Business
India’s services, manufacturing’s export potential untapped; FDI a concern: World Bank South Asia chief economist – The Times of India
India’s services and manufacturing exports hold significant untapped potential for overseas investors, according to Franziska Ohnsorge, Chief Economist for South Asia at the World Bank.“I draw attention to two opportunities for investment. One is in services exports and the other is in goods exports because it’s the export industry rather than tradable industries that foreign investors tend to be interested in,” Ohnsorge told ANI on the sidelines of the Kautilya Economic Forum in New Delhi. She added that India’s strong government readiness for AI further strengthens this potential.Ohnsorge pointed to the rapid expansion of computer services exports, which surged 30 per cent following the launch of ChatGPT in November 2022, compared to a 10 per cent rise in overall services exports. “Computer services exports have been soaring relative to average services exports since the introduction of ChatGPT in November 2022. So computer services exports have grown by 30 per cent, but overall services exports only by 10 per cent. There seem to be real opportunities in that sector,” she said.On manufacturing, she underlined constraints posed by limited trade agreements and high tariffs on intermediate goods. “India currently has much fewer trade agreements than other emerging markets and developing economies and has higher tariffs on intermediate goods and this is something that holds back its manufacturing sector. So I’ll show that if these trade agreements that are currently under negotiation materialise, it would increase the market access of India’s manufacturing industry by multiples,” she noted.India is currently negotiating free trade agreements (FTAs) with partners including the UK, EU, Oman, Canada, and members of the Indo-Pacific Economic Framework (IPEF). Bilateral trade discussions with the US are also ongoing.On investment trends, she observed that private investment growth in India has slowed compared to pre-pandemic levels, but remains stronger than in most emerging markets. “Private investment growth has slowed in India from pre-pandemic rates to post-pandemic rates. And that is the opposite of what has happened in other emerging markets and developing economies. But even with this slowdown, private investment growth in India is still higher than the average for other emerging markets and developing economies. So by international standards, private investment growth is not weak. By India’s standards, it’s weak,” she explained.However, she flagged foreign direct investment (FDI) as a key area of concern. “What is weak by international standards is FDI. The FDI to GDP ratio in India is in the bottom quartile. Net FDI. GDP ratio is in the bottom quartile of emerging markets and developing economies,” she added.
Getty ImagesThe publisher of the Daily Mail has agreed to buy the Daily and Sunday Telegraph for £500m.
The Daily Mail and General Trust (DMGT) said it had entered a period of discussion with RedBird IMI, which is a joint venture between the United Arab Emirates and the US private equity firm RedBird Capital Partners.
RedBird Capital’s own bid for control of the Telegraph collapsed last week.
The deal needs to be signed off by Culture Secretary Lisa Nandy. A spokesperson said Nandy would “review any new buyer acquiring the Telegraph in line with the public interest and foreign state influence media mergers regimes”.
DMGT and RedBird IMI have said they expect the deal to be finalised “quickly”.
DMGT chairman Lord Rothermere said he had “long admired the Daily Telegraph” and the deal would give “much-needed certainty and confidence” to its employees.
He said: “The Daily Telegraph is Britain’s largest and best quality broadsheet newspaper and I have grown up respecting it. It has a remarkable history and has played a vital role in shaping Britain’s national debate over many decades.”
He added: “Chris Evans is an excellent editor and we intend to give him the resources to invest in the newsroom. Under our ownership, the Daily Telegraph will become a global brand, just as the Daily Mail has.”
The purchase would see the Telegraph become part of DMGT’s portfolio of media organisations, which includes the i Paper, Metro and New Scientist, along with the Daily and Sunday Mail papers.
The group said the Telegraph would remain editorially independent from DMGT’s other titles.
It also said its case for having the deal approved was “compelling” and would comply with UK regulations, as there would be no foreign state investment or capital in the funding structure.
A spokesman for RedBird IMI said: “DMGT and RedBird IMI have worked swiftly to reach the agreement announced today, which will shortly be submitted to the secretary of state.”
RedBird Capital pulled out of a deal to buy the Telegraph last week.
It had a previous attempt to buy the group rebuffed by politicians as it was majority-funded by Abu Dhabi’s IMI group – which is owned in turn by the Abu Dhabi royal family.
A law change meant that foreign sovereign wealth funds could take a maximum stake of 15% in newspapers or periodicals.
Its more recent bid complied with that rule, but it was understood that the government intended to submit the deal to regulatory review.
Sources close to RedBird insisted that they were confident that the bid would have passed a government review process, but cited negative articles toward the bid from the current Telegraph newsroom as a factor in shelving their interest.
RedBird founder Gerry Cardinale had planned to expand the Telegraph’s reach and subscriber base in the US, believing there to be a gap in the market.
Among other investments, RedBird owns the Italian football team AC Milan.
The Telegraph has been in limbo for over two years, when the RedBird IMI consortium paid off the debts of the Telegraph’s previous owners, the Barclay family, hoping to take eventual ownership of the newspapers.
Business
Trade outlook: India’s exports hold steady amid Donald Trump tariffs; new markets offset US slowdown – The Times of India
India’s export performance has remained steady even as global markets face volatility, according to SBI Research, which shared its assessment. As per news agency ANI, the report states that merchandise exports between April and September in FY26 touched $220 billion, a 2.9 per cent rise from $214 billion in the same period last year. Exports to the United States also increased by 13 per cent to $45 billion, although shipments in September dipped nearly 12 per cent year-on-year.The US continues to be a key market, but its share in India’s total exports has fallen since July 2025, reaching 15 per cent in September. SBI Research highlights mixed sectoral trends. The US share in India’s marine product exports declined from 20 per cent in FY25 to 15 per cent in September, and its share in precious stones fell sharply from 37 per cent to 6 per cent. However, both marine products and ready-made cotton garments still registered growth during the April–September period.At the same time, as per ANI, India’s export basket has become more geographically diverse. Countries including the UAE, China, Vietnam, Japan, Hong Kong, Bangladesh, Sri Lanka and Nigeria saw higher shares across several product groups. SBI Research suggests that some of this may indicate indirect routing of Indian goods, noting that Australia’s share in US imports of precious stones rose from 2 per cent to 9 per cent, while Hong Kong’s share increased from 1 per cent to 2 per cent.On the trade policy front, India is grappling with higher US tariffs under the Trump administration, which have hit textiles, jewellery and seafood — particularly shrimp. To support exporters, the government has approved Rs 45,060 crore in assistance, including Rs 20,000 crore in credit guarantees.The rupee also faced pressure, slipping to 89.49 against the dollar on Friday amid global financial turbulence. According to ANI, the Reserve Bank of India reiterated that it does not defend any fixed exchange rate, and analysts see the decline as a temporary adjustment.India’s current account deficit narrowed to 0.2 per cent of GDP in Q1 FY26, improving from 0.9 per cent a year earlier, supported by services exports and remittances. SBI Research expects the deficit to widen slightly in the next two quarters before turning positive by fiscal year-end, projecting a full-year deficit of 1.0–1.3 per cent of GDP and a balance-of-payments gap of up to $10 billion.
Toothbrush and toothpaste packs worth a combined £20,000 are to be given to foodbanks and other organisations for distribution to vulnerable people.
North Northamptonshire Council said the funding from Northamptonshire NHS Integrated Care Board would help people “who need it the most” fight tooth decay.
Martin Langford, Corby Foodbank’s manager, said the packs would “make a real difference to how people look and feel”.
Brian Benneyworth, the Reform UK council’s executive member for health and leisure, said: “These toothbrushing packs are a simple but powerful way to help those who are most vulnerable, providing not just the tools but the dignity of self-care.”
Mr Langford said: “Access to basic hygiene items, such as toothbrush packs, is often underestimated but they make a real difference to how people look and feel.
“It strengthens our ability to reach those most in need and ensures we can continue making a positive impact within the community.”
Jane Bethea, director of public health, communities and leisure at the council, said: “Poor oral health is a major public health concern and can have a negative impact on our overall health and wellbeing and affect what we eat, how we communicate and our self-confidence.”
Guidelines recommend that people brush their teeth twice at day. Poor dental hygiene can led to tooth decay and gum infections, which can lead to tooth loss and gum disease.
Mr Benneyworth said: “Under current financial pressures, due to the cost of living crisis, some households are having to make very difficult choices about what they can and cannot buy.
“In these situations, items such as new toothbrushes and toothpaste could be seen as less important than essentials such food and heating.”
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