The Council of Ministers has approved the Bharat Audyogik Vikas Yojana Rasayan (BHAVYA-Rasayan) scheme, which provides for the establishment of three specialized chemical parks in the country.
The total financial outlay for this scheme is 3030 crore rupees. Of this amount, 3000 crore rupees will be allocated for setting up general infrastructure and basic utilities within the parks, while the remaining 30 crore rupees are designated for administrative expenses.
The scheme was announced as part of the Union Budget and is planned for a five-year period. The central government will provide a grant of up to 1000 crore rupees for each park, but the state where the park is established must contribute at least 500 crore rupees.
According to the government, the BHAVYA-Rasayan scheme aims to stimulate the growth of the chemical industry and its entire value chain, including upstream, downstream, and ancillary sectors, while ensuring efficient resource utilization. Providing common infrastructural facilities and utilities tailored to the needs of the chemical industry should enhance cost competitiveness and make the Indian chemical industry globally competitive.
Furthermore, the program will help the sector integrate better into global supply chains, promoting increased exports and import substitution. The scheme will create an environmentally friendly ecosystem with centralized facilities such as wastewater treatment plants, processing, storage, and disposal units, as well as hazardous waste management infrastructure. The government noted that the development of the chemical sector will lead to job creation and contribute to economic growth.
Today, July 25, is scheduled for the announcement of financial results for the first quarter of the fiscal year 2027 (Q1FY27) from a number of companies. Among them are AU Small Finance Bank, IDFC First Bank, Zen Technologies, Vedant Fashions, Birla Corporation, Prudent Corporate Advisory Services, Five-Star Business Finance, SBFC Finance, Dodla Dairy, Seshasayee Paper and Boards, Surana Solar, and 3P Land Holdings.
Also today will present their reports firms such as High Energy Batteries (India), Nila Infrastructures, FCS Software Solutions, SKP Securities, Exxaro Tiles, Suryalakshmi Cotton Mills, Sachem Finserve, Mercury Laboratories, Dhanuka Realty, Sea TV Network, Katipatang Lifestyle, Lexoraa Industries, and Veronica Production.
The state power producer NTPC reported a 13 percent increase in consolidated net profit compared to the previous year for the April-June period. The company's net profit in Q1FY27 reached 6,896.44 crore rupees, up from 6,108.46 crore rupees the previous year. Total revenue for the quarter amounted to 51,141.51 crore rupees, higher than the figure of 47,821.11 crore rupees for the same period last year.
Indian stock indices continued their five-day streak of declines on Friday. This marked the longest streak of declines since January, as investors assessed inflation and economic growth forecasts amid high crude oil prices. The Sensex index fell by 332 points, or 0.43 percent, closing at 76,059.77, while the Nifty50 declined by 102.15 points, or 0.43 percent, settling at 23,767.45.
Among the main losers on the Nifty50 were Eternal, Bajaj Finance, and Mahindra & Mahindra. Broader markets also closed in the red: the Nifty MidCap and Nifty SmallCap indices adjusted by 0.10 percent and 0.32 percent, respectively. In sector indices, Nifty Auto showed the worst performance, declining by 1 percent, while Nifty Realty and Nifty Pharma also showed negative dynamics. Meanwhile, the Nifty Media and Nifty IT indices demonstrated better results compared to the overall market.
The Minister of Finance, Economic Development and Investment Promotion of Zimbabwe, Mutuli Ncube, announced that Zimbabwe has joined the BRICS New Development Bank (NDB). This step is expected to expand the country's access to development financing and investments.
According to the Ministry of Information, Publicity and Broadcasting Services on the social network X, membership in the bank will improve access to financial resources for development, deepen economic cooperation with BRICS nations, and provide Zimbabwe with a more significant representation in global economic decision-making.
The New Development Bank was established in 2014 by countries such as Brazil, Russia, India, China, and South Africa, and began its operations in 2015. It finances projects in infrastructure and sustainable development in both BRICS countries and other developing and emerging economies.
Zimbabwe applied to join the bank in 2023, with negotiations for its acceptance progressing toward early 2026. Furthermore, the country submitted an official statement expressing its desire to join the BRICS bloc itself.
As part of the first official visit by the speaker of the lower house of the Czech Republic in almost seven years, a high-level delegation led by the Speaker of the Chamber of Deputies, Tomio Okamura, arrived in China. This visit coincides with the tenth anniversary of the strategic partnership between the two countries.
The five-day trip covers major cities such as Shanghai, Hangzhou, and Beijing. The main focus is on practical cooperation in the fields of trade, tourism, and corporate sector interaction.
Czech companies representing the e-commerce, aerospace, and renewable energy sectors gathered in Beijing. There, they participated in the Conference on Economic and Trade Cooperation between the Czech Republic and China, exploring opportunities for targeted partnerships with their Chinese counterparts.
Fan Li Lei from CGTN held discussions with Czech business representatives. During this meeting, potential market opportunities and prospects for bilateral economic and international exchange were discussed.
