( Image: DhruvStar Industry Insights | Original Artwork) Overview The RBI’s Payment Systems Report for the half-year ending June 2025 highlights a steadily evolving payments landscape, driven by sustained growth in digital transactions across nearly all segments. India’s move toward a cashless economy has deepened, with digital payments making up 99.7% of total transaction volume and 97.5% of total value in 2024. The momentum sustained through early 2025, underscoring India’s lead among the world’s fastest-growing digital payments markets. Data - between December 2024 and June 2025 - highlights a strong growth in debit and credit card usage, PoS terminal transactions, and QR code-based payments. In contrast, the use of paper-based instruments such as cheques has continued to decline, highlighting the accelerating move toward a less-cash economy. Digital Channels Now Drive Payment Systems According to the RBI, payment systems such as Unified Payments Interface (UPI), National Electroni...

( Image: DhruvStar Industry Insights | Original Artwork) At the National Conclave on Adi Karmayogi Abhiyan, the Ministry of Tribal Affairs, in partnership with the Ministry of Culture and the Department for Promotion of Industry and Internal Trade (DPIIT), announced the Tribal Business Conclave 2025, scheduled for 12th November 2025 at Yashobhoomi, New Delhi. The event aligns with India’s vision of Janjatiya Gaurav and Vocal for Local, reflecting the broader national ethos of Sabka Saath, Sabka Vikas, Sabka Vishwas, aur Sabka Prayas . Tribal Business Conclave 2025: A Policy-Driven Initiative for Grassroots Industrial Growth The Tribal Business Conclave 2025, aligned with the vision of Aatmanirbhar Bharat and Viksit Bharat @2047, aims to make tribal entrepreneurship a pillar of inclusive growth. By combining traditional knowledge with modern business and technology, it seeks to expand market access, finance, and innovation for sustainable, community-led enterprises. Jointly organised b...

( Image: DhruvStar Industry Insights | Original Artwork) Coal India Limited (CIL) and IIT Madras signed a Memorandum of Understanding (MoU) to establish the “Centre for Sustainable Energy” at IIT Madras, aimed at driving advanced R&D and capacity-building in clean and sustainable energy technologies. Funded by CIL and aligned with its diversification strategy, the Centre will focus on developing technologies for repurposing coal mines, promoting low-carbon innovations, and exploring ways to utilise coal as a sustainable feedstock in India’s emerging clean energy landscape. The partnership reflects a commitment to advancing India’s energy transition through indigenous research, innovation, and technology development, supporting the nation’s goal of achieving net-zero emissions by 2070. India’s Energy Mix ( India’s Energy Mix: Coal’s Dominance Continues; Renewable Show Steady Rise) ( Source: India Climate & Energy Dashboard, NITI Aayog) India’s energy mix over the last five fina...

( Image: DhruvStar Industry Insights | Original Artwork) What are Rare Earth Minerals? Rare earth minerals are a group of 17 elements (15 lanthanides plus scandium and yttrium) that are critical for modern industries. They are essential in producing electric vehicles, wind turbines, smartphones, semiconductors, and advanced defence systems. These minerals are indispensable in making high-performance magnets used in aerospace and green technologies. India and Rare Earth Minerals India possesses nearly 8% of the world’s rare earth reserves but accounts for under 1% of total global output. To close this gap, the government is promoting domestic exploration, refining, and value-added manufacturing.  Proposed measures include incentive packages of INR 3,500-5,000 crore and the creation of a National Critical Mineral Stockpile to cut import reliance and strengthen supply security. However, India still lacks industrial-scale refining and magnet manufacturing capacity. Expanding domestic ...

( Image: DhruvStar Industry Insights | Original Artwork) What Really Happened? Pride Foramer SA, a French offshore drilling firm, had a 10-year contract with India’s ONGC during the 1980s and early 1990s. Even after the contract ended, the company maintained administrative operations, incurred expenses, and continued bidding for new projects despite not having active work in India. For the assessment years 1996-97, 1997-98, and 1999-2000, Pride Foramer sought deductions and carry-forward of unabsorbed depreciation. However, the Income Tax Department rejected the claims, contending that the company had ceased its business operations in India. The case centred on Sections 37(1) and 32(2) of the Income Tax Act, which permit companies to claim deductions for expenses like salaries, rent, and administrative costs, and to carry forward unabsorbed depreciation to subsequent financial years. The Income Tax Appellate Tribunal ruled in Pride’s favour, but the Uttarakhand High Court overturned t...

( Image: DhruvStar Industry Insights | Original Artwork) India’s Breakthrough in Indigenous Antibiotic Research India has developed its first indigenous antibiotic, Nafithromycin, through a collaboration between the Department of Biotechnology (DBT) and Wockhardt. The drug is effective against drug-resistant respiratory infections and is especially beneficial for cancer patients and individuals with poorly controlled diabetes.  Nafithromycin is the first antibiotic molecule to be completely conceptualised, developed, and clinically tested in India, marking a major step toward self-reliance in the Indian pharmaceutical industry. Strengthening India’s Biopharma and R&D Ecosystem India has made a landmark advancement in gene therapy, completing its first indigenous clinical trial for the treatment of haemophilia. Haemophilia is a genetic disorder that prevents blood from clotting properly, leading to excessive bleeding even from minor injuries. Gene therapy works by correcting th...