Latest Developments

Asia
The Hindu BusinessLine

Making agricultural insurance faster, simpler and more accessible for Indian farmers

Technology, policy reforms and stronger last-mile networks can make agricultural insurance in India faster, simpler and more accessible, helping farmers manage rising weather and climate-related risks. | Photo Credit: SPECIAL ARRANGEMENT Agricultural insurance is an important safety net for India’s farming community, particularly as unpredictable weather events and climate-related risks continue to affect crop yields and farm incomes. With over 100 million farming households dependent on agriculture, making insurance faster, simpler and more accessible is critical to protecting livelihoods. While flagship programmes such as the Pradhan Mantri Fasal Bima Yojana (PMFBY) have expanded the reach of crop insurance, challenges around claim settlement, documentation and awareness continue to limit its effectiveness. Technology, supported by policy reforms and strong last-mile distribution, can help address these gaps and make agricultural insurance more responsive to farmers’ needs. One of the biggest opportunities lies in reducing the time taken to assess crop losses and settle claims. Traditional Crop Cutting Experiments (CCEs), while important, can be supplemented with satellite imagery and remote sensing to assess crop health and identify the impact of droughts, floods and other weather events at scale. Drones can further strengthen this process by enabling rapid assessment of localised damage caused by hailstorms, floods or other extreme events. Such technology-led assessments can improve accuracy and reduce dependence on lengthy physical inspections. Parametric or index-based insurance can take this further by linking payouts to predefined weather conditions. Data from automated weather stations and IoT-enabled devices can trigger payouts when specified rainfall, temperature or other thresholds are breached. This can enable quicker settlements directly into farmers’ bank accounts. For many farmers, the complexity of documentation and application processes can be as significant a barrier as the cost of insurance itself. Integrating digital land records with insurance platforms can reduce paperwork, minimise duplication and make policy issuance more seamless. Mobile applications designed around rural users can also simplify the process. Multilingual interfaces, voice-based navigation and simple video-based loss reporting can make it easier for farmers to report crop damage within the prescribed timeframe. Accessibility should not, however, depend entirely on smartphones or high-speed internet. WhatsApp-based services and USSD solutions can provide alternative channels for registration, claim updates and policy tracking, particularly in areas with limited connectivity. Technology will have the greatest impact when supported by a strong grassroots network. Common Service Centres, Primary Agricultural Credit Societies, India Post Payments Bank networks and local Krishi Sakhis can serve as trusted touchpoints for insurance enrolment and assistance. There is also a need to move towards more flexible products. Small and marginal farmers may benefit from micro-insurance covers tailored to individual crops, shorter crop cycles or specific climate risks, such as heatwaves affecting Rabi wheat. Equally important is transparency around premium subsidies. Clearly communicating the government’s contribution and the farmer’s share typically 1.5–2 per cent for foodgrain crops and 5 per cent for commercial crops under PMFBYcan improve understanding and build confidence among non-loanee farmers.

Making agricultural insurance faster, simpler and more accessible for Indian farmers
Asia
The Hindu BusinessLine

August rainfall ends 16% deficient; Indian monsoon 14% below normal in June-August

India received 603.7 mm of rainfall during the first three months of the 2026 monsoon season, 14% below the long-period average, with 14 states deficient. | Photo Credit: SHIVA SHARMA After June had 35 per cent deficient rainfall and July 1 per cent surplus, August has received 16 per cent below-normal rainfall. The country as a whole has received 603.7 mm of rainfall during the first three months of the 2026 monsoon season, which is 14 per cent lower than its long-period average (LPA) of 700.7 mm. According to India Meteorological Department (IMD) data, 17 meteorological subdivisions are deficient, and 18 have received normal rainfall, whereas Odisha is the only state with excess rainfall, at 26 per cent above normal, during June-August. Among all the states and union territories, as many as 14 states, including Kerala, Karnataka, Tamil Nadu, Andhra Pradesh, Rajasthan, Punjab, Bihar, and Assam, are deficient, while others have received normal or more precipitation. The east and north-east region has received 26 per cent less rainfall, the north-west region 11 per cent deficient, central India 4 per cent lower, and the south peninsula 24 per cent below normal, so far this year. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

August rainfall ends 16% deficient; Indian monsoon 14% below normal in June-August
Europe
BBC Business

How much could Trump's 'economic D-Day' hurt Iran?

Image source, EPAByBernd Debusmann JrWhite House reporter Published4 hours agoNearly six months after US President Donald Trump vowed a swift victory over Iran, the conflict appears to be at a standstill, with prospects of a military victory or negotiated settlement growing dimmer. To break the deadlock, Trump has vowed an "economic D-Day" under which any country that does business with Iran would face "tremendous" economic consequences. Iran, however, has long faced sanctions and has so far shown a willingness to endure pain and a capacity to adapt to immense economic and military pressure as the conflict drags on. The key question for the US then becomes, will further sanctions work where other strategies have failed? The exact mechanics of the new US economic pressure campaign remain unclear, with Treasury Secretary Scott Bessent promising to reveal them in a news conference on 24 August. But in an interview with CNBC, Bessent made clear that the US is willing to take action against any country - friend or foe - that it believes is extending a lifeline to Iran. "You are either with us or against us," he said. "If you insist on doing business with [Iran], either transferring money, buying their oil or doing seaborne sea transfers, then the US treasury and the US government... will put its full might and force toward enforcing against you." Vice-President JD Vance has described the sanctions as a "new phase" of the conflict in which economic pressure is the "most effective" tool available to the US. "They're going to try to apply economic pressure to us, but what has been true over the last couple of weeks is that they felt a lot more pressure than we have," Vance said on the Clay Travis and Buck Sexton show. "We're going to keep that going because we think that's the best way to ultimately achieve the final objective," he added. Iran has faced significant US sanctions since nearly the beginning of the Islamic Republic in 1979. The economic pressure campaign intensified after the first Trump administration withdrew from the Joint Comprehensive Plan of Action (JCPOA), a 2015 pact between world powers and Iran to curb its nuclear programme.

How much could Trump's 'economic D-Day' hurt Iran?
Europe
BBC Business

Why the US economy is ringing alarm bells

Image source, Getty ImagesByMichael RaceBusiness reporter, Reporting fromNew YorkPublished4 hours agoWhat with a 250th birthday, Taylor Swift's wedding and the football World Cup, Americans could be forgiven for taking their eye off the ball this summer. But signs of economic trouble have been building. This week they hit the headlines when US national debt passed the $40tn mark, raising concerns both at home and abroad. It took almost 200 years for America's national debt reach $1tn for the first time, says Maya MacGuineas, president of the Committee for a Responsible Federal Budget. That milestone back in 1981 was treated as a wake-up call. "At that time, President [Ronald] Reagan told the nation in a televised address, 'If we as a nation needed a warning, let that be it'," she said. "Jumping to America's 250th year, we are spending more than that just on interest payments on our debt." Hitting the $40tn milestone was expected - driven by public spending surges under both the Donald Trump and Joe Biden administrations - but it marks another line in the sand. Ballooning costs for social programs and other spending have outstripped revenues undermined by tax cuts. Responses to crises such as the 2008 financial crisis and the Covid pandemic have led to increased borrowing. Add to that higher interest rates in response to recent inflation shocks and the picture begins to look grim. At the beginning of Trump's first presidential term in 2016, US national debt stood at just under $20tn. It has doubled in the decade since. According to the Congress Joint Economic Committee, the figure is rising by about $90,000 every second, or $7.8bn a day. "What's very different now compared to a decade ago is the level of interest rates," says Eric Swanson, professor of economics at University of California and former senior economist at the Federal Reserve. "Long-term interest rates in the US are at multi-decade highs - part of that is concerns about inflation, but part of that is concerns about the extreme levels of US government borrowing."

Why the US economy is ringing alarm bells
North America
CNBC Finance

Hyundai's new flagship vehicle is a large luxury Genesis EV

The up to seven-seat EV features a new design direction for Genesis and expands the luxury brand's lineup to seven vehicles in the U.S., as Hyundai continues to grow its sales domestically. The Genesis GV90 is the largest vehicle the brand has offered since entering the U.S. market a decade ago. It's expected to compete against the Cadillac Vistiq and Escalade IQ, Mercedes-Benz EQS SUV and Rivian R1S in the large SUV segment. "Today marks a landmark arrival for Genesis and for the future of luxury mobility," Hyundai CEO José Muñoz said in a statement. "GV90 opens a new chapter for Genesis, building on our track record of bold innovation, elevated customer experiences, and an unwavering commitment to excellence." The GV90 will be produced at a new Hyundai facility in Ulsan, South Korea. It is expected to go on sale in the U.S. early next year. The company said pricing for the vehicle, which marks its fourth EV in the U.S, will be disclosed closer to the vehicle's arrival. Genesis declined to say whether the GV90 also could be offered as a hybrid or gas-powered vehicle, which it has done with other nameplate like its GV70 SUV and G80 sedan. EV sales in the U.S. have slowed during the past year with the end of federal support by the Trump administration, including up to $7,500 to purchase an EV. The vehicle will be available in two variants: the GV90 Neolun, which includes coach doors that open from the middle of the vehicles, or standard GV90 trims with conventional swing doors. A "First Edition" of the vehicle with special badging, wool cashmere and other plush materials also will be available. The coach doors — also known as suicide doors — are uncommon in the automotive industry. They make entry and egress much easier but are harder to engineer to meet safety standards, which Genesis said it has done. "Safety remains paramount in the GV90 Neolun, despite the absence of a [middle] pillar. Genesis engineered a new structure that seamlessly marries the doors to the vehicle body while maintaining the highest safety standards," the company said. The automaker said the GV90 features a new high-performance electric motor system capable of up to 490 kilowatts (about 660 horsepower) and 800 Newton-meters (590 foot-pounds) of torque. It will have an expected EV range of roughly 310 miles, according to the company. The design, which features a vehicle-wide dual light that meets at a point in the center, was previously previewed as a concept vehicle by the brand in 2024. Genesis' U.S. sales through the first six months of this year are up roughly 5% from a year earlier, to 39,088 units. The brand has achieved 22 consecutive months of year-over-year sales growth. Get this delivered to your inbox, and more info about our products and services.

Hyundai's new flagship vehicle is a large luxury Genesis EV
Europe
The Guardian

Why is the Trump administration causing turmoil in the bond markets? | Richard Partington

Some analysts have highlighted parallels to the conditions preceding the 2008 global stock market crash. Photograph: Yuki Iwamura/APView image in fullscreenSome analysts have highlighted parallels to the conditions preceding the 2008 global stock market crash. Photograph: Yuki Iwamura/APUS Government borrowingExplainerWhy is the Trump administration causing turmoil in the bond markets?As yields are dragged higher in the UK, Europe and Japan, the impact for consumers and businesses will be far-reaching ‘Starve the beast’? The $40tn cost of Republicans’ false promises to cut spending Government borrowing costs around the world have surged to the highest levels in decades amid growing fears over US bond market turmoil. Anxiety about Donald Trump’s handling of the US economy, and concern that the US president’s war with Iran is driving up inflation, are causing a sell-off in the US bond market. Highlighting the world economy’s dependence on US stability, the yield – in effect the interest rate – on UK, French, German and Japanese government debt has been dragged higher. Here we look at the factors driving the bond market, and the likely consequences. Long-term US government borrowing costs have risen to the highest level since 2007, with the 30-year Treasury bond yield trading above 5%. A bond is a form of loan that investors make to a borrower, or bond issuer. The yield represents the money an investor receives for owning the debt as a percentage of its current price. Prices fall when investor demand wobbles, which pushes up yields. Against this backdrop, the US Treasury secretary Scott Bessent said this week that Washington would at least double its purchases of long-term US bonds in an attempt to assuage investor concerns. Washington also staged a joint intervention this month with Tokyo to prop up the value of the Japanese yen. Bessent’s intervention on Wednesday helped to push down yields, but the impact was only temporary: they were rising again on Thursday, reversing most of that early move. With US Treasury bonds a lynchpin in global financial markets, the rise in US borrowing costs has dragged yields higher for other countries. G7 nations have faced among the sharpest increases: UK 10-year bond rates are close to the highest since 2008 and 30-year rates are near 1998 levels; Germany’s are at 2011 levels and France at a 16-year peak. Japanese borrowing costs have also hit the highest level since 1996. The breakdown of negotiations in the US-Israel war on Iran is the main source of investor unease. The US national debt hitting $40tn (£29.3tn) for the first time – after having doubled over the past decade – is also stoking fear that Trump’s tax and spending plans are unsustainable.

Why is the Trump administration causing turmoil in the bond markets? | Richard Partington
Europe
BBC Business

Nearly 3 million Teslas recalled in China over hidden door handles

Minimalist retractable door handles became a signature feature of electric vehicles (EVs), but the controversial designs are now at the centre of China's biggest car recall, affecting more than 4 million vehicles. The recall, which includes 2.98 million Chinese-made Teslas, follows safety concerns that the hidden door handles are difficult to locate and open in emergency situations. Other brands affected by the recall include Chinese carmakers XPeng, Xiaomi and Geely. Made popular by multi-billionaire Elon Musk's Tesla, hidden door handles are designed to tuck seamlessly within the car's door panel and only extend outwards approaches their vehicle. The design came under scrutiny after two fatal crashes in China involving Xiaomi EVs, in which power failures were suspected to have prevented doors from being opened. Tesla said in a statement on Friday that it was recalling some of its Model 3, Y, S and X vehicles due to door handles that are "difficult to identify and operate because their colour is similar to the interior trim". This could hinder occupants or rescuers from quickly opening the doors in an emergency, such as during a "severe collision causing the vehicle's low-voltage system to fail." Tesla said it will place warning labels on the recalled vehicles and issue a software update to automatically lower a vehicle's windows after a collision. It is not clear if the affected firms plan to make a similar recall for the rest of the world. Under new rules due to take effect on 1 January 2027, cars will only be allowed to be sold in China if they have a mechanical release on both the inside and outside of their doors. Tesla's door handles were also involved in a probe by US safety regulators after reports that they suddenly stopped working, leaving children trapped in the cars. In July, the US National Highway Traffic Safety Administration suggested creating a new formal safety standard for all carmakers.

Nearly 3 million Teslas recalled in China over hidden door handles
Asia
The Hindu BusinessLine

AI is like a marathon, but you have to run it like a sprint: Ganesh Gopalan of Gnani.ai

One of the oldest artificial intelligence (AI) firms of the country, Gnani.ai has recently launched Gnani Artha, an end-to-end sovereign AI stack for Indian enterprises and public institutions, built on two key components -- Gnani Evon v3.3, a 30-billion-parameter open-weights model trained natively across 11 Indian languages -- and Gnani Plexus, the company’s agentic AI platform. Gnani Artha is backed by the government’s India AI Mission. The company that has the largest deployments of voice AI in the world, in terms of volumes, is now looking at family of models with such models. In an interview with businessline, Ganesh Gopalan, Co-Founder and Chief Executive Officer, Gnani.ai said that as AI is still in the nascent phase in India there are a lot of scope for everyone, but also added that there is no time to look sideways at competition right now and one should focus on doing things they are best at. Gnani Artha is really our sovereign platform, which will host a bunch of models. It is a 30-billion parameter model. What we are looking to do in the future, there will be a whole family of models. We are planning to launch 100-plus billion parameter models. First is 70-billion parameter, then 100 plus billion parameter and each model has its own uses. For the reason why we have launched this 30 billion parameter model, will be very different from the reasons why we launch a 100- billion parameter model. This parameter model we wanted to do for Indic language capability, and there’s a benchmark that we have called MILU. The tokens consumed here for languages like Gujarati, Malayalam, which is always tougher points for global models, which they struggle, consume at least 40 per cent less tokens than them. We are offering it as a sovereign piece and anybody can take it and launch it within their own servers with complete security. India being a country of multiple languages and also more dialects, how difficult or challenging is to cover them in your models? That’s a specific challenge and if you see global languages, global models, they don’t work for this. But, we also have speech text models that work with almost every language of India and we call it Prisma. That’s the most accurate speech to text model in the industry today, and there again, we are adding more languages. Like you said, the biggest challenges are some languages which don’t have a written text. But, we basically started our company as a speech to text company right back in 2017 and we built India’s first speech to text models. And, now we are looking at launching more languages. We are collecting data everyday for that. We have the largest dedicated data set in the world for Indian languages. As competition is rising, especially with a lot of startups and companies from foreign lands too in this space, and some even launching models for free, how do you plan to beat them? I think firstly, this is not the time to look sideways at competition. We are in a business that is expanding at an incredible pace and we are actually saying no to a lot of business because we are unable to expand our sales and support teams at the pace that customers are willing to work with us. And, there are going to be opportunities for multiple people. AI is like a marathon, but it’s a marathon that you have to run it like a sprint, and in a sprint the moment you start looking to sideways, you are gone. So, there is a place for everybody, and you should focus on the battles that you are fighting. For instance, a typical model, a lot of people think that it is one metric that defines a model. But, it is not. It’s like Onam Sadhya. You have so many elements in an Onam Sadhya, each tastes different, and each person would have a liking for a different dish when ask them. So that’s what the models are for, and a competitor may be focused on different problems than what we are focused on. I think there is just enough business and market because we are in day zero of AI and we have a lot more to go. On the policies side, the government is planning for AI regulation now. Do you support the idea and what inputs would you like to give to government for that? It’s a very tricky thing...do you want to go like the Europe way or the US way. I think India will go somewhere in between. Probably more towards the US way, but it will be somewhere in between because you have to realise that being a democracy of such a large population we should definitely also be very careful of deepfakes, and problems like these, which would cause issues within the country. So, even though I am an AI practitioner, I love my country more and I do feel that there has to be certain amount of regulation for sure. But, it has to be done in such a way that it doesn’t stifle the industry. It’s very important, we don’t have a Silicon Valley in India. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

AI is like a marathon, but you have to run it like a sprint: Ganesh Gopalan of Gnani.ai
Asia
The Hindu BusinessLine

AP CM Naidu to inaugurate Veligonda irrigation project on August 31

Andhra Pradesh Chief Minister N. Chandrababu Naidu | Photo Credit: bl-online Administrator Andhra Pradesh Chief Minister N. Chandrababu Naidu will inaugurate Phase-I of the long-awaited Veligonda irrigation project on August 31, 2026 and release Krishna waters into the drought-prone region. marking the fulfilment of a three-decade-old dream of people of the State. The project is expected to transform drought-affected parts of Markapur, Prakasam, Nellore and Kadapa districts by improving irrigation and drinking water availability. The State government is organising the inauguration under the theme “Veligonda Jalasirulu – Abhivruddhiki Rekkalu” (Veligonda’s Water Wealth – Wings to Development). Naidu had laid the foundation stone for the project on March 5, 1996, as the Chief Minister of undivided Andhra Pradesh, will inaugurate its first phase nearly 30 years later. Veligonda is being regarded as a lifeline for a region that has suffered for decades from scanty rainfall, depleted groundwater, fluoride contamination and inadequate irrigation facilities. The project has been designed to divert Krishna waters from the Srisailam reservoir through gravity into the Nallamala Sagar reservoir and distribute the stored water through canals for irrigation and drinking purposes. Once fully operational, the project is expected to provide irrigation to 4.47 lakh acres and benefit people in 30 mandals across Prakasam, Markapur, Nellore and Kadapa districts. Around 23 lakh people, including those in fluoride-affected areas, are expected to receive drinking water benefits. With the inauguration of Phase-I, 10.70 TMC of Krishna water will be released into Nallamala Sagar. The first phase is aimed at providing irrigation to around 1.19 lakh acres and drinking water to approximately four lakh people. The availability of assured irrigation is expected to reduce uncertainty for farmers and encourage crop diversification. Reduced dependence on groundwater could also facilitate the expansion of horticulture, agro-processing and food-processing industries, creating employment opportunities in rural areas and helping reduce migration. The Veligonda project has undergone a long and challenging journey since its foundation stone was laid in 1996. Tunnel construction, feeder canals, head regulators, land acquisition and rehabilitation and resettlement of displaced families were among the major challenges that delayed its progress. After the NDA Government assumed office in 2024, Veligonda was accorded priority and construction works were accelerated. The government focused on completing tunnel works, feeder canals, head regulators and other associated structures, besides addressing rehabilitation and compensation issues. The government paid ₹768 crore as compensation to displaced families to expedite the works. Another ₹169 crore was earmarked for people whose names were missing from the gazette or beneficiary lists. Compensation of ₹2 lakh each was also announced for those who attained the age of 18 after 2019, according to a relase.

AP CM Naidu to inaugurate Veligonda irrigation project on August 31