A panel of industry experts and retired bureaucrats has called for urgent policy intervention to raise import duties on primary and downstream aluminium products to 10 per cent and impose a 7.5 per cent duty on aluminium scrap to check the surge in cheap imports coming into the country.

The step is seen in keeping with the approach adopted towards other key non-ferrous metals such as zinc, tin and lead.

Speaking at the webinar, 'Advancing Aluminium for Atmanirbhar Bharat: Key Imperatives', organised by Bureaucrats India, the panel said these measures are seen as critical for mitigating the surge in imports, which currently account for 56 per cent of domestic demand, and addressing the growing threat of India becoming a dumping ground for low-quality aluminium.

LTIMindtree posted a 7.1 per cent year-on-year increase in revenue to Rs 9,661 crore but the company's net profit fell during the October-December quarter of the current financial year amid rising expenses.

The IT major announced a net profit of Rs 1,087 crore which was 7.1 per cent lower than the corresponding figure for the same quarter of the previous year. It also represented a 13.2 per cent decline over the net profit in the preceding quarter.

LTIMindtree said it has 742 active clients as of December 31, 2024, and added 5 big clients in the $5 million to $50 million category on a year-on-year basis.

The IT major now has 86,800 professionals on its rolls as of December 31, 2024, of which 2,362 were added in Q3 (October-December). The trailing 12 months attrition of the company stands at 14.3 per cent.

The company's banking and financial services segment grew 7.5 per cent on-year, on the back of new deals with clients.

Apple, with its aspirational image and rising footprint, has entered the top 5 smartphone players in India for the first time, garnering nearly 10 per cent market share by volume in the October-December quarter (Q4) of 2024, industry data showed on Thursday.

According to Counterpoint Research, which analysed Apple's strategic approach, the implementation of a comprehensive three-dimensional (3D) strategy, centred around key pillars of domestic manufacturing, distribution and driving premiumisation, has helped the brand break into the top 5 smartphone players in the country.

“This multi-faceted approach reflects Apple's commitment to staying ahead in the market and catering to the evolving needs of consumers. There is a significant rise in the premium segment as we are witnessing incremental purchase behaviour in rising middle class in India, especially youth,” Tarun Pathak, Research Director, Mobile Devices and Ecosystems at Counterpoint Research, told.

IT major Infosys on Thursday reported 11.5 per cent increase in net profit at Rs 6,806 crore in the third quarter (Q3) this fiscal, from Rs 6,106 crore in the year-ago period.

The digital services and consulting leader delivered strong and broad-based performance with $4,939 million in Q3 revenues, growth of 1.7 per cent sequentially and 6.1 per cent (year-on-year) in constant currency.

Operating margin for Q3 was at 21.3 per cent, an increase of 0.2 per cent sequentially. Free cash flow for Q3 was highest ever at $1,263 million, growing 90 per cent year on year, the company said in a statement.

“Our strong revenue growth sequentially in a seasonally weak quarter and broad-based year on year growth, along with robust operating parameters and margins, is a clear reflection of the success of our differentiated digital offerings, market positioning, and key strategic initiatives,” said Salil Parekh, CEO and MD.

Indian tourists visiting the United Arab Emirates (UAE) will be able to use Unified Payments Interface (UPI) to make payments over a wider range of merchant locations with NPCI International Payments Limited (NIPL) announcing that it has entered into a partnership with Magnati, a payment solutions provider in the Middle East.

The collaboration aims to expand the QR-based merchant payment network in the UAE by enabling more merchants to provide UPI as a payment method to Indian travellers.

The partnership will be initially enabled at Dubai Duty-Free, catering specifically to Indian tourists. It will later be expanded to other sectors such as retail, hospitality, transport, and supermarkets, according to an NIPL statement.

NIPL, the international arm of the National Payments Corporation of India (NPCI), said this partnership would provide seamless payment options to more than 12 million Indians travelling to Dubai and the UAE annually.

LinkedIn on Thursday rolled out a new artificial intelligence-(AI) based feature that can help both employment seekers find the right job and recruiters to get the apt talent.

The new LinkedIn feature will help job seekers understand how their skills and experience line up with open positions.

“With one click, job seekers get detailed insights into which qualifications they meet and which ones they might be missing so they can decide if they should apply,” LinkedIn said, noting that it will help them better focus their search on the opportunities where they’re more likely to hear back.

“Job match will be rolling out globally in English in the coming weeks with other languages coming soon,” said Rohan Rajiv, Product Lead on Jobseeker, Jobs Marketplace AI, Employer Brand - LinkedIn Talent Solutions.

The feature comes as the professional networking site’s new report noted how job seeking and recruiting have become challenging.

India's electronics exports surged by 35.1 per cent to touch a two-year high of $3.58 billion in December 2024 from $2.65 billion in the same month of the previous year, reflecting the increase in foreign demand for high- value Indian goods and rising domestic production capacities, data compiled by the Commerce Ministry showed.

Commerce Secretary Sunil Barthwal said, "In December 2024, electronic goods exports have been highest so far in the last 24 months."

Electronics goods have emerged as the fastest-growing segment in India's export basket as new manufacturing capacities have come up in the country driven by the success of the Centre's production-linked incentive (PLI) scheme.

The country's electronic exports jumped by a robust 27.4 per cent to $22.5 billion in April-November of 2024-25, from $17.66 billion during the same period in 2023-24.

Hyundai Motor and Kia, South Korea's top automakers, are expected to release their annual earnings results next week, drawing attention as to whether they can extend their streak of record-breaking performances, industry watchers said on Thursday.

According to an analysis of securities industry forecasts by Infomax over the past three months, Hyundai Motor is estimated to report sales of 173.1 trillion won ($118.9 billion) and an operating profit of 14.8 trillion won for 2024.

While sales would mark a 6.4 per cent increase, operating profit is projected to decline by 1.9 per cent.

Kia is estimated to report 106.8 trillion won in sales and 12.8 trillion won in operating profit, representing on-year growth of 7.1 percent and 10.2 percent, respectively.

If these forecasts are realised, Kia would succeed in achieving a record annual performance, surpassing 100 trillion won in sales for the first time in its history.

India's trade deficit narrowed to $21.94 billion in December compared to the corresponding figure of $32.84 billion for November, as exports grew while imports declined on a month-to-month basis.

Merchandise exports in December increased to $38.01 billion compared to $32.11 billion in November, while imports declined to $59.95 billion from $64.95 billion in November.

However, on a year-on-year basis, the trade gap widened during December compared to $18.76 billion in December 2023. The merchandise exports declined by 1 per cent in December 2024 from $38.39 billion in the same month of the previous year while imports rose by 4.8 per cent from $57.15 billion in December 2023.

The Centre's Department for Promotion of Industry and Internal Trade (DPIIT) has entered into a strategic partnership with ITC Ltd to promote entrepreneurship and innovation in the country’s startup ecosystem, according to an official statement issued on Wednesday.

This collaboration charts a shared vision to accelerate startup growth and technological advancement besides creation of viable market opportunities for startups across the country, the statement said.

The Memorandum of Understanding (MoU) paves the way for a partnership where ITC’s vast experience and expertise with its extensive market network will complement the DPIIT’s initiative for supporting startups across the country.

Under this partnership, ITC is looking to deploy startup solutions in key areas such as digital platforms for Manufacturing Execution Systems (MES), integrating renewable energy opportunities for manufacturing locations and energy storage systems.