India’s raw silk production has experienced steady growth, rising from 31,906 metric tonnes (MT) in 2017-18 to 38,913 MT in 2023-24, as exports figures also jumped significantly in the period.

This growth is supported by the expansion of mulberry plantations from 223,926 hectare in 2017-18 to 263,352 hectare in 2023-24, which boosted mulberry silk production from 22,066 MT in 2017-18 to 29,892 MT in 2023-24, according to latest government data.

Total raw silk production increased from 31,906 MT in 2017-18 to 38,913 MT in 2023-24. Exports of silk and silk goods rose from Rs 1,649.48 crore in 2017-18 to Rs 2,027.56 crore in 2023-24.

As per Directorate General of Commercial Intelligence and Statistics (DGCIS) reports, the country exported 3348 MT of silk waste in 2023-24.

The 134th birth anniversary of Dr. B.R. Ambedkar, the architect of the Indian Constitution, will be celebrated with great fervour and state honours across Uttar Pradesh on Monday, April 14. A series of events have been planned throughout the state to mark the occasion.

In view of the celebrations, the state government has declared a public holiday.

Under the direction of Uttar Pradesh Chief Minister Yogi Adityanath, the day will be observed with grandeur and dignity. Districts across the state will host grand events, seminars, and tribute ceremonies dedicated to Babasaheb’s life and legacy.

On Sunday, a day before the celebration, special cleaning drives will be conducted in all public parks and memorials across the state—particularly those housing statues of national heroes and great personalities. Residents, public representatives, government officials, and employees will also participate in the cleanliness campaigns.

The domestic startup ecosystem continued the funding momentum this week, with raising more than $180 million by 24 new-age companies.

The fintech sector remained the most funded sector. This week saw six growth-stage and 13 early-stage deals.

Among the biggest growth-stage deals, digital payment technology company Juspay secured $60 million in its Series D round led by Kedaara Capital, with participation from existing investors Softbank and Accel.

Another digital payment company Easebuzz raised $30 million in a funding round led by Bessemer Venture Partners.

Alarmed at frauds related to securities market on various social media platforms, capital markets regulator SEBI has issued an advisory for investors to exercise caution and due diligence to verify the genuineness of social media handles of SEBI-registered entities while accessing them.

SEBI noticed an increase in frauds related to securities market on various social media platforms such as YouTube, Facebook, Instagram, X, WhatsApp, Telegram, Google Play Store and Apple Store, etc.

“With increasing adoption of digital communication platforms, it is observed that scamsters are enticing victims by giving trading calls in the name of providing education. They also provide misleading or deceptive testimonials, promise or guarantee of assured or risk-free return etc. through various social media platforms,” according to a SEBI statement.

The Central Electricity Authority (CEA) approved a record number of detailed project reports (DPRs) of six hydro pumped storage projects (PSPs) of about 7.5 GW during FY2024-25, the Ministry of Power said on Saturday, marking a key milestone in India's ongoing commitment to developing advanced and long-term energy storage solutions.

These six projects are Upper Indravati (600 MW) in Odisha; Sharavathy (2,000 MW) in Karnataka; Bhivpuri (1,000 MW) in Maharashtra; Bhavali (1,500 MW) in Maharashtra; MP-30 (1,920 MW) in Madhya Pradesh and Chitravathi (500 MW) in Andhra Pradesh.

The participation of private sector in this segment is quite encouraging and with the help of self-identified PSP, the PSP potential in the country has crossed 200 GW and it is further increasing almost every month.

Digital payments via Unified Payments Interface (UPI) service suffered a nationwide outage on Saturday which affected millions of users.

Digital services on several online payment platforms were disrupted, hindering local shopping, bill payments and business transactions.

According to the outage tracking platform Down Detector, there were 2,358 complaints by 1 pm. Most reported problems were for payments (81 per cent) and fund transfers (17 per cent).

The National Payments Corporation of India (NPCI), which operates the UPI services, said the disruptions were due to technical issues.

The Indian stock markets wrapped up the week on a strong note, gaining nearly 2 per cent, as the US decision to defer tariffs for all countries except China eased recession concerns, boosting sentiment and lifting fears of a global slowdown, experts said on Saturday.

As a result, the Nifty index opened with a strong gap-up and tested resistance near the 20-day exponential moving average (DEMA) around 22,900. It then moved in a narrow range before settling at 22,828.55.

Sector-wise, metals, energy, and pharma led the gains, while broader indices also saw a solid rebound, rising between 1.82 per cent and 2.86 per cent.

“The recovery, supported by a continued decline in the volatility index, is a positive sign, though such sharp moves remain challenging to trade. On the index front, a decisive close above 22,900 could pave the way for a retest of the key moving average zone near 23,400,” said Ajit Mishra–SVP, Research, Religare Broking Ltd.

The Reserve Bank of India (RBI) on Friday announced that it will conduct an Open Market Operation (OMO) purchase of government bonds worth Rs 40,000 crore on April 17.

The move aims to manage evolving liquidity conditions in the financial system, the central bank said in an official statement.

This bond purchase will be in addition to the Rs 80,000 crore worth of government securities already announced on April 1, which is being conducted in four equal tranches of Rs 20,000 crore each on April 3, 8, 22, and 29.

"In a review of current and evolving liquidity conditions, the Reserve Bank has decided to conduct an OMO purchase auction of Central Government’s securities for an aggregate amount of Rs 40,000 crore to be held on April 17" the RBI stated.

Finance Minister Nirmala Sitharaman on Friday invited Austrian companies to invest in India and highlighted the huge potential for strengthening bilateral economic ties between the two countries in renewable energy, electric vehicles, innovations and startups.

Addressing a press conference, Sitharaman said the highly successful visit of Prime Minister Narendra Modi to Austria in July 2024 was a milestone in the India-Austria partnership, especially in elevating our economic and commercial linkages to a higher trajectory.

“Prime Minister Modi had emphasised the political will of the Government of India to expand our partnership with Austria. My visit to Vienna is a reaffirmation of the PM's vision to work towards realising the fullest possible potential of our bilateral relationship with Austria,” Sitharaman added.

She highlighted the opportunities for investment and cooperation between startups in India and Austria, particularly in the field of fintech.

Gold Exchange Traded Funds (ETFs) attracted massive investments in FY 2025, with net inflows of Rs 14,852 crore -- nearly three times higher than the Rs 5,248 crore recorded in FY 2024, according to the data released by the Association of Mutual Funds in India (AMFI) on Friday.

The sharp surge in inflows reflects rising investor preference for safe-haven assets amid global economic uncertainty, persistent inflation, and escalating geopolitical tensions.

According to the AMFI, the rally in international gold prices and the weakening of major global currencies against the US dollar further strengthened the appeal of gold as a portfolio diversifier during the financial year.

The overall trend for FY25 shows that gold remains a trusted hedge against market volatility and macroeconomic risks.