India's electrification programme significantly increased access to power, with one in 13 previously unconnected small villages and one in seven rural households gaining electricity connection, according to a new study.

The strategic collaboration will focus on a joint go-to-market approach that will leverage products of Proximus' International affiliates, including Route Mobile's Communications Platform as a Service (CPaaS) and Telesign's Digital Identity (DI) solutions.

Home decor and lifestyle brand Nestasia has raised USD 8.35 million in a fresh funding round from Susquehanna Asia VC, Stellaris Venture Partners and notable angel investors.

The capital raise will scale the company's efforts in offline store expansion, new category launches, brand building, and hiring, according to a release.

The Indian IT services industry is likely to register a second consecutive year of muted revenue growth, estimated at 4-6% in FY2025, but the operating profit margin is expected to be healthy, according to ICRA.

The persisting challenges and tepid topline growth notwithstanding, ICRA has forecast the industry’s operating profit margin (OPM) at a healthy about 22 per cent in FY2025, with attrition levels having declined considerably and seen stabilising over the near term.

AppsForBharat, the parent company of devotional app Sri Mandir, on Tuesday said it has raised $18 million in a funding round led by Infosys Co-founder Nandan Nilekani-backed venture capital firm Fundamentum.

The round saw participation from Susquehanna Asia VC as well as existing investors Elevation Capital, Peak XV, and Mirae Asset VC, a statement said.

Prime Minister Narendra Modi on Tuesday asked the automotive industry to bring global best practices to India, while also working on green and clean mobility.

In a written address to the annual convention of the Society of Indian Automobile Manufacturers (SIAM), Modi said the automotive industry will drive even higher economic growth and in turn, thrive on demand growth.

JSW Energy on Tuesday said that its arm JSW Neo Energy has bagged a 600 MW wind-solar hybrid power project from Maharashtra State Electricity Distribution Company (MSEDCL).

Subsequent to this, the company’s total locked-in generation capacity has increased to 18.2 GW, which includes a total locked-in hybrid capacity of 3.8 GW (including FDRE), a company statement said.

According to the statement, JSW Neo Energy, a wholly owned subsidiary of JSW Energy (company), has received Letter of Award (LoA) for 600 MW of wind-solar hybrid power project including 400 MW allotted under greenshoe option from MSEDCL against MSEDCL Phase IV.

Hinduja Group firm IIHL, the successful resolution applicant for takeover of debt-ridden Reliance Capital (RCAP), on Monday filed offer documents to raise ₹3,000 crore through non-convertible debentures (NCDs), according to sources.

The proceeds will be used to part fund the acquisition of RCAP, while the other leg of the transaction to complete the process for ₹4,300 crore is parallelly underway which will be subject to receipt of regulatory approvals and completion of formalities by the administrator, sources said.

Shri Ram Janmabhoomi Teerth Kshetra Trust general secretary Champat Rai on Monday said the ongoing construction work connected to the Ram Temple in Ayodhya will generate about ₹400 crore as Goods and Services Tax (GST).

Production of consumer durable products was adversely affected at Samsung's Chennai plant as about 900 factory workers -- close to half of the total workforce -- went on strike, industry sources aware of the development said on Monday.

The source said the workers went on strike at the Samsung factory demanding a wage hike and improvement in working conditions.

"Around 50 % of Samsung factory workers in Chennai went on strike today (Monday). The strike had an impact on the production at the factory," the source, who did not wish to be identified, told PTI.

Tata Electronics has signed a memorandum of understanding (MoU) with Tokyo Electron to buy equipment and services for its under-construction chip units in Gujarat and Assam.

Under the agreement, Tata Electronics and TEL will also focus on training Tata Electronics' workforce on TEL equipment and supporting ongoing improvement and research and development initiatives.

Finance Minister Nirmala Sitharaman on Monday said that GST collection from online gaming has increased 412% in six months from October 1, 2023, when 28% tax was levied on these services.

Briefing media on the decisions taken at the 54th meeting of the GST Council, Sitharaman said the status on revenue collection from casinos, online gaming and horse races after six months of implementation of 28% GST was presented to the Council.

GST Council on Monday decided to exempt the import of services by an establishment of a foreign airline company and regularise the past period on an 'as is where is basis'.

As per reports, the GST investigation arm Directorate General of Goods and Service Tax Intelligence (DGGI) had issued show-cause notices to 10 foreign airlines, including British Airways, Lufthansa and Emirates, for not paying Rs 10,000 crore in taxes.

The government on Monday notified the provisions related to the deal value threshold under the competition law, wherein companies will be compulsorily required to seek the Competition Commission's approval for mergers and acquisitions beyond a certain limit.

Besides, the clearance of the Competition Commission of India (CCI) will be needed if the target company has substantial business operations in India, according to notifications issued by the Corporate Affairs Ministry.

The latest move will help the fair trade regulator to keep a closer tab on mergers and acquisitions in the digital space.

The second Asia Pacific Ministerial Conference on Civil Aviation will be held in the national capital on September 11 and 12, which is expected to see the participation of around 250 representatives from 41 countries.

Prime Minister Narendra Modi will be attending the valedictory session of the conference on September 12.

The GST Council on Monday reached a broad consensus on reducing taxes on health and life insurance premiums, and a final decision on this would be taken in the November meeting.

The Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state counterparts, exempted from GST grants or funds received for R&D by central or state-affiliated universities or those institutions which have Income Tax exemptions.