Mumbai, Dec 12: Indian stock markets gained for the second straight session on Friday, supported by a strong global rally and heavy buying in metal stocks.

Sentiment also improved after Prime Minister Narendra Modi spoke with US President Donald Trump on Thursday to discuss strengthening economic ties, as both countries continue working toward a trade agreement.

At the closing bell, the Sensex had risen 449.53 points, or 0.53 per cent, to 85,267.66.

The Nifty also moved higher, adding 148.40 points, or 0.57 per cent, to trade at 26,046.95.

“In the near term, the trend is likely to remain constructive as long as the index holds above 25,900, which is expected to serve as a key support level,” experts said.

“On the higher side, the index may move towards 26,300 in the short term,” they added.

Several major stocks led the gains on the Nifty, including Tata Steel, Eternal, UltraTech Cement, L&T, Maruti Suzuki, Bharti Airtel, Adani Ports, Axis Bank and Bajaj Finance.

However, some stocks came under pressure due to profit booking. HUL, Sun Pharma, Asian Paints, ITC, Power Grid and HCL Tech were among the top losers.

In the broader markets, the Nifty MidCap index rose 1.18 per cent, while the Nifty SmallCap index advanced 0.94 per cent.

Sector-wise, the Nifty Metal index led the rally with a jump of 2.63 per cent, followed by realty, consumer durables and oil and gas. The FMCG and media sectors slipped into the red.

Meanwhile, silver prices in India continued their sharp upward trend. Silver futures crossed the historic Rs 2 lakh per kg mark for the first time on Friday, extending a rally that has pushed the metal up nearly 130 per cent so far this year.

Experts said that the combined boost from global cues, strong sectoral performance and improving geopolitical engagement helped the markets end the week on a positive note.

New Delhi, Dec 12: The production-linked incentive (PLI) scheme for food processing industries (PLISFPI) has generated about 3.39 lakh direct and indirect employment opportunities so far, the Parliament was informed on Friday.

Minister of State for Food Processing Industries, Ravneet Singh, said that 170 applications have been approved under various categories of the PLISFPI till September 2025.

“The scheme has led to an increase in food processing capacity of 35.00 lakh MT per annum in the Country,” the minister told the Rajya Sabha in a written reply to a question.

The incentives under the PLISFPI are admissible where the entire chain of manufacturing processes, including primary processing, of the food products applied for coverage under the scheme takes place in India.

According to the minister, total export of agricultural processed food products approved under the PLISFPI has increased with a CAGR of 13.23 per cent as on 2024-25 with reference to 2019-20.

Under the PLISFPI, a cumulative investment of Rs 9,207 crore has been made by the approved applicants, the Parliament was informed earlier. Also, 25 mega food parks approved by the ministry are currently operational across the country, Union Food Processing Industries Minister Chirag Paswan told the Lok Sabha in a reply.

The Ministry of Food Processing Industries (MoFPI) is also implementing a centrally sponsored PM Formalisation of Micro food processing Enterprises (PMFME) scheme for providing financial, technical and business support for setting up/upgradation of micro food processing enterprises in the country. The scheme primarily adopts the One District One Product (ODOP) approach aimed at fostering balanced regional development across all districts of the country.

The initiative aims to select, brand, and promote at least One Product from each District (One District One Product) of the country for enabling holistic socio-economic growth across all regions, he added. Under the ODOP initiative, products have been selected by states/UTs by taking into consideration the existing ecosystem on the ground in the districts. ODOP have been approved for 726 districts across 35 states/UTs under the scheme.

New Delhi, Dec 12: India’s aviation regulator, the Directorate General of Civil Aviation (DGCA) has dismissed four flight inspectors who were responsible for monitoring the safety and operational standards of IndiGo.

The action comes amid a deepening crisis at the airline, which has cancelled thousands of flights this month due to poor planning and failure to meet stricter safety norms.

The cancellations have left tens of thousands of passengers stranded across the country. IndiGo CEO Pieter Elbers has again been summoned by the DGCA and will appear before the officials again on Friday.

According to sources, the DGCA acted against the inspectors after finding negligence in their inspection and monitoring duties.

The regulator has now deployed two special oversight teams at IndiGo’s Gurugram office to closely track the airline’s operations.

These teams will submit a daily report to the DGCA by 6 p.m. One team is monitoring IndiGo’s fleet strength, pilot availability, crew utilisation hours, training schedules, split-duty patterns, unplanned leave, standby crew, and the number of flights affected due to crew shortage.

It is also reviewing the airline’s average stage length and network to understand the full scale of the operational disruption.

The second team is focusing on the impact of the crisis on passengers. This includes checking the status of refunds from both the airline and travel agents, compensation offered under Civil Aviation Requirements (CAR), on-time performance, baggage return, and the overall cancellation status.

IndiGo has been ordered to reduce its operations by 10 per cent to stabilise its schedules and control further disruptions.

The airline usually operates around 2,200 flights per day, which means more than 200 flights will now be cancelled daily.

Civil Aviation Minister Ram Mohan Naidu said passengers had suffered “severe inconvenience” because of IndiGo’s mismanagement of crew rosters, flight timings, and communication.

After a meeting with IndiGo CEO Elbers, the minister said the airline must follow all ministry directives, including fare caps and measures to support affected passengers.

As the DGCA probe continues and IndiGo’s CEO has been summoned for further explanations, the airline has announced compensation for travellers who faced extreme delays between December 3 and 5.