Connect with us
Friday,31-July-2026
Breaking News

Business

India, Japan can diversify trade basket, open new frontiers with renewed efforts: PM Modi

Published

on

Tokyo, Aug 29: Hailing the robust India-Japan economic and trade partnership, Prime Minister Narendra Modi on Friday said with renewed efforts, both nations can diversify their trade basket, make it more balanced, and open up new frontiers as well.

In an interview with Japanese newspaper The Yomiuri Shimbun, the Prime Minister said we must aim bigger and remain ambitious.

“The synergies across governments, businesses and people can create scale and speed in our economic partnership. As the world’s leading economies, we have been contributing to each other’s growth, competitiveness and dynamism,” PM Modi told the publication.

Japan has been a trusted partner in India’s infrastructure development across generations. The country has also been a leading source of foreign direct investment (FDI) for India in key sectors, including automobiles, electronics, telecom, chemicals, finance, and pharmaceuticals.

According to PM Modi, the number of Japanese firms in India has grown steadily to around 1,500, while more than 400 Indian companies operate in Japan.

“Clearly, this is only the beginning — the real potential is much higher,” he noted.

“We maintain important trade relations, but it has not yet reached the levels envisaged under our CEPA (Comprehensive Economic Partnership Agreement)… The 20th century saw Japan emerge as a major partner in India’s infrastructure development. I am confident that the 21st century will see Japan as a major partner in India’s innovation, manufacturing, and global value chains,” the Prime Minister emphasised.

On semiconductors, PM Modi told the publication that India’s semiconductor sector is on the cusp of transformation.

“We have put in place a comprehensive regulatory and policy framework, backed by incentives, to build a strong semiconductor and display ecosystem. Already, six semiconductor units are taking root in India, with four more on the way. By the end of this very year, ‘Made in India’ chips will be in the market, a clear demonstration of India’s design and manufacturing capabilities,” the Prime Minister said.

Japanese companies, with their technological strengths and global leadership, can play a pivotal role in this journey, he said, adding that a strong beginning has already been made.

“By combining India’s scale and capabilities with Japan’s advanced technologies, we can build a resilient and trusted semiconductor value chain,” PM Modi stressed, adding that this collaboration will support the technological ambitions of both our countries and enhance global supply chain security.

“I see semiconductor cooperation emerging as a major pillar of the India–Japan partnership. After all, in this digital century, chips are not just about computers, they are about competitiveness, credibility and confidence in the future,” he mentioned.

Some Japanese companies are positioning their production bases in India as hubs for third-country markets such as Africa.

According to PM Modi, India has seen multi-faceted reforms which make manufacturing in India easier than ever before.

“We have removed compliance burdens, rolled out incentives and ensured a large skilled workforce for companies to set base in India. Many global companies, including those from Japan, are setting up their production in India not only to cater to our domestic market, but also for the world,” he highlighted in his response.

Japanese automaker Suzuki Motor Corporation this week announced it will invest Rs 70,000 crore in India over the next five to six years. The investment will be used to increase production, introduce new car models, and protect its leadership position in the world’s third-largest automobile market.

“Just a couple of days back, I was at the Suzuki plant in India where we flagged off electric vehicles to be exported to a hundred countries, including Japan,” said PM Modi.

Business

Indian Railways launches online excess luggage booking with ticket reservations

Published

on

New Delhi, July 31: Passengers travelling by train can now book and pay for excess luggage online while reserving their tickets, as Indian Railways on Friday rolled out a new digital facility aimed at making the travel process more convenient.

The service integrates excess luggage booking with the online ticket reservation system, eliminating the need for passengers to visit parcel offices separately before boarding.

Previously, travellers carrying baggage beyond the free allowance had to complete a separate booking process at railway parcel counters, often leading to additional paperwork and long queues.

The online excess luggage booking facility is available only to passengers holding confirmed tickets and is restricted to travel classes where carrying luggage beyond the free allowance is permitted upon payment of the prescribed charges.

Passengers travelling in AC First Class, AC 2-Tier, First Class, Sleeper Class and Second Class can avail of the service.

However, those travelling in AC 3-Tier and AC Chair Car will not be eligible, as the maximum permissible baggage limit in these classes is the same as the free luggage allowance.

Under the existing baggage rules, AC First Class passengers are entitled to carry up to 70 kg free of charge and can carry a maximum of 150 kg after paying excess luggage charges.

Passengers in AC 2-Tier and First Class are allowed 50 kg free, with a maximum permissible limit of 100 kg.

Sleeper Class passengers can carry 40 kg free and up to 80 kg in total, while Second Class passengers have a free allowance of 35 kg and a maximum limit of 70 kg.

In contrast, AC 3-Tier and AC Chair Car passengers can carry up to 40 kg, which also serves as the maximum permissible limit.

Indian Railways has clarified that passengers carrying baggage beyond the free allowance but within the prescribed maximum limits will be required to pay applicable excess luggage charges.

Apart from weight restrictions, the Railways also enforces size limits for luggage carried inside passenger coaches.

Trunks, suitcases and boxes measuring up to 100 cm × 60 cm × 25 cm are generally permitted inside compartments.

However, passengers travelling in AC 3-Tier and AC Chair Car coaches must adhere to a smaller size limit of 55 cm × 45 cm × 22.5 cm.

Continue Reading

Business

IBM partners Sarvam to strengthen India’s sovereign AI ecosystem

Published

on

New Delhi, July 31: IBM and homegrown AI startup Sarvam have partnered to accelerate the development and adoption of sovereign artificial intelligence (AI) technologies in India, with a focus on government agencies, public sector organisations and regulated enterprises, according to a statement on Friday.

Under the partnership, the two companies will jointly demonstrate and pilot sovereign AI technologies for use cases such as citizen services, grievance redressal, document processing and administrative workflows.

The collaboration combines IBM Sovereign Core, the company’s sovereign-by-design AI software platform, with Sarvam’s India-first sovereign AI stack, which includes reasoning models and multilingual language and voice AI developed and trained in India.

The combined offering is designed to help organisations deploy AI while maintaining greater control over data, governance, security and compliance in line with India’s regulatory and operational requirements.

In addition, the initiative aims to accelerate sovereign AI adoption through innovation pilots, solution accelerators, technical advisory services and knowledge-sharing programmes.

The IBM GovTech AI Innovation Center in Lucknow will serve as a joint incubation and demonstration hub where government departments, public sector organisations and enterprises can evaluate practical sovereign AI applications and address technical, operational and governance requirements before scaling deployments.

“Sovereign AI is not simply about where AI runs. It is about giving organisations control over how AI is governed, deployed and operated,” said Sriram Raghavan, General Manager, IBM Software, India and Software Innovation Lab.

He said IBM Sovereign Core provides an enterprise-grade platform designed to help governments and regulated enterprises scale AI while addressing governance, security and compliance requirements.

Pratyush Kumar, Co-Founder of Sarvam, said sovereign AI must work within the systems governments and enterprises already rely on while supporting large-scale operations.

“Our stack puts models, voice and language technologies on top of it, so a citizen can access a benefit or resolve a grievance in their own language, on a phone call,” Kumar said.

Continue Reading

Business

Markets open subdued as IT, pharma stocks offset banking weakness

Published

on

Mumbai, July 30: Domestic equity benchmarks opened on a subdued note on Thursday amid mixed global cues, as gains in information technology and pharma stocks were offset by weakness in banking and realty shares.

Sensex opened at 77,638.86, down 15.74 points or 0.02 per cent, while Nifty opened at 24,249.55, lower by 0.65 points.

Among the sectoral indices, Nifty IT was the top gainer, rising 1.39 per cent, followed by Nifty Pharma, Nifty Healthcare, Nifty MidSmall IT & Telecom, and Nifty Auto, which gained up to 0.54 per cent.

In contrast, Nifty Realty declined 0.80 per cent, followed by Nifty Chemicals, which was down 0.45 per cent, while Nifty Private Bank fell 0.42 per cent.

According to market experts, the Indian market continues to indicate a potential breakout trend, although several global headwinds are limiting the upside momentum.

“The spike in Brent crude prices to near $90 following the escalation of the US-Iran conflict is a strong headwind for markets,” they said.

Experts noted that the US Federal Reserve’s decision to keep interest rates unchanged, though widely expected, turned out to be negative for equities as the decision was split 9-3, with three members voting for a rate hike to curb inflation.

However, they believe the Indian market could remain relatively resilient.

Weakness in global chip stocks has prompted foreign portfolio investors (FPIs) to shift allocations, with FPIs turning net buyers in Indian equities so far in July.

Brent crude — the international oil benchmark — declined 1.75 per cent to $89.15 per barrel, while US West Texas Intermediate (WTI) crude fell 1.47 per cent to $83.21 per barrel.

Asian stocks traded mixed. Major indices such as the Nikkei, Hang Seng, and KOSPI were up 0.72 per cent, down 0.02 per cent, and lower by 0.57 per cent, respectively.

US stocks ended lower, with the S&P 500 declining 1.52 per cent, while the Nasdaq ended down 1.74 per cent.

Continue Reading

Trending