In a swift response to market speculation, Reliance Industries Limited (RIL) has officially denied news reports claiming it has paused its ambitious battery manufacturing plans. On January 12, 2026, a company spokesperson reaffirmed that the development of its world-leading battery storage ecosystem is “progressing well” and remains aligned with previously stated timelines.

The clarification follows a report by Bloomberg News suggesting that the conglomerate had halted its lithium-ion cell production due to difficulties in securing technology from Chinese partners.

Categorical Denial: “No Change in Plans”

Reliance issued a strong statement to maintain investor confidence, emphasizing that its “Cell-to-Pack” strategy remains fully intact.

• Official Affirmation: The company “strongly and categorically affirms” that there has been no change in plans for its battery storage ecosystem.
• Integrated Ecosystem: The strategy continues to cover the entire value chain, from individual battery cells to containerized Energy Storage Systems (ESS).
• Timeline Security: Chairman Mukesh Ambani’s goal of starting operations at the Jamnagar Giga Factory by 2026 remains the active target.

“BESS manufacturing, battery pack manufacturing, and cell manufacturing have always been part of our energy storage plans and we are progressing well in their execution.” — Reliance Industries Spokesperson

The Context: Addressing the “Chinese Technology” Rumors

The reports claimed that Reliance had been in talks with Xiamen Hithium Energy Storage Technology, a Chinese supplier of Lithium Iron Phosphate (LFP) cells, to license technology. These reports suggested that the deal stalled due to Beijing’s tightening restrictions on overseas technology transfers in the clean energy sector.

Reliance’s Strategic Moat

While the industry faces global bottlenecks, Reliance is leveraging its Dhirubhai Ambani Green Energy Giga Complex in Jamnagar to build a self-sufficient ecosystem.

• Diversified Tech: Reliance has already acquired or partnered with several global disruptors like Faradion (Sodium-ion), Lithium Werks (LFP), and Ambri (Liquid metal batteries).
• Scalability: The initial capacity of 40 GWh is designed for modular expansion to 100 GWh to meet the skyrocketing demand for EVs and grid storage.

Massive ₹7 Lakh Crore Commitment

The denial comes just 24 hours after Mukesh Ambani announced a fresh ₹7 lakh crore investment in Gujarat over the next five years. A significant portion of this capital is earmarked for:

1. Green Hydrogen: Achieving a production target of 3 million tonnes per annum by 2032.
2. Solar Giga Factory: Scaling to 20 GW capacity by 2026.
3. AI & Data Centers: Building India’s largest AI-ready data center in Jamnagar.

Market Impact

Following the clarification, Reliance shares stabilized on the BSE and NSE, trading around ₹1,478. Analysts suggest that the firm’s ability to navigate geopolitical hurdles—specifically technology export controls—will be a key factor for the stock’s performance in the 2026 fiscal year.

By rejecting the “halt” narrative, Reliance has signaled that its transition from a fossil-fuel giant to a green energy powerhouse is moving forward at full throttle, regardless of external supply chain pressures.

In a major push to increase the reach of public service broadcasting, the Indian government has requested smartphone and Smart TV manufacturers to pre-install WAVES, the official OTT platform of Prasar Bharati. This move, initiated in early 2026, aims to make the vast library of Doordarshan and Akashvani content immediately accessible to millions of new device owners.

The directive follows the successful launch of WAVES at the 55th International Film Festival of India (IFFI) and aligns with the government’s broader strategy to modernize public media consumption.

What is WAVES? The “All-in-One” Public App

WAVES is more than just a streaming service; it is an integrated digital ecosystem designed to compete with global giants while preserving Indian cultural heritage.

• Nostalgic Classics: Access to legendary shows like Ramayan, Mahabharat, Shaktimaan, and Hum Log.
• Live Channels: Over 65 live TV channels, including all Doordarshan and Akashvani stations, plus popular private news and entertainment channels.
• Beyond Video: The app features e-Books (e-Bazaars), free-to-play gaming, and integration with the ONDC (Open Network for Digital Commerce) for in-app shopping.
• Linguistic Diversity: Content available in over 12 languages and 10+ genres, ensuring inclusivity for rural and urban audiences alike.

The Pre-Installation Strategy

By asking manufacturers (including major smartphone brands and Smart TV makers like Samsung, LG, and Xiaomi) to pre-load the app, the Ministry of Information and Broadcasting (MIB) aims to:

1. Bridge the Digital Divide: Ensure that users in remote areas have instant access to news, education, and entertainment without needing to navigate app stores.
2. Combat “Bloatware” Criticism: Unlike controversial mandates for security apps (like the recently withdrawn Sanchar Saathi order), the WAVES pre-installation is framed as a utility-first move to provide free, high-quality family entertainment.
3. Boost Discovery: With over 200 million demat accounts and a surging digital population, the government wants to ensure its “Vocal for Local” content is the first thing a user sees upon setting up a new device.

Device Compatibility Roadmap

Monetization and the Creator Economy

The government isn’t just focusing on its own archives. As part of the “Creator’s Corner” initiative, WAVES is opening its doors to independent digital creators.

• Revenue Sharing: A highly competitive 90/10 revenue share model has been introduced to attract top-tier YouTubers and influencers to the platform.
• Pay-Per-View (PPV): A new pilot framework allows creators to earn based on “validated views,” providing a transparent and performance-linked income stream.

Privacy and User Choice

Learning from the feedback on previous mandates, officials have clarified that while the app will be pre-installed to enhance accessibility, it is intended to be user-friendly. Unlike certain mandatory security tools, WAVES is positioned as an entertainment and utility app, allowing users the standard flexibility typical of pre-loaded media applications on most modern OS platforms.

In a revolutionary move to embrace the burgeoning creator economy, India’s national broadcaster Prasar Bharati launched “Creator’s Corner” on DD News on January 9, 2026. This initiative marks the first time a major state-run media network has opened its prime-time slots to independent digital influencers, offering a staggering 90% revenue-sharing model.

Unveiled by Union Minister Ashwini Vaishnaw, the program is designed to transform Doordarshan into a modern, technology-driven platform that empowers creators from small towns and rural areas.

The “Creator’s Corner” Framework: How It Works

This isn’t just a guest appearance; it’s a dedicated partnership that treats digital influencers as professional content producers.

1. Prime-Time Exposure

The program occupies a 30-minute slot during high-visibility hours:

• Telecast Days: Monday to Friday
• Primary Slot: 7:00 PM on DD News
• Repeat Telecast: 9:30 AM (Tuesday to Saturday)

2. High-Yield Revenue Model

Unlike private platforms that often take significant cuts, Prasar Bharati has introduced a creator-first financial structure:

• Creator Share: 90% of the revenue generated from the programming.
• Prasar Bharati Share: 10% (retained for administrative and broadcasting costs).
• Attribution: Creators and their respective digital channels receive full on-screen credit.

3. Content Format

The show features four to six segments per episode, consisting of high-quality reels and short-form videos ranging from 2 to 10 minutes in length.

Targeted Themes and Subjects

Prasar Bharati is looking for a diverse range of high-quality content that resonates with the “new-age” Indian audience. Key themes include:

• News & Current Affairs: Ground-level reporting and analysis.
• Culture & Travel: Highlighting India’s heritage and hidden gems.
• Science & Education: STEM content and inspiring educational stories.
• Lifestyle: Cuisine, Health & Wellness, Art, and Literature.
• Environment: Focus on sustainable development and eco-innovation.

Strategic Significance: The “Orange Economy”

The launch of Creator’s Corner is the first step in a broader 2026 Reform Roadmap for the Ministry of Information and Broadcasting.

“2026 will be the year of major reforms for Prasar Bharati… orienting institutions like Doordarshan and AIR towards the new generation of creators and technology.” — Ashwini Vaishnaw, Union Minister

By integrating with the WAVES (World Audio Visual & Entertainment Summit) platform, the government aims to add nearly ₹5,000 crore to the creator ecosystem and generate employment for over one crore youth.

How to Apply: A Guide for Creators

Independent creators and influencers can submit their work for vetting by an independent committee.

• Email for Submissions: [email protected]
• Official Contact: +91-8130555806
• Portal: Submissions can also be routed through the WAVES portal.

The Road Ahead: Expansion to AIR and Regionals

While the initiative has debuted on DD News, the government has confirmed plans to:

1. Expand to All DD Channels: Including regional language channels to capture local talent.
2. Podcaster Support: A similar segment for Podcasters is currently being developed for All India Radio (AIR).
3. Restructuring: The Ministry of Information and Broadcasting is undergoing a “complete restructuring” to create a new operating system for public broadcasting.

After years of record-breaking growth following the pandemic, India’s retail investing boom faced its first major stress test in 2025. According to combined data from NSDL and CDSL, new demat account additions fell by approximately 33% over the calendar year, marking a significant deceleration in the “financialization of savings” trend.

While 46 million accounts were added in 2024, only 30.6 million new accounts were opened in 2025—the first annual decline in fresh registrations since 2021.

Why the Surge Slowed Down: 4 Key Factors

The drop in new entrants isn’t due to a lack of interest but rather a series of “macro shocks” that dampened the risk appetite of first-time investors.

1. Market Volatility & The “Tariff Shock”

The biggest headwind in 2025 was the heightened volatility triggered by global trade tensions. The U.S. imposition of a 50% tariff on several Indian exports led to a massive outflow of Foreign Institutional Investor (FII) capital, causing the Rupee to hit record lows. New investors, often sensitive to red charts, stayed on the sidelines as the Nifty Smallcap 100 fell by over 5%.

2. Underwhelming IPO Performance

While the IPO pipeline remained active, the “listing gain” magic faded. Several high-profile mainboard and SME listings delivered muted or negative returns shortly after debut. Since a primary driver for new accounts is the desire to apply for “hot” IPOs, the lack of immediate profitability discouraged many from opening accounts for family members.

3. Weak Corporate Earnings

Throughout 2025, several sectors—most notably FMCG and Auto—reported a slowdown in urban consumption. Disappointing quarterly results led to a “time correction” in the market, where prices remained stagnant for months, frustrating new retail participants accustomed to the 2023-2024 bull run.

4. Shifting Interest to Gold and Silver

As equity markets turned directionless, Indian households pivoted back to traditional safe havens. Gold and silver saw a massive surge in demand in late 2025, with many retail investors choosing to park their savings in physical assets or Gold ETFs rather than volatile mid-cap stocks.

Impact on the Brokerage Industry

The 33% drop in onboarding has directly impacted the “Big Three” of Indian broking, leading to a shift in market share.

Nithin Kamath, CEO of Zerodha, noted in late 2025 that the industry should brace for a 10–20% decline in revenue as the era of “easy growth” concludes and the market enters a more mature, slower phase.

The Silver Lining: A Maturing Base

Despite the drop in new accounts, the total number of demat accounts in India reached 216 million by the end of 2025.

• SIP Resilience: Systematic Investment Plan (SIP) inflows remained at record highs, crossing ₹29,500 crore monthly, suggesting that while trading is down, long-term investing remains intact.
• Geographic Reach: New additions are increasingly coming from Tier-2 and Tier-3 cities, indicating that the infrastructure for a more self-reliant, domestically-driven financial ecosystem is now permanent.

The Indian primary market scaled unprecedented heights in 2025, turning into a massive payday for investment banks. According to the latest data from LSEG and Bloomberg, investment bankers in India earned an all-time high of $417 million (approx. ₹3,500 crore) in fees from Initial Public Offerings (IPOs) alone.

This surge was powered by a record-breaking ₹1.95 trillion ($23.4 billion) raised through public listings, surpassing the previous 2024 record of ₹1.73 trillion.

Why Fees Are Rising: The End of “Low-Fee” India?

For years, India was known as a high-volume but low-fee market for bankers. However, 2025 saw a fundamental shift in pricing power.

• Higher Underwriting Rates: Average underwriting fees climbed to 1.86% of deal value in 2025, up from 1.67% in 2024.
• Beating Regional Hubs: India’s average fee rate has now surpassed the 1.5% typically seen in Hong Kong, reflecting the high demand for Indian equity mandates.
• Complexity Premium: New-age tech startups and complex “first-of-their-kind” listings commanded higher fees, ranging between 3% and 4%, due to the intensive research and marketing required.

The Top Earners: Who Led the League Tables?

While international banks dominated the total Investment Banking (IB) fee pool (which includes M&A and Debt), domestic lenders held a strong grip on the specific IPO advisory segment.

Top IPO Advisers by Fee Income (2025)

*Estimated share of total ECM fees specific to IPOs.

Landmark Deals of 2025

Several “blockbuster” offerings significantly contributed to the $417 million pool. The largest fees were often distributed among syndicates of 10 to 18 banks for massive floats.

• Tata Capital IPO: The largest public float of 2025 (₹15,512 crore) paid out ₹159 crore to its lead managers.
• LG Electronics India: This ₹11,605-crore IPO generated the year’s single highest banker payout of ₹226 crore.
• Hexaware Technologies: A major tech listing that delivered ₹215 crore in fees.
• HDB Financial Services: An ₹12,500-crore issue that saw massive oversubscription and high fee margins for its advisors.

Sectoral Trends: NBFCs and Tech Lead the Charge

The diversity of the 2025 IPO market ensured a steady stream of revenue for banks throughout the year.

1. NBFC Dominance: Non-Banking Financial Companies accounted for 26.6% of total proceeds, raising ₹635 billion across 24 IPOs.
2. SME Explosion: The SME (Small and Medium Enterprise) segment saw over 200 listings, which, while smaller in size, often carry higher percentage-based fees (up to 5%).
3. Tech Resilience: Despite market volatility, fintech and SaaS companies like Groww, Pine Labs, and Capillary Tech successfully tapped the markets.

Outlook for 2026

With a pipeline of over 50 companies already holding SEBI approval for 2026, including the highly anticipated NSE IPO, investment bankers are expected to maintain their pricing power. Analysts predict that if the current momentum continues, IPO fee income could breach the $450 million mark in the coming fiscal year.

In a massive boost to India’s green energy and logistics infrastructure, the Adani Group has committed to investing ₹1.5 lakh crore ($18 billion) in the Kutch region of Gujarat over the next few years. The announcement was made by Karan Adani, Managing Director of Adani Ports & SEZ Ltd, during the Vibrant Gujarat Regional Conference on January 11, 2026.

This strategic capital infusion is designed to transform Kutch into a global epicenter for sustainable energy and multimodal logistics, aligning with the national vision of a “Viksit Bharat 2047.”

The Two Pillars of Growth: Khavda and Mundra

The investment roadmap focuses on two “mega-projects” that will redefine the industrial landscape of Western India.

1. The Khavda Renewable Energy Park

A major portion of the funds is dedicated to the Khavda project, which is set to become the world’s largest renewable energy park.

• Capacity Goal: Commissioning the full 37 GW of solar and wind capacity by 2030.
• Scale: Spanning over 520 sq. km, the park will generate enough clean energy to power approximately 16 million homes.
• Impact: Adani described this as India’s “statement to the world” that economic growth and climate responsibility can coexist.

2. Doubling Mundra Port Capacity

Mundra, described by the group as its “Karma Bhoomi,” is already India’s largest commercial port. The new investment plan includes:

• Capacity Expansion: Doubling the port’s handling capacity within the next decade.
• Industrial Ecosystem: Strengthening the integrated complex which already houses India’s largest copper smelter, a coal-to-PVC plant, and a massive solar manufacturing hub.

Economic and Regional Transformation

The investment is expected to create tens of thousands of direct and indirect jobs in the Kutch-Saurashtra belt. By leveraging Gujarat’s 1,600 km coastline and stable policy environment, the Adani Group aims to:

1. Enhance Logistics Efficiency: Reducing the cost of trade for Indian exporters.
2. Bolster Energy Security: Providing round-the-clock green power to the national grid.
3. Attract Downstream Industries: Building a cluster of manufacturing units around the Mundra and Khavda hubs.

“Gujarat is not just a destination for investment for the Adani Group; it is our foundation. Our growth is inseparable from the growth of the nation.” — Karan Adani

At a Glance: Adani’s Kutch Roadmap

Alignment with National Priorities

The timing of the announcement, made in the presence of Prime Minister Narendra Modi, highlights the group’s alignment with India’s goal of becoming a $5 trillion economy. As global supply chains fragment, the development of integrated “green” industrial zones in Kutch is seen as a move to position India as a resilient and sustainable manufacturing alternative to China.

While DeepSeek dominated global headlines in 2025 with its hyper-efficient R1 and V3 AI models, its parent organization was quietly staging a massive financial comeback. High-Flyer Quantitative Investment, the $8 billion Chinese hedge fund founded by DeepSeek creator Liang Wenfeng, reported a staggering 56.6% average return across its funds for the 2025 calendar year.

This surge positions High-Flyer as one of the top-performing quant funds in Asia, proving that the same architectural innovations powering DeepSeek’s AI are providing a “generational alpha” in the financial markets.

The Synergy: How AI Tech Fueled Financial Returns

The secret to the fund’s 57% surge lies in the “virtuous cycle” between Liang Wenfeng’s two ventures. Unlike Western AI labs that rely on venture capital, DeepSeek is 100% self-funded by the profits of High-Flyer.

1. From LLMs to Stock Predictions

High-Flyer utilized the Mixture-of-Experts (MoE) architecture—the same tech that made DeepSeek-V3 so cost-efficient—to overhaul its trading algorithms. By activating only specialized “expert” sub-networks for specific market conditions, the fund:

• Reduced Latency: Executed trades faster than traditional transformer-based models.
• Improved Accuracy: Better predicted “black swan” volatility during the mid-2025 market fluctuations.

2. The “Fire-Flyer” Advantage

DeepSeek’s proprietary supercomputing clusters (Fire-Flyer 2) were dual-purposed. While they trained the R1 reasoning model at night, they processed massive datasets for High-Flyer’s quantitative strategies during peak trading hours, maximizing the ROI on their limited NVIDIA H800 hardware.

2025 Performance Breakdown

High-Flyer’s performance is a sharp reversal from 2024, when the firm trailed the CSI 300 index following a regulatory crackdown on quant trading in China.

Liang Wenfeng: The New AI-Quant Billionaire

The 57% surge in fund performance, combined with the “blue-sky” valuation of DeepSeek, has propelled Liang Wenfeng into the ranks of the world’s most influential tech figures.

• Net Worth: In early 2026, Forbes estimated Liang’s fortune at approximately $4.5 billion, largely due to his 84% stake in DeepSeek and his majority ownership of High-Flyer.
• Strategic Autonomy: By remaining self-funded through High-Flyer, Liang has avoided the “VC trap,” allowing DeepSeek to release its weights under the MIT License without pressure for immediate monetization.

The Future: DeepSeek V4 and High-Flyer’s Next Move

As we move into 2026, High-Flyer is reportedly reinvesting nearly ₹2,500 crore ($300 million) of its 2025 profits into a new GPU cluster. This infrastructure will support the upcoming DeepSeek-V4, which is rumored to feature “Manifold-Constrained Hyper-Connections” to further reduce training costs.

For the global finance industry, High-Flyer’s success serves as a case study: the future of hedge funds may not lie in better financial theory, but in more efficient AI architecture.

In a defining moment for the Indian automotive industry, Maruti Suzuki India Limited (MSIL) announced on January 2, 2026, that it achieved a record-breaking annual production of 22.55 lakh (2.255 million) units in calendar year 2025. This represents a robust 9.3% growth over the previous year and marks the second consecutive year the carmaker has crossed the 20-lakh unit milestone.

The achievement underscores Maruti Suzuki’s dominance in the domestic market and its growing influence as a global export hub under the “Make in India” initiative.

Production Breakdown: The Engines of Growth

The record output includes vehicles manufactured for domestic sales, exports to over 100 countries, and supplies to other Original Equipment Manufacturers (OEMs) like Toyota.

Top 5 Models by Production Volume

The 2025 production surge was primarily driven by five key models that catered to both the compact and utility vehicle segments:

1. Fronx: A standout performer in the compact crossover segment.
2. Baleno: Continuing its legacy as a premium hatchback leader.
3. Swift: The perennial favorite for urban commuters.
4. Dzire: Crowned as the highest-selling car of 2025 with over 2.14 lakh units sold.
5. Ertiga: Dominating the MPV (Multi-Purpose Vehicle) market.

“A high degree of localisation has enabled us to achieve such scale while maintaining world-class quality, highlighting the strength and global competitiveness of India’s automotive manufacturing ecosystem.” — Hisashi Takeuchi, MD & CEO, Maruti Suzuki India

Expansion Strategy: The ₹4,960 Crore Gujarat Push

To sustain this momentum and reach its long-term goal of 4 million units per annum, Maruti Suzuki’s board approved a fresh investment of ₹4,960 crore on January 12, 2026. This capital is earmarked for:

• Second Plant in Gujarat: Acquisition of land at the Khoraj Industrial Estate near Ahmedabad.
• Capacity Boost: The new facility is expected to add an additional 1 million (10 lakh) units of annual capacity.
• Full Utilization: The expansion comes as existing plants in Gurugram, Manesar, Kharkhoda, and Hansalpur are currently operating at near-full capacity.

Global Reach: India as an Export Powerhouse

Maruti Suzuki also cemented its position as India’s #1 passenger vehicle exporter for the fifth consecutive year.

• Total Exports: 3.95 lakh units in 2025 (a 21% YoY increase).
• EV Milestone: The company commenced exports of the e Vitara, its first fully electric SUV, shipping over 13,000 units to 29 countries, including European markets.

Comparative Annual Production (Calendar Year)

What’s Next for 2026?

As Maruti Suzuki enters 2026, the focus shifts toward Sustainable Mobility. The domestic launch of the e Vitara BEV is expected in early 2026, alongside an updated version of the popular Brezza. With a combined domestic and export sales target of over 2.35 million units, the company is well on its way to redefining India’s role in the global automotive supply chain.

In a stunning confrontation between the White House and the central bank, Federal Reserve Chair Jerome Powell announced on Sunday, January 11, 2026, that the Department of Justice (DOJ) has threatened him with a criminal indictment.

Powell characterized the move as a “pretext” designed to intimidate the Federal Reserve into slashing interest rates, marking the most severe crisis of central bank independence in modern U.S. history.

The Charges: “Pretext” vs. Reality

The DOJ served the Federal Reserve with grand jury subpoenas on Friday, January 9, 2026. The investigation reportedly focuses on Powell’s June 2025 Congressional testimony regarding a $2.5 billion renovation project of the Fed’s historic headquarters in Washington, D.C.

The Administration’s Allegation:

Prosecutors are investigating whether Powell made misleading statements to Congress regarding cost overruns and the scope of the renovation project.

Powell’s Defense:

In a rare and combative video statement, Powell directly linked the legal threats to his refusal to bow to the President’s economic demands.

“The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the president.” — Jerome Powell

The Conflict: Interest Rates and Tariffs

The tension has been simmering since President Trump took office in January 2025. The administration has repeatedly demanded a 3% cut to interest rates to “fuel the economy,” while the Fed has maintained a cautious “wait-and-see” approach due to inflation risks linked to the administration’s global tariff rollout.

Key Points of Friction

• Rate Cuts: Trump has publicly called Powell “stubborn” and “not smart” for holding rates steady at 4.3% while inflation sits at roughly 2.6%.
• The “Firing” Question: While the Supreme Court suggested in 2025 that the President cannot fire a Fed Chair over policy disputes, the DOJ’s “for-cause” investigation into building costs is seen by analysts as a legal workaround to remove him.
• Credit Card Caps: Just days ago, Trump announced a unilateral 10% cap on credit card interest rates to take effect on January 20, 2026, putting further pressure on the financial system.

Market Reaction: “Sell-America” Trade

Economists warn that this breach of institutional norms could have dire consequences for global markets.

• Market Volatility: Analysts at Evercore ISI expect a “sell-America” trade on Monday, with potential drops in the dollar, bonds, and stocks.
• Treasury Confidence: The threat to the Fed’s autonomy could undermine the confidence of international investors in U.S. Treasury securities.

What Happens Next?

Jerome Powell’s term as Chair is set to expire in May 2026, though he has the legal right to remain on the Fed’s Board of Governors until 2028. The upcoming weeks are expected to be a legal and economic showdown:

1. Grand Jury Proceedings: The DOJ may move forward with a formal indictment.
2. Supreme Court Intervention: A pending case regarding the President’s power to dismiss Fed officials (Lisa Cook) is scheduled for oral arguments on January 21, 2026.
3. Senate Reaction: Lawmakers on both sides of the aisle are weighing in on whether this constitutes an overreach of executive power.