trade Commission (FTC), made the remarks during an interview with local radio broadcaster CBS, signalling the agency's intention to resume its investigation, reports Yonhap news agency.

Last month, Coupang refused to cooperate with the watchdog's on-site probe into allegations the company had shifted the costs of discounts onto its suppliers and asked a court to suspend the inspection.

The court initially granted a temporary suspension of the FTC's on-site inspection but eventually rejected Coupang's request to halt the probe last week.

"(Coupang) deals with various vendors, and the company could be subject to regulatory action if it has imposed unfavourable terms on them," Ju said.

"It is a relief the judge handling the case ruled in favour of the public interest, including the rights of the economically vulnerable and hundreds of thousands of small merchants," he added. "We will continue to make efforts to restore justice undermined by the stalled probe into Coupang."

At a press conference this month, Ju described the court's disruption of the FTC's investigation as "regrettable."

Meanwhile, Coupang swung to a net loss in the second quarter from a year earlier due to fines related to a massive data breach.

In the three months that ended in June, the U.S.-listed company shifted to a net loss of 865 billion won (US$570 million) from a net profit of 43.5 billion won in the same period last year, it said in a press release.

Coupang, which generates most of its revenue from its Korean operations, has faced strong public backlash following the disclosure of a data breach in November 2025 involving more than 37 million customers.

—IANS

na/

Seoul, Sep 29 (IANS) South Korea's overseas direct investment rose 32.3 per cent in the second quarter of 2026 from a year earlier, data showed on Tuesday, led by the financial and communication sectors.

Overseas direct investment by South Korea totalled US$20.52 billion in the April-June period, up from $15.5 billion from the same three month period in 2025, according to the Ministry of Finance and Economy.

The figure has posted on-year growth since the third quarter of 2025, reports Yonhap news agency.

By sector, overseas investment in the financial and insurance industry jumped 33.4 percent to $10.48 billion.

The finance ministry attributed the increase to South Korean businesses' efforts to diversify their global portfolios.

Overseas direct investment in manufacturing rose 3.2 percent on-year to $3.57 billion.

Investment in the information and communication sector more than tripled to $2.73 billion, the data showed.

By destination, investment in the United States rose 53.6 percent to $8.86 billion, followed by Japan at $2.46 billion, sharply up from $300 million a year earlier.

Investment in Luxembourg rose 14.2 percent to $1.59 billion, the latest findings showed.

Meanwhile, South Korea's business sentiment contracted in September from a nearly four-year high in August, largely due to increased costs, a central bank survey showed on Tuesday.

The Composite Business Sentiment Index (CBSI) for all industries stood at 99.1 in September, down 0.5 point from the previous month, according to data from the Bank of Korea (BOK).

The reading rose to the highest level in August since September 2022, after the COVID-19 pandemic, with the index reaching 102.

The index measures corporate outlooks on overall business conditions, with a reading below 100 indicating that pessimists outnumber optimists.

The BOK said sentiment in the non-manufacturing sector, including transportation and leisure, improved, while the manufacturing sector suffered a decline in the business sentiment.

The CBSI among manufacturers stood at 99.5 this month, down from 103.8 the previous month, while the index for non-manufacturing companies increased to 98.9 from 96.7 over the cited period.

—IANS

na/

Mumbai, Sep 28 (IANS) Health and hygiene products maker Eureka Forbes Limited on Monday said it has received a show-cause notice from the Uttar Pradesh GST department proposing a tax demand of Rs 273.40 crore for the financial year 2022-23.

The notice, issued by the Deputy Commissioner, State Tax, Sector-1, Lucknow, under Section 73(1) of the Uttar Pradesh Goods and Services Tax Act, 2017, alleges a GST liability of Rs 149.21 crore.

The proposed demand also includes interest of Rs 109.27 crore and a penalty of Rs 14.92 crore, taking the total amount to Rs 273.40 crore.

In a regulatory filing, Eureka Forbes said the demand appears to have been calculated using, among other factors, pan-India financial data from its audited FY23 financial statements without establishing the corresponding transaction-level tax liability attributable to its Uttar Pradesh GST registration.

The company maintained that the show-cause notice lacks merit and is not sustainable on factual, legal or procedural grounds. It said it intends to contest the notice comprehensively and submit its response within the prescribed timelines.

"The company is of the considered view that the SCN is devoid of merits, not sustainable on facts or in law or in procedure and intends to contest the same comprehensively within the prescribed timelines," it said in its exchange filing.

"The company does not envisage any material impact on the financials, operations or other activities of the company arising from this SCN," it added.

Eureka Forbes further stated that it does not expect any material impact on its financial position, business operations or other activities as a result of the notice.

According to the company, the show-cause notice was received after office hours on September 25. The disclosure was made on September 28, the first working day following its receipt.

Shares of Eureka Forbes ended the day at Rs 361.90 on the BSE, down Rs 8.65, or 2.33 per cent, from the previous close.

--IANS

pk

New Delhi, Sep 27 (IANS) In a major boost to India's quantum technology ambitions, the Defence Research and Development Organisation (DRDO) has entered into its first high-value deep-tech project agreement under the Technology Development Fund (TDF) scheme with Zero mK India Private Limited, a startup based in Alwar, Rajasthan.

The agreement was signed in New Delhi between the Director of TDF and representatives of the startup as part of a collaborative effort to develop an indigenous 20 mK-class dilution refrigerator for quantum applications.

The project marks the first high-value agreement under the Rs 500-crore corpus approved by Defence Minister Rajnath Singh to promote deep-tech and cutting-edge technology development in the country.

The initiative is aimed at strengthening India's capabilities in strategic and emerging technology domains through closer collaboration between the defence sector and industry.

Dilution refrigerators are highly specialised cryogenic systems capable of achieving ultra-low temperatures in the millikelvin range. Such extremely cold environments are essential for operating, testing and advancing quantum computing platforms and a range of other quantum technologies.

Officials said the indigenous development of a 20 millikelvin dilution refrigerator is aligned with the objectives of the National Quantum Mission and is expected to significantly enhance India's expertise in quantum technology, advanced cryogenics and other strategic research areas.

The project is also expected to reduce the country's dependence on imported cryogenic infrastructure, a key requirement for building a robust domestic quantum technology ecosystem.

By developing the technology within India, the initiative seeks to strengthen self-reliance in a critical area that has significant applications in both scientific research and advanced defence technologies.

Defence Minister Rajnath Singh congratulated DRDO, industry partners and other stakeholders associated with the project. He expressed confidence that the partnership would serve as a model for future collaborations between DRDO and private industry in emerging technology sectors.

Defence Secretary, Secretary of the Department of Defence R&D and DRDO Chairman Rajesh Kumar Singh also congratulated the teams involved in the initiative and wished them success in achieving the project's objectives.

Senior officials, including the Director General of Micro Electronic Devices & Computational Systems and Cyber Security (DG MCC), the Director General of Technology Management (DG TM), the Director of the Solid State Physics Laboratory (SSPL) and other stakeholders, were present during the signing ceremony.

--IANS

pk

Washington, Sep 24 (IANS) President Donald Trump put artificial intelligence and “superintelligence” on the agenda for his talks with Chinese President Xi Jinping on Thursday, while Xi called for AI to remain under human control and serve the public good.

The two leaders raised the technology in speeches at the White House, where Trump welcomed Xi for a state visit. Neither announced an AI agreement or set out a joint plan in the remarks.

Trump said the visit would include discussions of security, technology and superintelligence. Decisions made in those areas now could promote peace and prosperity for decades, he said, adding that he believed the two countries could achieve more by focusing on common interests.

Xi identified AI as a field in which both governments had responsibilities. China and the United States were leading nations in the technology, he said, and each had a role in how it was developed and managed.

“We have both the capability and responsibility to develop and manage AI for good, and ensure that the development of AI is always under human control and serves the well-being of the people,” Xi said, according to the supplied transcript.

Xi did not specify what rules or safeguards he wanted the two countries to adopt. His remarks placed AI alongside trade, law enforcement and travel as possible areas of cooperation, even as he acknowledged differences between the two governments.

“The interests of China and the United States are deeply intertwined, and there is plenty of room for us to work together,” he said.

Xi called for continued dialogue among officials handling foreign affairs, economic matters and finance, as well as law enforcement and people-to-people exchanges. He said candid talks could help the governments understand each other, seek common ground and build trust.

He also urged the two countries to keep competition within bounds. Their militaries should remain in regular contact and improve crisis communication, he said. The remarks put the technology discussion in a broader context: both presidents spoke about how the two powers could manage rivalry while continuing to work together.

Trump pointed to the leaders’ personal relationship. A White House post quoted him as saying they had forged “a friendship, a truly great friendship actually, built on the mutual respect and the vital interests of our people.”

On trade, Trump said officials had been working towards a more balanced relationship since his visit to Beijing in May, including greater market access for American farmers and ranchers. Xi said China welcomed American companies seeking to invest there and hoped Chinese companies would receive fair treatment in the United States.

The welcoming ceremony offered no indication of whether the presidents had reached common ground on AI. Their comments identified it as a subject for discussion during Xi’s Washington visit; any outcome would depend on the talks that followed.

The United States and China established diplomatic relations in 1979. Their relationship now includes extensive trade and exchanges, alongside differences over economic and security policy.

Trump and Xi met during Trump’s first term, including at Trump’s Mar-a-Lago property in Florida in 2017. Trump later visited Beijing that year. Thursday’s ceremony was their first meeting together at the White House, according to Trump’s welcoming remarks.

--IANS

lkj/dan