Author: Sreelatha M

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Technology

Apple’s 6th India store to open in Borivali on Feb 26

Apple Inc. will open its sixth official retail store in India on February 26, expanding its presence in one of its fastest-growing markets. The new outlet will be located in Borivali, a key residential and commercial hub in Mumbai.

The store will open at the Oberoi Sky City Mall, becoming Apple’s second retail outlet in Mumbai after its flagship store at Apple BKC. With this launch, Apple continues to deepen its physical retail footprint across major Indian cities.

India has become an increasingly important market for Apple, both in terms of sales and manufacturing. The company has steadily expanded its retail operations to provide customers with direct access to its full product lineup, including iPhone, iPad, Mac, Apple Watch and accessories.

The Borivali store will offer personalised services such as product setup, technical assistance at the Genius Bar, and Today at Apple sessions ,  free workshops designed to help customers explore photography, coding, creativity and more. Customers will also have access to Apple Trade In and pickup services.

Apple’s expansion strategy reflects its long-term commitment to India. By choosing Borivali, the company aims to serve customers in Mumbai’s western suburbs, making its products and services more accessible beyond central business districts.

Also Read: Uday Kotak takes charge as Chairman of GIFT City

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Leaders

Uday Kotak takes charge as Chairman of GIFT City

The Gujarat government has appointed Uday Suresh Kotak as the new Chairman of Gujarat International Finance Tec-City Company Limited, commonly known as GIFT City. The appointment takes immediate effect, according to a government resolution issued on February 13, 2026.

Kotak succeeds Hasmukh Adhia, who had been serving as the Non-Executive Chairman of GIFT City since June 2023. The state government’s move to bring in one of India’s most respected banking leaders is seen as an effort to further strengthen the city’s position as an international financial centre.

Uday Kotak is the founder of Kotak Mahindra Bank, one of India’s leading private sector banks. Over nearly four decades, he built the institution into a diversified financial services group covering banking, insurance, asset management, investment banking and stockbroking. He stepped down as Managing Director and CEO in 2023 and currently serves in a non-executive role at the bank.

GIFT City, located in Gandhinagar, Gujarat, is India’s first operational International Financial Services Centre (IFSC). It was developed to compete with global financial hubs such as Singapore and Dubai by offering tax incentives, regulatory benefits and world-class infrastructure to international businesses. The centre hosts banks, insurance firms, capital market entities and fintech companies operating in foreign currencies.

Recently, the central government extended tax benefits for businesses operating in GIFT City, further boosting its attractiveness for global investors. With over a thousand registered companies and growing international participation, the financial hub is a key part of India’s strategy to expand its presence in global financial markets.

Also Read: US trade deal to lift cotton demand, says Piyush Goyal

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Beyond

US trade deal to lift cotton demand, says Piyush Goyal

Union Commerce and Industry Minister Piyush Goyal has said that India’s interim trade agreement with the United States will increase cotton demand, support farmers, and create new employment opportunities, especially in technology sectors.

Speaking at the ET NOW Global Business Summit 2026, Goyal explained that the agreement will improve market access for Indian textiles in the US. With lower tariffs and favourable rules, garments made using US cotton or yarn and processed in India may enter the American market at competitive duty rates. This, he said, is expected to increase demand for cotton and benefit Indian farmers.

The minister clarified that sensitive agricultural products such as rice, wheat, maize, millets, dairy, and poultry have been kept out of the agreement to safeguard domestic interests. He emphasised that the government has ensured farmer protection while expanding export opportunities.

Goyal added that products like basmati rice, spices, tea, fruits, and marine goods could see better access to the US market, potentially improving incomes for farmers and exporters. He dismissed opposition criticism that the deal could harm agriculture, stating that the agreement has been carefully structured to balance growth and protection.

On the issue of artificial intelligence, Goyal said the AI revolution will not reduce employment but instead create new roles. He noted that India’s young and skilled workforce positions the country well to lead in emerging sectors such as data analytics, cybersecurity, and AI validation.

Also Read: India passport jumps 10 ranks

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Beyond

India passport jumps 10 ranks

India’s passport has climbed 10 places to rank 75th in the 2026 edition of the Henley & Partners Passport Index, marking a notable improvement in global mobility for Indian citizens.

The index ranks passports based on how many destinations holders can enter without securing a visa in advance. It counts visa-free access, visa-on-arrival, and certain electronic travel authorisations.

In 2026, Indian passport holders can travel to 56 destinations without prior visa approval. While this reflects improved global standing compared to last year’s 85th rank, the total number of visa-free destinations has slightly reduced from 57 in 2025.

The dip follows changes in entry rules by two countries.

Iran ended its visa-free entry for ordinary Indian passport holders in late 2025. Travellers must now obtain a visa before departure, removing Iran from India’s visa-free list under the index criteria.

Similarly, Bolivia replaced its visa-on-arrival facility for Indians with a pre-approved e-visa system. Since travellers must apply before flying, Bolivia no longer qualifies as visa-free access in the ranking methodology.

Experts point out that passport rankings are relative. India’s rise reflects not only its own travel access but also changes in other countries’ standings.

Despite the improvement, India remains far below the world’s most powerful passports, such as Singapore, which offers visa-free entry to nearly 200 destinations.

The latest ranking signals gradual progress in India’s international travel access. However, further diplomatic efforts and bilateral agreements will be essential to expand visa-free opportunities for Indian travellers in the future.

Also Read: Tamil Nadu, KLA sign ₹3,600 cr R&D MoU in Chennai

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Beyond

Reliance gets US permit to import Venezuelan oil

Reliance Industries has received permission from the United States to import oil from Venezuela. This is a significant change because strict US sanctions had previously made it very hard for companies to trade with Venezuela’s oil industry.

The licence was issued by the US Treasury Department’s Office of Foreign Assets Control (OFAC). It gives Reliance the legal right to buy, bring into India, and sell Venezuelan crude oil without breaking US rules. This approval comes after the US government relaxed some of its sanctions on Venezuelan oil exports following political changes in that country.

Reliance had stopped buying Venezuelan oil in 2025 because of the sanctions. Now, with this new permit, it can resume these imports. Venezuelan crude is known for being heavy and usually cheaper than many other types of oil. Buying it at a lower price could help Reliance reduce its fuel costs and improve profits at its large refineries, especially the massive Jamnagar complex in western India.

The move is also part of a broader shift in US policy. Washington has eased restrictions on Venezuela’s energy sector, allowing not just Reliance but also major global oil companies to operate more freely there. Firms such as Chevron, BP, and Shell are expected to expand their involvement in Venezuela after the sanctions were loosened.

Besides helping Reliance, the licence may benefit Venezuela by boosting its oil exports and revenues. For the United States, allowing more companies to trade with Venezuela could strengthen economic ties with countries that purchase Venezuelan oil.

Also Read: IndiGo to hire over 1,000 pilots

Categories
Corporate

IndiGo to hire over 1,000 pilots

India’s largest airline, IndiGo, has announced plans to hire more than 1,000 pilots after facing a major crew shortage in December last year.

In December 2025, the airline had to cancel thousands of flights within a week after new pilot duty and rest rules came into force. The stricter regulations reduced the number of hours pilots could fly, leading to an unexpected shortage of available crew. Many passengers were affected as flights were delayed or cancelled.

Following the disruption, the Directorate General of Civil Aviation (DGCA) reviewed the situation. The regulator found that IndiGo had not fully prepared for the impact of the new rules. The airline’s tight scheduling and limited standby crew left little room to manage sudden changes.

To prevent such issues in the future, IndiGo has decided to significantly increase its pilot strength. The hiring drive will include trainee first officers, experienced first officers, and captains. The airline is also accepting applications from pilots who may not yet have experience flying its Airbus A320 aircraft, expanding the pool of eligible candidates.

In addition to hiring, IndiGo has made changes to its operations. It has increased the number of standby pilots and added extra buffer time to its flight schedules. These steps are meant to ensure smoother operations even if unexpected challenges arise.

Pilot training takes time. New trainee pilots may need several months before they are ready to operate regular flights. At the same time, IndiGo continues to add new aircraft to its fleet, increasing the demand for trained cockpit crew.

Also Read: Indian Hotels reports ₹954 cr Q3 profit, ₹2,842 cr revenue

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1 Minute-Read

Madras HC upholds ‘Big Bite’ trademark for Ravi Foods

The Madras High Court has upheld Hyderabad-based Ravi Foods’ trademark for “Big Bite”, rejecting appeals by US retailer 7‑Eleven.

The dispute, lasting over a decade, involved Class 30 food products, including chocolates and snacks. Ravi Foods has used the brand in India since 2004, building strong goodwill and consumer recognition. 7‑Eleven argued its international use since 1988 gave it rights, but the court ruled global reputation alone doesn’t secure Indian trademark rights without actual local presence or sales.

The judgment reinforces that trademark protection in India is based on use and recognition within the country, not just international status.

Categories
Corporate

Sensex falls 1,048 points, Nifty dips below 25,500

The markets ended sharply lower on Friday, with benchmark indices seeing broad-based selling. The BSE Sensex tumbled 1,048 points to 82,627, while the Nifty 50 dropped below 25,500 to close at 25,471.

Major losers included Hindustan Unilever, Eternal, Tata Steel, Titan, Adani Ports, Reliance, Infosys, TCS, HCL Tech, and Wipro, which fell up to 4–5%. On the other hand, select pharma and FMCG stocks saw gains, partially cushioning the market decline.

Investors cited weak global cues, pressure on IT and metal stocks, and cautious sentiment in overseas markets as reasons for the fall. The drop erased substantial market capitalization, reflecting investor risk aversion amid volatile conditions.

The Indian rupee ended slightly lower against the dollar, while commodities had mixed movements during the session. Market participants continue to watch global trends and sector-specific earnings for guidance in the coming weeks.

Also Read: India’s January retail inflation at 2.75%

Categories
Corporate

Muthoot Q3 profit jumps 95%, stock slides 10%

Muthoot Finance reported a strong set of numbers for the third quarter of FY26, with net profit rising about 95% year-on-year to nearly ₹2,650 crore. The jump in earnings was driven by sharp growth in its gold loan business and higher interest income.

The company’s gold loan assets under management (AUM) rose significantly compared to last year, supported by high gold prices and steady demand for secured loans. Total income also grew strongly, reflecting expansion in its core lending operations. Management has indicated healthy growth momentum and expects gold loan expansion to remain strong for the rest of the financial year.

However, despite the robust earnings, the stock saw selling pressure and fell around 10% after the results. Investors appeared cautious about certain underlying trends. Analysts pointed out that while the value of gold loans increased due to higher gold prices, the actual volume of gold pledged (in tonnage terms) showed some moderation sequentially. There were also concerns about whether such high profit growth can be sustained in coming quarters.

Brokerages remain largely positive on the company’s long-term prospects. They cite its strong franchise in the gold loan segment, improving margins, and disciplined cost management as key strengths.

Also Read: Hindalco Q3 profit slumps 45% on one-time hit

Categories
Technology

Global tech leaders gather for India AI Summit

India is set to host one of its biggest technology events yet — the India AI Impact Summit 2026,  in New Delhi from February 16 to 20. The summit is attracting some of the most powerful names in the global artificial intelligence industry, highlighting India’s growing importance in the AI world.

Top leaders expected to attend include Google CEO Sundar Pichai, OpenAI CEO Sam Altman, Anthropic CEO Dario Amodei, Nvidia CEO Jensen Huang, DeepMind’s Demis Hassabis, and senior executives from Microsoft and Meta. French President Emmanuel Macron is also likely to be present. Prime Minister Narendra Modi will deliver a keynote address during the event.

The summit will take place at Bharat Mandapam and is being described as one of the largest AI gatherings hosted in the Global South. The event will bring together policymakers, industry leaders, researchers, startups and students to discuss how AI can be used responsibly and effectively.

The focus of the summit is not just technology, but also business and real-world impact. India is seen as a major growth market for AI. It produces a huge amount of global data and has one of the world’s largest pools of skilled tech talent. For global companies, this represents strong business potential.

The event will include panel discussions, exhibitions, and AI competitions. Organisers have planned special programs to encourage youth and women innovators, with prize money for winning ideas. Topics will cover AI safety, economic growth, sustainability, healthcare, agriculture and education.

India wants to position itself as a key player in shaping global AI policies and innovation. By hosting such a large summit, the country aims to show that it is ready to lead conversations around responsible AI development while also creating business opportunities.

Also Read: Two xAI co-founders step down