Author: News Desk

The Enforcement Directorate (ED) has filed a case under the Foreign Exchange Management Act (FEMA) against Myntra Designs Private Limited, its associated companies, and directors for allegedly violating Foreign Direct Investment (FDI) rules. The total value of the alleged contravention is over ₹1,654 crore. Alleged Multi-Brand Retail in Disguise The ED stated that Myntra and related entities engaged in multi-brand retail trading while operating under the cover of wholesale cash and carry business, which is not permitted under existing FDI norms. This practice, according to the ED, is in violation of guidelines laid out in the FDI policy. Violation of…

6,688 Companies Relocate from West Bengal: A Wake-Up Call for the State’s Economy? In a written reply to the Rajya Sabha on Tuesday, the Ministry of Corporate Affairs revealed that 6,688 companies relocated their registered offices from West Bengal to other Indian states between April 1, 2011, and March 31, 2025. The Ministry stated that these companies moved their bases to states such as Maharashtra, Delhi, Uttar Pradesh, Chhattisgarh, and Gujarat over the past 14 years. Political Reactions The disclosure sparked sharp criticism from BJP IT Cell head Amit Malviya, who accused the Trinamool Congress (TMC) government of failing to…

British Prime Minister Keir Starmer has called the upcoming Free Trade Agreement (FTA) with India a “major win” for the UK economy. The deal, expected to be signed during his meeting with Prime Minister Narendra Modi at Chequers, will significantly cut tariffs on various goods including clothing, footwear, and food. This move is set to lower prices for British consumers while boosting trade between the two nations. £6 Billion in New Investments and Export Wins As part of the broader economic cooperation, nearly GBP 6 billion in new investments and export agreements have been confirmed. These developments include the expansion…

Tesla has officially entered the Indian market, inaugurating its first showroom at Maker Maxity Mall in Mumbai’s Bandra Kurla Complex (BKC) on July 15. While the global electric vehicle (EV) giant’s arrival has generated immense buzz, experts caution that Tesla’s journey in the world’s third-largest auto market is set to be a challenging one. This move comes at a difficult time for Tesla globally. In Q2 2025, domestic sales in the US dropped by 6.3%—marking the third consecutive quarterly decline. In China, deliveries fell nearly 12% during the same period. In Europe, Tesla has experienced a steady five-month decline in…

Vadhavan Port: Powering India’s Maritime Future The Vadhavan Port, a landmark infrastructure initiative situated on the India-Middle East-Europe Economic Corridor (IMEC), is projected to significantly increase India’s container handling capacity by 23.2 million TEUs (Twenty-foot Equivalent Units). This deep-draft port is designed to position India as a leading global maritime hub. Speaking at the Maharashtra Maritime Summit 2025, Chief Minister Devendra Fadnavis described Vadhavan Port as a “key pillar” of India’s aspiration to become a global maritime superpower. As part of India’s Maritime Vision 2030 and 2047, Maharashtra is charting its own roadmap to strengthen port development and logistics. Reviving…

Arnold Schwarzenegger was announced by Forbes as one amongst the most successful immigrants and the richest actor at the moment, with a net worth of $1.2 billion. He is followed by Tom Cruise, Dwayne Johnson and Shah Rukh Khan. His journey began in 1960’s as a bodybuilder, clinching the junior Mr. Europe title. He later was the youngest winner of Mr. Universe at 20. He used this win to achieve his dream of moving to the U.S. He showed his strength in weightlifting and powerlifting competitions. He ended up being the youngest winner of the Mr. Olympia title at 23.…

A WhatsApp message is going viral claiming that the Finance Ministry is giving ₹46,715 to every Indian citizen, especially targeting low-income groups. The message says this is meant to help people facing financial struggles. Channeliam Fact Check ReviewChanneliam Fact Check has verified this claim and found it to be completely false. The message is not from the Finance Ministry, and no such financial aid scheme exists. It is a fake message, similar to those used in scams. Warning from Government SourcesThe Press Information Bureau (PIB) has also flagged the message as fake. In a post on X (formerly Twitter), PIB…

NISAR, the first joint satellite developed by NASA and ISRO, is scheduled for launch on July 30 at 5:40 p.m. from the Satish Dhawan Space Centre, Sriharikota. The satellite will be deployed into a 743 km Sun-synchronous orbit by the GSLV-F16 rocket. Dual-Frequency Radar for First Time Weighing 2,392 kg, NISAR will be the first satellite in the world to use a dual-frequency Synthetic Aperture Radar (SAR), combining NASA’s L-band and ISRO’s S-band radars. The mission will also feature NASA’s 12-meter unfurlable mesh reflector antenna, integrated with ISRO’s modified I3K satellite bus. High-Resolution, All-Weather Monitoring NISAR will scan the Earth…

IndiQube Spaces begins IPO subscription after strong anchor investor response Workspace solutions provider IndiQube Spaces has opened its Initial Public Offering (IPO) subscription to the public starting today, with the window closing on Friday, July 25. Ahead of its public launch, the company raised over ₹314 crore from anchor investors, signalling strong market interest. Founded in 2015, IndiQube Spaces has rapidly expanded to oversee a portfolio of 8.4 million square feet across 115 properties in 15 cities, with a total seating capacity of 186,719 as of March 2025. This represents significant growth from March 2023, when the company had 74…

Indian tech company Zoho is now shifting its focus from horizontal SaaS to vertical SaaS, aiming to offer highly tailored software solutions for specific industries. CEO Mani Vembu described vertical SaaS as a major growth opportunity, comparing its current stage to the early days of horizontal SaaS two decades ago. Industry-Specific Offerings in Focus Zoho plans to build specialised products for sectors like auto dealership management (Auto DMS) and banking, financial services, and insurance (BFSI). By doing so, the company aims to cut down software implementation times from 18 months to just six. Zoho is now working on scaling and…