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In pictures: The Hindu Huddle 2026 | Day 1

The Hindu Huddle on June 5 and 6, plays host to a host of thought-provoking talks, panel discussions and conversations. Here's a look at how the event unfolded.

The curious case of Rajesh Exports: Massive revenues, meagre profits

Mumbai: It is India's fourth biggest company by revenue, but the managing director of precious metals trader Rajesh Exports (REL) apparently doesn't know how and from where it gets the biggest chunk of the revenue, show the findings of a regulatory investigation.In its investigation report, the Securities and Exchange Board of India observed allegedly unscrupulous activities by REL's promoters, such as accounting irregularities and siphoning off of company funds into personal accounts, and also pointed out lapses by its auditors. The regulator said the company and its auditors were non-cooperative."The acts of REL constitute a deliberate device, scheme and artifice to mislead and defraud investors dealing in the shares of REL by portraying an inflated and misleading picture of its operational scale, revenue and financial health," Sebi observed in its report.The company, eponymously named after its chairman Rajesh Mehta, is accused of committing an elaborate financial fraud that includes dressing-up of revenues of ₹15.15 lakh crore over the years, personal gold trades covered up as corporate sales and phoney gold mine investments of ₹1,035 crore, according to the interim report.REL denied the charges of misdeeds. In a press release Thursday, the company said the revenues stated in its financials were correct and that the confusion arose because of a mix-up between Ebitda and revenue numbers at Swiss refiner Valcambi SA, an indirect subsidiary.Sebi has not made any adverse observation with regard to earnings, the company said, claiming that the regulator has only observed suspicion with regard to revenues which was primarily because of confusion over the Valcambi numbers.Numbers don't add upIn fiscal 2025, REL reported consolidated revenue of ₹4.23 lakh crore against a profit after tax of just ₹95 crore, translating into a net margin of barely 0.02%. The year before, on ₹2.8 lakh crore revenue, profit was ₹336 crore.Experts who have studied the Sebi report and the company's annual reports say the numbers did not add up. The business appeared to be operating at margins that were not merely thin but structurally negligible, they said."It looks like a case of pass-through accounting. There is no value creation. It was 'flow of gold' being booked as revenue," said a leading auditor on the condition of anonymity.Sebi, which began the investigations in March 2024 following a shareholder complaint about suspected accounting malpractices, said it found that about 97-99% of REL's consolidated revenues were attributed to its overseas subsidiaries, principally Valcambi. But Valcambi's own accounts, audited by KPMG SA, recorded only processing fees that were about ₹3,027 crore across five years.Valcambi refined gold on behalf of clients and never took ownership of the precious metal or recognised the value of gold as revenue in its books. Yet, Global Gold Refineries AG (GGR), the parent of Valcambi that had no independent operating business, recorded gross revenues running into hundreds of crores by including the gross value of gold that actually belonged to others, according to the Sebi report.Rajesh Exports, which owns GGR through a Singapore subsidiary, used those unaudited figures in its financial statements, significantly bumping up the company's revenue, it said.In its press release, REL said: "The core observation in the order is with regard to the misreporting of the revenues. This has emerged primarily due to confusion because Sebi has considered the Ebitda of Valcambi instead of revenue hence it has stated that there is a difference of about 97% in the revenue.""There is no reason for any listed entity to inflate revenue and maintain the earnings, this will only reduce the margins of the company, which would be adverse to the company," it said.Senior management in the darkThe senior management of REL told regulators that most of them were in the dark about the company's overseas operations and only the promoter, Rajesh Mehta, dealt with those activities."Valcambi SA does not have any gold mine on its own," managing director Suresh Gowda was quoted in the Sebi order as saying. "It refines the raw gold purchased by it from various entities, whose names I do not recollect, as these things are exclusively handled by Rajesh Mehta, chairman of REL. I have never interacted nor involved with any subsidiary/step-down subsidiary of REL, as these were exclusively taken care of by Rajesh Mehta," he told the investigators, as per the order.According to the report, REL booked ₹11,487 crore in sales between 2021-22 and 2023-24 to Affluence Shares and Stocks, a broker that made up to 66% of the company's standalone revenue for that period. But Affluence, in formal depositions to the regulator, said it had not done any business with REL.Following the transaction trail, the investigators found out that the transactions were personal gold derivative trades executed by promoter Mehta using his own brokerage account and then recorded in the company's books as corporate sales, the order said.The investigators also found that Mehta used corporate funds. As per the Sebi observations, bank records show REL transferred ₹338.90 crore directly into Mehta's personal accounts between April 2020 and September 2025.Unlike in the case of Nirav Modi or Gitanjali Gems, who are accused of bank fraud, Rajesh Exports doesn't appear to have borrowed big from banks or through sale of bonds, according to regulatory filings.The company's market cap was just over ₹3,000 crore, as per Thursday's closing share price. LIC (10.8%) and Bridge India Fund (8.46%) are its major institutional shareholders."It is striking that, even at a peak market capitalisation of ₹25,000 crore, the company did not hold any analyst calls, a basic expectation for a listed company of that scale," said Shriram Subramanian, founder and managing director of InGovern Research Services, a corporate governance advisory firm.The regulator in 2024 hired BDO India Services to investigate. But the forensic audit faced problems at almost every stage of the investigation. It was denied access to ERP systems and was not provided a complete journal dump, preventing independent verification of transactions recorded in the books, according to the regulatory report.And the company declined to share subsidiary-level records with the investigator, citing Swiss data protection laws, limiting auditors largely to reviewing financial statements prepared by the management itself rather than underlying evidence, it said.What's also come under the scanner was the conduct of statutory auditors for the last few years: CA PV Ramana Reddy, the proprietor at PV Ramana Reddy & Co, and CA PL Venkatadri, partner at BSD & Co.The company's FY24 and FY25 annual reports, filed with the stock exchanges, carry an unqualified opinion from BSD & Co, which concluded that the financial statements presented a "true and fair view" in line with Indian Accounting Standards.The company's FY24 Directors' Report noted that the statutory and secretarial auditors had made no qualifications, reservations or adverse remarks.The Sebi report said for over five months, the auditors sat on the regulator's request for missing documents and statements.Emails sent to both audit firms did not elicit any response.REL closed 5% lower at ₹103.92 Thursday on the NSE. The shares are down from their peak of ₹1,028.40 on February 6, 2023.

"US, Israel Trying To Sow Division After Decisive Blow": Mojtaba Khamenei

A woman holds a picture of Iran's new Supreme Leader, Mojtaba Khamenei, during a rally in Tehran

The ₹ warning: Six actions for biz leaders

The Indian rupee is trading around Rs. 95-96 to the dollar in late May 2026, setting fresh record lows. Markets are openly discussing the Rs. 100 threshold. The rupee has weakened in almost every year since 2014 and has lost approximately half its value against the dollar over that period. The end of this currency depreciation is not in sight. The factors that would stop it are not yet visible.The government is acting. State run oil companies have implemented four fuel price hikes in ten days as of May 25, taking petrol in Delhi past Rs. 102 per litre. This is the right and necessary response to the energy cost reality created by the Iran war. Crucially, the Modi government has also done its part on the macroeconomic front, consistently and aggressively reducing the fiscal deficit as a percentage of GDP to maintain structural stability.Yet, the currency pressure persists. The energy price impact has not yet fully reached Indian consumers and supply chains. It is coming.Uday Kotak said it plainly at the CII Annual Business Summit on May 12: "Be ready for tough times rather than waiting for the shock to hit us." He was right.Also read | Manufactured monopoly: How industrial policy is structuring monopolies in IndiaThis is not a time to panic. But it is a time to act. The leaders who move now will have options. Those who wait will not.The Overriding Factor: The Psychology of the PlayersWhy is the currency declining despite strong domestic fiscal discipline? Because exchange rates are not driven by mathematical models alone. The currency decline is highly affected—and accelerated—by the psychology of all players engaged in this endeavor.Currency movements are deeply behavioral. When a currency visualizes a downward trend, psychology shifts from calculation to self-protection and speculation. Every player in the ecosystem operates under this psychological weight:Corporate CFOs and Treasurers: Instead of hedging normally, they rush to cover future dollar liabilities early, hoarding hard currency and inadvertently worsening the scarcity.Foreign Investors: They begin to judge their returns not by the quality of Indian business operations, but by the eroding value of the conversion rate.Importers and Exporters: Importers advance their payments to avoid paying more tomorrow; exporters delay converting their dollar earnings back into rupees, waiting for a "better" rate. This collective psychology creates a self-fulfilling prophecy.Investors, CFOs, and FDI decision makers extrapolate what is happening now into the future. When they see a currency that has lost approximately half its value since 2014 with no clear floor in sight, their psychological pivot alters market realities.Also read | India tightens checks on overseas flows as currency pressure mounts, sources sayThe cascading timeline of Foreign Portfolio Investor (FPI) equity behavior perfectly mirrors this psychological shift from rational evaluation to systemic risk aversion:2024 (The Calculation Phase): Rupee averages Rs. 83-84. FPI flows remain positive (+$12 billion) as investors trade on strong domestic corporate earnings.2025 (The Self-Protection Phase): Rupee slides past Rs. 89. Collective psychology shifts to risk mitigation. FPIs withdraw a record $18.4 billion from Indian equities—the largest annual equity outflow on record.Early 2026 (The Capitulation Phase): Rupee breaks past Rs. 95. Sentiment turns into an outright exit strategy. In the first four months of 2026 alone, outflows have already reached $19.1 billion, completely bypassing the entire previous year's record loss in a fraction of the time.FDI agreements are being signed, but capital is delayed because players are psychologically hesitant to deploy funds into a depreciating asset.The Trap of Hard Currency Debt: A Broken Business Model There is a highly significant and dangerous phenomenon unfolding in India today that requires immediate exposure. For years, a specific class of Indian corporates adopted a regular strategy of borrowing heavily in hard currency (External Commercial Borrowings, or ECBs). Lured by low nominal global interest rates, several of these companies over borrowed, treating cheap dollar debt as a permanent structural advantage.Today, that strategy has become a trap. The compounding effect of a depreciating rupee, skyrocketing hedging costs, and brutal refinancing realities is fundamentally breaking their business models.Consider the mechanics of this crisis:The Hedging Penalty: Leaving dollar debt unhedged is now corporate roulette. However, buying hedges at current rupee levels has become structurally prohibitive. The cost of protection completely wipes out any interest rate advantage.The Refinancing Wall: Billions in foreign debt are coming due. These over-borrowed companies must now refinance their liabilities at a time when the rupee value has materially deteriorated. They are effectively forced to borrow far more rupees just to pay back the same amount of original dollars.The Crushing Cost of Rupee Capital: As these companies try to pivot back to domestic lenders, they face a severe escalation in their rupee cost of capital.The Growth Verdict: When your cost of capital spikes and your cash flows are consumed by servicing legacy dollar debt, future growth stops. Capital expenditure (CapEx) plans are being frozen. These companies can no longer invest in innovation, capacity, or market expansion. Their business model shifts overnight from aggressive value creation to basic survival. Boards must realize that this is not a temporary treasury headache; it is a structural threat to the company’s future viability.India's forex reserves stand at approximately 10 to 11 months of import cover. Substantial, but being actively deployed to defend the currency. Some imports are non-negotiable: oil, critical inputs, components. These will now cost more. That cost passes through every supply chain.Six Actions for Business Leaders1. Protect your cash and liquidity first. This is the most immediate priority. Map your cash position today. Identify every source of liquidity across the next twelve months. Stress-test it at Rs. 100 and beyond. Which receivables are at risk? Which credit lines are rupee-denominated and which are not? Companies that run into a cash crisis during a currency depreciation cycle lose their options entirely. The CFO must own this analysis and present it to the board within days, not weeks.2. Act now on your foreign currency borrowings, hedging, and refinancing. Do not assume the rupee will recover to Rs. 80. Analyse your full foreign currency exposure across the next three years: every loan, every refinancing date, every hedging contract, every procurement price denominated in foreign currency. Hard currency loans now face refinancing at rupee values that have materially deteriorated. Model every scenario at Rs. 100 and beyond. Your CFO, treasury, and procurement team must be aligned on one instruction: do not run into a liquidity crisis. This analysis must happen now, not at the next quarterly review.3. Build a war room. Most companies have begun thinking about war rooms for supply chain disruptions. Expand the mandate. Currency exposure belongs in the same room. Which of your costs are dollar or euro denominated? Which of your revenues are rupee denominated? Where is the mismatch? What is your break-even exchange rate? If you do not have clear answers today, you are exposed. The war room is not a committee. It is a real-time decision environment with live data, a clear owner, and the authority to act.4. Use the currency depreciation advantage: double your export salesforce. A weaker rupee makes Indian exports more competitive. This window will not stay open indefinitely. Double the salesforce in your export markets now. Use this period to upgrade quality, improve service delivery, and build customer relationships that will last beyond the currency advantage. Indian exporters who invest in capability during this period will emerge stronger regardless of what the rupee does next. Those who simply ride the price advantage without building the underlying business will lose when conditions change.5. Watch your stock and your sector. Banks and financial institutions should already be on high alert. Companies with large foreign currency exposure will see pressure on their financials. Some stock prices are already reflecting this. Go through your sector company by company. Identify who is most exposed. If you are an investor or a lender, this analysis is not optional. The combination of currency depreciation, rising oil prices, and FPI outflows creates a compounding pressure that will surface in earnings before it surfaces in headlines.6. Cut costs aggressively. AI will help. There has never been more urgency to reduce costs than now. And there has never been a better tool to do it. AI can cut most operational costs by as much as 30% across functions: procurement, finance, customer service, logistics, and compliance. McKinsey data confirms companies adopting AI and automation reduce operational costs by 20 to 30 percent. This is not a future opportunity. It is a present imperative. Every rupee of cost removed through AI is a rupee that does not need to be recovered through revenue in a deteriorating currency environment. Start now with your highest-cost functions.The CFO as CaptainCurrency risk is a cash flow risk. Every function that touches foreign currency—procurement, treasury, sales, capex planning— must now report into a single coordinating authority. That authority is the CFO. This is not about hierarchy. It is about clarity. In a currency crisis, fragmented decision-making is as dangerous as wrong decision making. One captain. One consolidated view. Weekly reviews minimum.The Bigger PictureThis currency depreciation is a structural signal, not a cyclical one. India's economy must move from a cheap labour advantage to genuine global value creation.The companies that will survive and thrive are those building products and services that command premium prices in global markets. The rupee's weakness is a reminder that competing on cost alone has limits.The recently concluded trade agreements are a genuine opportunity. Execute them with full force. Build the export pipelines. Add the sales capacity.The businesses that move now, with discipline and clarity, will manage market psychology, navigate the debt trap, and define the next chapter of Indian industry.The shock is coming. Prepare before it arrives.Ram Charan is the author of China’s 90% model. It is restricting India’s industrial progress. Former Director of Hindalco and Muyuan (China).

Exit Ranveer, enter a clearer picture for artist exit

Doctor reveals 4 health markers that may predict heart attack and stroke risk

Doctors are now suggesting looking beyond just LDL cholesterol for heart health. New markers like ApoB, hs-CRP, insulin resistance, and abdominal obesity provide a better and fuller picture. These factors reveal how inflammation, metabolism, and body fat impact vascular health. Understanding these elements helps identify risks earlier for better prevention.

Bonfim eyes UFC title picture: 'A win over Belal puts me in contention'

Gabriel Bonfim believes a win over former champion Belal Muhammad can establish him as a legitimate UFC welterweight contender. Riding a four-fight winning streak and coming off a statement knockout of Randy Brown, the Brazilian enters his second consecutive main event with growing confidence. Yet Muhammad's relentless pressure, wrestling and ability to thrive in long fights present a different challenge. For the former champion, it is a chance to halt a slide. For Bonfim, it is an opportunity to move closer to the title picture.

Bengaluru woman says she found lowest price flat - ‘1RK for ₹25,000’; internet is in two minds

Bengaluru woman shared the cheapest flat in Bengaluru starts from ₹25,000 and it wasn't even a 1 BHK. Check out pictures.

Zee Entertainment shares surge 20% in 5 days. What's behind the rally?

Shares of Zee Entertainment Enterprises jumped 7% on Monday, extending gains for the fifth consecutive session, with its market cap swelling by over Rs 1,662 crore during the gaining streak.The stock has surged 20% in the last five sessions to hit a nearly six-month high of Rs 99.44 apiece on Monday morning. The company’s market capitalisation increased to Rs 9,551 crore.What's driving the rally in Zee's share price?The recent surge comes amid buzz over the company nearing a deal to bag India media rights for 2026 FIFA World Cup after Reliance Industries’ JioStar exited the race. In an exchange filing released last week, Zee confirmed it is in talks with Fédération Internationale de Football Association (FIFA) to broadcast and stream the World Cup in India as part of its efforts to “build a competitive sports content offering.”The 2026 FIFA World Cup will run from June 11 to July 19 in the United States, Canada and Mexico. People familiar with the matter told The Economic Times that JioStar had made a final offer of about $15 million before backing out, citing the narrow window between the signing of the agreement and the start of the tournament, leaving limited time for monetisation.Notably, Zee had exited sports broadcasting in 2016 after selling Ten Sports to Sony Pictures Networks India for $385 million. Zee re-entered sports in 2021 by acquiring the long-term global media rights for the International League T20 (ILT20) in a deal estimated at $100-150 million, signalling its intent to rebuild a sports portfolio.The broadcaster is now sharpening its focus on sports with plans to launch four channels: Unite8 Sports 1 and Unite8 Sports 1 HD in Hindi, and Unite8 Sports 2 and Unite8 Sports 2 HD in English.Zee share priceZee shares have surged over 20% in one week and 11% in one month. The stock has gained around 10% in 2026 so far. In the longer term, however, the stock declined nearly 24% in one year, over 48% in three years and 53% in five years.The stock currently has a P/E ratio of more than 32x.Zee earnings snapshotEarlier in May, Zee Entertainment Enterprises reported a consolidated net loss of Rs 104 crore for the January-March quarter of FY26, as against a net profit of Rs 188 crore in the year-ago period. The media & entertainment company's operating revenue declined 7% to Rs 2,025 crore in Q4 FY26, compared to Rs 2,184 crore posted by the company in the corresponding quarter of the previous financial year.The Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) loss stood at Rs 269 crore versus Rs 285 crore in Q4 FY25 and Rs 240 crore in Q3 FY26. The adjusted EBITDA declined 51% YoY and 42% QoQ.(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)

How Shahzad Bhatti, Handler Of Foiled Delhi-Mumbai Attack Plot, Picked Men For The Job | Exclusive

Bhatti and his gang utilises various social media platforms such as Instagram, Facebook by glamourising pictures of guns, grenades and drugs to lure youngsters, say sources

'Misleading financial statements': Suzlon to challenge Sebi's penalty order before SAT

Suzlon Energy plans to challenge a recent Sebi order that imposed penalties of nearly Rs 29 crore on the company and several former executives over alleged accounting and disclosure violations. In an exchange filing, Suzlon said it intends to file an appeal before the Securities Appellate Tribunal (SAT) against the regulator's order dated May 29."The findings of Sebi in the said order are related to the financial statements of the company from FY14 to FY18. The company will be filing an appeal before the Securities Appellate Tribunal in respect of the Sebi order," the company said.The development comes a day after Sebi imposed penalties on Suzlon and a number of former senior executives following a long-running investigation into the company's historical financial reporting practices.The market regulator levied a penalty of Rs 15.95 crore on Suzlon, while former executive Vinod R Tanti was fined Rs 5.75 crore and Girish R. Tanti was penalised Rs 5.45 crore. Former group CFO Kirti J. Vagadia was fined Rs 1.5 crore, while former CFO Amit Agarwal was directed to pay Rs 30 lakh.Sebi action followed a forensic audit and investigation covering multiple financial years after the regulator received a complaint alleging irregularities in dealings involving subsidiaries and associate entities.The regulator concluded that certain transactions between Suzlon and its subsidiaries had the effect of overstating profits and strengthening the appearance of the company's financial position.Among the issues examined were transfers of businesses and investments among group entities, accounting treatment of contingent liabilities, impairment reversals and disclosures made in financial statements.According to Sebi, some transactions involving subsidiaries resulted in substantial accounting gains being recorded without reflecting the underlying economic reality of the arrangements. The regulator also questioned the treatment of certain liabilities and fund flows between group entities, concluding that the company's disclosures did not present a true and fair picture of its financial position during the period under review.Sebi said accurate financial statements are critical because investors rely on them while assessing the health and prospects of listed companies. The regulator held that the violations warranted monetary penalties under provisions relating to disclosure norms, listing regulations and fraudulent and unfair trade practices.Suzlon, however, has now moved to contest the findings before the appellate tribunal.The company has undergone a significant turnaround over the past few years after overcoming a prolonged debt crisis and has emerged as one of the biggest beneficiaries of India's renewable energy push. It recently reported strong operational performance and remains one of the country's largest wind energy equipment manufacturers.The appeal before the SAT will determine whether the regulator's findings and penalties are upheld, modified or set aside. Until then, the Sebi order remains in force.(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times.)

Delhi Police arrest eight for planning attacks in Delhi, Mumbai

‘We have collected evidence, including some pictures, videos, and coordinates of specific government and non-government buildings and security establishments at which these attacks were being planned,’ senior police official says

Flight attendant’s picture with Tamil Nadu CM Vijay mid-flight sends fans into complete meltdown

A viral in-flight photo of Tamil Nadu Chief Minister C. Joseph Vijay has thrilled fans, capturing a memorable moment for a flight attendant. This comes as Vijay makes his first official visit to New Delhi, meeting Prime Minister Narendra Modi.

Inside the new IIP index with new base year

India is undertaking the revision of Index of Industrial Production (IIP) and plans to release the new series on June 1, 2026, marking the tenth revision of base year. The Ministry of Statistics and Programme Implementation (MoSPI) has broadened the scope of the index to include 120 new item groups and enhance the granularity by providing separate indices for numerous sectors.The base year of IIP is being shifted to 2022-23 from 2011-12. The new IIP will track several new items such as magnetic stripe cards including debit and credit cards, CCTV cameras, non-woven textile products, aircraft and spacecraft parts, stents, and vaccines.The revised series significantly widens the scope of industrial activity captured in the index by adding emerging and previously underrepresented sectors such as rare earth minerals, gas supply, water management and waste treatment.MoSPI has also overhauled the product basket to better reflect contemporary industrial production patterns, replacing obsolete items with newer commodities and aligning the series with the updated National Industrial Classification (NIC)-2025 framework. The revised basket now comprises 1,042 products mapped to 463 item groups, including 120 new item groups. MoSPI has dropped 64 item groups from the list, which include kerosene, fluorescent tubes and CFLs, tubes for bicycle, tricycle and rickshaw tyres.The new series introduces more granular sub-indices, including separate tracking of renewable and non-renewable electricity generation, allowing policymakers to better monitor India’s evolving energy mix. The mining and quarrying segment has also been split into dedicated indices for fuel minerals, metallic minerals and non-metallic minerals.The revised methodology also allows statistical authorities to replace permanently shut factories with comparable operating units and induct newly commissioned large factories into the sample base during the life of the series. This is expected to improve the representativeness and timeliness of industrial output data.MoSPI will use a geometric mean-based approach to transition from the 2011-12 base series to the new 2022-23 series.Why is the base year being revised?According to a government release, the IIP base year is revised to reflect structural changes in the economy, technological progress, and the growth of new industries and products. “Revising the base year ensures that the index accurately represents current production patterns and provides more reliable data for economic analysis and policy-making,” MoSPI said.A Report of the Technical Advisory Committee for ‘New Series of All India Index ofIndustrial Production 2022-23’ highlighted the need for periodic revision which arises from the dynamic nature of the economy.“The structure of production, the relative importance of industries, and the range of products manufactured undergo continuous change over time,” it said, adding that regular revisions of the base years of economic indicators like IIP are therefore essential to ensure that they remain representative of current industrial activity.The index must continue to accurately reflect evolving economic realities.Citing “significant” advancements in statistical methodologies and computational capabilities over the period, MoSPI report said that the processes that were difficult to execute have now become relatively easier to implement.The new IIP series retains the existing sectors of Mining, Manufacturing, and Electricity. However, it expands the scope by including Gas Supply and Water Supply, Sewerage & Waste Management activities, giving a broader and more accurate picture of industrial production. In the Mining sector, the new IIP series also includes minor minerals and rare earth minerals along with major minerals, making the index more comprehensive.131367884The item basket for sectors, other than Manufacturing, is selected based on the nature of activities and key measurable outputs of each sector. MoSPI, in certain cases, has held consultation with concerned ministries and departments.The new item baskets are as follows:The ‘Mining & Quarrying’ basket includes 34 minerals comprising fuel minerals and metallic & non-metallic minerals regulated, along with 1 rare earth mineral and 9 minor minerals.The ‘Electricity’ basket covers total electricity generation from both renewable and non-renewable sources.The ‘Gas Supply’ basket uses the volume of gas supplied or distributed through mains/pipelines as the item of measurement.Under the ‘Water Supply, Sewerage & Waste Management’, the government tracks water supply through tap connections, sewerage through sewerage/septage connections and waste management through the quantity of waste collected and processed.MoSPI has formed the item groups for IIP by aggregating products based on similarity within the industry group to ensure consistency, comparability, and operational feasibility in monthly data reporting.The government has also kept the revision of substitution of the factories in the new series of IIP to address the challenges of prolonged non-response or closed factory.While the six use-based categories—Primary Goods, Capital Goods, Intermediate goods, Infrastructure/ Construction Goods, Consumer Durable Goods and Consumer Non-Durable Goods—remain the same as the 2011–12 series, individual item classifications have been reviewed in detail and updated.Why is IIP important?The report recognised that the index is “not just a technical statistical indicator, but an important measure” that stakeholders understand the health and direction of the economy.The IIP provides one of the earliest signals of industrial performance, and hence plays a crucial role in economic planning, policymaking, and market analysis.The index plays a pivotal role in tracking cyclical conditions, informing fiscal and monetary policy deliberations, and shaping expectations of businesses and investors, helped by macro and sectoral analysts.MoSPI believes in the idea that economic statistics must keep pace with the economic transformations, and hence new products, emerging technologies, evolving production systems, and changing patterns of industrial activity are being included in the index calculation.“Industrial statistics cannot remain fixed while industries themselves are rapidly changing,” it said in the report cited above.

In pictures | India celebrates Id-ul-Adha

From Festive gatherings to bustling market places, to sharing meals, to charity and community celebrations, a look at how India is celebrating Id

'Majnu Bhai would be proud': Portrait gifted to Bihar CM Samrat Choudhary by Patna builder goes viral

Sanjeev Shrivastav, reportedly a builder, posted pictures of his meet with Samrat Choudhary on his Insta on Tuesday, in which he was seen presenting a portrait.

Explainer: Despite Trump's Pressure, Cuba May Not Turn Out Like Venezuela

A person holds a picture of former Cuban president Raul Castro