The ambitious Rs. 1.5 lakh crore steel project proposed by ArcelorMittal Nippon Steel India Limited (AMNSIL) in Andhra Pradesh has encountered a setback after the Expert Appraisal Committee (EAC) under the Ministry of Environment, Forest and Climate Change deferred its environmental clearance. The delay stems from ambiguity surrounding new siting guidelines introduced earlier this year under notification GSR 85(E). The committee has sought further clarification from the ministry’s Controller of Pollution Division before proceeding.

Panasonic India’s long-serving Chairman, Manish Sharma, has resigned after nearly two decades with the Japanese electronics giant, marking the end of a transformative leadership phase. During his tenure, Sharma played a pivotal role in deepening Panasonic’s manufacturing footprint in India, driving localization, and strengthening its alignment with the government’s Make in India initiative. Following his exit, Tadashi Chiba, currently the Managing Director of Panasonic Life Solutions India, will assume the chairman’s role.

Vedanta Resources Ltd has announced the launch of CopperTech Metals Inc, a U.S.-based company aimed at strengthening its presence in the global copper market and supporting the clean-energy transition. With an initial investment of USD 1.5 billion, the venture seeks to expand operations at the Konkola Copper Mines (KCM) in Zambia and enhance access to Western capital.

India’s foreign exchange reserves declined by USD 2.3 billion to USD 689.73 billion for the week ended November 1, reflecting currency market interventions and valuation adjustments due to global financial turbulence. Despite the marginal fall, reserves remain comfortably high, providing a strong buffer against external shocks and ensuring macroeconomic stability. The Reserve Bank of India (RBI) continues to manage liquidity and currency movements prudently as the rupee faces mild depreciation pressures amid fluctuating crude prices, foreign fund outflows, and a strengthening US dollar.

FSN E-Commerce Ventures Ltd, the parent company of Nykaa, reported a sharp 63% year-on-year surge in consolidated net profit to Rs 34 crore for the September quarter (Q2 FY25), driven by robust consumer demand across its beauty and fashion verticals. Revenue from operations climbed 22% to Rs 1,856 crore, buoyed by higher order volumes, improved operating leverage, and strong festive season momentum.

India and Chile are moving closer to finalising a Comprehensive Economic Partnership Agreement (CEPA) aimed at expanding bilateral trade and strategic cooperation, with critical minerals—especially lithium—emerging as a central focus. After three rounds of negotiations, both nations are working toward completing the deal by the end of 2025. The agreement seeks to deepen collaboration in trade, investment, digital commerce, and sustainable mining.

Swiggy, one of India’s largest food delivery and quick-commerce platforms, is preparing to raise up to ₹10,000 crore through a Qualified Institutional Placement (QIP) and other potential fundraising instruments. The move, approved by its board, comes amid intensifying competition in India’s rapidly expanding quick-commerce sector, where rivals such as Blinkit and Zepto are racing to capture market share.

India is embarking on a new phase of structural financial reforms aimed at transforming its economy into a USD 30 trillion powerhouse by 2047. Policymakers and economic advisors emphasize the need for a more robust financial ecosystem that can support sustained investment, innovation, and inclusion. The government is focusing on modernizing financial institutions, deepening capital markets, and enhancing regulatory efficiency. These efforts, combined with rapid digitalization and demographic advantage, are expected to drive long-term growth.

India’s central bank has raised concerns over a recent spike in digital payment frauds, highlighting the growing sophistication of cybercriminals targeting online transactions. Reserve Bank of India (RBI) Deputy Governor M. Rajeshwar Rao revealed that cases of financial fraud have increased noticeably since July, prompting regulatory attention toward strengthening digital security frameworks. The warning underscores the risks accompanying India’s rapid shift to cashless payments, as millions of new users embrace UPI, online banking, and digital wallets.

Bajaj Auto Ltd., one of India’s leading two-wheeler manufacturers, has announced its plan to acquire shares in Pierer Bajaj AG, the joint venture holding company that oversees investments in the high-performance motorcycle segment. This strategic acquisition reinforces Bajaj Auto’s commitment to deepening its global alliances, particularly with Austria-based Pierer Mobility AG, the parent firm of KTM, Husqvarna, and GasGas.