Joint venture aims to expand BPSL crude steel capacity to 10 MT by 2030 and strengthen JSW Steel’s balance sheet for future growth opportunities.

Japan’s JFE Steel will invest ₹15,750 crore to pick up a 50 per cent stake in the steel business of Bhushan Power & Steel Ltd, ushering in fresh foreign direct investment in the Indian steel sector.

BPSL is majority owned by Sajjan Jindal-led JSW Steel, which holds an 82.65 per cent stake in the Odisha-based steel maker, which has primary steelmaking capacity of 4.5 million tonne (mt).

JFE, which is the single largest non-promoter shareholder in JSW Steel with a 15 per cent stake, will invest in BPSL’s steel undertakings in two equal tranches.

JSW had acquired BPSL, which has a steel processing unit on Delhi Road near Calcutta, in 2021 for ₹19,700 crore from the insolvency court and turned around the loss-making unit. The Sajjan Jindal company then ramped up capacity to the present level, which now employs 25,000 people.

JSW Steel said the cash proceeds from the transaction would strengthen the balance sheet of the company and provide a clear runway for growth in a financially prudent manner across business cycles.

“The overall deleveraging which will take place post completion of the transaction is about ₹37,250 crore. The deal will accelerate our journey beyond 50 mt,” Jayant Acharya, joint managing director & CEO, told The Telegraph in a telephonic conversation.

According to the deal contours, JSW Steel will transfer BPSL’s steel business, including the iron ore mine, to an entity by a slump sale for ₹24,483 crore. JFE will then pick up a 50 per cent stake in that entity by investing ₹15,750 crore. Moreover, the debt of ₹4,900 crore will also be moved towards the JV entity.

The cash component will include consideration of the slump sale and half of JFE’s purchase value. The other half of ₹7,875 crore from JFE’s investment would take the combined cash inflow to ₹32,358 crore, which JSW Steel will get, Acharya said. The overall deleverage would also take into account the debt shift. JSW’s net debt stood at ₹79,153 crore at the end of September 30.

The promoter entity, which held 17.35 per cent of BPSL, will get JSW Steel shares following the transaction. Consequently, their holding in JSW Steel will go up by 1.4 per cent to 46.74 per cent. The Telegraph had reported on the potential transaction on November 11.

Growth frontier

With the balance sheet in a stronger place, the company said it would pursue growth opportunities in Vijaynagar, Paradip and Salav in a financially prudent manner and target reaching 50 MT by 2031.

Masayuki Hirose, president and CEO of JFE Steel Corporation, said that the relationship between JSW and the Japanese company is entering a new phase.

“Since we signed the strategic comprehensive alliance agreement with JSW in 2009, we have engaged in various collaborations, including capital participation; licensing of manufacturing technology for automotive steel and non-oriented electrical steel sheets; and a JV for the manufacturing of grain-oriented electrical steel sheet,” he recalled.

JFE said the JV plans to expand crude steel production at BPSL to 10 MT by 2030 and it already has the land to do so. There is also a potential to take the capacity to 15 MT in future to make it one of the largest integrated steel facilities in India. JSW said it would remain invested in the JV with JFE and participate in BPSL growth story going forward.

source/content: telegraphindia.com (headline edited)

The report states that India, alongside Nigeria, Pakistan, the Democratic Republic of the Congo, Egypt, Bangladesh and Ethiopia, will account for ‘more than half’ of all new urban dwellers worldwide.

India stands at the epicentre of what the United Nations calls an ineluctable and historically unprecedented demographic movement as cities emerge as the primary target for habitat for majority of the population. According to World Urbanization Prospects 2025: Summary of Results, published by the United Nations Department of Economic and Social Affairs, Population Division (UN DESA) in 2025, India will be the pre-eminent contributor to global urban population growth between 2025 and 2050.

The report states that India, alongside Nigeria, Pakistan, the Democratic Republic of the Congo, Egypt, Bangladesh and Ethiopia, will account for ‘more than half’ of all new urban dwellers worldwide, adding more than 50 crore people to city regions. India alone will contribute well over 20 crore new urban residents during this period, a scale the report describes as preternatural in pace and consequence.

Urbanisation in India is proceeding at an inexorable rate. In 2025, roughly 36 percent of India’s population is estimated to be living in cities, and UN DESA projects that this proportion will approach 50 per cent by 2050, altering the quotidian social and economic landscape. The report highlights that India’s urban transition is not driven solely by megacities but by the ramified growth of small and medium-sized cities. More than 70 per cent of India’s urban residents live in settlements with fewer than 1 million inhabitants, and many of the most rapidly expanding centres have populations below 250,000.

The report notes that about 17 percent of the world’s shrinking cities between 2015 and 2025 are located in India, a statistic that underscores the uneven geography of opportunity and the fraught nature of climate-exposed and stagnant regional economies.

India has one megacity—Delhi—that ranks among the world’s largest and continues to expand despite granitic resource constraints. Delhi, home to more than 3.3 crore people in 2025, is projected to grow steadily, while Mumbai, with approximately 2.2 crore inhabitants, remains a high-density metropolis struggling to provide adequate housing and mobility. The report presents that the locus of future growth will lie in the proliferating network of smaller cities, many of which are dilatory in infrastructure development and struggling by shortfalls in transport, sanitation and planning capacity. It cautions that unless investment accelerates, these cities risk being overwhelmed by demand they are structurally unprepared to meet.

Land pressure is reaching a portentous threshold. Built-up land in India has expanded  rapidly. Large tracts of agricultural land have been subsumed into urban development, exacerbating risks to food security and ecological sustainability. The report warns that as India races towards becoming an urban-majority country, land-use stewardship will decide whether growth is equitable and resilient or degenerates into a squalid contest over shrinking resources.

Across South Asia, urbanisation is reshaping demographic and economic trajectories. The region is now the world’s most populous, and its cities are expanding at dizzying speed. Dhaka, with nearly 3.7 crore residents in 2025, is the world’s second-largest city and is on course to become the world’s largest by mid-century. Karachi continues its upward climb, while Kathmandu, Colombo, Chattogram and Thimphu are among smaller cities growing at rates above 3 per cent per year. The report records that one third of the world’s fastest-growing cities are situated in sub-Saharan Africa and one quarter in Central and Southern Asia, making South Asia a definitive locus of global change.

source/content: newindianexpress.com (headline edited)

When asked if Ms. Zilis had spent any time in India, Mr. Musk said she was given up for adoption when she was a baby and grew up in Canada.

SpaceX CEO Elon Musk said his partner Shivon Zilis is “half-Indian” and one of their children’s middle name is ‘Sekhar’ after the Nobel laureate Subrahmanyan Chandrasekhar.

“One of my sons with her is, his middle name is Sekhar, after Chandrasekhar,” Mr. Musk said in an interview with investor and entrepreneur Nikhil Kamath on his show ‘People by WTF’.

S Chandrasekhar was a renowned Indian-American astrophysicist who was awarded the Nobel Prize in Physics in 1983 “for his theoretical studies of the physical processes of importance to the structure and evolution of the stars”.

When asked if Ms. Zilis had spent any time in India, Mr. Musk said she was given up for adoption when she was a baby and grew up in Canada. “I think her father was like an exchange student at the university, or something like that. I’m not sure of the exact details, but, just kind of thing where I don’t know… she was given up for adoption,” he said.

Mr. Musk has four children with Ms. Zilis – twins Strider and Azure, a daughter Arcadia and son Seldon Lycurgus. Ms. Zilis is a director of operations and special projects at one of Mr. Musk’s companies Neuralink.

source/content: thehindu.com (headline edited)

The comments came during an interview with investor-entrepreneur Nikhil Kamath on his podcast ‘People by WTF’, released on Sunday.

SpaceX CEO Elon Musk has said the United States has been an “immense beneficiary” of Indian talent and voiced strong support for the H-1B visa programme, warning that shutting it down would “actually be very bad” for the country.

Musk made the remarks during a conversation with investor-entrepreneur Nikhil Kamath on his podcast ‘People by WTF’, released on Sunday.

“Yes, I think America has benefited immensely from talented Indians who have come to America… America has been an immense beneficiary of talent from India,” Musk said.

Addressing the H-1B visa system, the Tesla CEO acknowledged instances of misuse but emphasised that the programme should continue.

“It would be accurate to say that… some of the outsourcing companies have gamed the system on the H-1B front. And we need to stop the gaming of the system.

“But I’m certainly not in the school of thought that we should shut down the H-1B programme. That’s where some on the right are. I think they don’t realise that that would actually be very bad,” Musk said.

His comments come amid a major US crackdown on alleged H-1B visa abuse, a programme heavily used by American tech companies to hire foreign professionals. Indian workers, especially in technology and healthcare, account for one of the largest segments of H-1B holders.

In September, US President Donald Trump issued a Proclamation titled ‘Restriction on Entry of Certain Nonimmigrant Workers’ as part of an effort to reform the H-1B system. The Proclamation introduced a one-time USD 100,000 fee on new H-1B visas, a measure expected to significantly affect Indian applicants.

Asked whether the US “seems to have become anti-immigration to a certain extent”, Musk said opinions differ sharply.

He argued that under the Joe Biden administration, “it was basically a total free-for-all, with like no border controls, which, you know, unless you’ve got border controls, you’re not a country”.

Musk claimed there was “massive” illegal immigration under Biden, creating a negative selection effect.

“If there’s a massive financial incentive to come to the US illegally and get all these government benefits, then you necessarily create a diffusion gradient for people to come to the US just as an incentive structure. I think that obviously made no sense,” he said, reiterating the need for strong border controls.

According to Musk, the political left favours open borders regardless of circumstances or “if the person coming in is a criminal”, while the right believes American jobs are being taken by high-skilled foreign workers.

“I don’t know how real that is. My direct observation is that there’s always a scarcity of talented people. So from my standpoint, I’m like, we have a lot of difficulty finding enough talented people to get these difficult tasks done, and so more talented people would be good,” he said.

He added that some companies treat the issue as a cost concern, hiring workers from abroad “for a fraction of the cost of an American citizen”.

However, Musk said his companies prioritise talent above all else.

“We pay way above average, so… that’s not my experience, but that’s what a lot of people do complain about,” he said.

When asked for advice to young Indian entrepreneurs, Musk said he admired “anyone who wants to build”.

“Aim to make more than you take, be a net contributor to society… If you want to create something valuable… pursue providing useful products and services… then money will come as a natural consequence,” he said.

“Are you a value creator? That’s what really matters,” Musk added.

source/content: telegraphindia.com (headline edited)

ndia’s population is expected to stabilise by 2080 at 1.8 or 1.9 billion due to dipping total fertility rate, which is currently below the replacement level at 1.9, an official said.

India is undergoing a rapid demographic transition, with the birth rate dropping sharply over the past two decades, he said.

“In 2000, our TFR was 3.5 and today it stands at 1.9. This is a drastic decline,” Indian Association for the Study of Population general secretary Anil Chandran told PTI.

He said India’s population is expected to peak at 1.8 or 1.9 billion by 2080, when growth is expected to stabilise.

“All estimates show that India’s maximum population will remain below two billion,” Chandran added.

He attributed the fall in fertility primarily to increasing development and education levels. Increased female literacy, he said, has directly shaped decisions around marriage and childbearing, leading to smaller families.

Greater use of contraceptives and wider access to birth control have further accelerated the decline, he said.

“Couples today are better informed and exercise greater control over when and how many children to have,” Chandran said.

He said that late marriages and growing economic opportunities especially for women pursuing careers have also significantly influenced reproductive choices.

“Development is inversely proportional to birth rates. Illiterate groups still have fertility levels above three, but among the educated, TFR ranges between 1.5 and 1.8,” he said.

Citing Kerala’s example, Chandran said the state achieved replacement-level fertility between 1987 and 1989 and now has a TFR of around 1.5.

West Bengal’s fertility rate has also seen a sharp fall. According to the Sample Registration System Statistical Report 2023, the state’s TFR has dropped to 1.3, down from 1.7 in 2013 a decline of nearly 18 per cent and well below the replacement level of 2.1. West Bengal now ranks among the lowest in the country, on par with Tamil Nadu and just above Delhi, while recording the lowest urban TFR and the second-lowest rural TFR nationally, he said.

The demographer noted that while birth rates are falling, life expectancy continues to rise due to improvements in healthcare.

“More people are living beyond 60, and this brings new challenges of elderly care, especially as younger people migrate for work,” he said, adding that solutions such as elderly day-care facilities are increasingly being discussed.

IASP, founded in 1971 and comprising around 1,100 demographers and population scientists, regularly deliberates on such issues with support from bodies including UNFPA, the Population Council and the Population Foundation of India.

This article was generated from an automated news agency feed without modifications to text.

source/content: hindustantimes.com (headlines edited)

In a bid to place Meghalaya and the region firmly on the global organic map, the state government on Friday inaugurated the first Northeast India Organic Week, a multi-nation platform that brought together delegations and buyers from 13 countries to boost trade and innovation in the sector.

The event was organised in partnership with the Agricultural and Processed Food Products Export Development Authority , the Union Commerce Ministry and IFOAM-Organics Asia.

Officials said representatives from Malaysia, Taiwan, Mongolia, Indonesia, New Zealand and several other countries are participating at the event, signalling the region’s growing potential as a gateway for global organic trade.

EDA general manager Dr Saswati Bose described the initiative as a “significant milestone for India and the global organic community”, noting Meghalaya’s biodiversity and strong community farming traditions.

She said EDA had helped products such as turmeric, ginger, niche spices and fruits enter West Asia markets in recent years.

Meghalaya Agriculture Commissioner and Secretary Dr Vijay Kumar D said the state was among the fastest growing in the country, driven largely by agriculture.

“Meghalaya is the second fastest growing state behind Tamil Nadu and the only one with 10 per cent growth over the last four years post-COVID,” he said.

He said Chief Minister Conrad K Sangma’s vision was to more than double farmers’ income by 2028 and highlighted the government’s “hub-and-spoke model” linking village-level centres to major processing hubs.

A new ginger processing unit worth ₹25 crore has been set up as the largest organic spice processing facility in the Northeast, he added.

Dr Kumar said Lakadong turmeric, with up to 13 per cent curcumin content, was among the finest in the world.

The state is also establishing an extraction unit for bio-curcumin tablets and aims to bring one lakh hectares – nearly 25 per cent of the state’s cultivated area – under certified organic agriculture by 2028.

He also cited ongoing climate action efforts under the ‘Green Meghalaya’ initiative and said bamboo-based biochar could help revive the state’s acidic soils.

EDA chairman Abhishek Dev said Meghalaya had “significant export potential” in organic produce and emphasised the need for strong partnerships with state governments to improve last-mile connectivity.

He also highlighted the rollout of the eighth edition of the National Programme for Organic Production , which focuses on strengthening certification systems.

IFOAM-Asia executive director Jennifer Chang said the event was a major milestone for the global organic movement.

Referring to her visit to a Khasi mandarin orchard in Mawphu, she said farmers in the region were “organic by default” and served as “stewards of nature”.

IFOAM adviser Brendan Hoare called the organic movement “borderless and collaborative” and urged long-term cooperation among stakeholders.

Following the inauguration, dignitaries opened an exhibition featuring certified organic products from farmer producer organisations, cooperatives and enterprises across the Northeast.

A dedicated Meghalaya Organic Pavilion displayed produce from state-supported collectives alongside kiosks from EDA, the Tea Board, the Directorate of Food Processing and other agencies.

A presentation by CRISIL associate director Priyanka Uday described Meghalaya as an emerging powerhouse in India’s organic sector.

She said exports of organic ginger to Dubai had reached 15 metric tonnes between 2019 and 2023, while sales of organic black pepper had doubled.

GI-tagged Khasi mandarins have also made inroads into Gulf markets through the Lulu Group, she added.

The afternoon sessions included a buyer-seller meet and discussions on NPOP regulations and labelling norms.

The Northeast India Organic Week will continue till December 1 and aims to strengthen youth-led innovation and build a robust ecosystem for organic agriculture and trade in the region.

This article was generated from an automated news agency feed without modifications to text.

source/content: hindustantimes.com (headline edited)

The facility will be available, with tickets priced at Rs 3,000 per person, excluding taxes, for a ride that takes participants around 120 feet in the air.

Delhiites can now enjoy hot-air balloon rides from Saturday at the Delhi Development Authority’s (DDA) Banseera Park near Sarai Kale Khan, officials said. Earlier this week, Lt Governor VK Saxena launched the facility from Banseera Park.

“The rides will be launched for the public from Banseera Park around 3:30 pm,” a DDA official said on Friday.

In July, the DDA had finalised a private agency to conduct these activities at four locations, including the Yamuna Sports Complex, the Commonwealth Games sports complexes, and two other sites along the Yamuna Bank at Asita and Baansera.

The facility will be available from Saturday, with tickets priced at Rs 3,000 per person, excluding taxes, for a ride that takes participants around 120 feet in the air.

The trips will last between seven and 12 minutes, with each ride able to hold four people, officials added.

According to the officials, four hours of flying time will be allowed each day. The private company will operate on a revenue-sharing model and will also be allowed to advertise on the balloons.

source/content: telegraphindia.com (headline edited)
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Presented as a fully mobile and AI driven counter drone platform, the Ranger has been developed to detect, track and neutralise hostile drones even while in motion, addressing a long standing vulnerability in India’s defence grid.

Presented as a fully mobile and AI driven counter drone platform, the Ranger has been developed to detect, track and neutralise hostile drones even while in motion, addressing a long standing vulnerability in India’s defence grid.

Unlike traditional anti-drone systems that operate from fixed positions, the Ranger has been conceptualised as a combat vehicle capable of on the move surveillance, real time patrolling and rapid interception.

The Ranger is built on an all-terrain 4×4 Toyota Hilux platform and can detect drones up to 10 kilometres away and neutralise threats within a 4 kilometre envelope.

It is equipped with an integrated cyber takeover unit, GNSS spoofing technology, RF jamming capability and a spring-loaded kill switch for clean and autonomous takedowns.

Using AI, radar and jamming systems, the vehicle is designed to secure convoys, bases and borders by stopping threats ranging from small quadcopters to coordinated swarm attacks.

The urgency behind its development stems from recent national security incidents that underscored drones as a preferred conduit for cross border smuggling and illegal activity.

India has witnessed a spike in ISI-linked weapons being pushed deep into its territory and a surge in drone based drug drops that feed a Rs 3 lakh crore narcotics trade.

Security agencies have also neutralised hundreds of Pakistani drones this year alone. These developments made a fast and mobile counter drone response critical.

Kiran Raju, CEO and Founder of Indrajaal, highlighted the mission guiding the project and said that every hostile drone taken down translates into lives saved and internal security strengthened. He added that the company’s core objective is to defend freedom.

The ADPV is built to provide seamless and dynamic coverage across border roads, canals, agricultural belts, critical infrastructure zones and dense urban areas.

Lieutenant General Devendra Pratap Pandey, Retired, who attended the launch as guest of honour, lauded the innovation and said that India’s youth deserve a safer nation free from the influence of international crime networks.

He called technologies like the Anti-Drone Patrol Vehicle as shields protecting citizens, farmers and future generations and said that the country will value such a transformative contribution.

Indrajaal is recognised as India’s pioneering autonomous Counter UAS and air defence technology enterprise.

Its proprietary autonomy engine, SkyOS, integrates multi sensor intelligence and real time decision making into a unified C5ISRT framework.

The firm has secured ARDTC certification for Counter UAS deployment and has already demonstrated operational success.

source/content: telegraphindia.com (headline edited)

This transition is driven by an innovation-focused ecosystem that emphasizes biosimilars, peptides, complex generics, and next-generation biologics.

 India’s pharmaceutical sector is currently transitioning from a focus on generic drugs to the development of next-generation innovative biologics, as highlighted by the Central Drugs Standard Control Organization (CDSCO) of the Ministry of Health and Family Welfare, Government of India.

This transition is driven by an innovation-focused ecosystem that emphasizes biosimilars, peptides, complex generics, and next-generation biologics.

Dr. R. Chandrashekar, Joint Drugs Controller at CDSCO, spoke at the CPHI & PMEC India Expo, stating, “This transition is being accelerated by government reforms and CDSCO initiatives, including streamlined approval processes, reduced regulatory barriers, the decriminalization of non-serious offenses, and the endorsement of research and development (R&D) projects.” He emphasized that these government initiatives have significantly changed the R&D landscape in the country.

“The recommendation of R&D projects worth ₹5,000 crore and the newly launched Hospital Finance scheme of ₹1,00,000 crore further strengthen the country’s R&D framework,” Chandrashekar stated.

At the event, experts from India’s pharmaceutical industry urged the sector to pursue value-driven innovations such as peptides, biosimilars, and targeted therapies.

Namit Joshi, Chairman of the Pharmaceuticals Export Promotion Council of India (Pharmexcil), noted, “With patents expiring, Indian manufacturers are well-positioned to enter high-value markets.” He pointed out that breakthrough classes of drugs, like GLP-1 inhibitors, are redefining global health outcomes, and Indian companies need to keep pace with these advancements.

GLP-1 receptor agonists are a ground-breaking class of medications that mimic the natural GLP-1 hormone to treat type 2 diabetes and obesity, offering additional benefits for cardiovascular, renal, and neurodegenerative diseases.

“To enhance India’s role in global healthcare, a shift towards broader thinking and innovation is essential,” Joshi added.

The 18th edition of the expo, organized by Informa Markets in India, will take place from November 25 to 27, 2025, at the India Expo Centre in Greater Noida, Delhi-NCR.

The expo is expected to bring together over 2,000 exhibitors from more than 120 countries, including China, Italy, Germany, Switzerland, and South Korea. It serves as a hub for collaboration in pharmaceutical machinery, packaging, ingredients, and advanced lab technologies.

Yogesh Mudras, Managing Director of Informa Markets in India, noted, “India’s pharmaceutical sector has achieved remarkable growth, with exports doubling to USD 30 billion and nearly half of global life sciences leaders establishing operations here.”

source/content: newindianexpress.com (headline edited)