Archives April 2026

business

SAEL Launches 600 MW Solar Plant in Andhra Pradesh, Boosts Clean Energy Capacity

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New Delhi, Apr 20 (BNP): SAEL Industries has operationalised a 600 MW solar power project in Kurnool, Andhra Pradesh, further strengthening India’s renewable energy infrastructure.

The large-scale project, spread across over 2,400 acres, has been developed in two units of 300 MW each through its subsidiary companies. The plant will feed clean electricity directly into the national grid, contributing to the country’s increasing reliance on sustainable power sources.

To ensure long-term financial stability, the company has secured a 25-year power purchase agreement (PPA) with the Solar Energy Corporation of India, providing assured offtake for the generated power.

SAEL stated that the project is expected to offset approximately 11 lakh tonnes of carbon emissions annually, aligning with India’s climate commitments and efforts to reduce dependence on fossil fuels.

The commissioning of the plant highlights the growing pace of large-scale solar deployment in India, driven by policy support, rising energy demand, and the push toward a cleaner energy mix.

Experts note that projects of this scale not only add to generation capacity but also play a crucial role in advancing energy transition goals, improving grid sustainability, and supporting long-term environmental targets.

 
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India, South Korea Push to Upgrade CEPA to Deepen Trade and Investment Ties

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New Delhi, Apr 20 (BNP): India and South Korea have renewed efforts to strengthen their economic partnership, with Union Commerce Minister Piyush Goyal holding discussions with his South Korean counterpart on upgrading the existing Comprehensive Economic Partnership Agreement (CEPA).

The talks focused on making the trade pact more aligned with current global economic dynamics, with both sides exploring ways to enhance market access, streamline trade processes, and unlock new investment opportunities.

Officials indicated that revisiting the CEPA is aimed at addressing existing gaps in the agreement while expanding its scope to include emerging sectors such as advanced manufacturing, technology collaboration, and sustainable industries.

The discussions come at a time when both countries are seeking to scale up bilateral trade and strengthen supply chain resilience amid global uncertainties. There is also a shared focus on encouraging greater participation from businesses and investors on both sides.

India and South Korea have maintained strong economic ties over the years, and the move to upgrade the agreement reflects a broader push to build a more dynamic and future-ready partnership.

The proposed revamp of CEPA is expected to support long-term growth in trade volumes, facilitate smoother investment flows, and deepen cooperation across key sectors, reinforcing the strategic economic relationship between the two nations.

 
business

Connplex Cinemas Launches Luxuriance Cinema Experience at Tribeca Highstreet, NIBM, Pune

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Pune, Apr 20:  India’s fastest-growing luxury cinema chain, Connplex Cinemas, has launched its premium Luxuriance format at CINEBAR, Level 1, Tribeca Highstreet, NIBM, Pune, bringing a new era of cinematic indulgence to the city.

Strategically located in one of Pune’s most evolving lifestyle hubs, Connplex Cinemas is set to cater to a growing base of urban, affluent audiences seeking elevated entertainment experiences. With a rapidly expanding network of 300+ screens across 35+ locations, it continues to redefine movie-going through a blend of cutting-edge technology, refined aesthetics, and immersive comfort. Its three distinct formats—Express, Signature, and Luxuriance—are designed to cater to a wide spectrum of audiences across India.

The Pune property features four ultra-premium screens with a total seating capacity of 225 seats, designed to deliver an intimate yet high-end cinematic experience. Spread across a carpet area of 7,778 sq. ft., the multiplex is built to offer both exclusivity and comfort.

Each auditorium is equipped with plush recliner seating, ensuring maximum comfort and privacy for viewers. The advanced projection systems deliver sharp, vibrant visuals, while state-of-the-art audio technology creates a deeply immersive soundscape that enhances every frame on screen. The experience is further elevated through a curated gourmet food and beverage offering, paired with personalised service that transforms a regular movie outing into a boutique luxury experience. This is complemented by an eclectic mix of dining destinations at Tribeca Highstreet, including The Murphies, The Urban Foundry, and Hippie@Heart, offering a vibrant blend of bar and café experiences.

Kalpesh Mehta, Founder, Tribeca Developers, said, “As high-street developments evolve into lifestyle-driven ecosystems, experiences like Connplex Luxuriance play a pivotal role in shaping how people engage with retail and entertainment. At Tribeca Highstreet, our vision has always been to curate destinations that blend design, community, and premium experiences, and this launch is a strong step in that direction.”

Speaking on the launch, Anish Patel & Rahul Dhyani, Founders & Directors, Connplex Cinemas, said, “Pune, the future of cinema arrives with us. Connplex Cinemas is here to set a bold new benchmark in experience, innovation, and design because this city deserves nothing less than extraordinary.”

With this launch, Connplex Luxuriance is set to emerge as one of Pune’s most premium cinematic destinations, further strengthening the positioning of Tribeca Highstreet as a vibrant lifestyle hub. Strategically positioned on the NIBM Road, Tribeca Highstreet serves as the gateway to the entire South Pune micro-market. Covering an impressive 3.66 lakh sq. ft., and a frontage spanning across 950 ft., it is Pune’s largest shopping destination. It hosts over 90+ premium brands such as Westside, Decathlon, Croma, Shoppers Stop, Snitch, American Eagle, Allen Solly, Van Heusen, Puma, Reebok, Bluetokai, The Silence Space, Starbucks, Subway, Caratlane, Bluestone, PNG Jewellers, and many more.


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business

Rupee Edges Higher to 92.78 as Crude Oil Slumps Over 5 pc, Easing Import Pressure

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Mumbai, Apr 20 (BNP): The Indian rupee opened on a firmer note on Monday, gaining 13 paise to 92.78 against the US dollar, supported by a sharp decline in global crude oil prices and a mildly improved risk tone in early trade.

The domestic currency found relief as Brent crude, the global oil benchmark, fell more than 5% to $95.21 per barrel, easing concerns over India’s import burden. As a major energy-importing economy, India’s currency often tracks movements in crude prices, making oil a key determinant of near-term rupee direction.

Sentiment was also underpinned by expectations of continued stability in monetary conditions, with markets factoring in supportive liquidity management by the Reserve Bank of India, which has helped cushion sharp currency swings in recent sessions.

Despite the early uptick, traders maintained a cautious stance, noting that the rupee is likely to remain confined to a broad range in the near term.

Market participants pointed to persistent geopolitical tensions in West Asia, particularly concerns around disruptions to key maritime trade routes, as a key factor limiting sustained currency appreciation. Any escalation in the region could quickly reverse gains by triggering fresh volatility in global oil markets.

Analysts further observed that while easing crude prices provide short-term support, the rupee’s medium-term direction will depend on a combination of global risk sentiment, foreign capital flows, and India’s trade dynamics.

Overall, the currency’s movement reflects a fragile balance between easing commodity-led pressure and lingering external uncertainties, keeping forex markets alert to sudden shifts in global developments.

 
business

Trade Deals, Softening Oil Prices May Help Narrow India’s Trade Deficit: BoB Report

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New Delhi, Apr 20 (BNP): India’s record trade deficit is expected to ease in the coming months, supported by anticipated trade agreements and a possible decline in global crude oil prices, according to a recent report by Bank of Baroda.

The report notes that elevated imports, particularly of energy products, have been a key driver of the widening trade gap in recent months. However, easing geopolitical tensions and improved global supply conditions could help stabilise oil prices, providing relief to India’s import bill.

At the same time, ongoing and potential trade deals are expected to improve export competitiveness and support outbound shipments, contributing to a gradual correction in the trade imbalance.

Economists highlighted that India’s external sector remains sensitive to fluctuations in global commodity prices, especially crude oil, which accounts for a significant share of import costs.

The report suggests that a combination of favourable global price trends and stronger trade linkages could help bring down the trade deficit from recent record levels in the near term.

Overall, while external risks remain, the outlook points toward a more stable trade environment if current trends in oil prices and trade negotiations continue.

business

IQOSand Devialet Introduce “Soundsorial Design” Collaboration

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Business Wire India

Philip Morris International (NYSE: PM) today announced a collaboration between IQOS – the number 1 tobacco heating system1, and Devialet – the French acoustic engineering company, launching “Soundsorial Design” at Milan Design Week 2026.

 

The immersive exhibition is an ethereal landscape of water and light, where sound, movement, and voice become visible across an ever‑changing immersive canvas. A space to push experiential boundaries, where visitors are invited to explore their own frequency as sound transforms into sight.The collaboration celebrates self-expression while connecting a community of over 35 million IQOS users who moved away from cigarettes.

 

 

Devialet’s mission to give sound its rightful place in our lives, achieved through acoustic breakthroughs, meets IQOS’s bold spirit of being forever curious – the force that pushes the brand to continuously innovate and explore new technologies for a better future. Two precision cultures, one pursuit of excellence.

 

 

“In both houses, design is deeply functional and innovation is the foundation. Patents, products and peer standards are the evidence. United by a relentless commitment to push innovation boundaries, Devialet and IQOS’ collaboration challenges the status quo while redefining the experiences of tomorrow,” said Oggie Kapetanovic, President Heat Not Burn, Philip Morris International.

 

 

Brought to life through innovative technology, the ‘Soundsorial Design’ exhibition becomes a space to push experiential boundaries – where Devialet’s sound is alive: seen through the movement of its iconic woofers and felt physically through its powerful infrabass – inviting us to explore until we find our own frequency and witness the moment when immersive sound transforms into sight.

 

 

“Driven by a shared ambition to disrupt industry conventions, IQOS and Devialet have designed a truly ‘soundsorial’ experience for this exhibition. By bringing Devialet’s savoir-faire to the space, we have ensured that sound is no longer just a backdrop—it becomes a physical presence that completes the journey, embodied by the iconic design and performance of the Devialet Phantom Ultimate speaker”, emphasized Jacques Demont, Devialet’s Chief Executive Officer.

 

 

Also unveiled as part of the collaboration is the ‘Soundsorial’ Limited-Edition Capsule Drop. The unique piece by IQOS and Devialet is a creation born from the collaboration between the two brands, crafted for those who seek an exceptional union. The exclusive set pairs the IQOS ILUMA i PRIME with Devialet’s Gemini II earbuds, featuring sound-wave-inspired patterns.

 

 

“The sound waves carry a signature rhythm – a pattern as unique as a fingerprint. Yet waves also belong to the collective, they are energy moving through space, the invisible currents that bind us to one another. This duality mirrors the spirit of the IQOS and Devialet collaboration. Devialet’s sound waves turn emotion into shared experience; IQOS empowers self‑expression while connecting a community of over 35 million users2”, concluded Oggie Kapetanovic.

 

 

‘IQOS X Devialet: Soundsorial Design’ will be staged at Opificio 31, inside Tortona Rocks, from April 20 to 27 2026, from 10:00 to 21:00 CEST each day.

 

 

IMPORTANT INFORMATION: IQOS is not risk-free and provides nicotine, which is addictive.

 

 

For adult smokers looking for more information on smoke-free alternatives to continued smoking, please visit https://www.iqos.com.

 

 

Philip Morris International: A Global Smoke-Free Champion

 

 

Philip Morris International is a leading international consumer goods company, actively delivering a smoke-free future and evolving its portfolio for the long term to include products outside of the tobacco and nicotine sector. The company’s current product portfolio primarily consists of cigarettes and smokefree products, including heat-not-burn, nicotine pouch and e-vapor products. Our smoke-free products are available for sale in over 105 markets, and as of December 31, 2025 PMI estimates they were used by over 43 million legal-age consumers around the world, many of whom have moved away from cigarettes or significantly reduced their consumption. The smoke-free business accounted for 41.5% of PMI’s full year 2025 total net revenues. Since 2008, PMI has invested over $16 billion to develop, scientifically substantiate and commercialize innovative smoke-free products for adults who would otherwise continue to smoke, with the goal of completely ending the sale of cigarettes. This includes the building of worldclass scientific assessment capabilities, notably in the areas of pre-clinical systems toxicology, clinical and behavioral research, as well as post-market studies. Following a robust science-based review, the U.S. Food and Drug Administration has authorized the marketing of Swedish Match’s General snus and ZYN nicotine pouches and versions of PMI’s IQOS devices and consumables – the first-ever such authorizations in their respective categories. Versions of IQOS devices and consumables and General snus also obtained the first-ever Modified Risk Tobacco Product authorizations from the FDA. With a strong foundation and significant expertise in life sciences, PMI has a long-term ambition to expand into wellness areas. References to “PMI”, “we”, “our” and “us” mean Philip Morris International Inc., and its subsidiaries. For more information, please visit www.pmi.com and www.pmiscience.com.

 

 

1 PMI global estimate of total In-Market Sales of Heated Tobacco Units as of December 2024.

 

 

2 Source: PMI Q4 2025 Earnings Release

 

 

 

 

 

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India’s JSW Steel, South Korea’s POSCO Tie Up for Odisha Plant

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New Delhi, Apr 20 (BNP): In a significant development for India’s steel sector, JSW Steel and South Korea’s POSCO have announced a 50:50 joint venture to establish a new steel manufacturing facility in Odisha.

The announcement comes during the official visit of South Korean President Lee Jae Myung to India, highlighting growing economic and industrial cooperation between the two countries.

The proposed plant in Odisha is expected to strengthen steel production capacity, enhance technology collaboration, and support long-term industrial integration between Indian and South Korean companies. Officials indicated that the project will focus on advanced steel manufacturing processes and sustainable production practices.

The joint venture is also expected to contribute to Odisha’s position as a major steel hub in India, attracting further investment and generating employment opportunities in the region.

Industry observers note that the partnership reflects increasing confidence in India’s manufacturing ecosystem and aligns with broader efforts to deepen bilateral economic ties between India and South Korea.

Further details regarding investment size, capacity, and project timelines are expected to be announced in the coming stages of the partnership.

business

Omaxe Chowk’s ‘Sone Pe Suhaaga’ Campaign Sees Strong Footfall, Blending Festive Shopping with Rewarding Experiences

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Omaxe Chowk’s ‘Sone Pe Suhaaga’ Campaign Sees Strong Footfall, Blending Festive Shopping with Rewarding Experiences

The ‘Sone Pe Suhaaga’ campaign at Omaxe Chowk, Chandni Chowk concluded on a high note this Akshaya Tritiya, witnessing strong footfall and reaffirming its appeal as a go-to destination for festive shopping.

Held from April 17, the three-day campaign transformed festive jewellery shopping into an immersive experience by bringing together leading brands such as Kalyan Jewellers, Tanishq, Malabar Gold & Diamonds, CaratLane, Mia by Tanishq, GIVA, and Kisna under one roof.

The campaign witnessed enthusiastic participation from shoppers, with customers not only investing in gold and jewellery—considered auspicious during the festival—but also enjoying assured rewards in the form of food vouchers. This unique addition enhanced the overall shopping journey, encouraging longer visits and creating a more engaging, family-friendly festive environment.

Speaking on the campaign, Jatin Goel, Executive Director, Omaxe Group, said, “Festive shopping today is no longer just about purchase, it’s about experience. With ‘Sone Pe Suhaaga’, we brought together the emotional significance of Akshaya Tritiya with instant, tangible rewards that added value to every purchase. The idea was to create a more complete celebration where shopping, dining, and time spent with family came together seamlessly. Omaxe Chowk continued to evolve as a modern destination that retained the cultural essence of Chandni Chowk while offering the comfort and scale of organised retail.”

Omaxe Chowk showcased its strength as a one-stop destination for festive jewellery shopping by bringing together a curated mix of renowned and emerging brands. The campaign went beyond retail to deliver an enhanced consumer experience, with visitors enjoying a premium shopping environment in the heart of Chandni Chowk, complemented by vibrant dining options that made festive outings more engaging and complete.

With its focus on assured rewards and experiential shopping, the initiative successfully drove strong footfall, increased dwell time, and boosted overall consumer spending during the Akshaya Tritiya period, reinforcing Omaxe Chowk’s position as a preferred festive retail destination.

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MSME Manufacturing Sees Steady Growth, But Global Tensions Weigh on Momentum

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New Delhi, Apr 20 (BNP): India’s MSME manufacturing sector recorded expansion during the January–March period, although the pace of growth showed signs of moderation amid geopolitical uncertainties in West Asia, according to a recent survey by PHD Chamber of Commerce and Industry.

The survey indicates that while overall business activity in the MSME segment remained positive, external pressures—particularly disruptions linked to the West Asia crisis—have slightly dampened growth momentum.

Rising input costs, supply chain concerns, and global market volatility were identified as key challenges affecting sentiment in the sector. Despite these headwinds, manufacturers continued to report expansion in production and order activity, reflecting underlying resilience in domestic demand.

Industry stakeholders noted that MSMEs are adapting to external shocks by focusing on efficiency, diversification of supply sources, and greater reliance on domestic markets.

The report further highlights that sustained government support, credit availability, and policy interventions have helped cushion the impact of global uncertainties on small and medium enterprises.

Overall, the survey suggests that while growth in the MSME manufacturing sector continues, external geopolitical tensions have introduced caution into business outlooks for the near term.

 
business

Omdia: AMOLED Smartphone Display Shipments Expected to Decline Sharply in 2026

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Business Wire India

AMOLED smartphone display shipments are expected to decline sharply in 2026 amid rising memory prices and increasing market uncertainty, according to Omdia’s latest OLED Display Market Tracker.

 

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260417708632/en/

 

 

AMOLED smartphone display shipment

AMOLED smartphone display shipment

 

A surge in memory prices since the second half of 2025 has significantly increased component costs for smartphones putting pressure on pricing for new models in 2026. Chinese smartphone brands, whose competitive strength lies in offering a broad portfolio at aggressive price points, are expected to face particular challenges as component costs rise. Concerns that higher prices could dampen demand have already led to many of these vendors to revise their smartphone plans downward.

 

In contrast, Apple is well positioned to capture additional market share, supported by its stable semiconductor supply chain and higher product margins. A narrowing price gap between Apple and competing devices is expected to support a more aggressive sales strategy in 2026.

 

 

Broader macroeconomic factors are also weighing on the market. Ongoing geopolitical tensions and global economic pressures have contributed to rising energy costs and supply chain disruptions. Increases in petrochemical raw materials prices, alongside higher logistics and transportation costs, are further driving up expenses across the value chain and adding to overall market uncertainty.

 

 

These dynamics are expected to have a direct impact on the smartphone display market. Omdia forecasts that AMOLED smartphone display shipments in 2026 will fall to 778 million units in 2026, a 7% year-on-year decline. The flexible AMOLED segment is projected to decline for the first time in seven years while rigid AMOLED shipments are expected to contract for a second consecutive year, driven by accelerated migration toward Flexible AMOLED displays.

 

 

Brian Huh, Principal Analyst in Omdia’s Display research practice, said, “Despite Apple’s more aggressive iPhone sales strategy, the global AMOLED display market is expected to decline in 2026 due to weakening demand from Chinese smartphone brands. Paradoxically, softer demand may prompt Chinese AMOLED panel makers to adopt more aggressive pricing strategies to maintain their fab utilization rates.”

 

 

ABOUT OMDIA

 

 

Omdia, part of TechTarget, Inc. d/b/a Informa TechTarget (Nasdaq: TTGT), is a technology research and advisory group. Our deep knowledge of tech markets grounded in real conversations with industry leaders and hundreds of thousands of data points, make our market intelligence our clients’ strategic advantage. From R&D to ROI, we identify the greatest opportunities and move the industry forward.