Business Industry

Foxconn to Double iPhone Production in India, Boosting Apple’s Manufacturing Presence

By BPN News Desk March 31, 2025

Apple is significantly scaling up its manufacturing operations in India, with Foxconn, its key supplier, planning to produce between 25 to 30 million iPhones in the country this year. This marks a dramatic increase from the 12 million units produced last year, reflecting Apple’s growing commitment to India as a key manufacturing base. Foxconn India […]

Business Industry

German Chemical Firm to Invest $1.5 Billion in India

By BPN News Desk March 31, 2025

A leading German company from the chemical sector is set to invest $1.5 billion in India, Union Commerce and Industry Minister Piyush Goyal announced during the Kautilya Economic Conclave held in Delhi. While the name of the company has not been officially disclosed, the minister confirmed that the agreement has already been signed and that […]

Business Finance

Maharashtra Cooperative Banks Struggle with ₹101 Crore in Demonetised Currency

By BPN News Desk March 31, 2025

Eight district central cooperative banks (DCCBs) in Maharashtra are currently holding approximately ₹101.2 crore in demonetised ₹500 currency notes, a predicament persisting for over eight years. The Kolhapur DCCB holds the largest portion, amounting to ₹25.3 crore, followed by the Pune DCCB with ₹22.2 crore.​ Challenges in Safekeeping Demonetised Notes These banks face

Finance

Centre Advises States, Ministries Against Direct Engagement with International Financial Institutions

By BPN News Desk March 31, 2025

Centre directs states and ministries to route all dealings with International Financial Institutions through the DEA to maintain consistency, strategy, and economic sovereignty.

Finance

Indians Borrow ₹15.3 Lakh Crore in 11 Months, Industrial Sector Trails

By BPN News Desk March 31, 2025

Indian banks provided ₹15.3 lakh crore in loans over 11 months, driven by personal borrowing and services, as industrial lending showed slower growth amid cautious investment trends.

Business Industry

India Approves ₹22,919 Crore PLI Scheme to Boost Non-Semiconductor Electronics Manufacturing

By BPN News Desk March 29, 2025

The Union Cabinet has approved a ₹22,919 crore Production-Linked Incentive (PLI) scheme to strengthen domestic manufacturing of non-semiconductor electronic components. This strategic initiative is aimed at reducing India’s import dependence and building a robust local ecosystem for critical components used in various electronic products. Investment, Jobs, and Output

Business Finance

Egg Seller and Juice Vendor Slapped with Crores in GST Dues Due to Alleged Identity Theft

By BPN News Desk March 29, 2025

In a bizarre and troubling turn of events, two small-time vendors—an egg seller from Madhya Pradesh and a juice vendor from Uttar Pradesh—have received GST notices demanding payment of taxes running into crores of rupees. Both cases appear to be instances of identity theft, where their personal documents may have been misused to register shell […]

Business Finance

India Advocates for Eased Compliance to Expand UPI in International Payments

By BPN News Desk March 29, 2025

India is intensifying its push to globalize the Unified Payments Interface (UPI) by seeking regulatory support to ease cross-border compliance requirements. The goal is to position UPI as a credible global rival to entrenched payment systems like Visa, Mastercard, and SWIFT by simplifying international transaction frameworks and promoting broader adoption. UPI’s

Business Industry

MSMEs Express Concerns Over New GST Invoice Management System

By BPN News Desk March 28, 2025

The rollout of India’s new Invoice Management System (IMS) under the Goods and Services Tax (GST) regime has triggered alarm among Micro, Small, and Medium Enterprises (MSMEs), who fear significant operational and financial disruptions. While the new system is intended to improve tax transparency and streamline compliance, small businesses are grappling with a host of […]

Business Finance

Banking Laws Amendment Bill: Rajya Sabha Approves New Rules for Nominations and Bank Governance

By BPN News Desk March 27, 2025

The Rajya Sabha recently passed the Banking Laws Amendment Bill, aiming to enhance governance in the banking sector and streamline financial processes for depositors. This amendment, already approved by the Lok Sabha, introduces several key reforms to improve banking regulations and reporting. New Nomination System for Depositors One of the most notable provisions of the