Industry Odisha Bureau, Oct 31: The Indian Navy has begun airlifting food to flood-hit Ganjam villages. Floods unleashed by Cyclone Arnab have marooned thousands of residents in southern Odisha. The Navy launched a Humanitarian Assistance and Disaster Relief (HADR) mission for the region. The move follows an urgent request from the Ganjam District Collector and Magistrate. The district administration flagged severe waterlogging and snapped road links across the area. Acting on directions from the Eastern Naval Command headquarters, INS Dega swung into action. The naval air station deployed a SeaKing and a Chetak helicopter for relief sorties. Both choppers had…
Author: Industry Odisha
Industry Odisha Bureau, Oct 31: Odisha is fast emerging as a key force in India’s clean energy shift. The state has aligned its strategy with Prime Minister Narendra Modi’s national clean energy vision. That vision targets 500 GW of non-fossil energy capacity by 2030. Odisha will showcase its strengths at the Bharat Renewable Energy Summit and Expo 2026. The four-day event runs from November 2 to 5 at Bharat Mandapam, New Delhi. Preparations for the state’s participation have now reached peak momentum. The state will highlight its vast potential, policy incentives and new investment avenues. Additional Chief Secretary for Energy…
Industry Odisha Bureau, Oct 31: Relief work in Cyclone Arnab-hit Aska has gathered full pace across the town. Officials and ground teams are working together to speed up recovery. Ganjam Collector and District Magistrate Keerthi Vasan V said the situation is improving steadily. He credited round-the-clock field management and coordination among multiple agencies. Chief Secretary Anu Garg is reviewing progress closely at the state level. She remains in constant touch with the district administration. The aim is to speed up resource deployment and remove hurdles on the ground. Traffic snarls had initially slowed the movement of emergency teams. Field officers…
Industry Odisha Bureau, Oct 31: RBI directors reviewed economic conditions as weather and global shocks cloud growth and inflation. The Reserve Bank of India’s central board met on Friday to review economic conditions. Governor Sanjay Malhotra chaired the session. Directors discussed prevailing challenges and evaluated potential risks to the economic outlook. The meeting comes as weather and global pressures cloud India’s growth and inflation path. The board’s role differs from that of the Monetary Policy Committee. The six-member committee sets interest rates. The central board oversees the RBI’s broader governance and institutional functioning. Friday’s review, therefore, carried no rate decision.…
Industry Odisha Bureau, Oct 31: The Centre has decided to extend the cotton import duty exemption until December 31. Textile makers will keep importing cotton without customs duty until December 31, 2026. The Centre extended the exemption by two months from the earlier October 31 deadline. The move aims to boost cotton availability for India’s textile and apparel industry. The government expects lower input costs to ease pressure on manufacturers. The Finance Ministry implemented the change by amending its May 30, 2026 customs notification. The new deadline simply replaces October 31 with December 31. It was issued under Section 25(1)…
Industry Odisha Bureau, Oct 31: Mondelez pushes deeper into India’s retail market, but rising costs test its growth. Mondelez International, maker of Cadbury chocolates and Oreo biscuits, is doubling down on India. Its India revenue grew over 20% year-on-year in the third quarter ended September. The company added about 130,000 retail outlets during the period. It now plans to push deeper into the country’s fragmented retail market. The growth came despite inflation and a slowing global economy. India remains one of its key growth engines. Yet higher freight, fuel and commodity costs are rising alongside sales. That tension sits at…
Industry Odisha Bureau, Oct 31: State-run lenders cut fresh deposit rates sharply, yet still pay savers more than private banks. PSU banks cut rates on fresh term deposits sharply in September, RBI data shows. Their weighted average rate fell 10 basis points to 6.10%. Private banks trimmed theirs by just six basis points to 5.76%. The data, released on Friday, also shows a split on loan pricing. State-run lenders lowered fresh rupee loan rates by six basis points to 7.93%. Private banks held theirs steady at 9.19%. Even so, PSU banks still pay 34 basis points more on fresh deposits.…
Industry Odisha Bureau, Oct 31: India’s niche beauty brands post impressive growth as older rivals face a revenue decline. India’s newer beauty and personal care brands delivered impressive revenue growth in FY26. Some doubled sales, while a few nearly tripled them. Several older direct-to-consumer names, meanwhile, struggled to keep pace. The divergence raises a key question for founders and investors. Is focus beating scale, or are smaller bases flattering the numbers? Foxtale’s operating revenue rose to ₹383 crore from ₹199 crore, Registrar of Companies filings show. That is growth of roughly 92%. The Z47-backed company sells sunscreen, face wash, moisturiser…
Industry Odisha Bureau, Oct 31: About 496 million crossed the lower middle income poverty line, but wage gaps persist. India’s extreme poverty rate fell to 2.6% in 2023 from 27.1% in 2011. The World Bank reported this in its October 2026 Poverty & Equity Brief. Extreme poverty is measured at $3 a day. The lower middle income line, set at $4.20, tells a broader story. Poverty under that line dropped to 16.1% from 57.7%. About 496 million people crossed this threshold over the period. The bank called it one of the world’s fastest declines. Both lines use 2021 purchasing power…
Industry Odisha Bureau, Oct 31: Proposed limits could erode over half of some lenders’ insurance fees, hitting smaller banks harder. Irdai’s proposed insurance commission cap is set to squeeze bank fee income. Smaller and mid-sized lenders are likely to be hit harder than large peers. Some could lose over half their bancassurance income. Several banks flagged the risk while reporting September-quarter earnings. The regulator’s September 23 consultation paper proposes product-wise limits on distribution commissions. These cover payments insurers make to banks, brokers and agents. Single-premium life policies sold with loans would carry a 2% commission cap. Today, banks negotiate such…