The idea that British rule drained India’s wealth was first articulated by Dadabhai Naoroji in the 19th century. Once dismissed as nationalist rhetoric, it is now backed by extensive economic data.

In 1700, India accounted for nearly a quarter of global GDP. By the time the British left in 1947, that share had collapsed to under 3 per cent. This decline was not organic. It was engineered.

Economist Utsa Patnaik’s analysis of colonial trade data estimates that Britain extracted wealth equivalent to $45 trillion in today’s terms. Taxes collected in India were used to buy Indian goods, which were then exported to Britain, a system that allowed the empire to enrich itself without spending from its own treasury.

Manufacturing was systematically dismantled. India’s globally competitive textile industry was crushed as raw cotton was exported cheaply while British cloth flooded Indian markets. Agriculture was reshaped to serve imperial demand, forcing farmers into export crops like indigo and opium, often at the cost of food security.

The economic consequences were deadly. Between 1876 and 1902, more than 20 million Indians died in famines even as grain exports continued. Historian Mike Davis described these as “market-induced catastrophes,” not natural disasters.

By Independence, India inherited an economy in deficit: low literacy, short life expectancy, stagnant agriculture and infrastructure designed for extraction rather than development. The new nation did not start from zero, it started from behind.

These realities have re-entered public debate as conversations on reparations, trade imbalance and global inequality gain momentum. During the 2024 elections, several political leaders referenced colonial extraction to argue that today’s unequal economic systems did not emerge in isolation.

The renewed interest is not about blame. It is about context. Understanding why India had to spend decades simply catching up.

More Than 20% of Vi’s Subscriber Base Exists Only on Paper

IIFL Capital’s report highlights the core structural weakness: Vi reported 197.2 million subscribers for the June–September quarter, but given its other parameters, Vi has only 154.7 million active users.

Interestingly, if you take away the 2G numbers, then the 154 million essentially 4G subscriber base goes further down sharply, exposing an even smaller, fragile high-value user base.

What Happens When You Remove the Inactive Users?

On paper, Vi’s ARPU in Q2 FY26 was Rs 167, far below Airtel’s Rs 256 and Jio’s Rs 211.4. But when IIFL recalculated ARPU only for active users and removed low-revenue M2M SIMs:

● Vi’s ARPU jumps to Rs 209
● Jio’s recalculated ARPU stands at Rs 220

Voice Usage: The Single Metric That Exposes Vi’s Weakest Link

Voice remains the biggest red flag. TRAI’s October usage data shows how disengaged Vi’s customers truly are:

● Vi: 746 minutes/month (active subs)
● Airtel: 1,071 minutes
● Jio: 1,105 minutes

TRAI Numbers: Vi Lost 2.08 Million Subscribers in October Alone

According to TRAI’s October wireless report, the market moved in two opposite directions:

● Reliance Jio added 2.7 million 4G/5G users
● Bharti Airtel added 2 million
● Vodafone Idea lost 2,083,618 subscribers (the worst monthly performance among private telcos)

On an active subscriber (VLR) basis the metric that actually reflects customer presence on the network the divergence is even more telling:

● Jio added 3.9 million active subs
● Airtel added 2.8 million
● Vi lost 0.4 million, reversing a negligible gain the month before

Inference: Vi’s true paying user base is far smaller than what it reports. The company earns respectably from its paying users, but not enough of them remain
A telco with shrinking active subs cannot monetise upgrades, upsell 5G, or compete on network investments.

In India, still the world’s largest voice market, weak voice engagement is a critical vulnerability.

Fixed-Line Trends Show the Same Pattern: Others Grow, Vi Watches

In broadband and FWA:

● Jio continued its steady FTTH + FWA run
● Airtel maintained a consistent (though smaller) growth trajectory
● Vi remained largely absent from the narrative

இந்த நிலையில், வார இறுதிநாளான இன்று தங்கம் விலை சற்று உயர்ந்துள்ளது. கிராமுக்கு 40 ரூபாய் உயர்ந்து ஒரு கிராம் ரூ.12,040-க்கும் சவரனுக்கு 320 ரூபாய் உயர்ந்து ஒரு சவரன் ரூ.96,320 ஆயிரத்துக்கும் விற்பனையாகிறது.

வெள்ளி விலையும் உயர்ந்துள்ளது. கிராமுக்கு மூன்று ரூபாய் உயர்ந்து ஒரு கிராம் வெள்ளி 199 ரூபாய்க்கும் கிலோவுக்கு மூவாயிரம் ரூபாய் உயர்ந்து பார் வெள்ளி 1 லட்சத்து 99 ஆயிரம் ரூபாய்க்கும் விற்பனை செய்யப்படுகிறது.

The collection was launched by Brand Ambassador and acclaimed Indian actor Keerthy Suresh, who graced the occasion with elegance and charm.

“The Shubha Mangalyam Wedding Collection draws inspiration from the rich temple artistry of South India. Each creation is crafted with care and designed to be cherished for generations,” said Keerthy Suresh during the launch event.

Mr. Paul Alukkas, Managing Director Jos Alukkas said: “Every wedding is a sacred celebration – an union of tradition, emotion, and legacy. Shubha Mangalyam captures this essence through designs that blend heritage with contemporary finesse. Our in-house designers, along with master craftsmen from across India, have meticulously created each piece of the temple jewellery to honour our cultural artistry. With Shubha Mangalyam, we invite you to celebrate family, love, and tradition.”

The Shubha Mangalyam Wedding Jewellery Collection features exquisite designs catering to every bridal preference — from grand Vaddanam pieces to intricately detailed harams (long-chains), chokers, necklaces, odiyanams (hip chains), and bangles that reflect the rich legacy of South Indian gold jewellery.

Every creation undergoes rigorous quality checks and carries the BIS HUID certification, reaffirming Jos Alukkas’ commitment to authenticity and excellence.

Shubha Mangalyam by Jos Alukkas is a tribute to the beauty of Indian weddings — a perfect destination for all things bridal, elegant, and eternal. Each temple jewellery piece stands out for its artistry, sophistication, and the story it tells through design. The exclusive collection is available across all outlets of Jos Alukkas.

இதற்கிடையே, ரிசர்வ் வங்கி கவர்னர் சஞ்சய் மல்ஹோத்ரா ஒரு டெலிவிஷன் சேனலுக்கு பேட்டி அளித்தார். அவர் கூறியதாவது:-

கடந்த மாதம் நடந்த ரிசர்வ் வங்கியின் நிதிக்கொள்கை குழு கூட்டத்தில், ரெப்போ வட்டி குறைக்கப்பட வாய்ப்பு இருப்பதாக தெரிவிக்கப்பட்டது. அப்போதிருந்து நமக்கு கிடைத்த மேக்ரோ பொருளாதார தரவுகள், ரெப்போ வட்டி விகிதம் குறைக்கப்பட வாய்ப்பு இருப்பதாகவே தெரிவிக்கின்றன. எனவே, நிச்சயமாக வட்டி குறைக்கப்பட வாய்ப்புள்ளது.

ஆனால், வரும் டிசம்பர் மாதத்திலேயே குறைக்கப்படுமா, அல்லது பின்னர் நடக்கும் நிதிக்கொள்கை குழு கூட்டத்தில் குறைக்கப்படுமா என்பது பற்றி நிதிக்கொள்கை குழு தான் முடிவு செய்யும். எங்கள் முதல் கடமை, விலைவாசியை நிலைப்படுத்துவதுதான். அதே சமயத்தில், வளர்ச்சியிலும் கவனம் செலுத்துகிறோம்.

இவ்வாறு அவர் கூறினார்.

மேலும், ரிசர்வ் வங்கி நேற்று பொருளாதார நிலவர அறிக்கை வெளியிட்டது. அதில் கூறப்பட்டு இருப்பதாவது:-

அக்டோபர் மாதத்தில், இந்திய பொருளாதாரம் வேகம் எடுத்துள்ளது. உற்பத்தி, சேவை துறைகள் விரிவடைந்துள்ளன. ஜி.எஸ்.டி. சீர்திருத்தங்கள் நல்ல தாக்கத்தை ஏற்படுத்தி உள்ளன. பணவீக்கம், வரலாற்றில் இல்லாத அளவுக்கு சரிந்துள்ளது. ரிசர்வ் வங்கியின் இலக்குக்கு உள்ளேயே இருக்கிறது.

இந்த ஆண்டில் இதுவரை எடுக்கப்பட்ட நடவடிக்கைகள் தனியார் முதலீட்டை அதிகரிக்கவும், உற்பத்தி, வளர்ச்சியை அதிகரிக்கவும், நீண்ட கால பொருளாதார மீட்சிக்கும் பாதை அமைக்க வேண்டும்.

இவ்வாறு அதில் கூறப்பட்டுள்ளது.

The in-principle approval marks an important regulatory milestone following the filing of the Company’s Draft Red Herring Prospectus (DRHP). This approval does not represent a confirmation of the issue, nor does it indicate any approval of the securities offered. Final approval will be subject to the Company filing the Red Herring Prospectus (RHP), Prospectus and fulfilling all conditions prescribed by NSE and SEBI.

Value 360 Communications is an integrated communications company working with brands across public relations, digital communications, creative strategy, and reputation management. The Company’s proposed listing aims to support its long-term vision of strengthening capabilities across its group entities and expanding its service ecosystem.

Kunal Kishore, Chairman and Managing Director of Value 360 Communications Limited, said, “We acknowledge the in-principle approval granted by NSE. This is a procedural step in the overall regulatory process, and we remain focused on fulfilling all compliance requirements in line with the applicable guidelines.”

The Company will continue to adhere to all disclosure norms as required under SEBI and Exchange regulations. Any further updates will be communicated through the appropriate statutory channels.

இந்நிலையில் சென்னையில் இன்று காலை 22 கேரட் ஆபரணத் தங்கத்தின் விலை உயர்ந்துள்ளது. தங்கம் விலை சவரனுக்கு ரூ.800 உயர்ந்து ரூ.92 ஆயிரத்துக்கு விற்பனை செய்யப்பட்டது. தங்கம் விலை கிராமுக்கு ரூ.100 உயர்ந்து ரூ.11,500-க்கு விற்பனை செய்யப்பட்டது.

இந்நிலையில் ஆபரணத் தங்கத்தின் விலை இன்று 2-வது முறையாக மீண்டும் உயர்ந்தது. இன்று காலை சவரனுக்கு ரூ.800 கூடிய நிலையில், தற்போது மேலும் ரூ.800 கூடியது. தங்கம் விலை சவரனுக்கு ரூ.800 உயர்ந்து ரூ.92,800க்கு விற்பனை செய்யப்படுகிறது. தங்கம் விலை கிராமுக்கு ரூ.100 உயர்ந்து ரூ.11,600-க்கு விற்பனை செய்யப்பட்டது.

இன்று ஒரே நாளில் மட்டும் ஆபரணத் தங்கத்தின் விலை சவரனுக்கு ரூ.1600 உயர்ந்து வாடிக்கையாளர்களை அதிர்ச்சிக்குள்ளாகி உள்ளது.

வெள்ளி விலையும் இன்று 2 முறை உயர்ந்துள்ளது. காலையில் வெள்ளி விலை கிராமுக்கு ரூ.3 உயர்ந்த நிலையில் மாலையில் மேலும் 3 ரூபாய் உயர்ந்துள்ளது. அதன்படி வெள்ளி விலை கிராமுக்கு ரூ.176-க்கும், கிலோவுக்கு மூவாயிரம் உயர்ந்து பார் வெள்ளி ஒரு லட்சத்து 76 ஆயிரம் ரூபாய்க்கும் விற்பனை செய்யப்படுகிறது.

The KA6 and KA8 transplanters are powered by Kubota’s fuel-efficient engines that deliver 21 & 24 horsepower, ensuring dependable performance even in tough field conditions. Both models come with a smart turning system for smoother handling and an automatic lift function that makes cornering easier. The Multifunction control lever allows effortless operation, while the horizontal control mechanism helps maintain uniform planting depth. The redesigned planting claws significantly reduces missed planting, and ensure seedlings are placed evenly, and improved New Seedling picking guide allows on high accuracy and planting will improve the crop growth and yield consistency.

Operator comfort has also been thoughtfully improved. The machines feature a wider platform for easier movement, an ergonomic layout for reduced fatigue, and LED lights that make farming easier even in the after-sunset hours. The lighter planting section and longer wheelbase enhance balance and stability, allowing to cross the big ridges easily and making the transplanters suitable for extended work in deep wet field conditions.

Speaking about the launch, Mr. Bharat Madan, Chief Financial Officer & Wholetime Director, said, “India’s farmers have long carried the responsibility of feeding the nation, often through arduous work in challenging conditions. At Escorts Kubota Limited, we view mechanization as a national mission to empower farmers, enhance their dignity, and make agriculture more efficient and sustainable. The new KA Series rice transplanters mark a significant milestone in this journey, transforming a labour-intensive process with precision, comfort, and innovation. By blending global technology with local insights, we continue to lead the mechanization movement in India—advancing productivity, reliability, and prosperity for farmers across the country.”

Mr. Rajan Chugh, Chief Officer, Agri Solutions Business Division, added, “The KA6 and KA8 transplanters embody our continuous commitment to innovation and farmer-centric design. Every feature has been engineered to address real challenges in paddy fields, from labour shortage to long working hours, and to deliver consistent performance season after season. With their higher horsepower, smart turning capability and ergonomic layout, these machines make rice transplanting faster, uniform and more profitable for the modern farmer.”

Following the remarkable response to our previous NCD issues, we are truly honored by the trust and confidence placed in us by our valued investors. This continued support inspires us to deliver even more robust financial solutions tailored to the evolving needs of our customers.

The NCD issue will remain open until 28th November 2025 and is rated CRISIL BBB-/STABLE. Each NCD carries a face value of ₹1,000, and the issue offers ten options, with tenures of 13, 24, 36, 60 and 70 months, with monthly, annual and cumulative interest options

with interest rates ranging from 10.50% to 12.62%. The minimum application amount is ₹10,000, making it accessible to a broad spectrum of investors.

Proceeds from this issue will be strategically deployed to support ICL Fincorp’s growth initiatives and further enhance the quality of services offered to our customers and stakeholders across India. This step reaffirms our commitment to delivering reliable, innovative and customer-centric financial solutions.

With a legacy of 34 years, ICL Fincorp continues to serve as a trusted financial partner under the visionary leadership of CMD, Adv. K.G. Anilkumar. Our growing presence spans 10 states – Kerala, Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Maharashtra, Odisha, Gujarat, West Bengal and Goa, as we move steadily towards establishing a pan-India footprint. The acquisition of Salem Erode Investments, a BSE-listed NBFC with a 93-year history in Tamil Nadu, has further reinforced our position in the financial sector.

ICL Fincorp offers a comprehensive portfolio of services, including Gold Loans, Hire Purchase Loans and Business Loans. The ICL Group has also diversified into sectors such as travel, fashion, diagnostics and charitable initiatives.

Under the joint leadership of CMD Adv. K.G. Anil Kumar and Mrs. Umadevi Anilkumar, Whole- time Director & CEO, ICL Fincorp, continues to operate in compliance with the Reserve Bank of India’s standards, while earning the enduring trust of customers.

As we unveil this new NCD issue, we warmly invite you to be a part of our journey towards financial growth, security and long-term value. To Know More: Visit Nearest ICL Fincorp Branch. To Download Application: Visit www.iclfincorp.com.

For Enquiries: Call +91 85890 20137, +91 85890 20186

The inauguration ceremony witnessed the presence of distinguished Advisory Board Members representing leading industry players such as Grundfos, Ruhrpumpen India Pvt. Ltd., L&T Valves, Lehry Valves & Instrumentation, KSB Ltd., Kiron Hydraulic Needs Pvt. Ltd., Thermax Ltd., and Andritz Technologies Pvt. Ltd.

The exhibition brings together leading exhibitors from across India and abroad, showcasing cutting-edge advancements in industrial pumps, valves, systems, pipes, motors, compressors, seals, automation technologies, reactors, heat exchangers, pressure vessels, storage tanks, and other allied equipment.

IPVS + ICPE 2025 is conceptualized as a comprehensive B2B platform catering to the entire spectrum of fluid handling and chemical process solutions. The event is expected to attract over 5,000 targeted business visitors, including procurement heads, consultants, project managers, and key decision-makers from industries such as:

Oil & Gas | Petrochemicals | Chemicals | Water & Wastewater | Power & Energy | Food & Beverages | Pharmaceuticals | Cement | Manufacturing & Process Industries.

Speaking on the occasion, Mr. Rupen Vikamsey, Managing Director of Orbit Exhibitions Pvt. Ltd., said, “By combining Industrial Pumps, Valves & Systems (IPVS) with Industrial Chemical Process Equipment (ICPE), we are creating a unified platform that delivers enhanced value to both exhibitors and visitors. This integrated exhibition serves as a catalyst for industry collaboration, innovation adoption, and sustainable growth across India’s process industries.”

The event highlights include industry exhibitors showcasing the latest technologies and solutions, along with Knowledge Sessions and Technical Forums focused on automation, energy efficiency, process optimization, and sustainable technologies. Live product demonstrations and exclusive B2B networking opportunities will further enhance engagement between decision-makers and industry buyers.