Business

India’s apparel industry is witnessing a robust rebound, with revenue growth accelerating to 13–14% following a recent Goods and Services Tax (GST) rate cut. Industry experts attribute the surge to lower consumer prices, increased discretionary spending, and renewed demand across retail channels. Both domestic brands and international fashion retailers are benefiting from higher footfall in stores and rising online sales.

Federal Bank reported a decline in its net profit for the second quarter of FY2024–25, weighed down by higher provisioning requirements and moderate loan growth. Despite steady operating income and healthy advances, increased provisioning for potential loan losses affected profitability. The Kerala-based private sector lender remains focused on maintaining asset quality amid a challenging credit environment.

Karur Vysya Bank (KVB), one of India’s oldest and most trusted private sector lenders, has achieved a landmark milestone by crossing Rs. 2 lakh crore in total business. The achievement reflects the bank’s strategic focus on digital transformation, prudent lending, and customer-centric growth. Over the past few years, KVB has consistently strengthened its balance sheet through disciplined risk management and technology-driven operations.

ACME Solar Holdings Ltd., one of India’s leading renewable energy developers, has successfully commissioned a 100-megawatt (MW) wind power project in Gujarat. This milestone marks a significant step in the company’s transition from a solar-focused enterprise to a diversified clean energy provider. The project reinforces India’s growing commitment to sustainable energy and underscores Gujarat’s position as a key renewable hub.

ISS Facility Services India, a subsidiary of Denmark-based ISS Group, has announced ambitious growth plans to double its revenue to ₹2,500 crore and expand its workforce to 75,000 employees by 2025. This strategic initiative aims to capitalize on India's burgeoning facility management market, focusing on sustainability, technological innovation, and skill development. The company's growth trajectory is supported by increased demand in the post-pandemic business environment and a series of strategic partnerships.

Tata Steel has entered into a 20-year agreement with Air Water India Private Limited (AWIPL) for the operation and maintenance of its Air Separation Unit (ASU) in Jamshedpur. The ASU, currently in the stabilization phase, is designed to produce 1,800 tons of oxygen daily, along with nitrogen, argon, and dry compressed air. These gases are integral to Tata Steel's Blast Furnaces and Steel Melting Shops. The collaboration leverages AWIPL's global expertise in cryogenic operations, including insights from their Japanese facilities, to enhance plant efficiency and operational excellence.

BEML Limited, a flagship Defence Public Sector Undertaking (DPSU) under the Ministry of Defence, has entered a strategic collaboration with Kineco Limited to co-develop advanced composite materials for defence and aerospace applications. The partnership aims to enhance indigenous manufacturing capabilities in lightweight, high-strength components such as carbon-fibre-reinforced polymers (CFRP), glass-fibre-reinforced polymers (GFRP), honeycomb structures, and bonding consumables.

Dr. Nitesh Kumar, Managing Director and CEO of Emami Realty Limited, has been appointed as the Co-Chairman of the Infrastructure & Real Estate Council of the Merchant’s Chamber of Commerce & Industry (MCCI) for the 2025–26 term. This appointment underscores Dr. Kumar's significant contributions to the real estate sector and his leadership within MCCI. As Co-Chairman, he aims to drive initiatives that enhance housing accessibility and affordability across India, leveraging his extensive experience in real estate development, strategic planning, and marketing.

The Delhi government has launched a ₹55 crore collateral-free loan scheme aimed at supporting small and medium-sized enterprises (SMEs), with a special focus on women entrepreneurs and MSMEs promoted by Agniveers. Under this initiative, businesses can access loans up to ₹10 crore without the need for collateral, significantly reducing financial barriers to entrepreneurship. The scheme is a collaborative effort with the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), ensuring high loan guarantee coverage to mitigate lender risks.

Air India is intensifying its fleet modernisation and route expansion strategy as part of its broader transformation plan under the Tata Group. The airline has initiated a comprehensive retrofit of its Airbus A320neo aircraft, aligning interiors and configurations with global standards, while also announcing the addition of more than 170 weekly flights across domestic and short-haul international routes this winter.