The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has approved four projects to expand the track network of Indian Railways with an investment of Rs 18,658 crore, according to an official statement issued on Friday.

The four projects covering 15 districts in three states - Maharashtra, Odisha, and Chhattisgarh - will increase the existing network of Indian Railways by about 1,247 km.

These projects include Sambalpur-Jarapda 3rd and 4th Lines, Jharsuguda-Sason 3rd and 4th Lines, Kharsia-Naya Raipur-Parmalkasa 5th and 6th Lines, and Gondia-Balharshah doubling

The enhanced line capacity will improve mobility, providing enhanced efficiency and service reliability for Indian Railways. These multi-tracking proposals will ease operations and reduce congestion, providing the much-needed infrastructural development on the busiest sections across Indian Railways. The projects are in line with PM Modi’s vision of a New India, which will make people of the region "Aatmanirbhar" with comprehensive development in the area, which will enhance their employment/ opportunities, the official statement said.

Indian stock markets on Friday ended in the red for the second day in a row, as investors turned cautious after US President Donald Trump’s reciprocal tariffs announcement.

The sensex fell by 930.67 points, or 1.22 per cent, to close at 75,364.69. During the day, the index moved between an intra-day high of 76,258.12 and a low of 75,240.55.

The broader Nifty also dropped sharply and settled at 22,904.45, down by 345.65 points, or 1.49 per cent during the intra-day trade.

"The recent implementation of higher-than-anticipated US tariffs has had a significant impact on global markets, triggering a bearish trend as investors assess the broader implications,” said market experts.

“Domestically, while the direct impact of these tariffs is relatively moderate compared to other major economies, it remains more substantial than initially projected,” he added.

The office market across top seven cities in India offers an estimated Rs 45,000 crore (approximately $5.3 billion) opportunity in retrofitting (improving the existing building design and engineering, integrating new technology, enhancing user experience, and incorporating climate-adaptive features and capabilities) and upgrading existing buildings, according to a report on Friday.

Approximately 62 per cent of India's Grade A office stock across top seven cities, equivalent to 530.8 million square feet (sq ft), requires upgrades – spanning from light to moderate to deep interventions.

The Silicon Valley of India leads in office retrofitting opportunities offering the largest potential among major Indian cities, with 155.9 million sq ft of Grade A stock, requiring an estimated Rs 14,410 crore in upgrade spends.

The HSBC PMI Index for India’s services activity remained buoyant at 58.5 in March, which is well above its long-run average of 54.2 but a tad lower than February’s reading of 59, according to data released on Friday.

Meanwhile, the HSBC India Composite PMI Output Index increased to a 7-month high of 59.5, from 58.8 in February, to record another month of above-trend growth.

The 50.0 mark in the HSBC PMI index represents the crucial level that separates growth from contraction.

“Domestic and international demand remained fairly buoyant in March, despite being sequentially a tick lower than the month before," said Pranjul Bhandari, chief India economist at HSBC.

Indian frontline indices opened in the red on Friday following global sell-off in the equity markets in reaction to the reciprocal tariffs announced by US President Donald Trump.

At 9:23 am, Sensex was down 544 points or 0.71 per cent at 75,750 and Nifty was down 194 points or 0.82 per cent at 23,059.

Midcap and smalcap stocks witnessed selling pressure in the early trading hour. Nifty midcap 100 index was down 669 points or 1.34 per cent at 51,464 and Nifty small 100 index was down 253 points or 1.56 per cent at 16,001.

In a significant move to help passengers recover lost or stolen mobile phones, the Railway Protection Force (RPF) has successfully onboarded with the Central Equipment Identity Register (CEIR) portal of the Department of Telecommunication.

CEIR portal is DoT’s crucial digital tool to recover mobile phones by blocking the IMEI number, tracking and managing of lost or stolen devices.

This initiative follows the success of a pilot program in the Northeast Frontier Railway. The all-India roll out of this program across Indian Railways on Thursday would benefit millions of Railway Passengers.

In the inauguration launch and training programme for CEIR portal, RPF Director General Manoj Yadava said: “The collaboration of RPF with the Department of Telecommunication for operating CEIR portal marks a significant milestone in railway security. By harnessing digital technology, we aim to provide passengers with a transparent and effective mechanism to recover their lost or missing mobile phones. This initiative strengthens law enforcement capabilities and fosters greater trust among railway commuters. We remain committed to safeguarding passenger property and ensuring a secure travel experience across the railway network.”

The Indian stock market closed lower on Thursday as investors remained cautious following US President Donald Trump's announcement of new tariffs.

The new tariff structure includes a 10 per cent tax on all US imports, with higher tariffs on countries with a trade surplus. India will now face a 27 per cent tariff.

The Sensex fell 322.08 points, or 0.42 per cent, to close at 76,295.36. During the day, the index fluctuated between an intraday high of 76,493.74 and a low of 75,807.55.

The Nifty also ended lower, down 82.25 points, or 0.35 per cent, at 23,250.10.

India’s economy is set to grow at 6.7 per cent in FY26, driven by a cyclical recovery and steady market performance, a new report said on Thursday.

Cyclical recovery refers to the phase in an economic cycle that follows a recession or slowdown, during which economic activity, consumer spending, and business investments start to rise.

Over the past five years, India has witnessed strong earnings growth, with the NIFTY index recording a 20 per cent compound annual growth rate (CAGR), according to a Lighthouse Canton report.

As the economy moves forward, the next phase of growth will depend on key factors such as government capital expenditure, tax benefits for the middle class, and improved consumer demand.

These elements are expected to support earnings recovery and market confidence in 2025, the report said.

State Bank of India (SBI) and Citi on Thursday announced a social loan facility of $295 million to support smallholder farmers in India.

The financing is specifically directed towards smallholder farmers in India, to support them to improve their agricultural productivity, enhancing their financial well-being, the banks said in a statement.

The SBI will utilise the facility to finance its Kisan Credit Card loan portfolio, to help meet the credit requirements of the agricultural sector, and within this, smallholder farmers.

Jayati Bansal, Dy Managing Director (International Banking Group), SBI, said that leveraging our extensive network, “we aim to reach small and marginal farmers who are at the core of India’s agriculture sector but often lack access to essential credit resources”.

Indian equity indices opened lower on Thursday following a sharp sell-off in global markets after the US President Donald Trump announcement of reciprocal tariffs.

At around 9:20 am, Sensex was down 470 points or 0.61 per cent at 76,197, and Nifty was down 105 points or 0.45 per cent, at 23,227.

In early trading hour, midcap and smallcaps were trading with minor gains compared to largecap. Nifty midcap 100 index was up 125 points or 0.24 per cent at 52,183 and Nifty smallcap 100 index was up 121 points or 0.75 per cent at 16,283.

On the sectoral front, Auto, IT, PSU bank, FMCG, metal and media were in the top laggars. Pharma, realty and energy were major gainers.

In the Sensex pack, Infosys, HCL Tech, TCS, Tech Mahindra, Tata Motors, M&M, Bharti Airtel, Reliance, HDFC Bank, Maruti Suzuki and Kotak Mahindra Bank were major losers. Sun Pharma, Power Grid, NTPC, Bajaj Finance, Bajaj Finserv, Titan and UltraTech cement were major gainers.