End dependence days: What India should and should not build

An Air India flight experienced a rare hydraulic control loss, injuring 24 passengers. The aircraft's flight data recorders showed a sudden pressure drop across all systems. This incident caused the elevators and ailerons to briefly stop responding to pilot commands. While the captain is under scrutiny, initial data suggests no human error caused the event. Investigators are examining a hydraulic pressure switch to determine the exact cause.

Quick commerce firms are engaging with manufacturers to boost sales of large appliances. Established e-commerce players are also striving for quicker delivery options. Some businesses are considering models that utilize manufacturer warehouses alongside retail locations. This strategic move is intended to elevate average order values and enhance profit margins, reflecting the evolving consumer demand for speedy delivery across various categories.

The Supreme Court fined Reliance Industries ten lakh rupees for delaying a suit. NTPC filed the natural gas supply contract case against Reliance back in 2005. The court noted Reliance's continuous obstruction of the legal proceedings for two decades. This action came after the Bombay High Court's decision regarding witness affidavits. The apex court expressed strong disapproval of the prolonged litigation and its impact.

Thermo Fisher Scientific is amplifying its investment footprint in India, driven by the strong anticipated growth in the biosimilars and innovative medicines sectors. With projections indicating a substantial rise in India's biosimilars exports by 2030, local pharmaceutical companies are pivoting towards advanced biologics and research initiatives. To foster scientific talent, Thermo Fisher has also established a bioprocess center in Hyderabad for comprehensive training.

Neo Wealth Partners acquired a 9.9% stake in Keertana Finserv for Rs 230 crore. This investment supports Keertana's expansion in the growing gold loan market. Other firms like Bain Capital and Tata Capital are also active in this sector. Keertana aims to grow its portfolio to Rs 6,000 crore by March 2027. The Indian gold loan market is projected for significant future growth.

Millet prices are increasing as farmers plant less of these nutritious grains. Lower planting this year could further tighten supplies and raise food costs. Jowar prices saw an 11% year-on-year increase in July, while small millets rose over 21%. Inflation in ready-made food products also climbed to nine percent. Wholesale prices for jowar and ragi indicate higher input costs for manufacturers.

Mitsubishi is nearing an exit from NTPC's Farakka power project. The Japanese firm will compensate NTPC with ₹851 crore for the project. This agreement follows earlier compensation demands and offers between the two companies. Significant work remains incomplete on the flue gas desulphurisation equipment installation. The project was initially estimated at ₹1,000 crore when awarded six years ago.