Industry Odisha Bureau, Oct 29: A proposal for a mandatory 10% co-payment in retail health insurance is drawing scrutiny. The General Insurance Council has suggested policyholders bear 10% of admissible medical expenses. Insurers would cover the remaining 90%. Full details of the proposal are not yet public. It remains an industry suggestion, not an approved regulatory rule. The aim is to give policyholders a direct financial stake in treatment costs. Shared costs could deter unnecessary tests, longer hospital stays and pricier rooms. Lower claims might, in theory, ease premiums. Writing in Mint, M. S. Sahoo argues the plan raises concerns.…
Author: Industry Odisha
Industry Odisha Bureau, Oct 29: The rising price of polymers is hurting India’s small manufacturers. Higher shipping costs since late February have deepened the damage. MSMEs that turn polymers into finished products have seen margins halve, executives told Mint. Costlier crude oil has also strained their working capital. The shock began with crude oil. Brent has climbed to about $114 a barrel from $72. That was its level when the West Asia war began on February 28. Crude feeds naphtha and other petrochemical inputs used to make polymers. Industry data reviewed by Mint show polymer prices rose 16-41% year-on-year in…
Industry Odisha Bureau, Oct 29: A silver import surge has revived India’s only international bullion exchange. The India International Bullion Exchange, (IIBX) recorded about 570 tonnes of silver trades. That volume came in roughly three months since August. The exchange had seen no silver trades in the preceding year. Spot gold imports through IIBX, by contrast, stood at just 0.3 tonnes. The trigger was a regulatory shift in May. The Directorate General of Foreign Trade moved certain categories of silver to the restricted list. Importers of these products now need government licences. Kotak Neo’s Anindya Banerjee estimates licences covering about…
Industry Odisha Bureau, Oct 29: India’s banking sector is showing strong confidence in achieving sustained double-digit credit growth. That optimism holds despite rising funding pressures and broader macroeconomic headwinds. The latest FICCI-IBA Bankers’ Survey captures this upbeat mood among lenders. It suggests banks see steady loan demand across the economy. The survey was jointly conducted by FICCI and the Indian Banks’ Association. It describes a strongly constructive outlook across retail, SME, industrial and services lending. Retail and small-business loans stand out as the clearest growth engines. More than four-fifths of respondents expect both segments to grow at double-digit rates. Almost…
Industry Odisha Bureau, Oct 29: India’s tractor sales are heading for a decline this fiscal year. Industry executives warn volumes could slip to a three-year low in FY27. A weak monsoon is hurting farm incomes and cooling demand across the rural market. Since tractors track farm prosperity closely, the slowdown signals wider rural strain. The rainfall picture explains much of the caution. Nationally, monsoon rainfall was reportedly 13% below the long-period average. Maharashtra’s June-September rainfall was 19% below normal, according to the India Meteorological Department. Drought has also gripped parts of Karnataka and Andhra Pradesh. Rising commodity prices have added…
Industry Odisha Bureau, Oct 29: Nike has unveiled Vegam Run, its first running shoe designed specifically for the Indian market. The launch aims to boost Nike presence in the world’s most populous country. It also reflects the company’s urgent search for fresh growth beyond struggling regions. Vegam Run goes on sale exclusively on Flipkart from November 1. It is priced at ₹3,795, or roughly $40. Nike said the shoe was developed in about five months. That suggests a faster, more locally driven development process. The pricing is the clearest strategic signal. India’s footwear market is highly price-sensitive, yet increasingly brand-conscious.…
Industry Odisha Bureau, Oct 28: Hindustan Zinc’s years of capital spending are now showing up in its numbers. The Vedanta Group company posted higher output and sharply lower costs in the September quarter. Consolidated net profit rose 142% to ₹6,412 crore, from ₹2,649 crore a year earlier. Chairperson Priya Agarwal Hebbar credited sustained investment in capacity, efficiency and technology. Her Q2 FY27 shareholder letter said long-term investments were “translating into tangible outcomes”. Mined metal production rose 5% year-on-year to 271,000 tonnes. Refined metal output climbed 7% to 264,000 tonnes. Silver production grew fastest, rising 20% to 173 tonnes. Hebbar linked…
Industry Odisha Bureau, Oct 28: Tawang will host the 14th International Tourism Mart (ITM) from October 29 to 31. The Arunachal Pradesh town last hosted the event in 2013, during its second edition. The Union Tourism Ministry is organising the mart with Arunachal Pradesh and other northeastern states. Hotel Vivanta in Tawang will serve as the venue for the three-day event. Union Tourism and Culture Minister Gajendra Singh Shekhawat will attend the opening on October 29. Minister of State for Tourism Suresh Gopi and Chief Minister Pema Khandu will join him. The opening day will feature the launch of the…
Industry Odisha Burea, Oct 28: The CRUT pavilion has won the first prize at Urban Mobility India Conference 2026. The 19th edition of the national event saw the pavilion draw strong crowds. CRUT runs public bus services in Odisha’s capital region under the Mo Bus brand. The exhibit covered nearly 4,000 sq ft and stood out as a key attraction. Its high-tech, interactive design drew visitors, delegates and senior officials alike. Chief Minister Mohan Charan Majhi expressed delight at the heavy footfall and praise. He toured the pavilion with Housing and Urban Development Minister Krushna Chandra Mahapatra. Chief Secretary Anu…
Industry Odisha Bureau, Oct 28: Odisha is now among India’s six biggest sources of interstate migrant labour. Its workers are steadily moving to South India’s major industrial and economic centres. The South India Interstate Migration Survey 2026 has revealed this trend. Odia workers make up 12% of all surveyed migrants in the southern states. They travel mainly to Tamil Nadu, Karnataka and Kerala for jobs and better pay. The International Institute of Migration and Development carried out the study jointly. The United Nations Population Fund and International Organization for Migration were partners. The study maps migration trends, working conditions and…