Business

Elon Musk intensified his criticism of Mukesh Ambani over Starlink's delayed commercial launch in India, sarcastically referring to him as "Prime Minister Ambani" and accusing him of seeking to protect a telecom monopoly.

India’s mobile network traffic is projected to grow 17 per cent annually through 2030, compared with 2.7 per cent revenue growth for operators, a KPMG report says. It also forecasts the telecom equipment market reaching $50 billion by FY32

Gold ETF assets in India rose 164 per cent year-on-year to Rs 1.91 lakh crore in August 2026, according to an Emkay report. Silver ETFs and multi-asset funds also recorded substantial assets, reflecting growing interest in diversification and commodity-linked investments

Goldman Sachs expects the RBI to raise interest rates three times by June 2027, adding 75 basis points. Economist Santanu Sengupta warned that El Niño, lower reservoir levels and sustained crude oil prices above $100 could increase inflationary pressures and constrain growth.

Elon Musk’s estimated net worth fell to $991.6 billion on Thursday after declines in SpaceX and Tesla shares erased $36.4 billion from his fortune. Nvidia CEO Jensen Huang and Oracle co-founder Larry Ellison also lost billions amid a technology stock sell-off

Coal supplies to Indian power plants rose 9 per cent in October compared with September, while daily stock depletion more than halved. The Coal Ministry said supplies were stabilising, with increased rail loading and redistribution measures supporting uninterrupted power generation

The rupee gained 23 paise to 96.65 against the US dollar in early trade on Friday, supported by a softer dollar and suspected RBI intervention. Lower oil prices and gains in equities also shaped market sentiment amid continued foreign investor selling.

Indian companies raised a record $12.5 billion through IPOs during January-September 2026, despite market volatility and foreign investor outflows. While average issue sizes increased, listing gains weakened and overall equity fundraising declined, testing the strength of domestic investor demand

The government has expanded price controls on non-scheduled anti-cancer medicines by capping trade margins at 30 per cent of MRP. The move could reduce prices by up to 70 per cent, saving patients an estimated Rs 2,500 crore annually

Indian equity benchmarks opened higher on Friday, led by IT stocks, with the Nifty IT index gaining over 3 per cent. Elevated crude prices, high US bond yields and sustained foreign investor selling continued to weigh on broader market sentiment

External Affairs Minister S. Jaishankar arrived in Ethiopia to strengthen India's strategic partnership with the African nation. He is scheduled to meet Ethiopian leaders, discuss bilateral cooperation and regional issues, and chair the Regional Heads of Mission Conference in Addis Ababa

The GST Council approved major process reforms, scrapping tax officers’ arrest powers and raising the prosecution threshold to Rs 5 crore. It also eased registration changes, sped up refunds and widened input tax credit eligibility, without altering GST rates

Trader associations have urged NPCI to postpone the implementation of MDR charges on certain UPI merchant transactions from October 15, arguing that the move could affect businesses during the festive season. NPCI is yet to take a decision on the request.

It is clear that the RBI is using strong growth as a window to act before inflation gets entrenched

Jio showcased a range of home-grown technologies at India Mobile Congress 2026, highlighting India's transition from a technology consumer to a creator and exporter. The company unveiled innovations, all designed and tested at scale in India with global deployment potential.

PHDCCI welcomed the RBI’s policy rate hike after 44 months and its shift to calibrated tightening, but called for future monetary decisions to remain data-dependent. It also stressed maintaining credit flows to productive sectors amid inflation, geopolitical and energy-price uncertainties

Bengaluru-based E3 Electric.Ai has started production of its Trion electric scooter at its Hyderabad facility. Customer deliveries will begin from October 7, with the first 100 buyers receiving extended warranty and roadside assistance benefits under the company’s founding-owner programme.

Bharti Airtel has launched new postpaid plans starting at Rs 499, offering customers one complimentary international roaming pack every year. The five-day pack includes 5GB data, outgoing calls and SMS benefits, along with entertainment and cloud-storage subscriptions.

JioHotstar has entered the Middle East and North Africa through a partnership with STARZPLAY. Its MENA offering includes Indian originals, television shows, films and reality franchises across multiple languages, with plans starting at AED 34.99 per month.

Skoda Auto India has launched the updated Slavia sedan starting at Rs 9.99 lakh. The new model gets an eight-speed automatic option for the 1.0 TSI engine, updated styling, new features, six airbags and a five-star Global NCAP safety rating.

RBI Governor Sanjay Malhotra said the new Merchant Discount Rate on select UPI transactions is unlikely to hurt digital payment volumes. From October 15, a 0.4 per cent MDR will apply to specified person-to-merchant transactions above Rs 2,000

India’s EV retail sales hit a record 3,33,634 units in September, rising 74 per cent year-on-year, FADA data showed. Electric two-wheelers and passenger vehicles recorded their highest-ever monthly sales, while overall EV penetration rose to nearly 13 per cent

Triumph Motorcycles has introduced the Bonneville T40, T40 Black and T4 in India, expanding its 350cc range with retro styling and modern technology. The motorcycles feature the new TR Series engine, updated rider electronics, relaxed ergonomics and Bonneville design elements.

Bharti Airtel has raised prices of its postpaid plans by around 3-10 per cent, with revised tariffs ranging from Rs 499 to Rs 1,799 monthly. The plans add one free international roaming trip annually, alongside data, calling and SMS benefits