business

Plans to drive in 10 new models, including 7 SUVs; India among 3 key growth pillars: CEO

Markets regulator Sebi is investigating a four-and-a-half-hour trading disruption on MCX, India’s largest commodities exchange. The incident, caused by a system parameter limit for Unique Client Codes exceeding its threshold, delayed operations. If found at fault, MCX could face financial penalties up to 20% of its average profit over the last two years.

Lenskart Solutions’ Rs 7,278 crore IPO saw full subscription on its first day. Institutional and retail investors showed strong interest. The employee portion was also fully subscribed. High networth investors’ portion was undersubscribed. The company had already raised Rs 3,268 crore via the anchor route before the IPO opened. The offer closes on November 4.

India possesses ample domestic savings to foster its own venture capital, according to Commerce Minister Piyush Goyal. He urged greater utilization of local funds, including pension and insurance, to fuel the startup ecosystem’s next growth phase.

UIDAI has formed a high-level expert committee to future-proof Aadhaar technology, focusing on scalability, data security, and cybersecurity resilience. Chaired by Neelkanth Mishra, the committee will draft the ‘Aadhaar Vision 2032’ framework, leveraging advanced technologies to ensure Aadhaar’s continued role as a secure, inclusive digital identity aligned with India’s DPDP Act and global standards.

Apple has achieved an all-time revenue record in India, contributing to its global revenue surge. The company credits strong iPhone 17 and 16 sales, alongside expanding retail presence in emerging markets like India, for this stellar performance. Apple plans further expansion in India, undeterred by geopolitical challenges.

The Reserve Bank of India has launched three key surveys, including one on inflation expectations, to inform its monetary policy. These surveys will gather insights from urban and rural households on economic conditions, employment, income, and price trends. The findings will be crucial for the upcoming Monetary Policy Committee meeting.

India’s IPO market is experiencing a significant boom, driven by strong domestic investor participation. Companies like LG Electronics India and Lenskart Solutions Ltd. have seen rapid oversubscriptions, positioning India as a leading global IPO destination. This surge reflects deep local liquidity and a fundamental shift towards a self-sufficient equity ecosystem.

India and the US are in advanced trade deal talks, with Commerce Minister Piyush Goyal hinting at an imminent agreement. This follows US President Trump’s positive remarks. The proposed deal could significantly slash US tariffs on Indian exports, potentially from 50% to 15%.