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Musk's post: Dear Prime Minister Ambani, You are the real boss of India
There is a controversy over the issue of license of Starlink. World's richest man Elon Musk has once again targeted Mukesh Ambani, fueling the controversy.
In a post on X, Musk wrote, Dear Prime Minister Ambani, Please accept my apology. I had no idea that you are the real boss of India. Naturally, you want to continue exploiting the greats of India with dominance, but would you still consider allowing them to compete?
Musk further said that many areas of India lack internet access, which deprives children of education and deprives small businesses of the opportunity to sell their goods in the global market.
In this context, Union Communications Minister Jyotiraditya Scindia said that India does not allow monopoly in any sector. Licenses for satellite communication services have been given to Jio, OneWeb and Starlink, while Amazon is also in the process of getting a license. Elon Musk alleged that Starlink's license was being withheld due to commercial interests. Rejecting these allegations, the government sa
Adani Group will build a multispecialty hospital in West Bengal
West Bengal Chief Minister Suvendu Adhikari laid the foundation stone of 2000 bed capacity Adani Health Mandir at Bengal Silicon Valley Tech Hub in New Town, Kolkata. The Adani Foundation will implement this initiative, which is in line with West Bengal's Healthcare Vision 2026.
Under this project, more than 2 lakh in-door patients and more than 20 lakh out-door patients will be served annually. Creating around 10 thousand employment opportunities and creating a world-class academic medical center and comprehensive healthcare ecosystem for Eastern India and beyond, Rs. More than 4000 crores will be invested.
Adani to raise $1 billion from global investors in airport business
Adani Airport Holdings Ltd., the airport company of the Adani Group, has received around Rs. 9,925 crore i.e. one billion dollar primary equity capital. This investment has valued AAHL's pre-money equity valuation at around $18 billion.
These investors include Alpha Wave Global, Premji Invest, Temasek and BlackRock managed funds. The combined shareholding of the investors in AAHL will be about 5.54% after the completion of all the investment processes in the three phases. The final phase is expected to be completed by July 2027.
According to AAHL, the capital raised will be used to expand and modernize the country's airport infrastructure. The company aims to increase the capacity of its airport network to serve approximately 200 million passengers annually. The company plans to create a mixed-use development of about 22 million square feet in the first phase.
It is pertinent to mention here that this investment of Adani Airport is considered to be significant after Adani Inter's successful Rs 15000 crore QIP. This QIP in July 2026 was the largest QIP by an Indian company other than a financial one.
Jeet Adani, Non-Executive Director, AAAHL, said that India's aviation sector is becoming an important multiplier for the country's GDP growth. Expansion of air connectivity accelerates trade, tourism, employment, and regional development.
Food Safety and Standards Authority of India has issued Dabur India Ltd. Strict action has been taken against. FASSAI has banned several Dabur products for misleading claims of 100 percent natural organic product.
FASSAI has ordered a ban on the sale of several food products of Dabur India. The company was making claims such as 100 percent natural, 100 percent pure and 100 percent organic on many of its products, which were found to be inconsistent with regulations, the regulator said. FASSAI has directed the company to immediately stop sale of all such products and submit an action taken report within 15 days.
FASSAI has directed the company to immediately stop selling many of its food products. The regulator said the company was making claims on its products that could mislead consumers and were inconsistent with existing regulations.
The claims Dabur is making on its website and some products have been called vague claims by regulators. Companies claiming 100 percent purity have also violated the rules. FASSAI has directed Dabur India to submit a report within 15 days.
Build trust, not funding: Anil Aggarwal's advice to startups
The last few years have seen a race for startups in India, amid the ongoing battle for unicorns and valuations, with entrepreneur Anil Agarwal advising that valuation is essential for business, but not a measure of success. Companies that solve customer problems are seen to be successful.
Customs duty waived on electronics parts till 2029
The basic customs duty on the parts coming in the manufacture of electronics parts in the country will be waived till the next year 2029. These parts are used in making smart TVs, smart watches, computers, wireless chargers, smart phones, laptops, fitness bands and other electronics items. Besides, this decision has been taken to promote local production under the PLI scheme run by the central government.
This is just the beginning, three times the repo rate may still be dosed
The Reserve Bank of India was expected to raise interest rates on the back of an interest rate hike by the Federal Reserve and the possibility of one more Fed rate hike in the next meeting, and that prediction proved to be true. As the economic growth rate of the country has been high for some time now, inflation was also seen increasing along with it, which increased the concern and it became mandatory for the Reserve Bank to increase the interest rate. If inflation remains high in India too, there may be another interest rate hike in the December meeting.
Meanwhile, higher crude oil prices due to tensions in the Middle East will continue to increase India's import bill and increase inflation, which may result in interest rate hikes. High crude oil prices are not the main reason for the rise in inflation, but the effect of El Nino will be the main reason. This can have a major impact on the rural economy. The effect will be long lasting. RBI is likely to hike interest rates three more times by June. However, India will continue to achieve an economic growth rate of around 7 percent.
El Niño as a threat to 2027 El Niño, which many financial market participants have not yet fully factored in, is a much greater risk for 2027 than for 2023.
Regarding El Nino, Goldman Sachs expert Sengupta said that the impact of El Nino on Kharif crop will be very less. At the same time, he believes that current inventory levels will help curb inflationary pressures in the near future.
Thus, El Nino is a risk whose impact will be more visible later. Decreasing water level in reservoirs can damage rabi crops. Moreover, low stock levels by 2027 could further increase inflation. El Niño in 2027 could adversely affect economic growth and increase inflation.
On the other hand, while the tensions in the Middle East are not in sight, crude oil prices continue to rise. If crude oil prices remain below $100 per barrel, the economic loss to India will be limited, manageable, but if crude oil prices remain above $100, India's economic growth and inflation will be a major hindrance.
Many brokerage firms say that crude oil prices may remain high till December. The reason for this is that there is tension between America and Iran. Ships passing through the Strait of Hormuz fear attack. Production in the Gulf of Mexico is being hampered. Due to which the supply is affected.
Regarding the increase in the repo rate, an economist at Goldman Sachs said that the RBI can still increase the interest rate three times till the month of June. Thus, the interest rate may increase up to one percent by the coming June.
Earnings growth will be moderate this year. Foreign investment flows have been weak. Foreign investors are pulling money out of India and looking for AI-related opportunities in countries like the US, China, South Korea and Taiwan. The world is moving towards AI. The challenges we are facing at the moment are mainly external.
Plastic Expo will be held in September 2027 in Gandhinagar
The Gujarat State Plastic Manufacturers Association on Saturday announced the 2027 edition of its prestigious plastics exhibition PLEXPOINDIA'27. The expo will be held at the Helipad Exhibition Center in Gandhinagar next September.
PLEXPO Chairman Bharat Patel said that the exhibition will provide an important platform for the plastics industry to showcase its manufacturing capabilities, new technologies and various products besides exploring new business opportunities both domestically and internationally.
GSPMA President Anish Patel said that reverse buyer-seller meet will also be organized during the expo, so that direct business contact and business opportunities can be created between buyers and sellers. More than 900 exhibitors are expected to participate in the exhibition, including foreign representatives and companies.
The expo will particularly focus on sustainable plastics, recycling, circular economy solutions, value-added products and advanced manufacturing technologies.
The exhibition will be an important medium for technology exchange, promotion of new products and innovations and networking among various industry stakeholders. Also, small and medium enterprises will also get an opportunity to present their products, technology and manufacturing capabilities.
For the first time in 10 years, the number of LPG customers fell
The number of LPG consumers in the country has declined for the first time in 10 years as the government's emphasis on encouraging the move to PNG, coupled with the suspension of new LPG connections by oil marketing companies, which have seen tight LPG supply due to tensions in the Middle East. In the period from April to August, the number of LPG user households in the country has decreased by around 62 lakh. Supply was interrupted by the Iran War. Due to which oil companies had to close new connections and schedule existing connections. A report mentioned it in petroleum ministry data.
The number of active domestic LPG customers in the country declined from 333.9 million in early April to 327.87 million in early September. Under the Ujjwala scheme launched for poor families, the number of customers has also decreased by around six lakh to 105.7 million.
The decline in the number of LPG consumers has come at a time when the supply of LPG from the Gulf region has been limited due to the Iran war. Amid the supply shortage, oil marketing companies stopped offering new connections. While the company has resorted to Aadhaar-based biometric verification to weed out inactive customers. The number of LPG customers in India has been steadily increasing over the last decade, with the number of active LPG customers increasing from 148.6 million at the beginning of 2015-16 to 333.9 million at the beginning of the current financial year.
On the other hand, around 60 thousand LPG customers were added till July in the financial year, taking the total number to 17.5 million. Of the 6.2 million consumers who switched to LPG, one-sixth were PNG consumers. South India lost 2.63 million, West India 1.62 million, East India 3.4 million and North India 1.5 million.
Fortune India's top 100 billionaires' wealth increased, 31 decreased
Fortune India has released the list of top 100 billionaires of the country, the wealth of Adani-Ambani, the two top rich people of the country, has increased in one year to Rs. A decrease of 1.41 lakh crores has been recorded. However, Mukesh Ambani ranks first and Gautam Adani ranks second.
The total wealth of 30 businessmen included in the top-100 is Rs. 4.26 lakh crore has decreased. In which Mukesh Ambani's wealth is 82 thousand crore rupees and Gautam Adani's wealth is Rs. 59 thousand crores has decreased.
On the other hand, the assets of 56 industrialists were Rs. 7.70 lakh crore has increased. While the wealth of 31 has decreased. Not only this, 13 people have made it to the Fortune India Top-100 for the first time this year. Savitri Jindal's wealth has increased by one lakh crore. While Shyam Bharti and Hari Bharati have seen the highest percentage increase in wealth at 78 percent.
There is a queue of IPOs in the Indian stock market. In which there are high premiums in the gray market to attract investors, but as soon as the issue is filled, the premium from the gray market of these IPOs comes to a low level and the IPOs of such companies are listed at a nominal premium or at a discount, due to which investors feel that they are being cheated.
Currently the IPO of Veegaland Developers is going on, which is one day before the closing of the IPO and this IPO is more than one times oversubscribed, while the IPO premium of Rs 210 crore has reduced in a single day to Rs. 15 has been spoken. Which earlier Rs. 25 was reached.
Similarly, the IPO of Raksan Transformers was opened on 10th. The subscription has been weak in two days. 11 percent premium is being spoken in the gray market, but the NII and retail categories are still not fully filled. Rs. 110 crore SME IPO includes a fresh issue and OFS.
While in the upcoming IPO gray market NSE's Rs. 200 and Hero Motors Ltd. Rs. A premium of 24 is running.
Annu Projects will raise funds of Rs 175 crore through IPO
Annu Projects Ltd. A company active in the EPC sector for its upcoming IPO at Rs. 94 to Rs. 99 price band has been announced. The company's IPO will open on August 25 and close on August 28.
The company through this IPO raised Rs. 175 crore plan to raise funds. Out of this fund Rs. 115 crores for working capital requirement and 15 crores for capital expenditure requirements of the company and purchase of machinery and equipment. The remaining amount will be used for general corporate purposes.
InfinityDAO's security shield against crypto risk will be strengthened
AI-based decentralized financial ecosystem InfinityDAO is moving to create an insurance cover of up to one billion dollars for its IDL token and the entire ecosystem. The initiative aims to strengthen risk management, user security and organizational reliability in the digital asset sector.
The insurance program is being structured by UK-based specialist crypto insurance syndicate. However, the final policy, underwriting conditions, limitations and exclusions are yet to be finalised.
The proposed insurance program seeks to cover five major areas. These include protection against scheduled default related to the IDL token, coverage for certain failures of the InfinityDAO platform, protection against theft and crime of digital assets, and liability cover for directors and officers.
In addition, there are plans to create security frameworks for eligible users and other stakeholders. The proposed total insurance limit of US$1 billion is an attempt to position InfinityDAO as a digital-asset project with large-scale third-party insurance protection.
The relationship with gold is changing, the next boom in gold will see the big hand of Gen-Z, not just jewelers. A new report by the World Gold Council says that the next big boom in gold in India will not only be buying jewellery, but also technology, digital finance and new-age investment products.
The WGC report comes at a time when gold prices have soared over the past few years. People's shopping habits have changed. However, people in India are still spending a lot of money on jewellery. According to a report, people of India have 31 thousand tons of gold. The estimated cost of which is Rs. 315 lakh crores, that is 3.4 trillion dollars. Out of which most of the gold is lying idle in the houses. Due to this it is the least utilized asset in India but it has an important contribution.
According to the WGC, people born between 1997 and 2012 see gold as more than just an inherited asset. It also emphasizes on issues like liquidity of gold and digital access. This is the reason why they are showing more interest in digital gold and technology based investment products instead of just physical jewellery.
Young investors do online research before investing in gold. According to an estimate, consumer spending by Gen-Z could reach approximately $2 lakh crore by 2035, which will have an impact on India's gold market in the future.
