Category: Business

NEW DELHI (2 March 2026) — Sunil Bharti Mittal, the Founder and Chairman of Bharti Enterprises, has become the first Indian to receive the GSMA Lifetime Achievement Award. The global telecommunications industry body conferred this rare distinction on Monday, citing Mittal’s pivotal role in reshaping the international connectivity landscape and his leadership in bridging digital divides across Asia and Africa.

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A Rare Recognition for an Indian Leader

The GSMA Lifetime Achievement Award is considered the highest honour in the global mobile industry. Traditionally reserved for a select group of pioneers, Mittal joins an elite list of previous recipients who have fundamentally altered the way the world communicates.

According to the official statement from Bharti Airtel, the award recognizes Mittal’s contributions across several decades, including:

• Global Expansion: Leading Airtel’s growth into 17 countries across South Asia and Africa, bringing mobile services to some of the world’s most underserved regions.
• Industry Advocacy: His tenure as the Chairman of GSMA (2017–2018), where he championed the cause of mobile as a tool for social and economic development.
• OneWeb and Space Tech: His strategic intervention in OneWeb (now part of Eutelsat Group), which revitalised the Low Earth Orbit (LEO) satellite constellation to provide global high-speed broadband.

Impact on Global Connectivity

The GSMA highlighted Mittal’s ability to foster collaboration between operators, governments, and businesses. His “minutes factory” model—a high-volume, low-cost approach—revolutionised mobile telephony in India, making it affordable for billions and setting a blueprint for other emerging markets.

“Sunil Bharti Mittal’s vision has not only transformed the Indian telecom sector but has served as a global benchmark for scalable, inclusive connectivity,” the GSMA noted during the presentation.

Strategic Context: MWC 2026

The announcement coincided with the opening day of the Mobile World Congress (MWC) 2026 in Barcelona. During the event, Mittal emphasized the industry’s next frontier: the integration of Artificial Intelligence (AI) and 6G technologies to enhance network efficiency and user experience.

Under his leadership, Bharti Airtel has recently reported a significant milestone, surpassing 500 million subscribers globally, further cementing its position as a top-three mobile operator outside of China.

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Sources

• Press Trust of India (PTI): “Sunil Bharti Mittal becomes 1st Indian to receive GSMA Lifetime Achievement Award” (2 March 2026)
• GSMA Official News: “Industry Pioneers: 2026 Lifetime Achievement Award Recipients” (2 March 2026)
• The Economic Times: “Airtel Chairman Sunil Mittal wins top global telecom award” (2 March 2026)
• Bharti Airtel: Press Release – “Honouring a Visionary Leader” (2 March 2026)

SINGAPORE (27 February 2026) — Singapore-listed Thakral Corporation Ltd has announced it will commence the in-house manufacturing of drone components in May 2026. The strategic move aims to capitalise on the rapid expansion of the Indian drone market, which is projected to surge from 500 million US dollars in 2024 to 11 billion US dollars by 2030. In its latest financial report, the Group detailed plans to produce enterprise-grade and specialised drones within India to meet growing industrial and commercial demand.

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Strategic Shift to Full-Stack Manufacturing

The Group’s transition into manufacturing marks an evolution from its established role as a major distributor. Through its subsidiary, Bharat Skytech, Thakral is positioning itself as a primary supplier for the “Make in India” ecosystem.

Key components slated for production in May include:

• Lithium-Polymer (Li-Po) Batteries: High-capacity power units tailored for long-endurance flight.
• Specialised Chargers and Power Management Systems: Advanced electronics to support industrial usage.
• Propulsion and Structural Components: Including drone plastic tanks and remote transmitters.

Expanding Retail and Software Footprint

To complement its manufacturing push, Thakral is launching an aggressive retail expansion. The Group plans to open 20 to 30 DJI retail stores across India and South Asia over the next three years, with flagship locations debuting in major Indian cities in the first half of 2026.

Additionally, Thakral has increased its stake in Bengaluru-based Skylark Drones to 23 percent. This partnership will facilitate the launch of advanced AI-enabled SaaS (Software as a Service) solutions, providing enterprise customers in mining, infrastructure, and agriculture with data-driven aerial intelligence.

Diversified Growth in India

Beyond the drone sector, Thakral’s financial report highlighted several other “New Economy” ventures currently scaling in India:

• Healthcare and Real Estate: A 21-acre mixed-use development in Gurugram, featuring a hospital and wellness facilities, is currently underway.
• Premium Retail: As the official distributor of Nespresso, the Group is set to open its second flagship boutique at Ambience Mall, Gurugram, in March 2026, with further expansions planned for Mumbai and Bengaluru later this year.

“Through these initiatives, the Group will be well positioned to capitalise on opportunities in this underserved market,” Thakral stated, noting that the enterprise drone space remains a key pillar for its medium-term revenue growth.

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Sources

• Thakral Corporation Ltd: FY2025 Financial Results & Press Release (27 February 2026)
• Business Standard: “Singapore’s Thakral to manufacture drone components in India from May” (27 February 2026)
• Devdiscourse: “Thakral Corporation Enters Drone Manufacturing Market” (27 February 2026)
• Fiinews: “Thakral to set up 20-30 drone stores pan-India” (November 2025)

The Evolution of Thakral Corporation This video provides a deep dive into how Thakral Corporation has transformed from a traditional electronics distributor into a diversified investment platform with a significant focus on South Asian technology sectors.

MUMBAI (27 February 2026) — Indian benchmark indices, the Sensex and Nifty, drifted lower during early trade on Friday, tracking a broader weak trend in global markets and renewed outflows of foreign funds. The 30-share BSE Sensex dropped 364.62 points to 81,883.99 in initial transactions, while the broader 50-share NSE Nifty declined 117.15 points to 25,379.40. Market sentiment remained cautious as investors reacted to lacklustre international cues and shifting capital flows.

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Key Drifters and Sectoral Impact

The decline was broad-based, with several heavyweight stocks in the Sensex pack leading the downward movement. Automotive, telecommunications, and banking sectors faced immediate selling pressure.

Major laggards in the early session included:

• Automotive: Maruti and Mahindra & Mahindra saw notable declines.
• Telecommunications: Bharti Airtel traded lower following global sector trends.
• Consumer Goods: Hindustan Unilever faced selling pressure amidst cautious domestic demand outlooks.
• Banking and Finance: Kotak Mahindra Bank was among the primary laggards in the financial segment.
• Construction: UltraTech Cement also recorded losses in the opening hour.

Global Cues and FII Outflows

The domestic market’s weakness is largely attributed to a fragile environment across global peers. US and Asian markets have shown signs of volatility as participants recalibrate expectations regarding inflation and interest rate trajectories.

As noted in reports by The Economic Times and Bloomberg, the Indian markets are currently navigating a phase of “fresh foreign fund outflows.” Foreign Institutional Investors (FIIs) have turned net sellers in recent sessions, exerting downward pressure on local valuations. This trend has been exacerbated by the rupee’s marginal depreciation, which opened at 90.91 against the US dollar earlier today.

Market Outlook for the Session

Analysts suggest that the Nifty may find support around the 25,300 level, while the Sensex will look to defend the 81,500 mark. The afternoon session is expected to remain volatile, with investors closely watching for any recovery in European markets and further data on domestic institutional buying, which often acts as a counter-balance to foreign sell-offs.

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Sources

• Press Trust of India (PTI): “Stock markets decline in early trade tracking weak global peers” (27 February 2026)
• The Economic Times: “Sensex, Nifty drop in early trade; Maruti, Airtel among top losers” (27 February 2026)
• Moneycontrol: “Market Live: Sensex falls over 300 points, Nifty below 25,400” (27 February 2026)
• National Stock Exchange (NSE) / BSE India: Live Market Data (27 February 2026)

MUMBAI (27 February 2026) — The Indian rupee weakened by 4 paise to 90.95 against the US dollar in early trade on Friday, pressured by sustained Foreign Institutional Investor (FII) outflows and a lacklustre opening in the domestic equity markets. Despite the decline, forex traders noted that a softening global dollar index and a slight dip in international crude oil prices provided a floor for the local currency, preventing a more pronounced depreciation.

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Opening Trends and Market Volatility

At the interbank foreign exchange, the rupee commenced the session at 90.91 against the greenback before slipping further to 90.95. This represents a marginal 4-paise drop from its previous close. Market analysts attribute the early-session volatility to a cautious stance adopted by global investors as they monitor shifting interest rate trajectories in major economies.

Key Market Drivers

Several conflicting factors influenced the currency’s movement during the morning session:

• Equity Market Pressure: The domestic equity benchmarks, the Sensex and Nifty, traded in the red during the morning hours, dampening sentiment for the local unit.
• FII Outflows: According to exchange data, foreign investors remained net sellers in the capital markets, further weighing on the rupee’s liquidity.
• Crude Oil Buffer: Brent crude futures, the global oil benchmark, saw a modest decline, hovering around the 81 US dollars per barrel mark. As a major importer of oil, a dip in prices typically eases the pressure on India’s trade deficit.
• Dollar Index: The US dollar index, which measures the greenback’s strength against a basket of six major currencies, remained relatively subdued, providing some support to emerging market currencies.

Broader Economic Context

The rupee’s current level of 90.95 reflects the ongoing adjustment to global macroeconomic shifts seen throughout February 2026. While the Reserve Bank of India (RBI) has historically intervened to curb excessive volatility, traders suggest that the currency is likely to remain in a narrow range of 90.80 to 91.10 in the near term, depending on the pace of capital inflows and global commodity price movements.

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Sources

• Press Trust of India (PTI): “Rupee falls 4 paise to 90.95 against US dollar in early trade” (27 February 2026)
• The Economic Times: “Forex Update: Rupee opens lower as FIIs sell” (27 February 2026)
• Bloomberg: “Indian Rupee slides amid equity market weakness” (27 February 2026)
• NSE/BSE: “Provisional FII/DII Trading Activity” (27 February 2026)

LUCKNOW (26 February 2026) — The Uttar Pradesh government on Thursday formalised a memorandum of understanding (MoU) with German railway infrastructure specialist RAILONE GmbH for an investment of 200 crore rupees. The agreement, aimed at modernising the state’s rail and transit infrastructure, was signed by Deputy Chief Minister Keshav Prasad Maurya during an official visit to the company’s manufacturing facility in Germany. The partnership reflects a broader strategic push by the state administration to integrate global engineering standards into local infrastructure projects.

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Strategic Partnership and Manufacturing Focus

RAILONE GmbH, a global leader in manufactured concrete sleepers and ballastless track systems, will direct the 200 crore rupee investment toward establishing or expanding high-tech infrastructure solutions within Uttar Pradesh. The Deputy Chief Minister’s visit to the German plant allowed for a firsthand assessment of the “RHEDA 2000” ballastless track technology, which is frequently utilised in high-speed rail and heavy-load freight corridors.

Key objectives of the MoU include:

• Infrastructure Modernisation: Introducing advanced German engineering to the state’s expanding metro and regional rapid transit networks.
• Global Technology Transfer: Enhancing the domestic manufacturing capabilities of railway components under the “Make in UP” framework.
• Operational Efficiency: Implementing track systems designed for lower maintenance requirements and increased longevity for heavy-traffic routes.

Alignment with State Development Goals

According to a statement issued by the state government on Thursday evening, the move is a direct extension of Chief Minister Yogi Adityanath’s vision to transform Uttar Pradesh into a global investment destination. The administration has been actively courting international firms to support the state’s massive infrastructure pipeline, which includes multiple new expressway and industrial corridor projects.

As noted in reports by The Times of India and Hindustan Times, the investment is expected to generate significant local employment in the specialised manufacturing sector. The Deputy Chief Minister emphasised that such global partnerships are essential for achieving the state’s target of becoming a one-trillion-dollar economy.

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Sources

• Government of Uttar Pradesh: Official Press Release (26 February 2026)
• Press Trust of India (PTI): “UP govt signs Rs 200 crore investment MoU with German rail infra firm” (26 February 2026)
• The Times of India: “UP Deputy CM signs ₹200 cr MoU with German firm for rail infra” (26 February 2026)
• Rail.One GmbH: Corporate Statement on India Expansion (February 2026)

NEW DELHI (26 February 2026) — Former German Chancellor Angela Merkel on Thursday lauded the late former Prime Minister Manmohan Singh for the economic liberalisation he initiated, asserting that his reforms placed India on a sustained 30-year path of economic expansion. Delivering the inaugural Dr Manmohan Singh Memorial Lecture in the capital, Merkel highlighted India’s “tremendous potential” and noted its resilience as a leading global economy.+1

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A Legacy of Economic Transformation

Merkel’s address focused on the long-term impact of the structural changes introduced during Singh’s tenure as Finance Minister in 1991 and subsequently as Prime Minister. According to report, the former Chancellor credited these policies with fundamentally altering India’s development story, allowing it to transition into a significant global player.

Key observations from Merkel’s lecture included:

• Sustained Momentum: The economic framework established over three decades ago has enabled India to maintain a growth rate exceeding 5 per cent in recent years, despite global headwinds.
• Demographic Advantage: As the world’s most populous nation, India’s human capital remains its most significant asset for future development.
• Global Integration: Merkel noted that the reforms helped integrate India into the global supply chain, a process that continues to yield benefits today.

Strategic Context and Potential

The lecture served as a high-profile tribute to Singh, who passed away in late 2024. Merkel emphasised that India’s current economic standing is a testament to the “visionary” nature of the 1991 reforms. She stated that India continues to possess an immense capacity for further economic development, provided it maintains its commitment to stability and open markets.

As noted in reports by The Economic Times and The Hindu, the event was attended by a host of dignitaries, including senior economists and political leaders. Merkel’s remarks arrive at a time when India is projected to grow between 6.8 and 7.2 per cent in the coming fiscal year, further validating the growth trajectory she described.+1

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Sources

• Press Trust of India (PTI): “Reforms by Manmohan Singh helped take India on 30-year economic growth: Angela Merkel” (26 February 2026)
• The Economic Times: “Angela Merkel delivers inaugural Manmohan Singh Memorial Lecture” (26 February 2026)
• The Hindu: “India’s growth path a result of 1991 reforms, says Merkel” (26 February 2026)

JERUSALEM (26 February 2026) — India and Israel have formally elevated their bilateral relationship to a “Special Strategic Partnership” following high-level talks between Prime Minister Narendra Modi and his Israeli counterpart Benjamin Netanyahu. During his two-day state visit, Prime Minister Modi underscored India’s clear stance on regional stability, asserting that humanity must never become a victim of conflict. The two nations committed to the swift conclusion of a mutually beneficial free trade agreement (FTA) and expanded their cooperation across defence, technology, and energy sectors.

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Expansion of Strategic and Defence Cooperation

The elevation of ties marks a historic shift in the “time-tested” bond between the two nations. A central pillar of this new partnership is the commitment to joint development and production of military hardware. Under a revamped framework for the transfer of technology, India and Israel will move beyond a buyer-seller relationship towards co-innovation in defence systems.

Beyond traditional security, the two leaders announced the India-Israel Critical and Emerging Technologies Partnership. This initiative is designed to drive collaborative research and industrial application in:

• Artificial Intelligence (AI) and Quantum Computing
• Critical Minerals and Semiconductor Supply Chains
• Cybersecurity and Digital Infrastructure

Regional Stability and the Gaza Peace Initiative

In a significant diplomatic statement, Prime Minister Modi expressed New Delhi’s full support for the Gaza Peace Plan. He stated that India’s security interests are intrinsically linked to peace in the Middle East, noting that a “path to peace” has been created through recent diplomatic efforts.+1

The Prime Minister reiterated that India and Israel stand “shoulder-to-shoulder” against terrorism. As noted in his media statement, both nations maintained a united view that there is no place for terrorism in any form and vowed to continue confronting the menace and its supporters unitedly.+1

Trade, Connectivity, and Digital Integration

The two sides inked several agreements to broaden economic ties, with a focus on agriculture, energy, and digital payments. A major highlight was the agreement to enable the use of India’s Unified Payments Interface (UPI) in Israel, facilitating easier cross-border transactions for businesses and tourists.+1

Discussions also progressed on major multilateral frameworks:

• IMEC: The implementation of the India-Middle East-Europe Economic Corridor was a key point of dialogue, aimed at enhancing regional connectivity.
• I2U2: Both leaders discussed further cooperation under the I2U2 group (India, Israel, the UAE, and the USA) to address food security and clean energy challenges.

Prime Minister Modi concluded his remarks by noting that the relationship is founded on a “bedrock of deep trust” and shared democratic values, ensuring the bond remains resilient against the “test of every trial of time.”

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Sources

• Press Trust of India (PTI): “India & Israel elevate ties to special strategic partnership…” (26 February 2026)
• Ministry of External Affairs: “Prime Minister’s visit to Israel: Joint Statement” (26 February 2026)
• The Jerusalem Post: “Netanyahu and Modi announce Special Strategic Partnership” (26 February 2026)
• The Hindu: “Modi backs Gaza peace initiative during Jerusalem visit” (26 February 2026)

NEW DELHI (February 26, 2026) — Union Minister of Commerce and Industry Piyush Goyal held a high-level meeting on Thursday with United States Secretary of Commerce Howard Lutnick and US Ambassador to India Sergio Gor to finalise the first phase of a landmark bilateral trade agreement. The meeting, described by Minister Goyal as “highly productive,” comes as both nations move to operationalise an interim trade framework that is expected to be signed in March and implemented by April 2026.

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Key Developments in the Trade Pact

The discussions focused on translating the recently announced joint framework into a definitive legal agreement. A central component of this “Phase 1” deal is the rebalancing of reciprocal tariffs. Under the negotiated terms, the United States has agreed to reduce the reciprocal tariff on Indian goods from 25 percent to 18 percent.

Strategic highlights of the interim agreement include:

• Tariff Rationalisation: In addition to the reduction to 18 percent, the US has already rescinded a 25 percent punitive levy previously imposed over India’s purchase of Russian crude oil.
• Energy Diversification: As noted in reports by The Hindu and Hindustan Times, the US is actively negotiating with India for the sale of Venezuelan oil to help diversify India’s energy sources away from Russian imports.
• Mission 500: Both nations have reaffirmed their commitment to “Mission 500,” a shared vision to more than double bilateral trade to 500 billion US dollars by 2030.

Market Access and Sectoral Concessions

The proposed deal involves concessions across tens of thousands of product lines. India is seeking duty-free or reduced-tariff access for labour-intensive sectors such as gems and jewellery, textiles, and leather goods. Conversely, the United States is pushing for greater market access in India for technology products, aircraft parts, and agricultural items, including tree nuts and fresh fruits.

“We have a few tweaking points left to address, but the interim deal is done,” Ambassador Sergio Gor stated on the sidelines of the meeting. Minister Goyal emphasised that while the deal opens significant opportunities for Indian exporters, the government has ensured that “sensitive defensive interests,” particularly in the agricultural and dairy sectors, remain fully protected.

Strategic Initiatives: Pax Silica

The meeting also highlighted India’s recent formal entry into the US-led Pax Silica initiative. This strategic alliance aims to build a resilient and secure supply chain for critical minerals, semiconductors, and AI infrastructure among trusted partner nations. Ambassador Gor noted that from the trade deal to defence cooperation, the potential for the two nations to work together is “limitless.”

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Sources

• The Economic Times: “Howard Lutnick meets Piyush Goyal over productive lunch on bilateral cooperation” (February 26, 2026)
• The Hindu: “India-U.S. trade deal: Both countries to begin meet to finalise legal text” (February 20, 2026)
• Press Trust of India (PTI): “Interim trade pact likely to be operationalised in April: Goyal” (February 20, 2026)
• White House Fact Sheet: “The United States and India Announce Historic Trade Deal” (February 9, 2026)

INDIA (February 26, 2026) — Toss the Coin Ltd., a specialised B2B marketing strategy agency, has announced the successful rebranding and repositioning of the Mumbai-headquartered electronics manufacturing firm, Karkhana. The new brand identity marks Karkhana’s transition from a digital aggregator of fragmented supplier networks to a “full-stack” manufacturing partner. This evolution allows the company to own and integrate the entire manufacturing process—including PCB assembly, mechanical fabrication, and box-build—under a single, digitally managed system.

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Addressing the “Missing Middle” in EMS

The repositioning is a strategic response to a persistent structural gap in India’s Electronics Manufacturing Services (EMS) sector. While large-scale players are typically optimised for high-volume production, smaller job shops often lack the engineering depth required by emerging hardware companies.

Karkhana’s new identity focuses on serving this “missing middle”—a growing segment of small-to-mid-scale Original Equipment Manufacturers (OEMs) in sectors such as:

• Electric Vehicles (EV)
• Internet of Things (IoT)
• Industrial Automation
• Medical Technology (Med-Tech)

Strategic Shift to Integrated Execution

Over the past year, Karkhana has pivoted from an asset-light model to a hybrid approach, investing approximately 20–30 crore rupees in brownfield expansions and SMT (Surface Mount Technology) lines. According to the company, this allows for better process control and faster New Product Introduction (NPI) cycles.

“Our mission remains the same: to simplify manufacturing for hardware teams,” stated Sonam Motwani, Founder of Karkhana. “But today, we do so with deeper ownership, stronger systems, and integrated execution.” Reshma Budhia, CEO at Toss the Coin, added that the rebrand was essential to reflect Karkhana’s growth into an “engineering-led, digitally integrated partner.”

Market Context and Growth Projections

The rebranding arrives as India’s EMS sector enters a high-growth phase. The Union Budget 2026–27 recently increased the outlay for the Electronics Components Manufacturing Scheme (ECMS) to 40,000 crore rupees. With India’s EMS output projected to reach 155 billion US dollars by 2030, Karkhana is targeting a 100 percent revenue jump—from 100 crore to 200 crore rupees—within the next twelve months, primarily driven by its new integrated box-build services.

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Sources

• Press Trust of India (PTI): “Toss the Coin Repositions Karkhana’s brand…” (February 26, 2026)
• India CSR: “Toss the Coin Rebrands Karkhana as Full-Stack Partner” (February 26, 2026)
• Manufacturing Today / ET: “Karkhana.io expands into EMS; eyes doubling revenue” (September 13, 2025)
• Business Standard: “Toss The Coin bags Rs 81 lakh marketing services contract” (February 4, 2026)

NEW DELHI (February 26, 2026) — The Committee of Directors of Vedanta Limited has approved a proposal to raise up to 3,000 crore rupees through the issuance of Non-Convertible Debentures (NCDs) on a private placement basis. The move, announced on Wednesday, is part of the mining and metals conglomerate’s broader strategy to refine its capital structure and reduce overall borrowing costs. Following the announcement, the company’s shares rose by over 5 percent on the National Stock Exchange, reflecting positive investor sentiment regarding its deleveraging efforts.

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Terms of the Debt Issuance

The approved plan involves the issuance of up to 300,000 unsecured, rated, and redeemable NCDs. Each instrument carries a face value of 1,00,000 rupees. According to regulatory filings, these debentures are proposed to be listed on the BSE (formerly Bombay Stock Exchange).

Key details of the issuance include:

• Total Value: Up to 3,000 crore rupees.
• Instrument Type: Unsecured, Rated, Listed, and Redeemable Non-Convertible Debentures.
• Placement Method: Private placement to institutional investors.
• Regulatory Compliance: The issuance follows SEBI’s master circulars and listing obligations (LODR) for debt securities.

Credit Rating and Market Outlook

On 25 February 2026, CRISIL Ratings assigned a “CRISIL AA” rating to the proposed NCDs, while placing the rating on “Watch with Developing Implications.” This status reflects the ongoing review of the company’s planned demerger into six sector-specific entities, an exercise management expects to complete by March 2026.

As noted in reports by The Economic Times and NDTV Profit, Vedanta has maintained a strong operational performance, reporting a 60 percent jump in net profit to 7,807 crore rupees for the third quarter of FY26. The company’s net debt stood at approximately 60,624 crore rupees as of 31 December 2025. Analysts at BofA Securities recently upgraded the stock, citing a robust outlook for aluminium and silver prices as well as an attractive dividend yield.

Strategic Debt Management

This fundraising initiative is consistent with Vedanta’s stated goal of reducing its debt burden by 2 billion US dollars by 2027. Over the past year, the company has successfully refinanced 3.1 billion US dollars in bonds, extending its debt maturity profile. The current NCD issuance is intended for “routine refinancing” undertaken in the ordinary course of business to retire higher-cost debt.

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Sources

• The Economic Times: “Vedanta board clears ₹3,000 crore NCD fundraise” (February 26, 2026)
• CRISIL Ratings: “Rating Rationale – Vedanta Limited” (February 25, 2026)
• NDTV Profit: “Vedanta To Raise Rs 3,000 Crore Via Bonds” (February 25, 2026)
• BSE India: Regulatory Filing – VEDL/Sec./SE/25-26/208 (February 25, 2026)