Business
FedEx to invest Rs 2,500 crore for fully automated cargo hub at Navi Mumbai airport
Navi Mumbai, Feb 18: Express transportation company FedEx announced on Wednesday that it will invest over Rs 2,500 crore in setting up a fully automated cargo hub at Navi Mumbai International Airport in partnership with the Adani Group.
“The Rs 2,500 crore long-term investment by FedEx will support the proposed 300,000 sq. ft. facility, designed as a regional consolidation and redistribution hub and developed in partnership with Adani Airport Holdings Ltd. (AAHL),” according to a FedEx statement.
The hub leverages the NMIA’s multimodal infrastructure to strengthen Western India’s international trade corridor. Once operational, the hub is expected to create more than 6,000 direct and indirect employment opportunities across logistics, warehousing, transportation and allied services, the statement said.
The ground-breaking ceremony for the facility was held at the cargo terminal site of the Navi Mumbai International Airport in the presence of Maharashtra Chief Minister Devendra Fadnavis, AAHL Director Jeet Adani, FedEx President and CEO Raj Subramaniam, and FedEx CEO, Airline and COO, International, Richard Smith.
In his remarks on the occasion, Jeet Adani said: “This development reflects NMIA’s long-term vision of building integrated infrastructure that strengthens India’s trade competitiveness. With its proximity to Jawaharlal Nehru Port, industrial corridors and multimodal transport networks, NMIA is uniquely positioned to support high-growth export sectors and enhance Maharashtra’s role as a global logistics gateway.”
FedEx MEISA President Kami Viswanathan said: “India’s competitiveness in global trade will increasingly depend on the reliability and speed of its logistics infrastructure. Establishing this hub at NMIA allows us to integrate global network strength with India’s fastest-growing trade corridor, providing greater certainty, speed and efficiency to customers.”
The development will support trade flows across Southeast Asia, West Asia, Europe, and the United States, embedding global network connectivity directly within India’s primary trade corridor. Equipped with advanced automated sorting systems, dimensional scanning, high-speed screening technology and dedicated aircraft parking bays, it will enable simultaneous processing of inbound and outbound shipments and enhance routing flexibility and transit time predictability, particularly for high-value and time-sensitive sectors such as electronics, engineering goods, pharmaceuticals and perishables. The improved reliability is also expected to strengthen export-import capabilities for micro, small and medium enterprises (MSMEs) while contributing to lower logistics costs and faster turnaround times, the company statement said.
The NMIA’s cargo infrastructure is planned to commence with an initial handling capacity of approximately 0.5 million metric tonnes (MMT) annually, scaling in phases to around 3.25 MMT in its final development stage. This calibrated capacity expansion supports the airport’s long-term strategy of positioning the Mumbai Metropolitan Region (MMR) as one of India’s most advanced air freight and logistics gateways.
Building on nearly three decades of operations in India, the hub expands FedEx’s dedicated presence while supporting NMIA’s role as an integrated aviation and multimodal trade platform in global supply chains, the statement added.
Business
PM Modi to kick off Bharat Renewable Energy Summit & Expo 2026 on Nov 2

Prime Minister Narendra Modi will inaugurate Bharat Renewable Energy Summit & Expo (BRESE) 2026 on 2nd November, which will bring together participants from over 130 countries, including global leaders, investors, industry and innovators, at Bharat Mandapam here.
Australia, Denmark, the European Union, France, Germany, Netherlands, Norway, Sweden and the United Kingdom will participate as country partners.
Secretary, Ministry of New and Renewable Energy, Santosh Sarangi, on Wednesday said, “India’s clean energy transition is entering a decisive phase. With 308 GW of installed non-fossil fuel capacity, we are firmly on course to reach our 500 GW target by 2030. Realising this ambition will require approximately USD 220 billion in investment between 2027 and 2030, alongside accelerated deployment of energy storage, stronger transmission networks and expanded domestic manufacturing capabilities.”
He told journalists that the Bharat Renewable Energy Summit & Expo 2026 will provide a vital platform to connect global capital, technology and industry expertise with India’s growing clean energy opportunities, translating investment potential into projects, partnerships and progress.
The four-day event, themed ‘Invest. Innovate. Inspire’, will be organised alongside the 9th Session of the International Solar Alliance (ISA) Assembly and the 4th International Conference on Green Hydrogen (ICGH).
The three events will provide a common platform for discussions on renewable energy investment, international cooperation, emerging technologies and clean energy deployment.
Delegations from several countries are also expected to attend the Summit to explore cooperation opportunities in renewable energy financing, green hydrogen, energy storage, clean energy manufacturing, and technology development.
Thirteen States and Union Territories will participate in the Summit, including Andhra Pradesh, Assam, Bihar, Chhattisgarh, Delhi, Gujarat, Karnataka, Madhya Pradesh, Maharashtra, Odisha, Rajasthan, Uttar Pradesh and West Bengal, showcasing their renewable energy potential, investment opportunities and manufacturing capabilities. Other participating states will also highlight opportunities for renewable energy development and investment.
India ranks third globally in renewable energy and solar installed capacity and fourth in wind power capacity, as it advances towards its target of 500 GW by 2030. India invested USD 63.7 billion in its renewable energy sector during July 2024–June 2026, as per BloombergNEF.
Building on this momentum, the Summit will bring together global policymakers, investors, industry leaders and innovators to strengthen international cooperation, mobilise investment and accelerate renewable energy deployment, particularly across emerging economies and the Global South.
The four-day conference will feature high-level plenaries, ministerial discussions, CEO roundtables, and country and state sessions focused on financing, policy, technology, and skilling.
Discussions will cover clean energy investment, emerging technologies, manufacturing, energy storage, and workforce development, with an emphasis on technology exchange, scalable solutions, and greater participation and leadership by women in the global energy transition.
Business
Adani Enterprises’ Q2 revenue jumps 74 pc to Rs 38,023 crore; EBITDA rises 62 pc

Adani Enterprises Limited (AEL), the flagship company of the Adani Group, on Wednesday reported a strong financial performance for the second quarter of FY27, with consolidated revenue surging 74 per cent year-on-year (YoY) to Rs 38,023 crore.
EBITDA increased 62 per cent year-on-year to Rs 6,316 crore, while continuing profit before tax (PBT) surged 146 per cent to Rs 2,002 crore, according to its stock exchange filing.
Adani Group Chairman Gautam Adani said that the company’s strong earnings growth reflected the maturity of investments made over the past several years and the ability of multiple businesses to achieve scale.
“We live in an age of such intense disruption that the scale of our ambitions must continuously grow. What Adani Enterprises has become very effective at is turning increasingly large and complex commitments into execution at scale across our businesses,” Gautam Adani stated.
“Our investments in integrated energy, airports and AI ecosystems are recent examples. Perhaps, the strongest validation of our execution capabilities is the trust domestic and global investors continue to place in us, choosing to partner with us even amid extreme volatility,” the Adani Group Chairman noted.
For the first half of FY27, consolidated revenue rose 62 per cent to Rs 71,569 crore, while EBITDA climbed 56 per cent to Rs 11,958 crore.
Continuing PBT during the six-month period grew 45 per cent to Rs 3,297 crore. AEL said earnings were supported by the rapid ramp-up of its copper business, which contributed EBITDA of Rs 2,033 crore during the first half of the financial year.
The copper plant continued to scale up production, with sales volumes increasing 5.2 times year-on-year in H1 FY27.
The company also recorded progress across its emerging businesses. Adani New Industries Limited (ANIL) expanded its solar module manufacturing capacity to 10 GW after commissioning a 4.3 GW ‘TopCon’ module line in September 2026.
In the digital infrastructure segment, ‘AdaniConnex’ secured a new hyperscale order of 240 MW for its Navi Mumbai data centre.
AEL’s financial profile also received a boost during the quarter after CARE Ratings upgraded its long-term credit rating to AA with a ‘Stable’ outlook, the highest credit rating achieved by the company in its history.
Business
Do not close shop of love in market of Diwali: CTI to Rahul on Nov 1 rally issue, seeks 20-minute meet with 20 traders

The Chamber of Trade and Industry (CTI), an apex organisation representing traders and entrepreneurs in Delhi, on Wednesday wrote an open letter to the Leader of Opposition in the Lok Sabha, Rahul Gandhi, seeking a 20-minute meeting with him to discuss the Congress-led INDIA bloc’s November 1 rally at Ramlila Maidan.
In the letter, CTI Chairman Brijesh Goyal made a proposal involving 20 representatives from 20 major wholesale markets located near Ramlila Maidan, asking Rahul Gandhi to spare 20 minutes for a discussion on the potential impact of the rally on business activities in the national capital.
The CTI has proposed that if Rahul Gandhi can convince the traders during the meeting that the proposed mega rally, expected to draw one million people, would boost business and expand their customer base, the organisation would immediately withdraw its opposition and welcome the event.
However, if the traders convince Rahul Gandhi that the rally would adversely affect business in the 20 major markets surrounding Ramlila Maidan, he should postpone it until after Diwali in the public interest.
“We want dialogue, not a fight,” Goyal said.
He added that Rahul Gandhi often speaks about listening to everyone, including small traders, and that the proposed meeting would provide an opportunity to hear their concerns.
“Rahul Gandhi himself says that he listens to everyone and hears the voices of small traders. So, we, the traders from 20 markets, are asking him for 20 minutes. This would be the beauty of democracy,” Goyal said.
According to the CTI, the 20 markets fall within a radius of one to five kilometres of Ramlila Maidan and could face disruptions on the day of the rally.
The markets include Chandni Chowk, Bhagirath Palace, Khari Baoli, Sadar Bazaar, Chawri Bazaar, Kashmere Gate, Nabi Karim, Karol Bagh, Ajmeri Gate, Daryaganj, Nai Sadak, Kinari Bazaar, Dariba Kalan, Fatehpuri, Naya Bazaar, Filmistan, Paharganj, Gaffar Market, Jama Masjid-Meena Bazaar and Lajpat Rai Market.
These markets represent a wide range of businesses, including wholesale electronics, electrical goods, spices, dry fruits, garments, jewellery, books, stationery, machinery, auto parts, furniture, timber, mobile phones, crockery and grocery items.
The CTI said the rally could affect traders’ business operations due to the anticipated crowd, traffic restrictions and possible diversions in the surrounding areas.
In its letter, the organisation also referred to Rahul Gandhi’s message of promoting love and harmony, saying traders respected his efforts but were concerned about the potential impact of the rally during the festive season.
“Rahul ji, you open a shop of love in the market of hatred, we respect you, but do not close the shop of love in the market of Diwali. We are the traders who are the true face of your shop of love,” the letter stated.
The CTI expressed hope that Rahul Gandhi would accept its request for a 20-minute meeting to discuss the November 1 rally and its possible consequences for traders in Delhi’s major commercial hubs.
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