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    Startup India Recognises 2.07 Lakh Ventures, Creates 21.9 Lakh Jobs; Govt Expands Funding Push Through Flagship Schemes
    Work Advances on 12 New Greenfield Industrial Cities: SPVs Formed for All, EPC Contractors Appointed for 9; Environment Clearances Secured for 11
    RBI invites public comments on the Draft Circular on Lead Bank Scheme (LBS)
    RBI Issues Draft Amendment Directions for ‘Conduct of Regulated Entities in Recovery of Loans and Engagement of Recovery Agents’
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    BJP got 82 pc of Rs 3,826 crore disbursed by electoral trusts in 2024-25: ADR
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    Reset Ambitions for Trillion-Dollar Tech Future by 2035, Embrace AI and Clean Energy: Union Minister of Commerce and Industry Shri Piyush Goyal to Ind...
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February 13, 2026
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Startup India expands funding, tax reliefs and compliance relaxations to boost venture financing, ESOP flexibility and GST ease.
Startup India recognises over 2.07 lakh startups and deploys three principal funding mechanisms-Fund of Funds for Startups (FFS) via SIDBI backed AIFs (Rs. 25,547.98 crore invested), Startup India Seed Fund Scheme (SISFS) providing grants/convertible/debt through incubators (Rs. 590.93 crore approved), and a Credit Guarantee Scheme for Startups (CGSS) guaranteeing loans (circa Rs. 808.18 crore). Concurrent regulatory and tax easements include profit linked tax deductions, ESOP TDS deferral, carry forward/set off relaxations, GST procedural reforms (simplified registration, QRMP, provisional refunds, interest/penalty waivers, reduced pre deposits) and Companies Act compliance relaxations (optional cash flow, deposit exemptions, reduced board meeting frequency, ESOP and convertible note flexibilities).
February 13, 2026
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Greenfield industrial cities: SPVs formed for 12 projects, EPCs appointed for nine, environment clearances for eleven.
All twelve greenfield industrial city projects have incorporated Special Purpose Vehicles; equity released to nine SPVs; Programme Managers for New Cities appointed for nine projects; EPC contractors appointed for nine projects with one additional contractor finalised; eight EPC contracts had been awarded for internal trunk infrastructure as of January 2026 with one further award thereafter; environment clearances secured for eleven projects and foundation stones laid at two projects.
February 13, 2026
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Lead Bank Scheme draft revises governance, roles, and committee structures; public comments invited by March 6, 2026.
Draft circular revising the Lead Bank Scheme aims to refine Scheme objectives, clarify governance by specifying structure, membership and agenda of fora, and delineate roles and responsibilities of key functionaries. It also proposes measures to strengthen the State Level Bankers' Committee and Lead District Manager offices. Public comments are invited by email using a prescribed subject line within the stated deadline.
February 13, 2026
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RBI draft directions on loan recovery require fair treatment, due diligence, training, and codes for recovery agents.
The Reserve Bank of India has issued draft Amendment Directions extending responsible business conduct requirements on loan recovery and engagement of recovery agents to all regulated entities, specifying safeguards on fair treatment of borrowers, conduct of lender employees and agents, due diligence, training, and a code of conduct for recovery agents, and inviting public comments through prescribed channels.
February 13, 2026
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India's forex reserves fell $6.7bn to $717.06bn; foreign currency assets rose while gold and SDRs declined.
India's foreign exchange reserves fell USD 6.711 billion to USD 717.064 billion for the week ended February 6. Foreign currency assets increased by USD 7.661 billion to USD 570.053 billion, gold reserves dropped by USD 14.208 billion to USD 123.476 billion, SDRs declined by USD 132 million to USD 18.821 billion, and the reserve position with the IMF fell by USD 32 million to USD 4.715 billion.
February 13, 2026
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Gold and silver ETFs see increased investor flows as platforms use open ONDC infrastructure to offer SEBI-regulated products.
Record transaction volumes in gold and silver ETFs reflect investor shifts from physical holdings to SEBI-regulated products; Stable Money's early integration with the Open Network for Digital Commerce enables distribution of regulated mutual funds and ETFs via an open, interoperable infrastructure, increasing reach without closed ecosystems and concentrating mutual fund transactions on the network.
February 13, 2026
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Electoral trusts disbursed Rs 3,826 crore in FY25, with one party receiving 82.5%-report calls for greater transparency.
Electoral trusts received Rs 3,826.34 crore in FY2024-25 and disbursed Rs 3,826.35 crore, with one party receiving 82.52% of distributed funds; ten of twenty trusts reported receipts, five trusts' reports were unavailable, and instances of nil reporting and accounting anomalies were noted. The report identified concentration among top donors and sectors, significant undisclosed donor addresses, and called for enhanced transparency and enforcement under the Electoral Trusts Scheme, 2013.
February 13, 2026
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Wheat and sugar exports authorised with pro-rata quotas for mills and a 70% export fulfilment condition by June 30, 2026.
The government authorised export of 25 lakh tonnes of wheat and an additional 5 lakh tonnes each of wheat products and sugar to manage domestic supply and prices, relying on current private-stock estimates and projected central-pool availability. Additional sugar exports will be allocated on a pro-rata basis to willing mills that declare willingness within 15 days and must export at least 70% of their allocation by June 30, 2026; allocated quotas are non-transferable.
February 13, 2026
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National Productivity Week highlights MSME cluster productivity, Industry 4.0 readiness assessment, and proposed productivity rating systems.
NPC advanced cluster-based strategies to boost MSME competitiveness and global integration, advocating shared infrastructure and knowledge exchange. It proposed an Industry 4.0 Readiness Assessment Framework, an Indian Productivity Rating System, a 5S Assessment Framework for export readiness, sector-specific benchmarks, and a Learning & Development Centre to embed productivity tools. Energy efficiency, sustainable production, youth engagement, and international collaboration were presented as complementary measures to translate productivity gains into cost efficiency and competitiveness.
February 13, 2026
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Technology sector urged to pursue trillion-dollar ambition by 2035 with tax incentives, clean energy and AI focus.
The minister urged the technology sector to pursue a trillion-dollar ambition by 2035 through applied AI, a 10 GW data centre capacity target by 2030, and strengthened clean energy integration, backed by income tax benefits for qualifying investments through 2047 to boost FDI, jobs and the data centre ecosystem, while emphasizing cybersecurity, data integrity, AI education, industry-led engagement with government facilitation, and coordinated action with states to streamline approvals and electricity access.
February 13, 2026
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Customs reforms introduce trust-based governance and an integrated digital ecosystem to simplify clearances and aid trade.
Reforms introduced in the Union Budget 2026-27 emphasise trust-based governance, simplification of customs procedures, and implementation through staff sensitisation across Mumbai Customs operations; a single integrated digital ecosystem connecting export-import stakeholders and participating agencies is being pursued to accelerate clearances, strengthen business planning, and improve ease of doing business, with FAQs released for public facilitation and ongoing stakeholder consultations to address industry queries.
February 13, 2026
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Low voltage motor business acquisition approved; Innomotics to acquire Siemens' unit in India through a slump sale.
The Competition Commission of India approved a proposed combination for the slump sale of the low voltage motor business of Siemens Limited to Innomotics India Private Limited. The Target Business sells low voltage motors for industrial applications in India and exports under an outsourced manufacturing model. Innomotics, part of KPS Capital Partners, is an industrial motors manufacturer supplying high and medium voltage motors and large drive systems to sectors including oil and gas, metals, cement, power and marine. A detailed order will follow.
February 13, 2026
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Acquisition of ~6.63% stake in Valuedrive by Fidelity Funds via CCPS subscription and secondary purchase.
The proposed transaction involves acquisition of approximately 6.63% minority shareholding in Valuedrive Technologies Private Limited by Fidelity group investment funds through a mix of primary subscription and secondary acquisition of compulsory convertible preference shares, with Fidelity Funds acting as diversified investment vehicles. Valuedrive is an operating-cum-holding company in the Spinny Group operating an electronic wholesale motor-vehicle platform and owning subsidiaries in lending, insurance broking, automotive publishing/events, and ancillary services.
February 13, 2026
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Amundi ICG proposed combination approved: Acquirer to buy 4.64% voting shares, nominate a director and subscribe to non voting instruments.
CCI approved Amundi's acquisition of 4.64% voting share capital of ICG via on-market purchases, a right to nominate a director, and subsequent subscription to non voting instruments up to 5.26% of ICG's capital. The Acquirer lacks direct Indian operations but is indirectly present through a minority joint venture that offers asset management services in India. The Target operates globally as an alternative asset manager across structured capital, private equity, real assets, private debt, and credit markets.
February 12, 2026
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Aadhaar card tracing: High Court directs Centre and state to create an SOP for faster police access.
The High Court directed central and state governments to formulate an SOP for police access to Aadhaar card details to enable faster tracing of victims, stressing expedited procedures for missing children and suspected human trafficking; it ordered the Unique Identification Authority director be made a party, received a report from the state legal services authority on action taken after an alleged assault, and scheduled further hearing.
February 12, 2026
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KELTRON secures Rs18 crore export deal to supply Passive Sonar systems; KS Smart to buy 40% stake in Kokonix.
KELTRON signed an Rs 18 crore export agreement, via Neo Power, to supply Passive Sonar systems to navies in the South Asia-North Africa region-its largest single export order following a successful 2025 shipment of 300 sonar elements that met delivery and quality standards. Concurrently, Kokonix will transfer a 40 percent stake to KS Smart to revive laptop manufacturing and bolster its smart-device production capacity.
February 12, 2026
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India-US trade framework remains the basis for an interim agreement; fact sheet amended to reflect shared understandings.
The India-US joint statement is the binding framework for an interim trade agreement; amendments to the White House fact sheet were made to reflect shared understandings, removing references to pulses and digital services taxes and reframing commitments as intentions to reduce tariffs on specified US industrial and agricultural goods and to increase purchases of US energy and technology products.
February 12, 2026
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New CPI series shows January inflation at 2.75%, revises basket and weights, impacting monetary policy signals.
The new CPI series rebased to 2024 (HCES 2023-24) expands the basket to 358 items, reweights components-notably lowering Food & Beverages to 36.75% and enlarging Housing to 17.67%-widens price collection across rural, urban and online markets, and reclassifies groups into a 12-category COICOP-aligned framework. Index values begin January 2025 with year on year comparability from January 2026 and a linking factor enables back-calculation; methodological changes aim to align inflation signals with current expenditure patterns and refine the basis for monetary and fiscal policy calibration.
February 12, 2026
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Money laundering probe alleges director diverted company funds through front entities, benami deals and forged documents causing large losses.
The director allegedly exceeded limited authority to generate and conceal proceeds of crime by diverting company funds through front entities, reselling land to the company at inflated prices, transferring land and TDRs at undervalued rates, executing benami transactions, fabricating MoUs to create bogus possession claims, and facilitating fraudulent allotment of flats, causing over Rs 85 crore wrongful loss; the money laundering probe proceeds under PMLA with the accused produced and arrested during production proceedings.
February 12, 2026
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New CPI series updates base year to 2024, widens basket and recalibrates weights to better measure inflation.
India introduced a new Consumer Price Index series with base year 2024=100, expanding coverage to 358 items and 12 classification groups, recalibrating weights using the Household Consumption Expenditure Survey 2023 24, reducing the food and beverages weight to 36.75%, and updating price collection across extensive rural, urban and online markets to provide more contemporaneous inflation signals for policy calibration.

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40 world chefs' broke bread and boundaries at the IIHM International Young Chef Olympiad

February 11, 2026

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IIHM's Kotamsetti Teja took India to the finals of the global event; Albania, England, and Sri Lanka won the top three positions in the largest culinary event of young chefs in the world KOLKATA, India, Feb. 10, 2026 /PRNewswire/ -- After a week of brandishing knives, delivering cuts, and marinating rivalries with sizzle and bake, student chefs, enroute to becoming Michelin stars, all won the world's biggest culinary competition for student chefs—the IIHM International Young Chef Olympiad 2026. Across 40 countries from almost every continent in the world, they displayed the transformative power of food as a glue that binds humanity. They broke bread. But they broke something bigger. Boundaries. Yes, there were gold, silver, and bronze winners, who have gone back to their countries, welcomed, embraced, and saluted by governments and institutions. There were 26 kilo trophies carried back with no weight on their shoulders, only a lightness of achievement. Yes, there were some medals. But many more memories. For the 12th successive year, this Young Chef Olympiad, a brainchild of the visionary Chairman of IIHM, Dr. Suborno Bose, has pulled off the impossible—getting the world to cook collaboratively, display talent of a proportion that secures the future of culinary arts, and build a declared commitment of sharing and collaboration of knowledge from culinary colleges the world over, to preserve global culinary heritage, embracing AI as a tool for learning and time-saving, and fortifying human connections with that time. The top three who stood as winners on the podium were excellent representatives of the spirit of the Young Chef Olympiad. The others who didn't get crowned may have missed out narrowly on marks, but stood tall as some of the world's best. Like Kotamsetti Satya Teja, a student of IIHM Kolkata from coastal Andhra Pradesh, who showcased his craft in his home kitchen on a stage which had the best teams competing and took India to the finals, making him one of the ten best student chefs in the world. Teja was also awarded for his innovative use of AI for recipe analysis in his culinary ensemble, balancing taste and nutrition, and received the Kitchen Cut Award from top-notch Michelin-star chef John Wood. Conceived, hosted, and nurtured by the International Institute of Hotel Management (IIHM), YCO 2026 unfolded again as a global movement in culinary education, cultural diplomacy, and responsible innovation. From the opening ceremony at the sprawling Signature Club Resorts at Brigade Orchards in Bengaluru, the YCO caravan of different teams travelled across Delhi, Pune, Goa, and Hyderabad for the early rounds of the competition before converging in Kolkata for the final rounds of this global event. On the grand finale stage under the clear night sky of Kolkata, Enri Cuedari of Albania, from Instituti Kulinari Neranxi, lifted the Golden Trophy and was crowned with the Golden Toque, becoming World Champion in what is widely recognised as the world's largest and most collaborative competition for student chefs. England, the defending champion from YCO 2025, secured the silver medal through Dominic Thomas Grundy of Westminster Capital City College. Sri Lanka claimed the bronze, represented by Vidanagamage Rumira Reshan Piyasiri of the Colombo Academy of Hospitality Management. The Plate Trophy was won by Maelyss Helene Parrot of France, one of the world's finest culinary nations. The Dr. Suborno Bose Challenge Trophy, a heartwarming competition where two countries are paired and cook a dish together, embodying how food has its own language of unity, was won by Ozodbek Odilov of Uzbekistan and Melquirudi Leki-Bere da Cunha of Timor-Leste. A Festival of Learning, Not Just a Competition Speaking at the conclusion of the Olympiad, Padma Shri Chef Sanjeev Kapoor, Principal Judge of YCO 2026, described the event as a "festival of learning"—a phrase that resonated deeply with the students, mentors, and global jury assembled in Kolkata. That sentiment was echoed and firmly anchored by Dr. Suborno Bose, Founder-Chairman of IIHM and Chief Mentor of the Young Chef Olympiad, who emphasised that learning lay at the heart of every design decision taken for YCO 2026. "From the outset, YCO 2026 was designed not as a competition that teaches, but as an education system that happens to compete. Every kitchen, every city, every interaction was structured as learning," Dr. Bose said. From competitive kitchens to symposium halls, from heritage research to peer collaboration, the Olympiad functioned as a living classroom—where performance and pedagogy coexisted seamlessly. A Student-First Global Platform At a time when large international events often prioritise spectacle, Dr. Bose underscored that YCO 2026 took a fundamentally different approach. "YCO 2026 was unapologetically student-first. Every decision—competition formats, knowledge sharing, AI tools, MOUs, and global exchanges—was taken by asking one question: how does this serve student learning?" he emphasised. This student-first philosophy was evident across the Olympiad's structure. The Top 10 finalists—representing Albania, England, Sri Lanka, India, the Philippines, Malaysia, Nepal, Sweden, Canada, and Switzerland—earned their places through integrity, discipline, and respect for both tradition and innovation. More importantly, every participant, regardless of ranking, returned home with global exposure, lifelong peer networks, and shared learning. Preserving Culinary Heritage in the Age of AI The defining theme of YCO 2026—"Preserving the World's Global Culinary Heritage through AI"—ran through every competition, symposium, and side event. IIHM positioned Artificial Intelligence not as a replacement for craft, but as a guardian of memory—a tool to document, preserve, and respectfully carry culinary traditions forward. For the first time in the Olympiad's history, participating countries were positioned as a living laboratory of global culinary heritage. Through the exchange of AI-enabled Culinary Heritage Dossiers, nations shared their ingredients, techniques, food philosophies, and cultural contexts—transforming fragile, often oral traditions into structured, living knowledge. "Heritage is not nostalgia," Dr. Bose noted during the journey. "It is alive—experienced through people, kitchens, mistakes, learning, and friendships. AI helps us carry it forward responsibly." IIHM also announced the development of country-specific Culinary Heritage GPTs, positioning YCO as the world's first AI-powered, country-by-country culinary knowledge platform built around a live global competition. Global MOUs and Knowledge Without Borders A major milestone during YCO week was the signing of Global MOUs and the Global Culinary Knowledge Declaration with institutions from 34 countries. These agreements embedded student exchange, faculty collaboration, AI-enabled learning, and shared research into IIHM's global academic framework. Under the AI-LEAP (AI Literacy Education Acceleration Program), IIHM committed to inclusive, ethical AI education, reinforcing its philosophy of "High Tech, Higher Touch." "This was never about signatures," Dr. Bose said. "It was about ensuring that students across continents learn together, grow together, and prepare responsibly for the future of hospitality." Learning Beyond the Podium The final days of YCO 2026 saw Chef Sanjeev Kapoor at IIHM's Kolkata Global Campus, where he conducted an inspiring Global Masterclass on Indian millets. The session highlighted nutrition, sustainability, and innovation—bridging ancient Indian wisdom with modern global kitchens. Interacting closely with students, Chef Kapoor remarked that only IIHM could pull off an event like the Young Chef Olympiad, blending competition, education, culture, and technology into one cohesive global platform. Competition with Conscience Professor David Foskett, MBE, Chairman of the Grand Jury and Chairman of the International Hospitality Council, observed that YCO 2026 reaffirmed a vital truth about hospitality education. "The future of our profession must move beyond textbooks and trophies," he said. "Through initiatives like the United World of Young Chefs, the Global Knowledge Sharing Declaration, and the Culinary Heritage Dossiers, YCO transformed competition into collaboration. Students returned home not just with sharper skills, but with friendships, stories, and global perspective." A Finale—and a Beginning The Grand Finale celebrations at Kolkata brought together culture, music, and shared joy, marking the culmination of an extraordinary global journey. Medals were awarded. Champions were crowned. But what endured was far greater: a reaffirmation that education, not just excellence, lies at the heart of global culinary leadership. The Olympiad ended. The journey, unmistakably, had only just begun Photo: https://mma.prnewswire.com/media/2891121/IIHM.jpg' alt='Embedded Media' /> Photo: https://mma.prnewswire.com/media/2891122/IIHM_1.jpg' alt='Embedded Media' /> Logo: https://mma.prnewswire.com/media/2569189/5781596/IIHM_Logo.jpg' alt='Embedded Media' /> CONTACT: Mr Sujay Gupta, Group Director Media & Communications, IIHM Group, +91-9923057937, [email protected] (Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.). PTI

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