📰 India Business Brief: Top Headlines for October 27, 2026

Business Standard

• Defence Ministry Clears ₹2.12 Trillion in Capital Proposals: The Ministry of Defence approved procurement proposals valued at ₹2.12 trillion to bolster the operational preparedness of the armed forces through domestic defense manufacturing.

• Government Clears E100 Flex-Fuel Vehicles via Motor Vehicle Rules Amendment: In a major boost to clean fuel adoption and the automotive sector, the Central government has amended the Central Motor Vehicle Rules to allow 100% ethanol (E100) flex-fuel vehicles.

• Account Aggregator Network Pricing Model Set for December 1 Rollout: The Reserve Bank-backed Account Aggregator (AA) framework is transitioning to a standardized pricing model slated to go live on December 1, aiming to streamline data access costs for financial institutions.

• Offshore Asset Disclosures Cross 1,100 Filings Ahead of Deadline: More than 1,100 declarations have been submitted under the foreign asset voluntary disclosure scheme as tax authorities step up enforcement against undisclosed overseas holdings.

• BFSI Summit Highlights Liquidity Pressures and Rupee Volatility: Banking chiefs and treasury heads warned of tightening domestic liquidity conditions, prolonged currency market strains, and repayment risks linked to maturing foreign deposits.

The Economic Times

• SEBI Clears PRIM Route for Portfolio Managers: The market regulator approved the PRIM mechanism, enabling Portfolio Management Services (PMS) providers to invest directly in mutual funds and specialized investment funds with a minimum ticket size of ₹25 lakh.

• Supreme Court to Examine EY US Tax Dispute on Salary Reimbursements: The Supreme Court agreed to hear whether reimbursements made to EY US for expatriate staff deputed to Indian operations qualify as taxable "fees for technical services" under the India-US Double Tax Avoidance Agreement.

• Resolution Plans Final Once Approved, Rules Supreme Court: In a critical Insolvency and Bankruptcy Code (IBC) clarification, the top court ruled that the Committee of Creditors (CoC) cannot withdraw its approval for a resolution plan once finalized.

• Kotak Alternate Asset Managers Closes ₹5,000-Crore Yield & Growth Fund: Marking strong domestic appetite for private credit and yield assets, Kotak Alternate Asset Managers announced the final close of its ₹5,000-crore fund raised entirely from Indian investors.

• Commodities and Equities Trade Cautiously Ahead of Fed Policy: Precious metals consolidated, with gold and silver hovering near multi-week support levels as investors positioned ahead of the impending US Federal Reserve interest rate decision.

Mint

• Jio Platforms Finalizes Landmark IPO Allotment: The allotment status for Jio Platforms' public issue has been completed, marking one of the largest equity market milestones as investors await listing day performance.

• Tax Department Ramps Up Scrutiny on Unreported UAE Assets: The Income Tax Department has initiated outreach to select high-net-worth taxpayers who have failed to report UAE-based properties, nudging them to declare holdings before the December 31 window closes.

• Centre Targets 50% Debt-to-GDP Ratio by 2030: Reaffirming its fiscal consolidation path, the Finance Ministry stated its commitment to lowering the fiscal deficit and capping overall general government debt at 50% of GDP by the end of the decade.

• Tata Consumer Products Q2 Net Profit Grows 16%: Tata Consumer Products reported a 16% year-on-year increase in consolidated net profit for the second quarter, matching Street estimates on the back of resilient domestic beverage and foods sales.

• India-US Bilateral Trade Pact Talks Reach Final Stages: Commerce and Industry Minister Piyush Goyal confirmed that negotiations on key bilateral trade understandings with the United States are concluding, with legal scrubbing and fine-tuning currently underway.