Author: Sreelatha M

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Beyond

Abu Dhabi tightens junk food supermarket rules

Abu Dhabi is changing the way shoppers encounter unhealthy food in supermarkets, with authorities moving to make healthier choices easier without banning the products people like to buy.

From January 1, 2027, supermarkets across the emirate will have to stop placing high-fat, salt and sugar (HFSS) food and beverages in prominent, high-traffic areas such as store entrances, checkout counters and end-of-aisle displays.

The new Responsible Food and Beverage Placement Policy has been launched by Healthy Living in collaboration with the Abu Dhabi Registration Authority (ADRA), the regulatory arm of the Abu Dhabi Department of Economic Development (ADDED). The policy will become mandatory from the start of next year.

The change is not a ban on junk food. Consumers will still be able to buy their preferred snacks, sweets, sugary drinks and other products classified as unhealthy. The difference will be where and how prominently these products are displayed.

Under the new rules, food and beverages classified as unhealthy under the Abu Dhabi Public Health Centre’s SEHHI system cannot be placed in areas where shoppers are most likely to see them or make impulse purchases. They will continue to be available in their regular store aisles.

The policy will apply to physical supermarkets larger than 4,000 square feet. It will also extend to online supermarket platforms, bringing digital shopping spaces under the same approach.

On online grocery platforms, HFSS products will no longer be allowed to receive prominent placement on homepages, search results, promotional pop-ups or checkout pages.

That means a shopper browsing an online supermarket may still find a packet of chips, a sugary drink or another HFSS product, but such products will not be pushed as prominently through the platform’s design.

For shoppers, the change may be most noticeable at the checkout. Instead of being surrounded by tempting snacks while waiting to pay, customers are expected to see fewer less-nutritious products in these high-exposure locations.

Officials say the idea is to address impulse buying rather than restrict personal choice.

Dr Ahmed AlKhazraiji, Executive Director of Healthy Living, said the policy is based on behavioural science and evidence from other markets. The thinking is straightforward: what shoppers see first can influence what they eventually put in their baskets.

The policy therefore seeks to change the shopping environment rather than lecture consumers about what they should eat.

Mohamed Munif Al Mansoori, Director-General of ADRA, said the initiative reflects Abu Dhabi’s focus on consumer health, safety and wellbeing. Authorities also plan awareness efforts to help people better understand their food choices.

The policy was developed with several government bodies, including the Department of Health, Abu Dhabi Public Health Centre, Abu Dhabi Quality and Conformity Council and Abu Dhabi Agriculture and Food Safety Authority.

Officials also consulted retailers while developing the standards, with the aim of making the requirements practical for supermarkets and online grocery businesses.

Some retailers have already moved ahead of the January 2027 deadline. Carrefour has completed implementation of the Responsible Food and Beverage Placement Standards across its stores in Abu Dhabi, according to authorities.

For supermarket operators, the policy will require changes to store layouts, promotional strategies and digital merchandising. Checkout displays and end-of-aisle promotions are important retail tools because they can encourage customers to make unplanned purchases. Moving HFSS products away from these areas could therefore change how retailers market certain food and beverage categories.

The impact will extend beyond physical shops. Online grocery platforms will also need to review how products appear in search results and promotional sections. This brings e-commerce food retail into Abu Dhabi’s wider public-health strategy.

The move forms part of Abu Dhabi’s broader Healthy Living strategy, which focuses on prevention and healthier lifestyles. The emirate has already introduced measures targeting food environments in schools, including rules aimed at encouraging healthier food choices among children.

The latest supermarket policy takes that approach into everyday shopping.

Rather than telling residents that certain foods are off limits, authorities are trying to make the healthier option easier to notice. A shopper can still walk down the aisle and pick up the same chocolate bar, crisps or sugary beverage. What changes is whether that product is waiting at the entrance, next to the checkout or pushed to the top of an online shopping page.

For retailers, the next few months will be about adapting before the January 1, 2027 compliance deadline. For consumers, the change could mean that the familiar last-minute snack near the cash counter becomes harder to find.

 

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Corporate

Indo-MIM makes strong debut, shares surge 45%

Indo-MIM shares made a strong debut on the stock exchanges on Thursday, July 30, rising nearly 45% above the company’s initial public offering (IPO) price. The precision engineering components maker listed at Rs 703 per share on the BSE, a 44.94% premium over its issue price of Rs 485. On the National Stock Exchange (NSE), Indo-MIM shares opened at Rs 700, representing a 44.32% gain.

The listing came as a pleasant surprise for investors who had been closely tracking the Indo-MIM IPO ahead of its market debut. While the grey market had already pointed to a strong listing, the actual performance was even better. Before listing, the company’s shares were reportedly commanding a grey market premium of around Rs 187, implying a potential listing price of about Rs 672 and a gain of nearly 39% over the IPO price. The stock, however, opened considerably higher at Rs 700-703.

The buying interest did not stop at the opening price. On the BSE, Indo-MIM shares climbed as high as Rs 725.15 during early trading, marking a gain of 49.51% from the issue price. The sharp movement reflected the strong demand that had already been visible during the IPO subscription period.

Indo-MIM’s Rs 3,811-crore IPO was open for subscription from July 23 to July 27. The issue was priced in the range of Rs 461 to Rs 485 per share, with investors bidding aggressively throughout the offer period. By the final day, the IPO was subscribed 72.34 times, with bids received for around 39.85 crore shares against approximately 5.50 crore shares on offer.

Institutional investors were particularly enthusiastic about the issue. The qualified institutional buyer (QIB) portion was subscribed 204.34 times, while the non-institutional investor (NII) category received bids for 50.63 times the shares reserved for it. The retail investor portion was subscribed 6.67 times, while the employee portion also saw 6.67 times subscription. The broad-based demand gave the Indo-MIM IPO considerable momentum before its listing.

The public issue consisted of a fresh issue of shares worth around Rs 500 crore and an offer for sale (OFS) of about 6.83 crore shares by existing shareholders. According to the company’s IPO plans, around Rs 400 crore from the fresh issue proceeds will be used to repay or prepay certain outstanding borrowings. The remaining funds will be used for general corporate purposes.

The strong stock market debut has also brought attention back to Indo-MIM’s business model and its position in the precision manufacturing industry. Headquartered in Bengaluru and incorporated in 1996, the company manufactures precision engineering components using Metal Injection Molding, or MIM, technology. It provides end-to-end manufacturing solutions and serves a range of industries, including automotive, aerospace, defence, medical and consumer sectors.

Indo-MIM’s diversified customer base and its presence across several industrial applications were among the factors that helped build investor interest in the IPO. The company is also described as the world’s largest Metal Injection Molding company by installed capacity, giving it a significant position in a specialised manufacturing segment.

However, the spectacular Indo-MIM share price debut also brings a note of caution for investors. After a nearly 45% listing gain, the stock is trading at a valuation considerably higher than the IPO price. Analysts have pointed out that the sharp rise could lead to profit booking in the near term, particularly among investors who received shares through the IPO allotment.

Market observers have suggested that investors with a long-term view could continue to track the company’s business performance and growth prospects, while those sitting on sizeable listing gains may consider booking part of their profits. One analyst cited by Business Standard noted that the stock was trading well above its pre-issue valuation and could see near-term volatility after the sharp listing pop.

For investors, the Indo-MIM IPO listing is therefore a story of strong demand meeting an equally strong market debut. The company’s shares not only delivered substantial gains to IPO allottees but also outperformed expectations based on the grey market premium. The focus will now shift from the listing-day excitement to whether Indo-MIM can justify its higher market valuation through sustained earnings growth, expanding business opportunities and continued demand for its precision engineering solutions.

With the company entering the listed market at a valuation of around Rs 35,133 crore at the time reported during early trading, Indo-MIM has made an impressive transition from an unlisted precision manufacturing business to a closely watched stock market name.

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Beyond

Bengaluru restaurants warn Swiggy, Zomato

Bengaluru’s restaurant industry is preparing for a possible showdown with food delivery giants Swiggy and Zomato. Restaurant owners have warned that they could stop accepting orders through the two platforms from August 15 unless their concerns over high commissions and other charges are addressed.

The warning comes after months of discussions between restaurant representatives and the food delivery companies. The Bangalore Hotels Association (BHA) has said the talks have not produced the changes restaurants are looking for. It has now given Swiggy and Zomato a deadline to respond to their demands.

For restaurants, the biggest concern is the amount of money that disappears from every online order before the final payment reaches them. While commissions can typically be in the 15% to 30% range, restaurant owners say the actual deduction can become much higher once taxes, promotional costs, advertising expenses and other charges are included.

This has become a major issue for restaurants operating on already tight margins. An order may generate good revenue on paper, but the restaurant still has to pay for ingredients, kitchen staff, rent, electricity, packaging and other expenses. After platform-related deductions, owners say there is often very little left as profit.

Restaurant owners are also questioning the way discounts are handled on food delivery apps. They argue that restaurants are sometimes expected to bear part of the cost of promotional offers, even when the discounts are designed to attract customers to the platform.

The restaurant industry wants greater transparency over these deductions. Owners are seeking detailed settlement statements that clearly explain how much has been charged for commissions, advertising, promotions, taxes and other services.

Another major concern is the treatment of cancelled orders and customer complaints. Restaurants say they can suffer losses when food has already been prepared but an order is cancelled. They want clearer rules and compensation in cases where the restaurant has incurred the cost of preparing the meal.

Restaurant associations are also asking platforms to ensure that promotional campaigns are voluntary. They want restaurants to have a simple way to opt out of discounts and advertising programmes instead of being automatically included.

The issue has been building for several years. Restaurant owners have repeatedly argued that their dependence on large food delivery platforms has reduced their bargaining power. At the same time, restaurants cannot easily leave these platforms because Swiggy and Zomato provide access to millions of customers.

That dependence is at the heart of the current dispute. For a small restaurant, being listed on a food delivery app can bring in customers who may never visit the outlet physically. But the same platform can also take a significant share of the order value.

The Bangalore Hotels Association estimates that Bengaluru has around 34,000 hotels and restaurants, with nearly 20,000 using online food delivery platforms. If a large number of establishments participate in the proposed boycott, customers could see fewer restaurants available on Swiggy and Zomato from August 15.

The National Restaurant Association of India (NRAI) has supported the concerns raised by Bengaluru’s restaurant community. However, the wider industry body has also stressed the importance of dialogue and finding a workable solution rather than allowing the dispute to escalate.

Restaurant owners insist that the proposed boycott is not necessarily an attempt to permanently sever ties with Swiggy and Zomato. Instead, they want to push for what they describe as a more sustainable relationship between restaurants and food delivery platforms.

The financial pressure on restaurants has become more noticeable as operating costs have increased. Ingredients, wages, rent, electricity and packaging expenses have all become important components of a restaurant’s cost structure. Owners argue that high platform commissions make it increasingly difficult to absorb these expenses without raising menu prices.

Customers can also feel the impact. Prices on delivery apps are often higher than those offered directly at restaurants, partly because businesses need to account for delivery commissions and other platform costs. A prolonged dispute could therefore affect not only restaurants and delivery companies but also consumers.

The growing competition in the food delivery space could give restaurants more alternatives. Rapido-backed Ownly has entered the market with a zero-commission approach for restaurants, while several businesses are also exploring the Open Network for Digital Commerce, or ONDC.

For Swiggy and Zomato, restaurant partners remain an essential part of the business. But running large delivery networks involves technology, logistics, customer support and marketing costs. The companies therefore have to balance restaurant demands with the economics of operating their platforms.

The next few weeks will be important for both sides. If Swiggy, Zomato and restaurant associations manage to reach an agreement, the August 15 boycott could be avoided. If discussions fail, Bengaluru could witness a significant disruption in online food ordering.

The dispute ultimately comes down to the economics of a single food order. Restaurants want a larger share of the money they earn, while delivery platforms need enough revenue to maintain their technology and delivery networks. Finding a middle ground will be crucial if both sides want the online food delivery business to continue growing.

For Bengaluru’s restaurants, the message is clear: access to customers matters, but so does profitability. With August 15 approaching, the focus is now on whether the two sides can find common ground before the threatened boycott becomes reality.

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Leaders

P&G appoints CEO Shailesh Jejurikar as board chairman

Procter & Gamble (P&G) has appointed Shailesh Jejurikar as Chairman of its Board of Directors, adding another major responsibility to the Indian-origin executive’s leadership role at one of the world’s biggest consumer goods companies. The appointment will take effect from August 1, 2026, with Jejurikar continuing as the company’s President and Chief Executive Officer.

The move marks an important step in P&G’s planned leadership transition. Jejurikar became P&G’s President and CEO on January 1, 2026, succeeding Jon Moeller. He will now take over the chairmanship as Moeller prepares to leave the company after a 38-year career. Moeller will retire from P&G’s Board on July 31 and from the company on August 14.

The transition brings the company’s top executive and board leadership together under Jejurikar at a time when P&G continues to navigate changing consumer behaviour, global competition, supply chain pressures and evolving market conditions.

Jejurikar has spent more than three decades at P&G, giving him a deep understanding of the company and its businesses. He joined the organisation in 1989, shortly after completing his MBA from the Indian Institute of Management Lucknow. He also holds a bachelor’s degree in Economics from Mumbai University. Born in Mumbai, Jejurikar has built an international career spanning North America, Europe, Asia, Africa and Latin America.

His career at P&G has involved several important businesses and leadership positions. He worked across Fabric Care, Home Care, Health Care and Beauty, gradually taking on larger responsibilities across markets and functions. Before becoming CEO, he served as Chief Operating Officer, where he was responsible for P&G’s Enterprise Markets, including Latin America, India, the Middle East, Africa, Southeast Asia and Eastern Europe.

As COO, Jejurikar was also responsible for or closely involved with several major corporate functions, including information technology, global business services, sales, market operations, purchasing, manufacturing, distribution and new business. This experience has given him exposure not only to consumer brands but also to the operational systems that support a global company.

His earlier leadership roles included serving as CEO of Global Fabric and Home Care from 2019 to 2021, President of the Global Fabric Care & Home Care Sector from 2018 to 2019 and President of Global Fabric Care from 2015 to 2018. During these years, he helped strengthen P&G’s Fabric Care and Home Care businesses across several major international markets.

Jejurikar has also been involved in P&G’s sustainability efforts. He served as Executive Sponsor for Global Sustainability between 2016 and 2021, with a focus on integrating sustainability into the company’s everyday business operations and creating long-term value for consumers and shareholders.

With his appointment as Chairman, Jejurikar will bring together his operational experience, consumer understanding and strategic leadership at both the executive and board levels. P&G said his career has given him experience in regional and global brand development, commercial strategy, business management and risk management across diverse markets.

The company currently operates in around 70 countries and has a portfolio of widely recognised consumer brands, including Tide, Ariel, Pampers, Gillette, Head & Shoulders, Pantene, Olay, Oral-B, Vicks and Whisper. P&G says its products reach around five billion people in more than 180 countries every year.

For Jejurikar, the new role also carries the responsibility of guiding the company’s Board during the next phase of its growth. His long association with P&G means the leadership change is less about a sudden shift and more about extending an already familiar hand at the top.

Commenting on Moeller’s departure, Jejurikar acknowledged his predecessor’s long contribution to P&G and credited his strategic vision with helping shape the company. Moeller held several senior positions during his 38 years at P&G, including Chief Financial Officer, Chief Operating Officer, Chief Executive Officer and Executive Chairman.

The appointment therefore closes one chapter of P&G’s leadership story while giving Jejurikar a wider mandate. As President, CEO and now Chairman, he will be at the centre of the company’s strategy, governance and execution.

For Indian business observers, the appointment is also significant because of Jejurikar’s Mumbai roots and his rise through a global organisation over more than three decades. His journey from joining P&G in 1989 to becoming its President and CEO and now Chairman highlights the depth of leadership opportunities within multinational consumer goods companies.

The immediate focus for Jejurikar will be to maintain P&G’s momentum while responding to rapidly changing consumer needs, technological shifts, global economic pressures and intense competition. With extensive experience across markets and business functions, he enters the chairmanship with a detailed understanding of both the company’s strengths and the challenges ahead.

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Leaders

Nandita Sinha takes charge of Swiggy Instamart growth

Swiggy has appointed former Myntra chief executive Nandita Sinha as the new CEO of Instamart, signalling a fresh leadership chapter for its fast-growing quick commerce business. She will assume the role on August 3, taking over from Amitesh Kumar Jha, who is stepping down after leading the grocery delivery platform through a period of rapid expansion.

The leadership change comes as India’s quick commerce sector witnesses fierce competition, with companies racing to strengthen delivery networks, improve customer experience and move closer to profitability. Swiggy believes Sinha’s extensive experience in e-commerce and consumer businesses will help Instamart accelerate its next phase of growth.

Sinha joins Instamart after a successful stint as CEO of Myntra, where she played a key role in expanding the fashion platform’s customer base, strengthening brand partnerships and driving business growth. Before leading Myntra, she held several senior leadership positions within the Flipkart Group and earlier worked with consumer goods companies Hindustan Unilever and Britannia Industries.

Her experience spans retail, digital commerce, technology and brand building, making her one of the most seasoned business leaders in India’s consumer internet ecosystem. Industry experts believe that background will be valuable as Instamart navigates an increasingly crowded quick commerce market.

Announcing the appointment, Swiggy said Sinha’s proven ability to scale businesses, build strong teams and deliver customer-focused growth makes her the right leader to guide Instamart through its next phase.

Sinha succeeds Amitesh Kumar Jha, who joined Swiggy from Flipkart and was instrumental in transforming Instamart into one of India’s leading quick commerce platforms. During his tenure, the business significantly expanded its footprint, strengthened supply chains and improved operational efficiency while focusing on sustainable growth.

In his farewell message, Jha reflected on Instamart’s journey, saying the company had evolved from pursuing rapid expansion to building a business with stronger financial discipline. He noted that the platform had established a solid foundation for long-term profitability while continuing to scale its operations across the country.

Swiggy thanked Jha for his contribution in building the quick commerce business and said it remains committed to expanding Instamart’s reach under Sinha’s leadership.

The appointment comes at a critical time for the quick commerce industry. What began as a niche convenience service has rapidly evolved into one of India’s fastest-growing segments in e-commerce. Consumers increasingly expect groceries, fresh produce, household essentials and other everyday items to be delivered within minutes, prompting companies to invest heavily in technology, logistics and neighbourhood fulfilment centres.

Instamart currently competes with Blinkit, Zepto, Amazon and Flipkart Minutes in a market where speed, convenience and customer loyalty have become key differentiators. As competition intensifies, companies are also placing greater emphasis on profitability after years of aggressive expansion.

Analysts say Swiggy’s decision to bring in a leader with deep experience in digital retail reflects a shift towards building a stronger, more sustainable business. Beyond expanding market share, the focus is increasingly on improving customer retention, operational excellence and efficient execution.

The leadership transition also comes ahead of Swiggy’s upcoming financial results, making it an important development for investors monitoring the company’s quick commerce strategy. Instamart has emerged as one of Swiggy’s biggest growth drivers and is expected to play an even larger role in the company’s long-term plans.

Market reaction to the announcement has been positive, with investors viewing Sinha’s appointment as a strategic move that strengthens Swiggy’s leadership bench. Her experience in managing large consumer businesses and scaling technology-led operations is expected to support Instamart’s ambitions in a highly competitive market.

Sinha is widely recognised for her collaborative leadership style and customer-first approach. Over the years, she has emphasised the importance of accountability, innovation and building empowered teams—qualities that Swiggy believes will help Instamart continue evolving in a fast-changing business environment.

Her appointment also reflects a broader trend in India’s startup ecosystem, where experienced leaders from established technology companies are increasingly being chosen to lead high-growth businesses. As competition becomes more intense, companies are placing greater value on proven execution and operational expertise.

For Swiggy, the leadership change is more than just a routine executive appointment. It represents a strategic step aimed at strengthening Instamart’s position in India’s booming quick commerce market. With Nandita Sinha at the helm, the company hopes to deepen customer engagement, expand its presence across cities and drive profitable growth as demand for rapid grocery and essentials delivery continues to rise.

Categories
Corporate

Sensex soars 890 points, Nifty reclaims 24,250 mark

Indian equity markets witnessed a powerful rebound on Wednesday, with benchmark indices posting their strongest gains in weeks as investors lapped up banking, information technology and automobile stocks amid improving domestic and global sentiment. The BSE Sensex jumped 888.91 points, or 1.16 per cent, to settle at 77,654.60, while the NSE Nifty50 advanced 264.60 points, or 1.10 per cent, to close at 24,250.20, reclaiming the crucial 24,250 level.

The rally added nearly ₹4 lakh crore to the market capitalisation of BSE-listed companies, offering a significant boost to investor wealth after a series of volatile trading sessions. The strong finish reflected growing confidence in India’s economic outlook, backed by healthy corporate earnings and positive global cues.

Markets opened firmly and extended gains through the day as buying intensified across heavyweight sectors. The Sensex crossed the 1,000-point mark during intra-day trading before trimming some gains in the final hour due to mild profit-booking. Despite the late pullback, the benchmarks ended comfortably higher, signalling that bullish sentiment has returned to Dalal Street.

Information technology stocks emerged as the biggest drivers of the rally after several companies reported encouraging quarterly earnings. Investors interpreted the earnings as a sign that demand for technology services remains resilient despite global economic uncertainties. Banking and financial stocks also witnessed strong buying as expectations of healthy credit growth and stable asset quality continued to support the sector.

HCLTech was the top performer among Sensex constituents, climbing more than 5 per cent after posting stronger-than-expected quarterly results. Tech Mahindra and Infosys also recorded impressive gains as investors increased exposure to frontline IT stocks. Among banking counters, Axis Bank advanced sharply, while Mahindra & Mahindra gained on optimism surrounding robust vehicle demand and healthy sales prospects.

The broader rally extended beyond large-cap stocks, with buying visible across financial services, automobiles, capital goods and consumer discretionary shares. Analysts said the widespread participation across sectors indicated that the market’s recovery was based on improving investor confidence rather than short covering alone.

While most frontline stocks ended in positive territory, a few defensive counters bucked the trend. Nestlé India and Asian Paints were among the biggest losers on the Sensex as investors booked profits in consumer-focused stocks. Sun Pharma also ended lower, reflecting selective selling in pharmaceutical counters despite the overall market strength.

According to market experts, the rally was fuelled by a combination of domestic resilience and supportive global developments. Strong quarterly earnings from several blue-chip companies reassured investors that corporate profitability remains intact despite global headwinds. Positive cues from international markets, expectations of stable monetary policy and hopes of continued foreign institutional investor (FII) participation further strengthened sentiment.

Investors also drew confidence from recent macroeconomic data, which continues to point towards robust growth in the Indian economy. Stable inflation, resilient domestic consumption and sustained infrastructure spending have reinforced expectations that India will remain one of the world’s fastest-growing major economies. These factors have encouraged both institutional and retail investors to increase exposure to equities.

Global developments also played a role in lifting market sentiment. Although crude oil prices remain elevated amid geopolitical tensions in West Asia, investors largely chose to focus on corporate fundamentals rather than external risks. Positive trends in overseas equity markets further supported buying in Indian shares.

Analysts noted that foreign investor activity will remain a key factor for market direction in the coming weeks. Sustained FII inflows could provide additional momentum to the rally, while domestic institutional investors continue to offer stability during periods of global uncertainty. Strong participation from domestic mutual funds has also helped cushion the market against external shocks in recent months.

For retail investors, Wednesday’s rally came as a welcome relief after several sessions of uncertainty. Many investors had remained cautious due to geopolitical tensions, fluctuating crude oil prices and mixed global signals. The sharp recovery demonstrated that positive earnings and strong domestic fundamentals continue to outweigh near-term concerns.

Market participants are now closely watching the remaining corporate earnings announcements for further direction. Results from major companies across banking, financial services, manufacturing and consumer sectors are expected to influence sentiment in the coming days. Investors will also monitor global economic data, movements in crude oil prices and policy signals from major central banks.

Despite Wednesday’s strong gains, analysts advised investors to remain selective and avoid chasing stocks purely on momentum. They believe companies with strong balance sheets, consistent earnings growth and reasonable valuations are likely to outperform over the medium term. Short-term volatility may persist as global geopolitical developments and foreign fund flows continue to influence investor behaviour.

Wednesday’s rally underlined the resilience of the Indian stock market at a time when several global economies continue to grapple with uncertainty. With banking and IT stocks leading from the front and buying interest spreading across sectors, Dalal Street delivered a strong vote of confidence in the country’s growth story.

As the earnings season gathers pace, investors will look for further confirmation that corporate India can sustain its growth momentum. For now, the nearly 900-point jump in the Sensex and the Nifty’s close above 24,250 have restored optimism, signalling that market participants remain confident about the long-term prospects of the Indian economy despite global headwinds.

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Technology

Apple introduces flexible device leasing

Apple has introduced a new way for customers to own its premium devices without paying the full price upfront. The tech giant has launched Apple Upgrade, a subscription-style leasing programme in the United States that allows customers to use the latest iPhone, iPad, Mac and Apple Watch by paying a fixed monthly fee.

The new programme reflects Apple’s growing focus on making its premium products more affordable while encouraging users to upgrade to newer devices more frequently. Rather than purchasing a device outright, customers can lease it for a specified period and later choose whether to return it, buy it, or upgrade to the latest model.

The service replaces Apple’s earlier iPhone-only financing programme with a broader offering that includes several of the company’s most popular devices. Apple Upgrade is available through Apple Stores, the Apple Store app and Apple’s official website across the United States.

The programme has been introduced in partnership with global payments and financial services company Klarna, which will handle financing approvals. Apple said customers can complete the application process online with a soft credit check, meaning it does not affect their credit score.

The lease duration varies depending on the product. Customers can lease iPhones and Apple Watches for 12 or 24 months, while iPads and Mac computers are available on 24- or 36-month plans. Monthly payments begin at $17.99 for an iPhone, $11.99 for an iPad or Apple Watch, and $24.99 for a Mac, making Apple’s premium hardware more accessible through smaller recurring payments.

At the end of the lease period, customers have three options. They can return the device without any further commitment, purchase it by paying its remaining value, or switch to a newer Apple device by starting a fresh lease. This flexible model gives users greater freedom to stay updated with Apple’s latest products without making a significant upfront investment.

Apple says customers can also trade in eligible older devices to reduce their monthly payments. Those using the Apple Card will continue to receive three per cent Daily Cash rewards on their monthly lease payments, adding another benefit for existing Apple users.

The launch marks a significant shift in Apple’s retail strategy. While the company has long offered instalment-based payment plans, Apple Upgrade introduces a leasing model similar to those commonly used for cars and other high-value products. Instead of focusing solely on ownership, the programme is designed around continuous access to the latest technology.

Industry experts believe the move could strengthen Apple’s upgrade cycle at a time when consumers are holding on to smartphones and laptops for longer than before. With device prices steadily increasing, many buyers have delayed replacing their gadgets. By lowering the initial financial burden, Apple hopes to encourage customers to upgrade more regularly and remain within its ecosystem.

The programme could also benefit Apple’s growing refurbished device business. Returned products from lease agreements can be refurbished and resold, extending the life of devices while supporting the company’s sustainability goals. Apple has increasingly highlighted its efforts to reduce electronic waste and promote a circular economy by reusing and recycling products wherever possible.

Existing members of Apple’s iPhone Upgrade Program will be able to transition to the new Apple Upgrade service. At the same time, Apple has discontinued its previous iPhone Payments financing option, making Apple Upgrade its primary hardware financing and leasing programme in the US market.

For customers, the biggest attraction is affordability. Premium Apple products often come with high price tags, making them difficult for many buyers to purchase outright. Monthly subscription payments spread the cost over a longer period, allowing users to access the latest technology without making a large one-time payment.

However, financial experts advise customers to understand the terms carefully before signing up. Leasing differs from buying a product through instalments because ownership is not automatic. Customers who decide to keep the device at the end of the lease will need to pay its remaining value, while those returning it may be charged if the product has damage beyond normal wear and tear.

The launch comes as competition in the premium technology market intensifies. Smartphone makers are increasingly exploring subscription and financing models to attract customers facing rising living costs and longer replacement cycles. Apple’s move is expected to put pressure on rivals to expand similar offerings for their own products.

Although Apple Upgrade is currently available only in the United States, industry observers believe the company could eventually expand the programme to other markets if customer response is positive.

With Apple Upgrade, the company is moving beyond simply selling devices and towards offering technology as an ongoing service. For consumers, it provides greater flexibility, predictable monthly costs and easier access to Apple’s latest innovations, while helping the company build stronger long-term relationships with its customers.

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1 Minute-Read

Centre clears polymer ₹10, ₹20 notes rollout

The Centre has authorised the Reserve Bank of India (RBI) to issue up to two billion polymer banknotes in the ₹10 and ₹20 denominations, paving the way for a pilot rollout of more durable currency.

The approval allows the RBI to issue one billion notes of each denomination. Unlike paper notes, polymer banknotes are made from flexible plastic, making them more resistant to wear, moisture and dirt while improving security features.

Existing paper notes will continue as legal tender, with polymer notes introduced gradually to reduce replacement costs and improve the lifespan of India’s most frequently used currency. For more quick updates on policy and economic developments, explore our 1-Minute Read section.

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Categories
Beyond

RBI cleared to issue polymer ₹10, ₹20 notes

The Centre has approved the Reserve Bank of India (RBI) to issue up to two billion polymer banknotes in the ₹10 and ₹20 denominations, marking a significant step in the country’s efforts to modernise currency and improve the durability of frequently used notes. The move is expected to reduce the cost of replacing worn-out notes while making everyday cash transactions more efficient.

According to a government notification, the RBI has been authorised to issue one billion ₹10 polymer notes and one billion ₹20 polymer notes under the provisions of the RBI Act. The approval clears the way for the central bank to introduce polymer currency on a pilot scale before considering wider adoption in the future.

Unlike traditional paper currency, polymer banknotes are made from a thin, flexible plastic film. They are more resistant to moisture, dirt and tearing, allowing them to remain in circulation much longer than conventional paper notes. This makes them particularly suitable for lower-denomination currency, which changes hands frequently and tends to wear out quickly.

Officials believe the new polymer banknotes will help reduce the recurring cost of printing replacement notes. Since ₹10 and ₹20 notes are among the most commonly used denominations in India, extending their lifespan could result in significant savings over time while improving the quality of currency in circulation.

The decision does not mean India is replacing all paper currency with plastic notes. Instead, the government and the RBI are adopting a gradual approach by introducing polymer notes only in selected denominations. Existing paper notes will continue to remain legal tender and circulate alongside the new polymer currency.

The RBI has been studying the use of polymer notes for several years. Many countries, including Australia, Canada, the United Kingdom, New Zealand and Singapore, have already switched to polymer currency for most or all of their banknotes. Their experience has shown that polymer notes generally last much longer, remain cleaner and offer better protection against counterfeiting.

Another key advantage of polymer banknotes is enhanced security. The material allows advanced security features such as transparent windows, complex holograms and improved printing techniques that are difficult to replicate. These features make counterfeit currency harder to produce and easier for the public to identify.

The notes are also expected to be more hygienic. Because polymer surfaces absorb less moisture and dirt than paper, they remain cleaner even after prolonged use. This is especially relevant in a country where currency notes pass through millions of hands every day.

The RBI is expected to finalise the design and production process before the new notes enter circulation. While the appearance may be similar to the existing ₹10 and ₹20 notes, the polymer versions are likely to incorporate updated security features and improved durability. The central bank has not yet announced a launch date.

Experts say introducing polymer currency is a practical step rather than a dramatic overhaul of India’s monetary system. By focusing first on low-value denominations, the RBI can assess how the notes perform under Indian climatic conditions, including high temperatures, humidity and heavy daily usage.

The move also aligns with India’s broader efforts to modernise its currency management system. Even though digital payments have grown rapidly in recent years, cash continues to play an important role in the economy, particularly in rural areas and small retail transactions. Ensuring that physical currency remains durable and secure is therefore still a priority.

Industry observers believe polymer notes could also reduce the environmental impact associated with frequent reprinting and disposal of damaged paper currency. Although polymer notes require specialised manufacturing, their longer lifespan means fewer notes need to be produced over time, potentially lowering overall resource consumption.

The approval comes as the RBI continues to strengthen currency security and improve cash management across the country. Alongside technological upgrades in banknote printing and counterfeit detection, the introduction of polymer notes reflects a long-term strategy to make India’s currency more resilient and cost-effective.

For the public, the transition is expected to be seamless. The new polymer ₹10 and ₹20 notes will be used just like existing banknotes and will remain interchangeable with paper currency. There will be no need to exchange existing notes, and all valid paper notes will continue to be accepted for transactions.

As the RBI prepares for the rollout, the initiative is being viewed as an important milestone in India’s currency evolution. If the pilot proves successful, polymer banknotes could gradually become a familiar part of everyday life, offering longer-lasting, cleaner and more secure currency while helping reduce the cost of managing cash across the country.

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Tata Power chooses Odisha for solar plant

Tata Power has chosen Odisha over Andhra Pradesh for setting up one of India’s largest integrated solar manufacturing facilities, marking a major boost for the state’s clean energy ambitions. The company will invest around ₹25,000 crore to establish a 10 GW solar ingot and wafer manufacturing plant, a project expected to strengthen India’s domestic solar supply chain and reduce dependence on imports.

Construction of the ambitious project is expected to begin in October 2026, with commercial production likely to commence in phases over the next few years. The investment is being seen as a significant milestone in India’s push to become self-reliant in solar manufacturing while supporting its renewable energy targets.

The upcoming facility will manufacture solar ingots and wafers, two of the most critical components used in producing solar cells and photovoltaic (PV) modules. At present, India imports a large share of these components, particularly from China. The new plant is expected to help bridge this gap by creating a robust domestic manufacturing ecosystem.

According to Tata Power, Odisha emerged as the preferred location after an extensive evaluation of multiple states, including Andhra Pradesh. Factors such as land availability, infrastructure, logistics, government support and access to industrial resources played an important role in the final decision.

The integrated facility will have an annual production capacity of 10 gigawatts (GW), making it one of the largest investments in India’s renewable energy manufacturing sector. By producing ingots and wafers within the country, Tata Power aims to support India’s growing solar industry while ensuring greater supply chain resilience.

The project is expected to generate thousands of direct and indirect employment opportunities during both the construction and operational phases. Local businesses, transport providers, engineering firms and ancillary industries are also likely to benefit as the manufacturing ecosystem develops around the plant.

For Odisha, securing the Tata Power investment represents another major achievement in attracting large-scale industrial projects. The state has been actively positioning itself as a destination for investments in green energy, advanced manufacturing and clean technologies. Officials believe the project will further strengthen Odisha’s reputation as an emerging renewable energy hub.

The investment also aligns with the Central government’s vision of building a self-reliant clean energy ecosystem under initiatives such as ‘Make in India’ and the Production Linked Incentive (PLI) scheme. By expanding domestic manufacturing capacity, India hopes to reduce import dependence, improve energy security and create globally competitive manufacturing capabilities.

Demand for solar equipment is expected to rise sharply as India works towards achieving its ambitious renewable energy goals. The country has committed to rapidly expanding solar power generation over the coming decades to meet growing electricity demand while reducing carbon emissions. Domestic manufacturing of critical components will play an essential role in supporting this transition.

Industry experts believe projects like Tata Power’s integrated solar manufacturing facility will help India become a stronger player in the global renewable energy supply chain. Manufacturing ingots and wafers locally can lower production costs, improve availability of raw materials and encourage further investment across the solar value chain.

The project also reflects a broader trend among Indian companies to invest in upstream solar manufacturing rather than relying solely on imported components. Developing capabilities across the entire solar value chain—from ingots and wafers to cells and modules—is considered crucial for long-term competitiveness and energy independence.

Apart from strengthening manufacturing, the facility is expected to encourage research, innovation and skill development in advanced solar technologies. As production scales up, specialised jobs in engineering, automation, quality control and renewable energy manufacturing are likely to increase, creating new opportunities for the local workforce.

For Tata Power, the investment reinforces its long-term commitment to India’s clean energy transition. The company has been expanding its presence across renewable power generation, solar rooftop solutions, electric vehicle charging infrastructure and green energy technologies. The new manufacturing facility adds another important dimension to its renewable energy portfolio.

The decision to locate the project in Odisha also highlights the increasing competition among states to attract investments in future-ready industries. While Andhra Pradesh was also under consideration, Odisha‘s industrial ecosystem and policy support ultimately tipped the balance in its favour.

As construction begins later this year, the project is expected to become a cornerstone of India’s solar manufacturing ambitions. Beyond producing critical solar components, the facility will help create jobs, strengthen domestic supply chains and support the country’s goal of building a globally competitive renewable energy sector. With one of the largest solar wafer and ingot plants on the horizon, Tata Power’s investment signals growing confidence in India’s clean energy future.