Mumbai, July 22 (IANS) Mumbai’s luxury real estate market (Rs 10 crore and above) has set a new benchmark in the first half of 2025, recording the highest-ever half-yearly sales of Rs 14,750 crore across primary and secondary transactions, a report showed on Tuesday.This is an 11 per cent increase in luxury housing sales during H1 2025 compared to Rs 12,300 crore in H1 2024.The overall luxury real estate market hit an all-time high, with a record Rs 28,750 crore in sales value recorded between H2 2024 and H1 2025, according to the report by India Sotheby’s International Realty and CRE Matrix.The surge in luxury sales reflects strong momentum in residential demand, driven by rising wealth, investor confidence, and the growing purchasing power of high-net-worth individuals.“Mumbai’s luxury real estate market is at a pivotal moment. Record sales in H1 2025 signal sustained appetite for ultra-premium homes, especially in established micro-markets like Worli, Prabhadevi, Tardeo, Malabar Hill, and Bandra West — driven by better infrastructure and a spate of high-quality new launches,” said Sudershan Sharma, Executive Director, India Sotheby’s International Realty.The primary market accounted for nearly three-quarters of sales volume, while the secondary market contributed Rs 3,750 crore, both at their highest in five years.Worli retained its lead as the most preferred luxury destination, contributing 22 per cent of primary sales value. Other thriving micro-markets included Bandra West (192 per cent growth), Tardeo (254 per cent growth), Prabhadevi, and Malabar Hill.“The 45–65-year age group remained the largest segment of buyers, while those above 65 years grew to 15 per cent of sales. Apartments between 2,000–4,000 square feet dominated, representing 70 per cent of primary sales, the report mentioned.“During this period, 1,335 luxury units were sold, the highest for any 12-month stretch. The steady rise, particularly in the Rs 20-Rs 40 crore segment, points to sustained buyer interest and a confident, though increasingly selective, high-end luxury buyer,” said Abhishek Kiran Gupta, Co-founder and CEO, CRE Matrix.—IANSna/

New Delhi, July 22 (IANS) Gujarat has witnessed registration of 37,56,390 new Micro, Small, and Medium Enterprises (MSMEs) in the last five years, said Union Minister of State for MSMEs, Shobha Karandlaje, in the Parliament.In a written reply to the Rajya Sabha, Karandlaje said that during the same period, 8,779 MSMEs have closed down in the state.“As per data from Udyam Registration Portal, a total number of 8,779 MSMEs have closed in Gujarat and a total of 2,892 MSMEs have closed in Andhra Pradesh from 01.07.2020 till 15.07.2025, whereas in the same period, the number of new registrations of MSMEs in Gujarat and Andhra Pradesh is 37,56,390 and 33,78,109 respectively,” the Union Minister stated.She also highlighted a number of initiatives taken by the government to support the MSME sector in the country.Meanwhile, Union Minister Jitan Ram Manjhi told the Rajya Sabha that more than 34 crore people have gained employment through MSMEs since 2014 via the Udyam and Udyam Assist portals.Responding to a question in the Upper House, the Minister of MSMEs said there is no shortage of funds or workers in the sector. He also cited examples of traditional workers, such as cobblers, who have received financial support under schemes like the PM Vishwakarma Yojana.The number of MSMEs in India has crossed 6 crore, the minister said, adding that lending to the sector has surged from Rs 12 lakh crore a decade ago to around Rs 30 lakh crore.In his Budget speech, Prime Minister Narendra Modi had announced that the guarantee cover for MSME loans would be doubled to Rs 20 crore. The government also plans to roll out customised credit cards with a Rs 5 lakh limit to meet working capital needs.–IANSrvt/

New Delhi, July 22 (IANS) The increasing number of space startups and private sector contributions are expected to be the highlight for the National Space Day celebrations, said the Ministry of Science and Technology.National Space Day is celebrated on August 23rd to commemorate the successful landing of the Chandrayaan-3 mission’s Vikram lander on the South Pole of the Moon, making India the first nation to achieve the feat.The day recognises India’s significant achievement in space exploration and its growing prowess in space technology.“The upcoming National Space Day will highlight private sector contributions, with more than 300 startups expected to participate in exhibitions and live demonstrations,” the Ministry said, during a high-level joint review of all Science Ministries, in the national capital.The meeting, chaired by Union Minister of State (Independent Charge) for Science and Technology Dr. Jitendra Singh, assessed cross-sectoral scientific initiatives and called for outcome-based coordination across departments in line with India’s Vision 2047 goals.“Startups are now integral to our space innovation ecosystem,” an official said, noting that startup-led exhibits will anchor this year’s celebrations.Singh was briefed on progress under the government’s flagship BioE3 Policy — Biotechnology for Economy, Environment and Employment.The BioE3 Policy, approved by the Cabinet in August 2024, aims to position India as a global biomanufacturing hub by integrating biotechnology with artificial intelligence.Singh was informed about the first round of DBT-BIRAC joint calls, under the BioE3 Policy, which received over 2,000 proposals.He described the initiative as “a national mission to power green growth, bioeconomic expansion, and employment generation.”Further, the meeting also focussed on educational outreach. With growing demand from younger students — including those in Classes 6 to 10 — the Ministry noted exploring ways to scale early science mentorship and innovation exposure.Singh stressed the need for better inter-ministerial alignment, instructing departments to route key proposals through the Principal Scientific Adviser for strategic prioritisation. “We must avoid overlaps and work in unison to achieve national outcomes,” he said.The MoS also reviewed a proposal to launch 100 post-doctoral fellowships for Indian scientists abroad – a programme which aims to reverse brain drain and build domestic research capacity.“We must offer meaningful opportunities to attract our talent back,” Singh said.–IANSrvt/

New Delhi, July 22 (IANS) Driven by easing inventory challenges and renewed vendor activity, India’s smartphone market rebounded in the April-June period, growing 7 per cent year to reach 39 million units, according to a new report.The growth was primarily fuelled by fresh launches concentrated in the second quarter, following a cautious Q1 where vendors held back due to elevated inventory levels, according to Canalys (now part of Omdia).”Heightened competition beyond the top five is reshaping India’s smartphone landscape, as premium incumbents and design-led challengers refine their playbooks,” said Sanyam Chaurasia, Principal Analyst.Apple ranked sixth in Q2 2025, with the iPhone 16 family accounting for over 55 per cent of its shipments, while the iPhone 15 and 13 continued to drive demand across price tiers.According to the report, Vivo (excluding iQOO) led the market with 8.1 million units shipped and a 21 per cent market share. Samsung followed in second place with 6.2 million units and a 16 per cent market share.OPPO (excluding OnePlus) climbed to third with 5 million units, edging past Xiaomi, which also shipped 5 million. realme completed the top five with 3.6 million units.“With limited organic demand, India’s smartphone market in H2 2025 will hinge more on channel execution than product launches,” stated Chaurasia.Brands are actively locking inventory with distributors and retailers through channel incentive programs ahead of the upcoming festive season in India. These include high-value rewards – ranging from foreign trips to vehicle rewards – tied to performance during Monsoon sales, Durga Puja and Diwali cycles, the report said.Retail infrastructure upgrades are gaining pace, with improved booth setups, structured shelf placements and stricter quarterly targets for promoter engagement and in-store execution.At the same time, brands are doubling down on affordability by expanding long-tenure financing options, especially for mid- to high-end models.—IANSna/

New Delhi, July 22 (IANS) There are over 1.52 crore active Goods and Services Tax (GST) registrations and one-fifth of registered GST taxpayers in India now have at least one woman, and 14 per cent of registered taxpayers have all female members (on the basis of the constitution of business), an SBI report revealed on Tuesday.This representation is substantially high in limited liability partnership (LLP) and private limited companies and the vectors of increased formalization and momentum in corporate playbook augur well for equitable representation in the offing, according to the SBI’s Economic Research Department report.“This data, along-with 15 per cent share of women in overall income taxpayers and 40 per cent in overall deposits, mirrors women empowerment,” said Dr Soumya Kanti Ghosh, Group Chief Economic Advisor, SBI.In just five years (FY21-FY25), gross GST collection doubled and even average monthly gross GST collection is now Rs 2 lakh crore. Top five states account for 41 per cent of gross revenue and six states have crossed Rs 1 lakh crore mark, Dr Ghosh added.States having GST collection of more than Rs 1 lakh crore have Integrated Goods and Service Tax (IGST) share of more than 30 per cent in their total domestic collection, emphasising the contribution of larger states in pushing GST collection across other states.On July 1, the GST completed eight years since its rollout. Introduced in 2017 as a major step towards economic integration, GST replaced a maze of indirect taxes with a single, unified system.It made tax compliance easier, reduced costs for businesses, and allowed goods to move freely across states. By improving transparency and efficiency, GST helped lay the foundation for a stronger, more integrated economy.“Our results indicate that convergence pattern strengthens over time, peaking in FY25 across all quantiles. By FY25, convergence is strong across the spectrum, indicating a broad-based equalising effect of GST,” said Dr Ghosh.Surprisingly, some of the larger and richer states like Telangana, Tamil Nadu, Kerala, Andhra Pradesh and even Karnataka have low share in active GST taxpayers vis-a-vis the state’s share in overall GSDP (Gross State Domestic Product).“Interestingly, states like Uttar Pradesh, Bihar and Gujarat share in total GST taxpayers is larger than the state’s share in overall GSDP. This indicate that there is still a vast untapped potential in GST in these states,” the report mentioned.–IANSna/

Mumbai, July 22 (IANS) The Indian stock market opened in the green on Tuesday as heavyweight banking stocks continued to lead amid mixed global cues.At 9.23 am, Sensex was up 152 points or 0.19 per cent at 82,359 and Nifty was up 38 points or 0.15 per cent at 25,129.Banking stocks were leading the market. Nifty Bank was up 0.30 per cent, higher than the main indices.Buying was also seen in the midcap and smallcap stocks. Nifty midcap 100 index was up 45 points or 0.08 per cent at 59,514 and Nifty smallcap 100 index was up 80 points or 0.42 per cent at 19,038.Among the sectoral indices, PSU bank, financial services, metal, media, energy and private bank were in the green. Pharma, IT, auto and FMCG were in the red.In the Sensex pack, Eternal, Trent, Tata Steel, ICICI Bank, HDFC Bank, TCS, BEL, HCLTech, NTPC and SBI were top gainers. Tata Motors, Bajaj Finserv, Sun Pharma, M&M, Bharti Airtel, Maruti Suzuki, L&T, HUL and Asian Paints were top losers.”The Nifty 50, after a strong rebound from its intraday low of 24,900, surged nearly 225 points to close above the 25,000 mark, forming a bullish candlestick pattern. The rebound from the 50-day EMA indicates a potential trend reversal, though confirmation through follow-up buying is awaited,” said Mandar Bhojane of Choice Equity Broking Private Limited.On the upside, a sustained move above 25,150 could pave the way toward 25,250. Key support levels remain at 25,000 and 24,900, which may offer favourable risk-reward opportunities for long positions, he added.Most Asian markets kept to a tight range. Tokyo and Seoul were in the red while Shanghai, Hong Kong and Jakarta were in the green. US markets closed in the mixed zone. Dow Jones was in the red and Nasdaq was in the green.On July 21, foreign institutional investors (FIIs) were net sellers for the third consecutive session, offloading equities worth Rs 1,681 crore. In contrast, domestic institutional investors (DIIs) remained strong buyers for the 11th straight day, purchasing equities worth Rs 3,578 crore.–IANSavs/na

Seoul, July 22 (IANS) Samsung Display said on Tuesday its latest foldable organic light-emitting diode…

Seoul, July 22 (IANS) Hyundai Motor Group’s export of electric vehicles (EVs) from South Korea to the United States fell nearly 90 per cent on-year in the first five months of the year, as the automaker shifts production of America-bound vehicles to its new U.S. facility, according to industry data on Tuesday.According to the data from the Korea Automobile & Mobility Association (KAMA), Hyundai Motor and Kia combined exported 7,156 EVs to the U.S. between January and May this year, down 88 percent from 59,705 units during the same period a year earlier, reports Yonhap news agency.Hyundai Motor Co., including its premium Genesis line, shipped 3,906 units, marking an 87 percent decline, while Kia’s exports dropped 89.1 percent to 3,250 units.The volume represents the lowest level for the January-May period since Hyundai Motor Group began accelerating its electrification strategy in 2021.The decline is largely attributed to Hyundai’s ongoing efforts to localise EV production in the U.S.In the first half of the year, the automaker completed construction of its dedicated EV plant, Hyundai Motor Group Metaplant America, in Georgia. It produced 28,957 units of the Ioniq 5 and 4,187 units of the Ioniq 9 at the facility.At the same time, Hyundai and Kia have also faced challenges in the U.S. EV market. According to industry tracker Wards Intelligence, the group sold 44,555 EVs in the U.S. in the first half of 2025, down 28 percent from a year earlier.Industry watchers say that the outlook for the remainder of the year may be bleaker due to the scheduled termination of U.S EV tax credits in September under the One Big Beautiful Bill Act, a major tax reform bill spearheaded by U.S. President Donald Trump.A recent report by the Federation of Korean Industries (FKI) recently estimated Hyundai Motor Group could lose up to 45,828 units in annual U.S. EV sales, equivalent to US$1.95 billion in sales. The U.S. market accounted for 36 percent of Hyundai Motor Group’s total EV exports last year.—IANSna/

New Delhi, July 22 (IANS) More than 1.6 crore candidates have been trained under the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) over the last 10 years, out of which 1.29 crore have been certified (as on June 30).Minister of State (Independent Charge) of Skill Development and Entrepreneurship (MSDE), Jayant Chaudhary, said in a written reply in the Lok Sabha that under other programmes of National Skill Development Corporation (NSDC), around 1.74 crores candidates have been trained.“NSDC has facilitated over 2.32 lakh trainer certifications through Awarding Bodies. The trainer-to-beneficiary ratio varies depending on the type of training, batch size, sector norms and geography,” the minister informed.For the implementation of PMKVY, MSDE released Rs 1,538.29 crore during FY 2024-25.Under PMKVY 4.0, training is being imparted in accredited and affiliated Training Centres (TCs), monitoring of TCs through physical and virtual mode. Legal action such as filing FIR, blacklisting, suspension, financial recovery, etc. are taken against non-compliant TCs.PMKVY is implemented across the country and its benefits are available to all the sections of society including the marginalised communities.To promote inclusivity, mobilising candidates from marginalised communities through targeted outreach, industry-aligned curriculum offerings, and the introduction of futuristic courses to bridge the digital divide are emphasised.“Also, to ensure equitable skill development, accessibility is promoted by mandating geographic spread, with training centres across districts, including dedicated efforts under Special Projects and specific allocations for Aspirational and Left-Wing Extremism (LWE)-affected districts,” the minister noted.Under PMKVY, MSDE has undertaken a range of strategic initiatives aimed at enhancing the employability of youth through market aligned skill training.A comprehensive mapping of job demand is undertaken through insights driven from regular skill gap studies conducted across national, state/district levels, District Skill Development Plans (DSDPs), and industry-specific inputs representing over key sectors and all job roles are aligned with the National Skills Qualification Framework (NSQF) to ensure that the curriculum is responsive to evolving market trends and future workforce requirements.Under PMKVY 4.0, job roles in Artificial Intelligence, Electric Vehicle, Robotics, 5G, and Data Analytics have been introduced to enhance employability in future-ready sectors.—IANSna/

Mumbai, July 21 (IANS) Chief Minister Devendra Fadnavis on Monday said that Maharashtra has taken the lead in digital regulation and systems, asserting that digital governance is not just a requirement but a necessity.

“All government services, government schemes will reach the people easily through this online system. Common people will get all government services in one place. ‘No Office Day’ means that no person will have to come to the office and offline processes will end,” he said at the MoU signing function between the Directorate of Information Technology and the ‘Samagra’ organisation.Stating that all individuals must participate in this online process, CM Fadnavis said that all government services are being brought on platforms like WhatsApp because it is becoming easier for common people to use WhatsApp.“A schedule will be set for this process, and targets and time limits will also be set for each department. Therefore, it will be possible to reach these services to the common people as soon as possible,” he added.CM Fadnavis said that if all the departments work in coordination to provide all government services online, government services will be made available to the people efficiently, and this will increase credibility.He wished for the fundamental transformation that would be brought about by the agreement signed with the Information Technology Department and Samagra.On this occasion, Cultural Affairs, Information and Technology Minister Ashish Shelar, Additional Chief Secretary to the Chief Minister and Additional Chief Secretary of the Cultural Affairs Department Vikas Kharge, Additional Chief Secretary of the Home Department Iqbal Singh Chahal, Principal Secretary of the Rural Development Department Eknath Dawle, Managing Director of the Directorate of Information Technology Kanhuraj Bagate, Development Commissioner Dipendra Singh Kushwaha, Founder and CEO of ‘Samagra’ Gaurav Goyal, Chief Technician Rahul Kulkarni, Manager Anay Gogate, Director Alkesh Vadawani among others were present.–IANSsj/dan