Thursday, August 06
Finance Minister Nirmala Sitharaman in her budget speech on Sunday announced a Rs 10,000 crore SME Growth Fund, signalling a decisive shift in how the government wants India’s vast MSME sector to plug into the country’s growth and export ambitions. Framed as an effort to create “champions” among small businesses, the proposal rests on a three-pronged strategy -- equity support, liquidity support and professional handholding. At a time when India is navigating a volatile global trade environment while simultaneously signing new free trade agreements (FTAs), the move seeks to help smaller firms scale up and compete globally. Unlike past budgets that focused largely on credit flow, Budget 2026-27 attempts to address deeper structural constraints faced by MSMEs. The announcement also r
Indian data centre linked stocks saw sharp moves after the finance minister proposed a long tax holiday to attract global cloud companies to set up and serve the world from India. The proposal offers a tax holiday until 2047 for foreign companies that provide global cloud services using data centres located in India, provided services to Indian customers are routed through an Indian reseller. The move is aimed at positioning India as a critical node in global digital infrastructure.Shares of Techno Electric and Engineering surged 8% as investors bet on higher data centre construction and power infrastructure demand. The company is already expanding into data centre projects and smart meter installations, both of which are seeing strong policy backing.Netweb Technologies rose 6%, extending
