Weekly News Platter
The Economic Times

Weekly News Platter

22 Aug, 2026, 05:20PM IST, PTI
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In case you had a busy week, these are the top stories you need to get caught up to speed...
PM Modi says ‘production-linked punishment’ era once held back Indian industry; pegs India as world’s fastest-growing economyPM Modi says ‘production-linked punishment’ era once held back Indian industry; pegs India as world’s fastest-growing economy
Prime Minister Narendra Modi on Friday said India had moved from the Licence Raj-era “Production Linked Punishment” model to incentivising production through the PLI scheme, which he said has generated ₹2.5 lakh crore in investment, ₹22 lakh crore in production and sales, ₹15 lakh crore in exports and over 14 lakh jobs. Read more
Expensive living? Inflation hits coriander to cars in IndiaExpensive living? Inflation hits coriander to cars in India
Consumer goods companies are increasing prices and reducing pack sizes. Automobile manufacturers and tyre companies also announced significant price hikes. Rising commodity and energy costs are pressuring company margins. India's retail inflation has moved above the Reserve Bank of India's target. Policymakers are watching for broader inflation spread across the economy. Read more
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Vijay Shekhar Sharma's Rs 4 crore pay found 'materially below' peer median; Board recommends revisionVijay Shekhar Sharma's Rs 4 crore pay found 'materially below' peer median; Board recommends revision
Under the proposed structure, Sharma's remuneration will also include a variable component which will be performance-linked set by the NRC on achievement against predefined financial performance targets. Read more
Raghuram Rajan pitches AI tax idea for govt coffers amid ‘jobocalypse’ fearsRaghuram Rajan pitches AI tax idea for govt coffers amid ‘jobocalypse’ fears
Raghuram Rajan proposes taxing artificial intelligence usage by corporations. This tax aims to offset the financial advantage machines currently hold. Companies would also receive incentives for retraining and retaining their employees. AI adoption is expected to increase due to competitive pressures over time. The focus remains on managing the transition and supporting affected workers. Read more
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Tata, Godrej and now Birla: Big groups aren't just chasing glitterTata, Godrej and now Birla: Big groups aren't just chasing glitter
India’s gold loan market is emerging as a growth opportunity for financial institutions, with outstanding loans against gold jewellery reaching Rs 3.3 lakh cr by May 2026. Tata Capital, Godrej Capital and Aditya Birla Capital are expanding aggressively as lenders shift toward secured retail credit, driven by rising gold prices, strong demand, regulatory changes and India’s vast household gold holdings. Read more
Canada revises rules for small employers hiring low-wage temporary foreign workersCanada revises rules for small employers hiring low-wage temporary foreign workers
Canadian employers with small work locations can now hire more low-wage temporary foreign workers. New federal rules permit businesses with fewer than ten employees to hire one or two workers. This change allows some employers to exceed the usual workforce percentage caps. In-demand sectors like healthcare and construction can hire up to two workers. These updated regulations aim to address labor needs across various industries. Read more
RBI Governor Sanjay Malhotra flags inflation risks; says rate recalibration needs greater clarity, MPC Minutes showRBI Governor Sanjay Malhotra flags inflation risks; says rate recalibration needs greater clarity, MPC Minutes show
RBI Governor Sanjay Malhotra said greater clarity on the inflation trajectory is needed before any recalibration of the policy rate, as the central bank remains alert to risks from food, fuel and input costs. The MPC retained the repo rate, with members favouring a wait-and-watch approach amid persistent uncertainties. Read more
India’s rousing $14.8 billion coaching industry story gets 'vidyapeeth' partnerIndia’s rousing $14.8 billion coaching industry story gets 'vidyapeeth' partner
India’s competitive-exam coaching industry is entering a new phase as Prime Minister Narendra Modi’s free online coaching push meets a rapidly expanding private test-prep market. With the $14.8 billion industry projected to reach $23–26 billion by FY30, major players are already moving beyond Kota and other traditional hubs into Tier-2 and Tier-3 cities. The shift could make preparation more accessible for students, but also intensify competition among coaching companies as they balance digital access with the demand for quality physical classrooms, teachers and infrastructure. Read more
Ambani's Rs 2.7 lakh cr underground bet can save India from shocksAmbani's Rs 2.7 lakh cr underground bet can save India from shocks
Reliance Industries has proposed a Rs 2.73 lakh crore, 30-year investment to develop an underground coal gasification complex in Andhra Pradesh. The project could convert deep coal into syngas for hydrogen, methanol, ammonia and synthetic natural gas, helping India reduce dependence on imported LNG and chemical feedstocks. However, commercial viability, geological risks and UCG technology at scale remain major challenges. Read more
The 20 reforms that could take India to a $20 trillion economy by 2036: ReportThe 20 reforms that could take India to a $20 trillion economy by 2036: Report
India could reach a $20 trillion economy by 2036 with broad reforms. A 20-point agenda covers infrastructure, capital markets, and human capital development. Services sector growth is crucial, aiming for over 65% of the economy. Productivity and innovation require increased research and development spending. Sustained execution across multiple areas will drive this ambitious economic expansion. Read more
Income Tax Department launches nationwide verification of suspicious foreign remittancesIncome Tax Department launches nationwide verification of suspicious foreign remittances
The Income Tax Department has launched a nationwide verification exercise into suspicious foreign remittances after identifying several entities that allegedly remitted large amounts of foreign exchange despite reporting little or no turnover, the Central Board of Direct Taxes (CBDT) said. Read more
India allows duty-free sugar imports as prices climb ahead of festive seasonIndia allows duty-free sugar imports as prices climb ahead of festive season
Centre has allowed duty-free imports of 1 million metric tonnes of sugar as prices surge nearly 40% in two months amid tightening supplies. The move comes alongside stricter stockholding limits for bulk consumers, with festive demand expected to rise through November and weather conditions adding pressure to sugarcane availability. Read more
Deepinder Goyal reveals new Temple and you can soon pre-order itDeepinder Goyal reveals new Temple and you can soon pre-order it
Deepinder Goyal revealed his experimental Temple wearable is now significantly smaller. This device tracks cerebral blood flow and neurological markers. The company plans to start taking pre-orders for a limited edition soon. Shipments of the Temple wearable are anticipated before the end of 2026. Interested individuals can join the mailing list for future updates. Read more
BMW X1 LWB Launched in India: Price, features, engine, interior space and what’s new in the long-wheelbase SUVBMW X1 LWB Launched in India: Price, features, engine, interior space and what’s new in the long-wheelbase SUV
BMW has launched its new X1 Long Wheelbase model in India. This new variant offers increased cabin space and a petrol engine option. The extended wheelbase primarily enhances rear passenger comfort and legroom. Exterior design retains familiar X1 language with M Sport enhancements. The model integrates BMW's advanced technology and safety systems. Read more
HDFC Bank raises record $1.75 billion in overseas bond saleHDFC Bank raises record $1.75 billion in overseas bond sale
HDFC Bank raised a record $1.75 billion through three- and five-year dollar bonds, marking the largest debt capital market raise by an Indian financial institution. Strong investor demand generated over $7 billion in bids, enabling tighter pricing and supporting FCNR(B) deposit funding. Read more
RBI's early FCNR(B) deposit scheme closure 'data-driven' or a policy U-turn? Governor Malhotra explainsRBI's early FCNR(B) deposit scheme closure 'data-driven' or a policy U-turn? Governor Malhotra explains
RBI Governor Sanjay Malhotra defended the FCNR(B) deposit scheme's early closure. He stated the decision was data-driven and a prudent calibration. This move aims to attract $80 billion into India's economy. The central bank cited stronger than expected dollar inflows for the adjustment. The RBI remains committed to managing exchange rate volatility and market conditions. Read more
L&T-Mitsubishi to build world's largest APM system for Dubai's Al Maktoum International AirportL&T-Mitsubishi to build world's largest APM system for Dubai's Al Maktoum International Airport
Larsen & Toubro and Mitsubishi Heavy Industries will build the world's largest Automated People Mover system. This project spans fifty kilometers and connects nine stations at Dubai's Al Maktoum International Airport. The consortium secured this significant order valued between Rs 2,500 crore and Rs 5,000 crore. This driverless train network is a key part of the airport's expansion program. Read more
Delhi Master Plan eyes air taxis, air pods to commute in futureDelhi Master Plan eyes air taxis, air pods to commute in future
Delhi’s Master Plan 2047 envisions a greener, technology-driven transport network featuring air taxis, air pods and inland waterways. The blueprint proposes expanded Metro, high-speed rail and RRTS networks, revamped railway stations, cleaner fuels, unified ticketing, AI-based traffic management, improved cycling and walking infrastructure, and stronger links to major airports and neighbouring cities. Read more
DoT’s new SIM rule: Subscribers with 9 mobile connections cannot get another numberDoT’s new SIM rule: Subscribers with 9 mobile connections cannot get another number
Telecom operators must deny new SIM connections to subscribers exceeding nine. This directive from the Department of Telecommunications takes effect from August 24, 2026. Operators will use the Digital Intelligence Platform to identify and block excess connections. Subscriber photos will be available on the platform from August 23. Measures must be implemented by telecom providers before November 30. Read more
DGGI officers bust clandestine pan masala, tobacco manufacturing network; detect tax evasion of Rs 185 croreDGGI officers bust clandestine pan masala, tobacco manufacturing network; detect tax evasion of Rs 185 crore
DGGI officers busted a pan masala and tobacco manufacturing network in Uttar Pradesh. They seized twenty-seven undeclared pouch-packing machines and detected significant tax evasion. This operation uncovered a clandestine network operating across six premises in Chitrakoot and Banda districts. The evasion of GST, cess, and excise duty amounts to approximately Rs 185 crore. Read more

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