New Delhi, May 19 (IANS) Smartphones have officially become India’s top exported good in FY25, overtaking traditional heavyweights like petroleum products and cut diamonds, as per latest government figures.Backed by government support and strong local manufacturing by tech giants like Apple and Samsung, smartphone exports rose 55 per cent to $24.14 billion in 2024-25, compared to $15.57 billion in the previous fiscal and $10.96 billion in 2022-23.According to the data, the United States and Japan saw the biggest jump in shipments over the last three years.Exports to the US grew nearly five times — from $2.16 billion in FY23 to $10.6 billion in FY25.Similarly, shipments to Japan shot up fourfold, from just $120 million to $520 million during the same period.This sharp rise is largely attributed to the government’s Production-Linked Incentive (PLI) scheme, which has helped attract global investments, scale up domestic manufacturing, and integrate Indian production into global value chains.As per Counterpoint Research’s report, Apple and Samsung together accounted for a massive 94 per cent of India’s smartphone exports in 2024.Their continued investment in local manufacturing played a key role in making smartphones the country’s top export item.Made-in-India smartphone shipments grew 6 per cent year-on-year in 2024, the report added.In FY25, India saw a boom in premium smartphone demand, especially for Apple.According to an IDC report on Monday, Apple clocked the highest growth among all brands in the January-March 2025 quarter, shipping a record 3 million iPhones.The iPhone 16 alone was the top-shipped model, accounting for 4 per cent of all smartphone sales in the quarter.India’s smartphone market is also shifting toward more expensive models. The average selling price (ASP) hit a record $274 in Q1 2025, while the premium segment ($600–$800) grew nearly 79 per cent.Apple’s iPhone 13 and 16 dominated this space, pushing its market share even further.–IANSpk/na

New Delhi, May 19 (IANS) The mutual fund (MF) industry ended fiscal 2025 on a high note, with assets under management (AUM) hitting a record Rs 65.74 lakh crore in March 2025, as per the Association of Mutual Funds in India’s (AMFI) annual report released on Monday.This marked a strong 23.11 per cent rise compared to Rs 53.40 lakh crore in March 2024.This growth came despite a volatile stock market, showing that investors stayed committed to their financial goals.Venkat N Chalasani, CEO of AMFI, said the outlook remains positive, with more investors entering the market and macroeconomic conditions staying supportive.The increase in AUM was supported by mark-to-market (MTM) gains and steady inflows throughout the year.During the fiscal year, domestic mutual funds saw total inflows of Rs 8.15 lakh crore, the report said.Most of this came into equity-oriented schemes, which attracted Rs 4.17 lakh crore — indicating continued investor preference for long-term growth.Debt schemes also made a strong comeback, seeing inflows of Rs 1.38 lakh crore after facing outflows for the past three years.AMFI said low interest rates and expectations of future rate cuts helped boost interest in debt funds.Another highlight was the surge in retail participation. The total number of mutual fund folios jumped by 32 per cent to a record 23.45 crore in FY25, up from 17.78 crore in FY24.Equity-oriented schemes accounted for the majority of these, with their folios rising by over 33 per cent to 16.38 crore.Hybrid schemes also saw healthy growth, while index funds and ETFs grew the fastest, with a 48 per cent rise in folios.Systematic Investment Plans (SIPs) played a big role in this growth story. SIP contributions rose sharply by 45.24 per cent to Rs 2.89 lakh crore in FY25.This not only reflected rising investor confidence but also boosted the share of SIP assets to Rs 13.35 lakh crore — nearly 20 per cent of the total mutual fund industry’s AUM.The number of SIP accounts and contributions both rose significantly during the year. AMFI noted a growing trend of long-term investing.A higher proportion of SIP assets were held for more than five years, indicating that investors are increasingly embracing disciplined wealth creation.The report also highlighted that younger investors preferred a more aggressive investment approach, while older investors focused on risk management and diversification.Despite India’s mutual fund penetration still being low compared to developed nations, the industry’s performance in FY25 shows rising awareness and trust among investors.–IANSpk/na

New Delhi, May 19 (IANS) India has made notable progress in enhancing its competitiveness and making its manufacturing sector more attractive to global investors, an S&P Global report said on Monday.While manufacturing value added accounts for a modest 17.2 per cent of the country’s real gross domestic product (GDP), the government has implemented targeted policy interventions to build domestic manufacturing capacity and strengthen India’s role in global supply chains.Beyond the near-term impact, therefore, India can benefit from the increasing trade protectionism, which may catalyse supply-chain diversification, according to the report.India is poised to maximise opportunities as the global trade and cooperation environment evolves. The country has grown visibly in size, scale and international impact over the past three decades and is on track to become the world’s third-largest economy by fiscal 2030-31.As economies adapt to evolving trade dynamics and tariff challenges, India can capitalise on this momentum for accelerated manufacturing growth and greater global supply-chain integration, said the report titled “India Forward: Transformative Perspectives”.The country is also focusing on alternative energy sources to create a cleaner, self-reliant transport future.Adoption of biofuels is a part of this push. Biofuels offer a triple-win solution to the country’s growing need for sustainable energy sources amid rising environmental concerns — by addressing energy security, reducing greenhouse gas (GHG) emissions and enhancing income opportunities for the agricultural sector, said the report.India is also set to pursue a path where energy security meets revenue security. Recent regulatory changes present an opportunity as India looks to enhance crude oil exploration and development to achieve self-sufficiency.It has moderate dependence on external trade for growth, which cushions it somewhat from ongoing shifts in global trade and tariff policies, though it is not immune to the rising trade protectionism, said the report.—IANSna/

New Delhi, May 19 (IANS) Smartphones have quietly become the ultimate companion for the modern traveler. Whether it’s a solo trip to the hills, a weekend city break, or a long-overdue beach escape, most adventures today are captured not with bulky cameras but with the device always in hand, your smartphone.For today’s travellers—who often double as photographers, vloggers, and storytellers—capturing these fleeting moments has become almost second nature, thus making smartphones the most essential travel companion in every traveler’s bag.Over the years, smartphone photography has evolved from convenient to essential. But as travel becomes faster, more spontaneous, and visually immersive, creators need more than just a decent lens. They need a camera that adapts to changing locations, unpredictable lighting, and constant motion.In real-world, dynamic scenarios, it’s not just about having a good camera. It’s about having one that understands the pace and unpredictability of the road. realme’s latest addition to their range of GT Series, 2025’s flagship killer, GT7, steps confidently into this role, redefining what a travel-friendly smartphone camera can do, leveraging its state of the art AI camera. As the AI Travel Master for all your trips and travel photography needs, it’s not just built to shoot—it’s built to adapt, react, and capture your memories with absolute clarity.Imagine you’re navigating a narrow trail in the Himalayas, and you spot the perfect sunset moment with the perfect frame. There’s no time to frame, refocus, or shoot twice. This is where the AI Travel Snap Camera in the GT 7, the segment’s most powerful flagship phone, takes over. With its Sony IMX906 sensor and Lightning Snap technology, it captures action in as little as 1/10266 of a second, freezing fleeting scenes with surprising clarity. You can even shoot up to 50 photos per second—a burst that ensures you don’t just capture the moment, you capture its every beat. Whether you’re walking, riding, or standing still in a crowd, the GT 7 quietly works in the background to get the sharpest shot.But clarity isn’t everything—style matters, too. Each place has its own mood. That’s why the GT 7 brings a creative twist with three AI-crafted photography styles that reflect the world around you. Instead of forcing users to spend time editing or applying filters later, realme gives you a head start with three unique camera styles created using AI: the “Mountain”, “Island” and “City”. These styles are designed to make your photos look professional without any extra effort. These aren’t simple filters, they adjust based on your lighting and environment, giving each photo its own mood and character, almost like a personal touch from a pro editor.Travel doesn’t stop at the shore. Some of the most breathtaking scenes lie beneath the water’s surface—shoals of fish, coral textures, or just the play of light through waves. The GT 7 Series introduces a world-first feature: 4K underwater video recording, designed specifically to handle underwater colors and lighting. It adjusts white balance and focus in real time, so whether you’re diving in an ocean or filming your kids in a pool, the result is stunningly clear and true to life—no separate action cam required.Portrait photography on the GT 7 is equally refined. The integrated snapshot algorithms ensure that subjects remain clear and beautifully defined even in challenging lighting or dynamic motion. Facial features are enhanced, background bokeh is rendered naturally, and the system’s real-time AI ensures flattering, professional portraits every time. Whether it’s for editorial fashion shoots, interviews, or spontaneous moments on the street, the GT 7 delivers studio-level quality straight out of the pocket.The magic of the GT 7 Series isn’t in highlighting the specs, it’s in how effortlessly it integrates into the flow of travel. It doesn’t ask you to adjust. It adjusts to you. From airports to forests, rain to sunlight, selfies to wide shots—it reads your surroundings and quietly makes smart choices so you don’t miss the experience while trying to capture it.In every sense, the GT 7 Series is more than just a smartphone—it’s a clear-eyed companion for the journey. For creators who love the road, the explorers who chase beauty in unexpected places, and anyone who wants their memories to match what they saw and felt, this is a camera that doesn’t just travel with you—it travels like you. And in every moment, it’s ready to make clarity your new standard.—IANSna/

Mumbai, May 19 (IANS) RVAI Global, a new venture in the AI Services space and a next-generation AI services firm, on Monday, announced its official launch with a mission to empower global enterprises in becoming AI-led organisations. The company aims to simplify the AI journey for businesses through cutting-edge solutions, deep-tech capabilities, and a customer-first approach.Founded by Vijay Sivaram, part of the founding team at Quess Corp, and Rohit Himatsingka, formerly with Essar’s Black Box, RVAI Global is poised to address the dynamic technology landscape by delivering practical, scalable, and future-ready AI solutions.“It is estimated that 92 per cent of enterprises intend to increase their investments in AI. The future of enterprises and their workforce will be shaped by agentic platforms working seamlessly alongside human talent. This synergy will unlock new levels of productivity, efficiency, and decision-making — placing RVAI at the heart of this transformation,” said Vijay Sivaram, Co-founder, RVAI Global.“Our unique vantage point, built on deep industry experience and advanced tech expertise, will enable clients to unlock value and drive measurable outcomes across their organisations,” added Rohit Himatsingka, Co-founder, RVAI Global.RVAI Global’s services span across AI Consulting & Advisory, AI-as-a-Service, Agentic AI Solutions, and AI Talent Solutions. The firm will also partner with global enterprises to set up dedicated AI Global Capability Centres (GCCs) and Centres of Excellence (CoEs), helping them accelerate enterprise-wide AI adoption.As businesses explore AI integration, RVAI believes each implementation must be tailored to context, scale, and organisational goals. Its approach focuses on creating multi-model, customisable frameworks that ensure relevance, sustainability, and cost-efficiency. RVAI’s solutions will be tailored across industries, including BFSI, Healthcare, Telecom, and Retail, helping enterprises move from AI ambition to AI at scale.—IANSskp/

New Delhi, May 19 (IANS) Following healthy collections from customers along with receipt of overdue payments, credit rating agency ICRA on Monday revised the outlook on the Indian telecom tower industry to ‘Stable’ from ‘Negative.’The industry was earlier facing headwinds owing to elongated receivables, on account of delays in payments by some of the telecom service providers. However, the situation has improved materially with consistent timely payments to the tower companies resulting in reduction of receivable days to around 45-60 days, lower than the ICRA’s negative outlook threshold of 80 days. This, coupled with recovery of the past overdues, has enhanced the liquidity profile of the telecom tower industry and moderated the reliance on external debt, which is likely to translate into improvement in the return metrics of the industry.ICRA expects the tower industry to report an operating income growth of 4-6 per cent with operating margins (adjusting for energy revenues) at around 70-75 per cent for FY2026. These along with easing of the working capital requirements is likely to boost the liquidity position with the cash balances of the industry increasing to around Rs. 5,500-6,000 crore from Rs. 2,200-3,000 crore levels in the past.“Improvement in the credit profile of some key telecom service providers, who are the customers for tower companies, has eased the working capital cycle of tower companies,” said Ankit Jain, Vice President and Sector Head, Corporate Ratings, ICRA.Moreover, there has been clearance of sizeable amount of past overdues, which has resulted in reversal of provisions made earlier in FY2023. This has augmented the cash flows and liquidity position of the industry as a whole. The collections are expected to remain timely, going forward, thereby restricting the industry debtor levels below 60 days. “This will also result in reduction in external debt, with ICRA projecting net external debt/OPBDITA at around 3.4x for FY2026,” said Jain.With improvement in the credit quality of some of the customers and fund raise exercise concluded by a few of them, these customers are expected to re-initiate their capex plans. The demand for telecom services, especially data, is witnessing very strong growth in India, translating into consistent network expansion and upgradation by the telcos, said the report.–IANSna/

New Delhi, May 19 (IANS) The Indian rupee opened 12 paise stronger at 85.44 against the US dollar on Monday, amid a backdrop of global economic developments and market reactions.The Indian rupee closed at 85.52 a dollar on Friday.Meanwhile, gold prices increased almost 1 per cent in the morning session of trade on the domestic futures market on Monday, amid a weaker dollar and renewed fears of Donald Trump-era trade tariffs.MCX Gold June 5 contract traded 0.95 per cent higher at Rs 93,317 per 10 grams in the morning trade. Meanwhile, the dollar index declined nearly 0.3 per cent, supporting gold prices. A decline in the US dollar makes gold cheaper in other currencies, enhancing its demand.Rahul Kalantri, VP of commodities at Mehta Equities, said that gold has support at $3,195-3,175 and resistance at $3,245-3,260. Silver has support at $32.10-31.80 and resistance at $32.65-32.85.“Gold prices climbed above $3,220 per ounce on Monday, rebounding from last week’s steepest decline in six months. The recovery was fueled by renewed safe-haven demand after Moody’s downgraded the US sovereign credit rating, citing fiscal imbalances and rising debt costs,” he mentioned.Despite recent optimism from a temporary US-China tariff truce, weak US economic indicators and subdued inflation have led markets to price in additional interest rate cuts by the Federal Reserve, offering further support to bullion.“In INR, gold has support at Rs 91,850-91,480 while resistance at Rs 92,850-93,490. Sliver has support at Rs 94,480-94,850 (per kg) while resistance at Rs 95,950-96,650,” he added.Gold prices have remained rangebound over the last two sessions due to a lack of positive triggers as the US reached a temporary truce with China and tensions between India and Pakistan have also eased.However, domestic buying ahead of the upcoming wedding season in India will ensure that the downside is capped and prices remain at elevated levels, said Aksha Kamboj, Vice President, India Bullion and Jewellers Association (IBJA).–IANSna/

Mumbai, May 19 (IANS) The domestic benchmark indices opened flat on Monday amid mixed global cues, as selling was seen in the IT sector in the early trade.At around 9.32 am, Sensex was trading 3.88 points or 0.00 per cent up at 82,326.71 while the Nifty climbed 14.70 point or 0.06 per cent at 25,034.50.Nifty Bank was up 134.25 points or 0.24 per cent at 55,489.15. The Nifty Midcap 100 index was trading at 57,203.80 after rising 143.30 points or 0.25 per cent. Nifty Smallcap 100 index was at 17,701.75 after climbing 141.35 points or 0.80 per cent.According to analysts, “they now have only the October 2024 peak ahead at 25,235, which is in close vicinity, before 26,277, the lofty peak of September stares at us. This warns us to be guarded against sudden withdrawal in risk appetite and buying interest as we push ahead”.”With this in the backdrop we will begin the week expecting continuation of an uptrend, with an intraday downside marker at 24,950. However, brace for declines, should the upswings there of fail to clear 25,235 or if there is an outright breakdown past 24,870/807 region,” said Anand James, Chief Market Strategist of Geojit Investments Limited.The prime mover of the ongoing rally in the Indian market is the sustained FII inflows of around Rs 23,800 crore so far this month.“Of course, the decline in global trade tensions, the rally in global markets led by the US and the India-Pak ceasefire have created the setting for this rally,” said experts.Meanwhile, in the Sensex pack, Infosys, TCS, IndusInd Bank, HCL Tech, Tech Mahindra, M&M, Eternal, Reliance and L&T were the top losers. Whereas, NTPC, Bajaj Finance, Tata Motors, Sun Pharma, Bajaj Finserv, PowerGrid, SBI and HDFC Bank were the top gainers.In the Asian markets, China, Hong Kong, Japan, Bangkok and Seoul were trading in red, whereas, only Jakarta was trading in green.In the last trading session on Friday, Dow Jones in the US closed at 42,654.74, up 331.99 points, or 0.78 per cent. The S&P 500 ended with a gain of 41.45 points, or 0.70 per cent, at 5,958.38 and the Nasdaq closed at 19,211.10, up 98.78 points, or 0.52 per cent.On the institutional front, foreign institutional investors (FIIs) were net buyers of equities worth Rs 8,831.05 crore on May 16, while domestic institutional investors (DIIs) purchased equities worth Rs 5,187.09 crore.–IANSskt/na

Seoul, May 19 (IANS) South Korea should establish a detailed “win-win” strategy to seize business opportunities amid the United States’ push to revitalise its shipbuilding industry, a local business lobby said on Monday.The recommendation follows a recent meeting between U.S. Trade Representative Jamieson Greer and top executives from major Korean shipbuilders HD Hyundai and Hanwha Ocean Co. to discuss cooperation in shipbuilding, reports Yonhap news agency.”The Korean government and shipbuilding companies need to present sector-specific proposals aligned with the U.S. government’s plans to build new vessels, in order to create mutually beneficial synergies,” the Federation of Korean Industries (FKI) said, citing a new report.According to the report, the U.S. is expected to place orders for between 403 and 448 vessels by 2037, including commercial ships, liquefied natural gas (LNG) carriers and naval ships.The projected orders include 100 commercial vessels, 42 to 65 LNG carriers, 10 icebreakers, 129 combat ships and 67 vessels for the National Defense Reserve Fleet.The number of U.S. vessel orders is likely to increase further as the country aims to expand its commercial fleet to 250 ships under the SHIPS for America Act, proposed in April. The act also mandates that by 2047, 15 percent of outbound U.S. LNG shipments must be transported on domestically built vessels.Additionally, the U.S. Navy recently announced plans to procure 364 new ships over the next 30 years. In January, U.S. President Donald Trump pledged that the U.S. would order 40 large icebreakers.”Korean shipbuilders should engage in close consultations with the U.S. government when participating in local shipbuilding projects and ensure consistent support from U.S. authorities,” Professor Ryu Min-chul of Korea Maritime and Ocean University said in the report titled “Analysis of the U.S. Shipbuilding Industry and Implications for Korea–U.S. Cooperation.”Ryu also warned that Korean companies must be mindful of potential business risks stemming from possible changes in U.S. shipbuilding policies.—IANSna/

Seoul, May 19 (IANS) South Korea and the United States are scheduled to hold a second round of technical discussions in Washington this week regarding the latter’s sweeping tariff scheme, as the two sides are working toward forging a “package” deal by early July, officials said on Monday.A South Korean government delegation is expected to depart for Washington around Tuesday to engage in the talks, which could begin as early as Tuesday (US time), according to officials from the Ministry of Trade, Industry and Energy.The two sides were to discuss six key areas of trade imbalances, non-tariff measures, economic security, digital trade, country of origin of products and commercial considerations, they added, reports Yonhap news agency.Last month, the U.S. began imposing reciprocal tariffs on partner nations, including 25 percent duties on South Korea, only to pause them shortly afterward to allow for one-on-one negotiations.Seoul and Washington subsequently agreed to work toward a “July package” deal on trade and other related issues before July 8, when Trump’s 90-day pause on reciprocal tariffs is to expire.Following the first round of working-level discussions in Washington earlier this month, Industry Minister Ahn Duk-geun and Trade Minister Cheong In-kyo each held separate meetings with U.S. Trade Representative (USTR) Jamieson Greer on South Korea’s southern island of Jeju last week, where they reiterated their request for a complete tariff exemption.”We are closely watching the situation, as there is a possibility that the U.S. may present specific demands related to tariffs and economic cooperation during the upcoming session,” a ministry official said.”We first need to identify the U.S. demands in order to conduct necessary domestic discussions,” he added.The South Korean government has said it will approach the talks with the U.S. in a measured and prudent manner, without haste, as the country faces a presidential election on June 3.–IANSna/