Auxilo Finserve unveils ‘GlobalEd'
LuLu Forex & LuLu Finserv Partners with AFA
Pune: LuLu Forex, a pan-India provider of foreign exchange and outward remittance services, and LuLu Finserv, a microlending and financial services company, have announced a regional fintech partnership with the Argentine Football Association (AFA).
As part of a larger global agreement, various entities under LuLu Financial Holdings—operating in 10 countries—will represent AFA within their respective regions. In India, LuLu Forex and LuLu Finserv will jointly serve as official regional partners, while sister companies like LuLu Exchange and LuLu Money will manage partnerships in the GCC countries, Malaysia, the Philippines, and Singapore. HTC
HP Srivastava Appointed Chairman of DCCIA
Pune: HP Srivastava has been appointed as the new chairman of the Deccan Chamber of Commerce, Industries & Agriculture (DCCIA), a prominent industry body with a legacy spanning over three decades. Srivastava previously served as Vice-Chairman for more than 20 years.
Alongside his appointment, Dr. Prakash Dhoka has been named Vice-Chairman, V.L. Malu as Honorary Secretary, and Vibhu Prasad as Treasurer.
'I am deeply honoured and humbled to accept the responsibility of Chairman of the Deccan Chamber of Commerce, Industries & Agriculture,' said Srivastava. 'I look forward to working closely with our esteemed members, the executive committee, and all stakeholders to drive innovation, promote sustainable growth, and address the evolving needs of our industries.'
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Business Standard
10 hours ago
- Business Standard
Navigating US tariffs: Strategic responses for building resilience
The US decision to impose an additional 25 per cent tariff on Indian goods—over and above the standard Most Favoured Nation (MFN) rates—is likely to make India's exports less competitive in the US market. Estimates suggest approximately 30 per cent of Indian exports, valued at $87 billion, and spanning sectors such as gems and jewellery, engineering, auto parts, textiles and apparel, leather, handicrafts and carpets will be affected. This move is expected to have a detrimental impact on production and employment across these industries in India. While one hopes for a more positive outcome to the negotiations that are likely to continue later this month, a strong need exists for us to build on alternative strategies that support growth, investments and employment. Hence, while the higher tariffs for US markets are a big economic challenge, they also create opportunities for innovative solutions that may take India on a higher growth trajectory. Export-market diversification: One clear strategy to offset the potential loss of trade earnings from the US market is to diversify India's export destinations. In this context, there are significant opportunities to step up our exports to alternative markets. Africa, for instance, is emerging as a fast-growing destination for India's pharmaceuticals, textiles, digital services, electrical and auto products, as well as agricultural and clean tech goods. Already at about $83 billion, India and Africa have set an ambitious goal of scaling bilateral trade to $200 billion by 2030. At the same time, expanding exports of gems & jewellery, as well as textiles & garments to the energy-rich economies in the Middle East and Central Asia presents another viable avenue. Trade agreements and Free Trade Agreements (FTAs) also offer scope for broadening India's export reach. Trade deals: The recently concluded FTA with the UK, along with the ongoing negotiations with EU – which are expected to conclude soon – offer significant opportunities to expand market access for Indian products. Early finalisation of FTAs with Canada and Australia, both major export destinations, would further help diversify India's trade portfolio and reduce overdependence on a limited number of markets. Additionally, expediting FTA with Gulf Cooperation Council (GCC) and pursuing a renegotiation of the existing FTA with ASEAN would provide a much-needed boost to India's trade strategy. Regional economic and tech integration: Another low-hanging fruit is strengthening regional trade ties and regulatory standards within the grouping of Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC). Working with neighbourhood countries of Bhutan, Bangladesh, Nepal, Myanmar, Sri Lanka, and Thailand, would give a fillip to agricultural exports, besides to pharmaceuticals, textiles and garments, engineering goods, electronics, etc. In this context, India's leadership in scaling up the Unified Payments Interface (UPI) for cross-border financial settlements could be a game changer for regional trade. When coupled with enhanced regional connectivity projects, infrastructure development would be well-positioned to emerge as a key growth engine for the region – catalysing a virtuous cycle of investments, economic activity, employment and consumption across the region. Strength of services sector: Importantly, services are less vulnerable to tariffs and India remains a major global exporter in this domain - currently ranked seventh worldwide. IT and IT-enabled services constitute an estimated 50 per cent of India's services exports, followed by business services, medical and education tourism, transport, and logistics related services. To sustain and enhance this momentum, the development of high-value exports by Indian IT firms, particularly in areas such as Artificial Intelligence (AI), Machine Learning, cybersecurity, cloud-based solutions, and other innovation-driven software development, is imperative. This is also an opportune time to strengthen exports of telemedicine and online education through edtech platforms, promote greater medical tourism, and attract international visitors especially from Southeast Asia, Japan, S Korea, China, to culturally important destinations such as the Buddhist circuit. Value-addition in GCCs: An important offshoot of services sector exports is the growing contribution of Global Capability Centres (GCCs), which could play a key role in mitigating the adverse impact of higher tariffs. India has emerged as a global hub for GCCs, which are offshore units established by multinational corporations to carry out strategic business functions in a cost-effective and efficient manner. These functions range from R&D and product development to innovation in technologies and components. Attracted by India's young, English-speaking, and highly skilled workforce, more than 1,900 GCCs are currently operating in the country. Continued focus on enhancing value addition within these centres—particularly in IT-led innovation and cutting-edge areas such as AI—could contribute over $100 billion worth of innovative products and services by 2030. Global supply chains: Attracting greater investment into global supply chains remains a critical strategy to counter potential trade losses in the US market. This requires further regulatory easing under the Ease of Doing Business (EODB) framework, especially through targeted partnerships with industrialized Indian states. Strategic collaboration with member countries of the Indo-Pacific Economic Framework (IPEF) on supply chain alignment—particularly by engaging with the top 50 global multinationals—will also be essential. Integrating with global supply chains will help to build a domestic ecosystem of high-value manufacturing and exports, thereby giving India an edge in global markets. Overview: In conclusion, while the outcome of our negotiations with US is still evolving, it seems to be a defining moment for the country to expand its trade markets, focus on the FTAs to establish alternative yet stable markets for our export products, strengthen regional trade and connectivity – both financial and infrastructural. Besides, it is an opportune time to incentivise corporates to move up the value chain, and build domestic capacity for higher value-added goods, whether they be in electronics, pharma, biotech, fintech, AI-driven products, or green tech-based products. Continued growth in the services sector, along with policy reforms to attract global supply chains, will be critical components of the blueprint for transforming the Indian economy toward a higher-growth, higher-employment trajectory.
The Hindu
17 hours ago
- The Hindu
GCC to construct new bus shelters, refurbish existing ones in 3 zones
The Greater Chennai Corporation (GCC) has sanctioned the construction and refurbishment of bus shelters in Tondiarpet (Zone IV), Kodambakkam (Zone X), and Adyar (Zone XIII). In Tondiarpet, a new bus shelter is to be constructed at a Corporation-owned vacant site near R.K. Nagar. According to the GCC, the identified location spans 16,000 Of this, 11,677 will be covered with tensile roofing by a private agency, which will be roped in through a tender for ₹76.5 lakh. A total of ₹1.79 crore has been allotted for the project, which received administrative sanction on June 28, 2025. The bus terminus on Jones Road, adjacent to Jawaharlal Street in West Saidapet, was damaged and in dire need of a revamp. The structure, covering 184.80 sq.m., is set to be refurbished with tensile roofing at a sanctioned amount of ₹10.5 lakh. Orders for the work were issued on July 7, 2025. In Adyar, two damaged bus shelters, located near Easwaran Koil and Gokhale Road, are to be reconstructed with tensile-roofed structures. Administrative sanction for this work was issued on July 23, 2025.
Time of India
18 hours ago
- Time of India
IT sector, GCCs emerging as drivers of Telangana's $ 1trillion economy goal
1 2 Hyderabad: The IT/ITeS sector, especially global capability centres (GCCs), have emerged as a key drivers of Telangana's vision to become a $1 trillion economy, Telangana special chief secretary for IT, Sanjay Kumar, said on Friday. "The govt continues its vision of driving towards a one trillion-dollar economy with IT/ITeS being the key driver, and we believe govts are not just regulators but co-creators of the future. We aim to transform Telangana from a premier IT hub into a global leader in emerging technology such as AI and Quantum through innovation and R&D engagement," Kumar said at the GCC X Summit organised by HYSEA and 3AI here. Pointing to Hyderabad's growing stature as a GCC hub, Sameer Dhanrajani, CEO, 3AI, said the city is giving stiff competition to traditional IT hubs like Bengaluru and attracted 70 GCCs in FY25 alone. He said this was also the reason why 3AI decided to bring the GCC X conclave, which is held every year in Bengaluru, to Hyderabad this year. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad Talking about AI emerging as the new rallying cry for GCCs, Dhanrajani said: "Parent organisations are increasingly relying on these centres to drive both topline growth and bottomline efficiency. The rapid proliferation of GCCs in Hyderabad is a clear testament to the elevated, strategic work being delivered here." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Click here for more information Undo HYSEA President Prashanth Nandella said Hyderabad continues to lead as a preferred destination for next-gen capability centres thanks to its vibrant IT research and innovation ecosystem, good future-ready infrastructure as well as proactive governance. The conclave saw GCC leaders from top companies such as McDonald's, Evernorth, Jaguar Land Rover, Metlife, Rakuten India, and Google, among others, participate along with several GCC enablement ecosystem players and academicians from top institutions.
