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    India Hosts Kimberley Process Intersessional Meeting 2026 in Mumbai
    Jaipur gold traders fear demand slump after PM Narendra Modi’s call to avoid buying gold
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May 12, 2026
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Kimberley Process certification and compliance drive efforts to strengthen trust in ethically sourced natural diamond trade.
The Kimberley Process Intersessional Meeting 2026 in Mumbai focuses on implementation of the Kimberley Process Certification Scheme, monitoring and compliance mechanisms, artisanal and alluvial diamond production, statistics and measures to strengthen trust in the natural diamond value chain. The Kimberley Process Certification Scheme is an international initiative established pursuant to United Nations General Assembly Resolution 55/56 (2000) to prevent conflict diamonds from entering the legitimate diamond trade, with India's 2026 Chairship centred on credibility, compliance and consumer confidence.
May 12, 2026
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Gold jewellery demand concerns emerge as traders warn of pressure on artisans, exporters and small businesses.
Gold jewellery traders in Jaipur expressed concern that a call to avoid buying gold for a year could reduce demand for ornaments and affect the wider gems and jewellery trade. Industry stakeholders linked any sustained fall in gold demand or availability to pressure on workers, artisans, small traders, exporters and showrooms, noting that Jaipur functions as a major centre for gemstones, gold jewellery manufacturing and exports. Trade representatives urged a distinction between consumption-based and export-linked imports, policy support for recycling and exchange schemes, and greater stability in the import duty and taxation structure.
May 12, 2026
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SEZ warehousing partnership expands port-linked logistics and faster clearance access through a sublease arrangement in Mumbai.
Welspun One entered into a Letter of Intent with Balmer Lawrie & Co. for the sublease of Grade A+ warehousing space at WTC Nhava Sheva in the JNPA special economic zone. The arrangement is intended to give Balmer Lawrie access to SEZ warehousing facilities over a five-year term, with the site positioned for customs duty deferment, faster clearance and value-added logistics services.
May 12, 2026
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Economic growth and state-level convergence shape India's path to prosperity through fiscal discipline, GST reform, and targeted state strategies.
India's economic growth has accelerated steadily over four decades, alongside stronger macroeconomic stability, fiscal consolidation, unification of indirect taxation through GST, and a Flexible Inflation Targeting framework that has anchored inflation expectations and enhanced policy credibility. Across states, per capita income has risen sharply, but growth remains uneven even as divergence has narrowed and welfare indicators have converged more decisively. The speech emphasises that future prosperity will require differentiated state-specific growth strategies and a clearer alignment between national and state policy levers.
May 11, 2026
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Austerity measures urged to cut foreign-currency spending, reduce fuel use, and shift travel, work and schooling domestic
Austerity measures were urged as a public response to global disruption caused by the West Asia crisis, with emphasis on reducing avoidable foreign-currency expenditure and shifting daily activities toward lower-cost, domestic alternatives. Citizens were asked to avoid foreign vacations and destination weddings abroad, defer gold purchases, reduce consumption of edible oils, limit use of imported products, and curtail fuel consumption through public transport, electric mobility and carpooling.
May 11, 2026
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Foreign exchange conservation drives fuel savings, reduced travel and restrained consumption amid West Asia conflict pressures.
Calls for judicious use of fuel and foreign exchange conservation in response to the West Asia conflict emphasise reduced petrol and diesel consumption, greater use of metro rail, carpooling, electric vehicles, railway parcel services and work from home. The appeal also includes postponing gold purchases and foreign travel for one year as measures to ease pressure on the economy and preserve foreign exchange reserves amid disruptions to fuel transport and other global supply effects.
May 11, 2026
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Foreign exchange pressure drives rupee to record low as dollar strength, crude prices and capital outflows intensify.
Foreign exchange market pressure pushed the rupee to a record closing low against the US dollar amid a stronger greenback, rising crude oil prices, and heavy foreign capital outflows. Geopolitical tensions in West Asia, domestic appeals to reduce spending on fuel, gold, and foreign travel, and weakness in domestic equities all added to market volatility and pressure on the local currency.
May 11, 2026
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Fuel supply stability and no rationing planned as India strengthens inventories, sourcing, and demand management.
India is maintaining adequate fuel and LPG inventories despite disruptions in global energy markets, and no rationing of fuel supplies is planned. The government has kept domestic prices stable, secured additional cargoes, increased procurement from existing and alternative suppliers, and used fiscal measures, including excise duty cuts on petrol and diesel, to absorb part of the price shock. Authorities have also managed supply disruptions through diversified sourcing and calibrated demand-management steps.
May 11, 2026
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Fertiliser availability remains comfortable as government bolsters Kharif supply, stabilises prices, and curbs hoarding.
Fertiliser availability for the upcoming Kharif sowing season remains comfortable, with stocks above the usual seasonal benchmark and additional imports and domestic production supplementing supply. Major fertiliser prices have remained stable, urea pricing is fixed, and further quantities of NPK complexes, DAP, triple super phosphate and ammonium sulphate have been secured to support peak-season demand. Measures are also being taken to promote balanced fertiliser use and prevent hoarding, diversion and black-marketing at the state level.
May 11, 2026
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Integrated township development in Amaravati gains momentum with Singapore model cooperation, trade connectivity and MICE infrastructure planning.
Integrated township development in Amaravati is being advanced as a Singapore-modelled urban project, intended to serve as a benchmark development and to support the Amaravati Economic Region. The state has invited requests for proposals and is pursuing monthly working-group consultations to implement the existing memorandum of understanding covering township development, digital transformation and real-time governance. Cooperation is also being sought on trade connectivity, a pilot digital trade corridor, and a dedicated MICE policy with single-window approvals and new infrastructure.
May 11, 2026
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Portable air conditioner buying guide highlights cooling capacity, energy efficiency, portability, and EMI-based purchase options.
Portable air conditioners are described as an installation-free cooling option for rooms where window or split ACs cannot be fitted, especially for renters and small-apartment users. Buyers are advised to assess cooling capacity, BEE star rating, portability features, noise levels, exhaust hose length, and additional modes such as fan-only and dehumidifier functions. The purchase process includes browsing models, checking eligibility, selecting a partner store, and choosing an EMI plan with repayment tenures from 3 to 60 months and zero down payment on select models.
May 11, 2026
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Crude oil price shock and austerity appeal weigh on investor sentiment amid foreign exchange and inflation concerns.
Stock market weakness was linked to rising crude oil prices, renewed geopolitical tension in West Asia, and concern over inflationary pressure, fuel costs, foreign exchange reserves, and the current account outlook. Investor sentiment was further affected by the Prime Minister's appeal for austerity and conservation of foreign exchange through reduced fuel use, postponement of gold purchases and foreign travel, greater use of public transport, carpooling, electric vehicles, rail services, and work from home.
May 11, 2026
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Chinese EV exports surge as domestic car sales weaken amid global demand and trade pressures.
China's passenger car exports expanded sharply in April as automakers increased overseas shipments while domestic demand weakened. Passenger car exports rose by nearly 85 per cent year on year, with new energy passenger vehicle exports increasing by more than 120 per cent. Domestic passenger car sales fell for the sixth consecutive month, while Chinese brands continued expanding abroad and analysts pointed to stronger global EV demand and trade pressures shaping export prospects.
May 11, 2026
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Rupee weakness deepens amid oil surge, dollar strength and foreign outflows, pressuring market sentiment and reserves.
The rupee fell sharply to a record low against the US dollar amid heightened West Asia tensions, a surge in crude oil prices, a stronger dollar and sustained foreign capital outflows. Market sentiment was also weakened by calls for austerity, including reduced discretionary spending and foreign travel, as part of efforts to conserve foreign exchange. India's foreign exchange reserves also fell in the latest reporting week, adding to pressure on the domestic currency.
May 11, 2026
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Bribery allegations in GST refund processing led to a CBI trap and apprehension of a CGST superintendent.
Allegations of bribery against CGST officers led to a CBI trap operation after a complaint claimed that the Superintendent and Assistant Commissioner, CGST, Balasore, Odisha, demanded illegal gratification for release of a GST refund. The CBI registered the case on the basis of the complaint and laid a trap, during which the Superintendent was apprehended while accepting the bribe amount.
May 11, 2026
Show AI Summary
Industry-backed online degree programs expand AI, product management, and certification-led training for career-ready skills.
Industry-backed online degree programs are being launched to align higher education with a skill-first economy and AI-driven workforce needs. The programs emphasise employability, hands-on exposure, and real-world application, replacing purely theory-led learning with outcome-driven training that supports career growth and professional advancement. The portfolio includes data science, agentic AI, product management, and certification-linked management and technology programs designed to strengthen technology, business, and leadership readiness.
May 11, 2026
Show AI Summary
Savings account interest rate revision boosts returns with monthly credit, digital onboarding, and select zero-balance account options.
AU Small Finance Bank has revised its savings account interest rates to up to 6.75% per annum, applicable to select balance slabs and subject to periodic change. The savings account structure includes monthly interest credit, zero-balance options for select variants, and fully digital account opening through video KYC without a branch visit. The account is integrated with mobile and net banking facilities, fund transfers, UPI, IMPS, NEFT, bill payments, fixed deposit booking, account statements, and security features.
May 11, 2026
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Austerity and self-reliance appeal amid West Asia conflict sparks political clash over responsible leadership.
Political exchange over the Prime Minister's appeal for austerity and economic self-restraint in the context of the West Asia conflict. The appeal urged citizens to conserve energy, reduce fuel consumption, use public transport and carpooling, postpone gold purchases and foreign travel, and prefer indigenous products and Swadeshi goods to conserve foreign exchange and support self-reliance. The response defended these measures as responsible leadership and invoked Nehru's remarks on the impact of wars abroad on India.
May 11, 2026
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Foreign exchange conservation and fuel restraint shape a wider debate on austerity, consumption cuts, and economic stress.
Concerns were raised over the economic impact of the West Asia conflict and the possibility of tighter austerity measures, including higher fuel prices, as the government urged citizens to reduce consumption of petroleum products and other imports. The stated objective of these appeals was to conserve foreign exchange and reduce pressure on the economy amid rising supply-chain stress and increased prices of petrol and fertilisers. The measures advocated included greater use of metro rail, carpooling, electric vehicles, railway parcel movement, work-from-home arrangements, postponement of gold purchases and foreign travel, reduced edible oil consumption, lower use of chemical fertilisers, promotion of natural farming, and preference for Swadeshi products.
May 11, 2026
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Foreign-exchange conservation appeal to delay gold purchases and travel weighs on jewellery demand and bullion sentiment.
Postponement of gold purchases and avoidable foreign travel was urged as a foreign-exchange conservation response to the West Asia crisis and higher crude prices. The appeal was linked to macroeconomic stability, trade deficit management, and pressure on the rupee and current account, while analysts said it could dampen short-term jewellery demand and sentiment across bullion-linked businesses.

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Bhagyanagar India Ltd. Targets INR 5,000 Crore Revenue by FY 2029-30 Amid Expansion Plans Spearheaded by Devendra Surana

May 13, 2026

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Strong top-line and bottom-line growth driven by scale expansion, with revenue rising 46% to INR 2,377 crore and PAT increasing 258% to INR 50 crore. Hyderabad, Telangana, India – Business Wire India Hyderabad-based Bhagyanagar India Limited (BSE: 512296, NSE: BHAGYANGR) has reported strong financial growth for FY 2025–26, with revenue increasing 46% year-on-year to INR 2,377 crore and profit after tax rising 258% to INR 50 crore. Backed by rising demand across infrastructure, renewable energy, electric vehicles, and industrial manufacturing, the company has outlined a long-term roadmap targeting INR 5,000 crore in revenue by FY 2029–30. The growth comes amid increasing demand for copper across sectors such as renewable energy, electric mobility, power infrastructure, telecom, and data centres, where copper remains a critical industrial material. The company’s market capitalization has also crossed the INR 1,000 crore mark over the past year, reflecting increased investor interest and business momentum. Financial Highlights — FY 2025–26 (Consolidated) Figures in INR Crore. Source: Regulatory filings with NSE and BSE. Particulars FY 2025–26 FY 2024–25 Growth Revenue (Turnover) INR 2,377.83 Cr INR 1,625.61 Cr 46% Operational EBITDA INR 106.14 Cr INR 37.02 Cr 187% Profit Before Tax (PBT) INR 67.51 Cr INR 18.68 Cr 261% Profit After Tax (PAT) INR 50.17 Cr INR 14.02 Cr 258% Expansion Roadmap Bhagyanagar India and its leadership, headed by Devendra Surana, have outlined a long-term growth roadmap focused on expanding the company’s presence within India’s non-ferrous metals sector, which includes: • Capacity expansion to 45,000 metric tonnes: The company has already achieved 35,000 MT of production capacity as of March 2026, making the next phase of expansion a clear and credible strategic progression. • INR 40 crore capital investment: Committed to manufacturing infrastructure over the next two years, directly backing the capacity ramp-up. • Corporate restructuring via NCLT-admitted demerger scheme: An NCLT-admitted demerger scheme under which Bhagyanagar India’s copper manufacturing business will be carved out into Tieramet Limited — a standalone, independently listed company — creating a cleaner corporate structure and giving shareholders direct equity exposure to one of India’s most strategically positioned copper businesses. • INR 5,000 crore revenue target by FY 2029–30: Anchored by the ongoing capacity ramp-up and the convergence of powerful demand drivers — AI data centre build-outs, utility-scale renewable energy, electric vehicle adoption, and India’s accelerating push toward industrial self-reliance. Competitive Strengths Bhagyanagar India’s growth strategy continues to be supported by: • 40-year unblemished track record: Not a single loss-making quarter in the company’s history or a single day’s delay in any of its obligations stands out as a rare distinction in a cyclical sector, and a testament to the durability and strong corporate governance norms of its business model. • Deep OEM relationships: Long-standing supplier and customer ties with major industrial names, backed by hands-on leadership. • Sustained financial momentum: Seven consecutive quarters of profit growth, with operating leverage now visibly translating into margin expansion across the P&L. • Powerful sectoral tailwinds: India’s energy transition, EV adoption, AI infrastructure build-out, and the country’s broader manufacturing-led growth story — all of which run on copper. Commenting on the company’s performance and long-term vision, Shri Devendra Surana, Managing Director, Bhagyanagar India Limited, said: “The future runs on copper, and Bhagyanagar India has been contributing to that future for over four decades. As India continues to witness growth across infrastructure, renewable energy, electric mobility, and industrial manufacturing, we remain focused on expanding our capabilities, strengthening operational efficiencies, and building a sustainable growth platform within India’s non-ferrous metals sector.” He added: “With our NCLT-admitted demerger scheme progressing on schedule, our capacity expansion to 45,000 MT well underway, and an INR 40 crore capex commitment firmly in place, we are on a clear and well-funded path toward our INR 5,000 crore revenue target by FY 2029–30.” About Bhagyanagar India Limited Founded in 1985, Bhagyanagar India Limited is a Hyderabad-based copper manufacturer that run two ISO-certified plants on a 60-acre site, serves 500+ clients pan-India, and lead the Indian copper industry in value-added product breadth — a 35,000 MT integrated business with VAP at the core of its margin story. Through its wholly owned subsidiary, Bhagyanagar Copper Private Limited, the company manufactures copper bus bars, rods, strips, foils, sheets, pipes, solar fins, etc. that flow directly into transformers, switchgear, auto electrical components, solar water heaters, and telecom infrastructure. Company Website - https://bhagyanagarindia.com/ About Devendra Surana Shri Devendra Surana, Managing Director of Bhagyanagar India Limited is arguably one of the most well-networked and articulate industrialists in South India. A Mechanical Engineer from Osmania University and a Post Graduate Diploma in Management holder from IIM Bangalore — where he was recognised as the "Brain of the Batch" — Devendra Surana brings both technical depth and strategic clarity to a business that has thrived for over four decades. His industry standing is exceptional. He is the current President of the South India Chapter of Bombay Metal Exchange, a leading national industry body, and has previously served as Chairman of the Telangana State Council of FICCI, President of the Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI), and Founder President of the Young Entrepreneurs Organisation, Hyderabad. In 2018–19, the Hyderabad Management Association honoured him with the HMA Entrepreneur of the Year Award, presented by the former Vice President of India, Shri M. Venkaiah Naidu. To View the Image, Click on the Link Below: Shri Devendra Surana (Disclaimer: The above press release comes to you under an arrangement with Business Wire India and PTI takes no editorial responsibility for the same.). PTI PWR

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