Category: Business

Business

MSMEs Backbone of Economy, Key to Viksit Bharat: CMD IREDA at 22nd Stakeholders’ Meet

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Written by Intern Rency Gomes || Team Allycaral 

New Delhi, February 23, 2026: Indian Renewable Energy Development Agency Ltd. (IREDA) organised its 22nd Stakeholders’ Interaction Meet at the India International Centre, New Delhi, under the chairmanship of  Pradip Kumar Das, Chairman & Managing Director. The event saw participation from nearly 100 borrowers and business partners representing various segments of the renewable energy value chain.


The meeting commenced with a detailed presentation outlining IREDA’s recent achievements, financial performance, major initiatives and an Action Taken Report addressing issues raised during the previous interaction. Stakeholders engaged with the management on sector-specific concerns, policy developments and financing norms.

Addressing the gathering, Das stressed the importance of maintaining strong asset quality and adhering to the highest standards of corporate governance to ensure IREDA’s long-term sustainability. On queries regarding interest rates, he explained that the organisation focuses on mobilising funds from the lowest possible cost sources and passing on the benefits to renewable energy developers. He noted that this approach aligns with RBI and other regulatory guidelines while supporting accelerated growth in the renewable energy sector in line with the Government of India’s vision.

Highlighting the importance of Micro, Small and Medium Enterprises (MSMEs), Das described them as the backbone of the economy and essential contributors to the Viksit Bharat vision by 2047. He added that MSMEs must uphold strong and qualitative corporate governance standards to enable lenders to extend financing at competitive rates.

The CMD further informed stakeholders that IREDA has strengthened its manpower across entry-level, middle and senior management positions by recruiting professionals from CPSEs, banks and private organisations, along with Executive Trainees from leading campuses, to enhance leadership capacity and operational efficiency.

The interaction concluded with a vote of thanks delivered by Dr. Bijay Kumar Mohanty, Director (Finance), IREDA.

Business

Alcobev Industry Urges Goa Govt to Delay DRS Rollout Amid Supply Chain Concerns

Tanisha Cardozo

The alcoholic beverage industry has urged the Goa government to defer the implementation of the proposed Deposit Refund System (DRS), citing serious operational, logistical, and economic concerns. The current rollout date of April 2, 2026, has been described by industry leaders as unrealistic and potentially disruptive.

Key industry bodies, including the Brewers Association of India, International Spirits and Wines Association of India, and Confederation of Indian Alcoholic Beverage Companies, jointly met officials from the Goa DRS Administration Committee, along with excise authorities and the appointed system operator, to discuss the framework.

While supporting the environmental intent behind the DRS, the industry has highlighted multiple gaps in the current proposal. One of the primary concerns is the lack of clarity around the Unique Serial Identifier (USI) specifications, which are critical for tracking and managing bottle returns. Without these guidelines, manufacturers are unable to begin essential preparations such as inventory buildup for the peak season.

The industry has also warned that existing production lines would require significant modifications, potentially reducing efficiency by 25–30 percent. This could lead to a shortfall of 10–15 lakh cases during the high-demand summer months. Additionally, high-speed technological alternatives would require up to five months for installation and validation—time that is not available under the current schedule.

Financial implications are equally concerning. Industry estimates suggest that disruptions could result in losses of hundreds of crores, including a projected ₹100 crore decline in excise revenue for the state.

Concerns have also been raised about the preparedness of the appointed system operator. With only 300 proposed return vending machines, the infrastructure is seen as inadequate to handle the volume of bottles recycled monthly. Furthermore, the proposal to impose a flat ₹10 deposit across all products—regardless of price—has been questioned as impractical.

Industry leaders have welcomed the formation of a joint taskforce to address these issues but emphasized that meaningful consultation requires adequate time. They have recommended deferring the rollout to post-October 2026 to ensure smoother implementation and avoid unintended economic consequences.

The development sets the stage for further discussions between policymakers and industry stakeholders, as Goa attempts to balance environmental responsibility with economic sustainability.

Business

Aravind Srinivas Becomes India’s Youngest Billionaire with ₹21,190 Crore Net Worth

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Written by Intern Rency Gomes || Team Allycaral 

Aravind Srinivas, Co-founder and Chief Executive Officer of Perplexity AI, has become India’s youngest billionaire, with a reported net worth of ₹21,190 crore, as per the Hurun India Rich List 2025.


The milestone highlights the rapid rise of artificial intelligence-driven startups and the growing global footprint of Indian-origin entrepreneurs in the technology sector. Perplexity AI, known for its AI-powered search and answer engine, has witnessed significant growth amid increasing demand for generative AI tools worldwide.

Srinivas, who previously worked in advanced research roles in artificial intelligence, co-founded Perplexity AI with the vision of building a more efficient and transparent AI-based information platform. The company’s valuation surge has contributed substantially to his billionaire status.

His inclusion as India’s youngest billionaire underscores a broader shift in wealth creation patterns, with technology and AI startups emerging as key drivers of new-age entrepreneurship.

The Hurun India Rich List 2025 reflects the expanding influence of tech founders in India’s wealth landscape, particularly those leading innovations in artificial intelligence, data science and digital platforms.

Business

Alcoholic Beverage Industry Urges Goa Government to Defer Deposit Refund System

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Written by Intern Rency Gomes || Team Allycaral 

Industry associations from the alcoholic beverage sector have appealed to the Goa government to postpone the implementation of the proposed Deposit Refund System (DRS), raising concerns over its readiness and feasibility within the stipulated timeframe.


According to industry representatives, the current timeline for rolling out the DRS is too short for manufacturers, distributors and retailers to put the necessary infrastructure in place. They argue that implementing the system without adequate preparation could disrupt supply chains and create logistical challenges across the state.

The Deposit Refund System is aimed at improving waste management and boosting recycling rates by levying a refundable deposit on beverage containers. Consumers receive the deposit amount back upon returning the empty bottles or cans to designated collection points.

However, industry bodies claim that several operational aspects — including reverse logistics, storage facilities, barcode integration, retailer onboarding and consumer awareness — require more clarity and time before full-scale implementation.

Stakeholders have called for a phased rollout or an extended transition period to allow businesses to adapt smoothly. They emphasised that while the industry supports sustainable waste management initiatives, the framework must be practical and economically viable.

The Goa government is yet to respond formally to the industry’s request, but discussions are expected as stakeholders push for a balanced approach between environmental goals and business feasibility.

Business

Goa Shipyard Limited Receives Golden Peacock HR Excellence Award 2025

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Written by Intern Rency Gomes || Team Allycaral 

Goa Shipyard Limited (GSL) has been honoured with the Golden Peacock HR Excellence Award for the year 2025, marking a significant milestone in the company’s commitment to exemplary human resource management.


The award was presented during the 20th International Conference on Corporate Social Responsibility, organised by the Institute of Directors (IOD) at Hotel Taj Lands End in Mumbai.

The accolade was received on behalf of GSL by Jahangeer Alam Ansari, Director (Finance), and Priya Bhagat, Deputy General Manager (HR). The recognition underscores the organisation’s continued focus on fostering a progressive workplace culture, strengthening employee engagement and implementing best-in-class HR practices.

The Golden Peacock Awards are regarded as one of the benchmarks of corporate excellence, celebrating organisations that demonstrate high standards of governance, innovation and people management.

The honour reflects GSL’s sustained efforts toward building an empowering and performance-driven work environment while aligning its human resource strategies with broader organisational goals.