The Confederation of Indian Industry (CII) has urged the Centre to adopt a wide-ranging set of reforms in the Union Budget 2026-27 to reinforce India’s investment-led growth cycle and sustain its position as one of the world’s fastest-expanding major economies, PTI reported.In a detailed submission for the upcoming Budget, CII recommended raising central capital expenditure by 12% and increasing capex support to states by 10% in FY27, launching a Rs 150 lakh crore National Infrastructure Pipeline (NIP) 2.0 for 2026-32, and introducing incremental tax credits or compliance relaxations for companies achieving notable milestones in investment, output or tax contribution. The industry body also sought an NRI Investment Promotion Fund and the reinstatement of accelerated depreciation benefits to spur fresh capital expenditure, especially for MSMEs and manufacturing sectors, without triggering Minimum Alternate Tax (MAT) liability.CII said strengthening the National Investment and Infrastructure Fund (NIIF) through a proposed Sovereign Investment Strategy Council (SIFC) would help align investments with national economic priorities. The Union Budget for FY27 is scheduled to be presented on February 1.According to the industry chamber, replacing rigid annual fiscal-deficit rules with an economic-cycle-based public debt framework would bolster resilience and allow counter-cyclical flexibility during global shocks, while ensuring the credibility of medium-term debt sustainability.“The forthcoming Union Budget 2026-27 has to serve the dual role of stabiliser and growth enabler, and promoting investments will be one of the most critical components in this regard,” said CII Director General Chandrajit Banerjee.He added that CII’s proposals centre on fiscal prudence, capital efficiency and building investor confidence.CII stressed that public capex has been the backbone of India’s post-pandemic recovery, crowding in private investment. To improve execution, it suggested creating a Capital Expenditure Efficiency Framework (CEEF) for selecting high-impact projects and monitoring outcomes based on productivity and regional growth spillovers.The chamber said facilitating private and foreign investment will be essential in driving the next phase of expansion. It proposed tax incentives linked to new investment and production milestones in high-growth areas such as clean energy, electronics, semiconductors and logistics. It also suggested the creation of an NRI Investment Promotion Fund — a government-private entity with up to 49% government stake — to mobilise overseas and institutional capital into infrastructure and emerging sectors.Further, easing external commercial borrowing norms with higher limits, longer tenures and partial risk cover for infrastructure and manufacturing projects would improve access to foreign capital, CII said. A single-window clearance system with deemed approval within 60-90 days for large FDI proposals was also recommended to accelerate big-ticket investment decisions.To deepen engagement with global investors, CII proposed an India Global Economic Forum — a government-led platform bringing together sovereign wealth funds, pension funds, private equity firms and multinational corporations for structured dialogue with senior policymakers.“An investment-driven growth strategy, anchored in fiscal credibility and institutional reforms, will define India’s next development phase,” Banerjee said.

Microsoft co-founder Bill Gates has now pledged to channel billions of dollars in 2026 towards global health and other development initiatives. emphasizing the role of artificial intelligence in transforming lives. Speaking at Abu Dhabi Finance Week in an interview with CNBC’s Tania Bryer, Gates revealed how the resources of his foundation will be used and deployed in the coming year.Gates mentioned that 2026 will be a “big year for global health”. He further added that the Gates Foundation and its partners will be focusing on Polio erudition, AI-powered healthcare, language support and agricultural productivity.“We can take these wonderful pledges that we’ve just got and make sure we use them very effectively,” Gates said. “It’ll be a year where we’re piloting a lot of those AI tools… most people in Africa are farmers who have very small plots of land, and today very low productivity. We want to dramatically raise their productivity, and we see that’s doable.”

Bill Gates has an AI industry warning

Along with the pledge to donate billions for humanitarian work, Gates also issued a warning to the AI industry. Microsoft co-founder cautioned that many companies with high valuations may not survive in the ‘hyper competitive’ environment. “Does it mean all of these companies with high valuations will be winners? No, it’s going to be hyper competitive,” Gates said. “AI is only a bubble in the sense that not all of these valuations will end up going up. Some of them will go down.”Companies like Palantir and Tesla, with price-to-earnings ratios above 200 compared to the S&P 500 average of 25, exemplify the frothiness in the sector. Gates predicted that “a reasonable percentage of those companies won’t be worth that much.”Despite all these concerns, Gates has reaffirmed his belief in the transformative potential of AI. He also described it as “a deeply profound technology that will reshape the world,” with applications across health, education, and agriculture.“Is this profound and real and is going to provide all of these benefits? Absolutely, nobody should have any doubt about that,” Gates said.As 2026 approaches, Gates’ vision is clear: AI must be used not just to drive profits, but to deliver tangible benefits for humanity.

A person of interest has been taken into custody in connection with the deadly shooting at Brown University that killed two people and injured nine others, officials said on Sunday, after hours of panic and a massive manhunt that left large parts of Providence on edge.The shooting unfolded Saturday afternoon during a final exam review session for a large economics class inside the Barus and Holley engineering and physics building, a central academic facility on Brown’s campus. At 4.22 pm, the university issued an emergency alert warning students and staff of an active shooter and instructing them to lock doors, silence phones and remain hidden.

What followed was a chaotic and frightening evening. Hundreds of police officers flooded streets surrounding the Ivy League campus, knocking on doors, checking parked vehicles and sweeping neighbourhoods near Hope Street and Governor Street as the suspected gunman fled the scene. Restaurants and shops closed early, residents stayed indoors, and students sheltered in dormitories, basements and nearby businesses, including a popular tea shop.Providence Mayor Brett Smiley said at a late-night press conference that two people had been killed and nine others injured. Eight victims were shot and taken to hospital in critical condition, while a ninth person was hurt by bullet fragments. Authorities have not yet confirmed how many of the victims were Brown students.In the hours after the attack, university officials issued multiple alerts that were later corrected, at one point stating that a suspect had been detained before retracting the message. Another alert warning of additional gunfire off campus was also later described as inaccurate, adding to confusion and anxiety among students and residents.Police initially said they were searching for a male suspect dressed in black who exited the building on the Hope Street side. The type of weapon used remains unclear. Officials said more information would be released once the investigation progresses.President Donald Trump said on social media that he had been briefed on the incident and that the FBI was assisting local authorities. Rhode Island Governor Dan McKee said state law enforcement and emergency management teams were fully engaged in the response.As the campus remains closed and classes suspended, Brown University officials said counselling and support services would be made available, while investigators work to determine the motive behind one of the deadliest campus shootings in recent years.

NEW DELHI: Two gunmen opened fire at Sydney’s Bondi Beach which killed at least 11 people, prompting a major police and emergency response; one shooter is reported dead as well and the other critical, with multiple injured receiving treatment. Back home, the BJP appointed Nitin Nabin as its national working president, replacing JP Nadda. Meanwhile, Congress held a large rally in Delhi, accusing the government of vote manipulation and questioning the Election Commission’s neutrality, claiming to have collected over five crore signatures nationwide.

Pointers:

Here are the top five stories of the day:

11 killed in shooting at Sydney’s Bondi Beach targeting Jewish festival Two gunmen fired several gunshots at Sydney’s Bondi Beach killing at least 11 people, triggering a major response from police and emergency services. Authorities have advised the public to stay away from the area and seek shelter. One shooter is also reported dead and another is critical, while multiple injured individuals are being treated. Read full storyBJP appoints Bihar minister Nitin Nabin as national working presidentThe Bharatiya Janata Party’s (BJP) parliamentary board on Sunday appointed Nitin Nabin the national working president of the party. Nabin, a Kayasth by caste, will be replacing incumbent BJP chief JP Nadda. Nabin is a PWD minister in Bihar and MLA from Bankipur in Patna. Read full story ‘Our fight is against gaddars indulging in vote chori’: Congress slams BJP, EC in mega rally The Congress stepped up its attack over alleged vote manipulation and revisions to electoral rolls by holding a large rally in Delhi. Senior leaders, including Mallikarjun Kharge and Rahul Gandhi, addressed the gathering, accusing the government of undermining electoral mandates and raising questions over the Election Commission’s neutrality. The party said it has gathered more than five crore signatures across the country to flag these issues. Read full story BJP alleges ‘Congress wants to eliminate PM Modi’; flags ‘abusive language’ at ‘vote theft’ rallyThe Bharatiya Janata Party on Sunday accused the Congress of revealing the “real agenda” behind its SIR and ‘vote chori’ rally, alleging that it was aimed at “eliminating” Prime Minister Narendra Modi. BJP spokesperson Shehzad Poonawalla shared a video on X, claiming it showed Congress leaders raising slogans such as “Kabr khudegi Modi ki, aaj nahi to kal khudegi (Modi’s grave will be dug – if not today, then tomorrow)”. Read full story AQI ‘severe plus’ in Delhi-NCR: CAQM suspends all outdoor sports; warns serious health risk to childrenAir quality in Delhi-NCR has dropped to ‘severe plus’, leading the commission for air quality management (CAQM) to suspend all outdoor sports activities to safeguard children’s health. The move coincides with the enforcement of Stage IV, the strictest level of the graded response action plan (GRAP). Construction work is banned, truck movement is restricted, and schools have shifted to a hybrid learning model. Read full story

NEW DELHI: Congress on Saturday launched a sharp attack on Prime Minister Narendra Modi, claiming it was “not very surprising” that India has been left out of a new US-led high-tech supply chain initiative, “Pax Silica,” citing it a “sharp downturn in Trump–Modi ties.“These remarks came after some reports stated that the United States has excluded India from Pax Silica, a nine-nation initiative aimed at reducing Chinese dominance in critical high-tech and semiconductor supply chains.“According to some news reports, the US has excluded India from a nine-nation initiative it has launched to reduce Chinese control on high-tech supply chains. The agreement is called Pax Silica, clearly as a counter to Pax Sinica. The nations included (for the moment at least) are the US, Japan, the Republic of Korea, Singapore, the Netherlands, the United Kingdom, Israel, the United Arab Emirates, and Australia,” Congress general secretary (communications) Jairam Ramesh wrote on X.

“Given the sharp downturn in the Trump-Modi ties since May 10th, 2025, it is perhaps not very surprising that India has not been included. Undoubtedly, it would have been to our advantage if we had been part of this group,” he added.The Congress remarks come even as PM Modi and Trump recently spoke over the phone to discuss sustaining momentum in bilateral economic ties. Further, taking a swipe at the Prime Minister, Ramesh alleged that, “This news comes a day after the PM had enthusiastically posted on his telephone call with his once-upon-a-time good friend and a recipient of many hugs in Ahmedabad, Houston, and Washington DC.”The call coincided with the conclusion of two-day India–US talks on a proposed trade agreement, which is expected to give India relief from the Trump administration’s 50% tariffs on Indian goods. PM Modi had described the conversation as “warm and engaging” in a social media post, without referring to trade issues.

What is Pax Silica?

According to the US State Department, “Pax Silica is the Department of State’s flagship effort on AI and supply chain security, advancing new economic security consensus among allies and trusted partners.”While, “Pax” is a historical term that denotes peace, stability and prosperity and is applied to the foundations of modern artificial intelligence and computing.This is US-led initiative is aimed at building a secure, resilient and innovation-driven technology ecosystem, spanning the full value chain, from critical minerals and energy to advanced manufacturing, semiconductors, AI infrastructure and logistics.The nine nations included as of now are US, Japan, the Republic of Korea, Singapore, the Netherlands, the United Kingdom, Israel, the United Arab Emirates, and Australia.

What is the core objective?

“Pax Silica” aims to reduce coercive dependencies, safeguard materials and capabilities critical to artificial intelligence, and help aligned nations develop and deploy advanced technologies at scale.Partner to secure global technology and AI supply chains by addressing vulnerabilities and investment opportunities.Bring together countries that host advanced technology companies to unlock the economic potential of the AI era, and establish a durable economic order that delivers AI-driven prosperity across partner nations.Meanwhile, India is also set to host the India-AI Impact Summit 2026 on February 19–20, focusing on the principles of “People, Planet, and Progress”. Announced by PM Modi at the France AI Action Summit, it will be the first global AI summit hosted in the Global South.

IPL 2026 mini-auction, set for December 16 at Abu Dhabi’s Etihad Arena, promises intense bidding wars with 350 shortlisted players from 1,390 registrants, including 110 overseas stars. Franchises enter with purses up to ₹64.3 crore like Kolkata Knight Riders, eyeing reinforcements after retentions and trades, under new rules capping overseas salaries at ₹18 crore. Five overseas players stand out as prime targets for their proven skills, recent form and availability post-release.​

5 overseas cricketers likely to attract big bids in IPL 2026 auctions

1. Cameron Green

Cameron Green headlines the auction pool at a ₹2 crore base price, listed as a batter but cleared to bowl after back surgery sidelined him in IPL 2025. The Australian all-rounder offers middle-order stability and seam options, having scored 255 runs and taken six wickets for RCB in 2024 at an economy of 8.62; KKR and CSK, with big purses and overseas slots, view him as a Andre Russell or Sam Curran replacement.​

2. Liam Livingstone

Liam Livingstone enters after RCB’s release despite their IPL 2025 title, having managed 112 runs at a 133 strike rate in 10 games plus two wickets. The England powerhouse thrives in T20 Blast and The Hundred 2025 with averages near 40 and strike rates over 160, making him ideal for explosive cameos; Mumbai Indians, KKR, and LSG could spark a multi-team chase for his leg-spin utility.​

Also READ: Aakash Chopra predicts the 5 most expensive overseas players in the upcoming IPL 2026 Auction

3. Matheesha Pathirana

Matheesha Pathirana shocks as CSK’s release despite 47 IPL wickets in 32 matches at 21.62 average and 8.68 economy, a death-over yorker specialist clocking 153kph. The 22-year-old Sri Lankan’s LPL and international form, with 132 T20 scalps, positions him at ₹2 crore base; KKR, SRH, and LSG eye his bounce despite 2025 injury tweaks.​

4. Anrich Nortje

Anrich Nortje, freed by KKR post a fitness-hit IPL 2025 (one wicket in two games, 11.86 economy), boasts 61 IPL wickets at 27.16 average across 48 matches. South Africa’s pace ace, with career-best 3/33, remains a raw-speed threat in powerplays; purse-rich teams like CSK or PBKS may revive his bounce for T20 impact.​

5. Jamie Smith

Jamie Smith, England’s rising wicketkeeper-batter, brings T20 strike rates of 144 with 1,687 runs and Test centuries like 184* versus India. At ₹1.5 crore base, his flexibility from top-order to middle suits KKR, DC, or PBKS needing dynamic keepers; five T20I fifties signal IPL breakout potential.

Also READ: Dale Steyn gives no-nonsense view on Steve Smith’s IPL 2026 Auction chances

India is poised to enter a decisive phase of economic expansion that could redefine long-term wealth creation, according to Motilal Oswal Financial Services’ 30th Wealth Creation Study, which projects a sharp acceleration in the country’s economic and consumption landscape over the next 17 years, ANI reported.The study draws a parallel with the last growth cycle, when India’s GDP expanded fourfold from $1 trillion in 2008 to $4 trillion in 2025, and says a similar trajectory could take the economy to $16 trillion by 2042. Unlike the previous phase, which added $3 trillion in absolute GDP, the next leg is expected to add $12 trillion, signalling what the brokerage terms a much stronger wealth-effect that could significantly lift consumption, investment and corporate profitability.A major pillar of this expansion is expected to be the financial services ecosystem, with cumulative household savings estimated at $47 trillion over the period. Banks, NBFCs, insurers, AMCs, wealth managers, capital market platforms and other intermediaries are expected to play a central role in channelling these savings into productive financial assets as households move further towards formal wealth creation avenues.Per capita income, currently around $2,600, is projected to quadruple to $10,400 by 2042, pushing millions of Indians into higher consumption brackets. The study says this transition will strengthen discretionary categories including white goods, food-tech platforms, quick commerce, healthcare, travel, telecom and allied services, accelerating the shift from necessity spending to lifestyle-driven consumption.On automobiles, MoSL highlights significant headroom for growth. Penetration levels of cars, SUVs, two-wheelers and three-wheelers remain well below those of peer economies with similar income levels. As affordability improves and financing deepens, ownership ratios are expected to rise across cities and semi-urban markets.Real estate is also set to be a key beneficiary, with strong demand expected for credible developers, particularly in the premium and luxury segments. Rising household wealth, better affordability and higher preference for quality housing are likely to sustain sectoral momentum.Overall, the study notes that the next 17 years could mark a step-change in India’s economic and wealth trajectory. With expansion taking place on a much larger base, the impact of the wealth-effect is expected to be far deeper than previous cycles, creating long-term opportunities across financial services, consumption-led industries, automobiles and real estate.

NEW DELHI: It’s been three long years since Shivam Mavi played a fixture in the Indian Premier League (IPL). His last outing was in IPL 2022; since then, he has either been on the bench or recovering from injuries. Gujarat Titans (GT) signed him for Rs 6 crore at the 2023 auction but mysteriously didn’t pick him for a single game. Another bout with injury followed, and the Uttar Pradesh pacer had to undergo extensive rehabilitation and start his journey from scratch. Franchises then started losing interest due to fitness concerns, and the bowler was convinced that he needed to find a long-term solution to stay on the park for longer periods.

His action needed some work, and side flexion was identified as the primary cause of concern. Once that was fixed, Mavi had regular appearances for Uttar Pradesh in the domestic circuit but still couldn’t attract franchise interest. He was close to joining an injury-hit Lucknow Super Giants (LSG) during IPL 2025, but early recoveries of Avesh Khan, Akash Deep and Mayank Yadav meant Mavi remained with the franchise as a net bowler.Go Beyond The Boundary with our YouTube channel. SUBSCRIBE NOW!With the next IPL auction just a couple of sleeps away, Mavi is supremely confident of landing a buyer this time around. He is injury-free, playing regular cricket and ready to make an impact for whichever team he goes to. Will there be a compromise on pace? “140+, all day. Every day.” Excerpts:

It’s been a long time since you last played an IPL match. Remember your last outing in the league?

It’s been three years since I played. I didn’t get a chance for two years. Then one year, unfortunately, I got injured when I came in the first match. So after that, I mean, I don’t remember, honestly. A long time indeed.

Shivam Mavi celebrates after taking a wicket in the UPT20 League. (UPCA)

You have played T20I cricket for India, were on the radar of many IPL teams, but somehow things didn’t click. How difficult has it been to undergo the lonely grind in the domestic circuit for Uttar Pradesh?

When you don’t get a chance, you look for answers in domestic cricket. What can I do here so that I can play for the country again? How can I grab the selectors’ attention? What am I missing to get to that level again? Such questions crossed my mind. So I tried to stick to the basics and find answers in the process, whether it’s bowling, batting or fielding. I was clear that I would keep performing and keep doing it regularly. Somewhere down the line, I will get a chance and I will go up again.

Does desperation creep in during these testing times, especially when you are not playing cricket?

Yes. It’s only human. What I have learned so far in my career is that what’s in your hands is just what you can do. I take it match by match. If I am getting this match, what can I do in it? If I am too desperate to do this or that, it doesn’t help, because you get wickets only through patience. By having patience, you know what you have to do. These are the basics that stuck with me and helped me perform. When I see my seniors and how they perform or how they have done throughout their careers, I keep learning from them. Then I try to stay at that level and remain mentally stable so that I can perform further.

Shivam Mavi was a net bowler with the Lucknow Super Giants.

When you are not playing for India or in the IPL, there are months without top-level cricket. You even played club cricket during that period. Was that the most difficult time to deal with?

At first, I was wondering why I was getting injured. So I worked on my action in the off-season. I fixed the side flexion because of which I was getting injured. You will see that since last year, I have been able to play regularly because I have worked a lot on my action. Whenever I get a 10–15 day window, I work on it further so that I can prolong my career and stay away from minor niggles. I play club matches in my free time. No matter how much you do nets, playing matches is important — whether it is domestic or anywhere else. Matches are matches for me. Maybe the competition level is a little low, but every over counts. Playing local matches also helps execute what I am working on in the nets. When I played the domestic season, I was feeling very good and comfortable. I was bowling at a good pace and in good areas as well.

You have spent a lot of time with Rinku Singh on and off the field. Anything he told you that has stayed with you?

Rinku told me once that what is our option to take the next step? It is domestic cricket. What do we do in domestic? We perform. He emphasised performing consistently and staying relevant. You see many cricketers making comebacks after six or seven years. Why and how do they do that? Because of consistent domestic performances. Rinku told me that it happens with everyone, the reasons are different, but everyone goes through this.

There would have been mixed feelings around auctions, right? From getting picked as a youngster to that bid by Gujarat Titans and then going unsold. How disappointing was the last one in particular?

I was very hurt. I wasn’t thinking about money; I just wanted to get picked by any franchise. I was fine even going at the base price. I just wanted to play. My name came up twice but went unsold on both occasions. I had played a decent amount of domestic cricket before the auction and had done well too. When I asked around, I was told it wasn’t a question of skill but my injury history. Franchises were unsure about me playing 14 matches. That’s when I realised I needed to fix my action and work on it. There were certain things I had to fix because my body would naturally give up when I bowled 140+ consistently.

Shivam Mavi has played six T20Is for India.

You were playing the Syed Mushtaq Ali Trophy when the last auction happened. How difficult was it to play for UP after going unsold?

I was very angry and disturbed. I went shopping with Rinku after the auction and bought whatever I felt like. I shopped a lot in anger (laughs). It was difficult to play the match after that, but playing the entire season became my focus.

The auction is a few days away, and your name is again doing the rounds. Are you confident this time?

Yes, I am confident. After fixing my action-related issues, I am confident of playing regular cricket. I am fit and playing all the matches. I played the whole season last year. I missed the first two Ranji matches because I wasn’t ready to bowl so many overs as I was coming back from injury. I had played in the UPT20 league, so I was ready for T20s, but then Ranji Trophy came, and I missed two matches. After that, I played the whole season.This season too, I have played T20s and the Ranji Trophy. Franchises keep a tab on domestic cricket. In longer formats, you can see a player’s fitness. Teams notice whether a player is playing regularly.

You spent time with Zaheer Khan and Justin Langer in the LSG dugout. How was it learning from Zaheer?

When I spoke to Zaheer bhai, he told me there were two options — go home or stay with the team. He personally suggested I stay because I would learn more. He said staying would help me learn by bowling to good players in the nets. Over two-and-a-half months, I learned a lot. Zaheer bhai always kept a close tab on me in nets and practice matches and told me where I needed to improve.

Any specific takeaway from the sessions with Zaheer Khan?

Zaheer bhai told me that the smoother your run-up and release towards the batsman, the less side flexion you will have, and the more pace and nip you will generate. Even though wickets were flat this season and the domestic season started one-and-a-half months earlier, I was still getting some help from the surface.

Is Mavi ready to bowl 140+ all day, every day?

Yes. This year, in all the matches I’ve played, I’ve been bowling around 140–142. In the UPT20 league, I was clocking 140, 142, 143. It depends on recovery. If I don’t recover well, the body isn’t as fast. But this year, I am bowling quicker than last year. There is no compromise on speed. Yes, it is increasing.