Brands are leveraging the Maha Kumbh Mela at Prayagraj as a significant marketing opportunity. They aim to capture consumer interest through advertisements and product sampling amidst a massive turnout. Companies are setting up booths, hoardings, and engaging in creative promotions to boost brand visibility and test new products.
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NPCI extends the deadline for PhonePe and Google Pay to lower their market share in UPI by two years, lifting the onboarding limit for WhatsApp. Despite new players, PhonePe and Google Pay dominate the market. NPCI aims to avoid single-point failure risk and supports diverse UPI app growth.
Tech Mahindra reported a 93% increase in net profit for the December quarter, reaching Rs 983 crore, aided by a low base in the corresponding period last year. Revenue from operations grew by 1.4% to Rs 13,286 crore. The company secured new deals worth $745 million and continued its hiring drive.
Leave Travel Allowance (LTA) allows salaried employees to claim tax exemptions on travel expenses within India. LTA can be claimed for a maximum of two journeys within a four-year block. Only transportation costs, such as airfare or train tickets, are covered. To claim LTA, employees must submit original travel documents and proof of expenses.
India is likely to witness a $50 billion consumption and savings boost due to the wage revision for central government employees and pensioners in January 2026. Around 3.1 crore people are expected to benefit, with UBS predicting the hike to have a stable impact on India's fiscal position, favoring savings over consumption.
Boeing plans to increase its sourcing from India, which currently stands at Rs 10,000 crore annually from 320 suppliers. The company expects to deliver two aircraft per month to Indian airlines over the next two years and is investing heavily in pilot training, MROs, and engineering centers in Bangalore and Chennai.
US stock markets fell after President Trump announced higher tariffs on Canadian steel and aluminum. The Dow Jones dropped 625 points. Companies like Delta and Southwest Airlines revised their revenue forecasts due to uncertainty. Tesla's stock rose as Trump expressed support for the company. Major tech stocks showed stability despite the market turmoil.
India's solar PV module manufacturing is set to reach 125 GW by 2030, up from 80 GW today. Solar cell capacity will rise to 40 GW. Pralhad Joshi highlighted local manufacturing and government's incentives. India aims to double its renewable energy capacity by 2030 and become a global leader in sustainable energy. Connectivity will reach more villages.
Post-Covid, Japanese companies are increasingly considering India as a manufacturing base under the 'China Plus One' strategy to reduce reliance on China. Deloitte Japan's CEO highlighted India’s potential not just as a production hub but also as a gateway to high-growth markets in the Middle East and Africa. The Japanese government supports this diversification move.
The Central Government has requested Starlink, Elon Musk's satellite venture, to establish a control centre in India. This measure will enable the suspension or shutdown of communications services in sensitive areas when needed to maintain law and order. Additionally, call interceptions by law enforcement agencies must be facilitated. Starlink is working with Reliance Jio and Airtel for network enhancements.
The rupee experienced its strongest single-day gain since June 2024, closing at Rs 86.36 against the US dollar, bolstered by a dip in the dollar index and positive domestic market cues. Equities saw positive movement, and crude oil prices pulled back amid potential resolution in the Middle East conflict.