Industry News
Senior living market to reach $8 billion by 2030, ASLI-JLL report shows
Rising elderly population, policy push and investor interest to drive demand
 "Senior living market to reach $8 billion by 2030, ASLI-JLL report shows")
ICEA urges government to reduce GST on ACs and TVs from 28% to 18%
Indian Cellular and Electronics Association seeks GST cut on air conditioners and television sets to improve affordability, boost domestic sales and enhance India's competitiveness in global markets
 "ICEA urges government to reduce GST on ACs and TVs from 28% to 18%")
Telcos announce relief measures for customers in rain-hit and flood regions
Reliance Jio & Bharti Airtel extend prepaid validity, broadband benefits and postpaid bill grace for customers in Jammu & Kashmir, Ladakh and Himachal Pradesh while mobilising teams to restore network
 "Telcos announce relief measures for customers in rain-hit and flood regions")
India reaches out to 100 nations for ₹10 trillion shipping investment
According to a presentation made by the shipping ministry, 25 global CEOs and around 10 regional business leaders will meet the Prime Minister in October
 "India reaches out to 100 nations for ₹10 trillion shipping investment")
Mfg GVA grew 11.9% in 2023-24, shows Annual Survey of Industries data
The top ten industries accounted for 71 per cent of the manufacturing GVA in FY24, with a handful - basic metals, motor vehicles, chemicals, food products and pharmaceuticals - dominating
 "Mfg GVA grew 11.9% in 2023-24, shows Annual Survey of Industries data")
Sentient cofounder calls for viable and decentralised open-source AI
Tyagi is a professor at the Indian Institute of Science (IISc), Bengaluru, and cofounded $1.2 billion artificial intelligence (AI) startup Sentient
 "Sentient cofounder calls for viable and decentralised open-source AI")
Monsoon fury in North: Hospitality sector stares at revenue wipeout
Industry hopeful of revival, full festive season may not get impacted
 "Monsoon fury in North: Hospitality sector stares at revenue wipeout")
Weighed down by 50% US levy, Indian exporters recalibrate strategy
Vinod Kumar, president of the India SME Forum, said outreach to about 100,000 members has drawn 1,035 responses, with entrepreneurs already mapping ways to cope with the tariffs
 "Weighed down by 50% US levy, Indian exporters recalibrate strategy")
Apple ramps up India production as peak festival season approaches
Production ramps up, exports soar, and the US market takes 78% of shipments in the first half of 2025
 "Apple ramps up India production as peak festival season approaches")
Muted response from large lenders hinders ULI scale up, say bankers
Bankers say Unified Lending Interface growth remains muted as large lenders stick to legacy rails and land record digitisation lags
 "Muted response from large lenders hinders ULI scale up, say bankers")
India Ratings downgrades Spandana Sphoorty's debentures, loans to BBB+
Profitability under pressure due to high credit costs
 "India Ratings downgrades Spandana Sphoorty's debentures, loans to BBB+")
Cement prices rise sharply as fuel, gypsum costs continue to escalate
The all-India average cement price reached ₹360 per 50-kg bag in May 2025, about 8 per cent higher year-on-year after a steep decline the previous year
 "Cement prices rise sharply as fuel, gypsum costs continue to escalate")
Drop carbonated drinks from sin goods category: beverage industry to govt
Currently, aerated beverages are classified as sin/demerit goods, leading to 40 per cent taxation (28 per cent GST and an additional 12 per cent compensation cess).
 "Drop carbonated drinks from sin goods category: beverage industry to govt")
Sweets and namkeen makers ask for GST reduction to 5% citing jobs, margins
In its note, the federation said that these changes would reduce litigation, stabilise margins, boost employment and align with India's ambition of becoming a global food hub
 "Sweets and namkeen makers ask for GST reduction to 5% citing jobs, margins")
Beverage makers cite mass consumption, want 18% GST slab, no sin tax
According to IBA, the non-alcoholic beverage industry was valued at $ 49.6 billion in 2023 and is poised to grow to $ 64 billion by 2028, registering a CAGR that outpaces global averages
 "Beverage makers cite mass consumption, want 18% GST slab, no sin tax")
Steelmakers seek sevenfold rise in met coke import quota amid supply crunch
India, the world's second-largest crude steel producer, in June extended import curbs on low-ash metallurgical coke, a steelmaking raw material, for six months starting in July
 "Steelmakers seek sevenfold rise in met coke import quota amid supply crunch")
E-commerce GMV set to cross ₹1.15 trn, grow 20% in festive season: Redseer
The study attributes the momentum to a combination of factors like lower borrowing costs following repo rate cuts, pent-up demand, higher disposable incomes, and improved rural earnings
 "E-commerce GMV set to cross ₹1.15 trn, grow 20% in festive season: Redseer")
Commerce ministry holds talks with exporters to counter steep US tariffs
The steep 50 per cent tariff on Indian goods entering the United States, which came into effect from August 27, would impact exports worth more than $48 billion
 "Commerce ministry holds talks with exporters to counter steep US tariffs")
Govt cancels auction of 5 critical mineral blocks due to poor response
There were no bids for three blocks -- two glauconite mines in Gujarat and Chhattisgarh and one Nickel and PGE (Platinum Group Element) block in Karnataka
 "Govt cancels auction of 5 critical mineral blocks due to poor response")
GST authorities uncover Rs 104 cr tax evasion in illicit tobacco trade
According to the DRI data, seizures of smuggled cigarettes have witnessed a sharp spike between 2019-20 and 2023-24, rising by over 107 per cent in volume and more than 110 per cent in value
 "GST authorities uncover Rs 104 cr tax evasion in illicit tobacco trade")
