LIC Responds to USTR Observations: Reaffirms Independent, Competitive, and CustomerCentric Operations

04.04.2025 – PANINDIA

The Life Insurance Corporation of India (LIC) has taken note of the USTR’s recent remarks regarding the favourable treatment extended to LIC by the Government of India. 

LIC wishes to clarify that LIC is treated like any other insurance company by the Government and Regulators. The guarantee—provided at the time of its establishment in 1956—is a statutory provision designed to build public confidence in the early years of nationalisation. It has never been invoked or used as a marketing tool or provided any undue advantage to LIC. 

For the past 25 years, LIC has operated in a fully competitive market alongside 24 private life insurance companies. It is regulated by IRDAI and SEBI and receives no special treatment from the Government or any regulatory authority. 

LIC’s leadership in the insurance sector is entirely due to the trust of its policyholders, its commitment to service excellence, and its financial strength and transparency. With a legacy of over 69 years, LIC continues to serve over 30 crore customers across India with dedication and professionalism. 

We firmly believe the USTR’s views are based on an incomplete understanding of Indian insurance regulation and LIC’s functioning. We urge for a more balanced and factual appreciation of LIC’s role and contribution to financial inclusion and policyholder protection in India. 

“LIC remains committed to upholding the highest standards of governance, service, and customer trust” Siddhartha Mohanty, CEO&MD, LIC has said. 

 

Dated at Mumbai on April 04th, 2025.  

 

For Further Information please contact: 

Executive Director (CC) LIC of India, Central Office, Mumbai. Email id: ed_cc@licindia.com Visit us at www.licindia.in  

Jewel Trendz Launches Business Visionaries of india ranging from ₹5 lakh to ₹5 crore, along with expert guidance, business training, and networking opportunities at the national level to help them grow into skilled entrepreneurs.

 

At the press conference for Business Visionaries of India (BVI), from left to right: Mr. Sanjay Shah (BVI Investor), Shri Govind Verma (Chairman, BVI), Ms. Pooja Jain (Legal Advisor, BVI).

While addressing the press in Mumbai, Shri Govind Verma, Chairman of Jewel Trendz Pvt. Ltd. and the visionary behind Business Visionaries of India, stated, "BVI is not just a platform, it is a revolutionary step towards building a self-reliant India. Our goal is to ensure that even those from the most remote areas of the country have equal opportunities to bring their business vision to life."

The Business Visionaries of India program will have a three-phase selection process for talented students and early-stage entrepreneurs. The first phase involves a basic knowledge test, followed by a business knowledge test, presentation, and interview in the second phase. After successfully completing these stages, the top 100 visionaries will be selected and provided with full support to turn their ideas into sustainable businesses.

Within weeks of its announcement, Business Visionaries of India has received hundreds of registrations from across the country, demonstrating the immense interest and enthusiasm for the initiative.

Shri Govind Verma further elaborated, "Our aim is to promote talented young individuals from rural areas, enable financial inclusion in entrepreneurship, and foster mentorship and leadership capabilities. Through BVI, we aim to bridge the gap between students' ideas and their implementation, ensuring that talent from all corners of India gets the recognition and support it deserves."

Mr. Sanjay Shah, an investor in the BVI initiative, commented, "We are committed to ensuring that the Business Visionaries of India program never faces financial limitations. We will provide all necessary resources to help these entrepreneurs succeed."

Ms. Pooja Jain, the legal advisor for BVI, added, "For every talented student starting their business under the BVI banner, we will ensure that a legal agreement is drafted to avoid any future disputes."

For more information on Business Visionaries of India, including registration procedures, eligibility, exam syllabus, and deadlines, please visit the official website at www.bvindia.in.

Over 88,000 units of residential units sold in Q1 2025, leading to a stable YoY growth: Knight Frank India

• Sales of homes priced over INR 10 mn (INR 1 cr) constituted 46% of market, grew 16% YoY

• Mumbai contributed 28% of overall residential sales volume in the first quarter of 2025

• Bengaluru leads in residential price growth at 16% YoY in Q1 2025

Mumbai, April 03rd, 2025: Knight Frank India’s latest report, India Real Estate: Residential and Office (January - March 2025), highlighted the continued stability India’s residential sector. In Q1 2025 (Jan – Mar), primary residential sales reached 88,274 units, a 2% year-on-year (YoY) increase over Q1 2024. While overall sales remained steady, performance varied across key markets. Five of the eight tracked cities  saw growth in sales, with Pune and Chennai leading with 20% and 10% YoY growth in primary unit sales respectively. Mumbai remained the largest residential market recording its highest quarterly sales volume since Q1 2018, reaching 24,930 units—a 5% YoY rise in Q1 2025.

Premium housing segment (INR 10 mn and above) was the key market driver, accounting for 46% of total sales, up from 40% in Q1 2024. This segment saw a 16% YoY growth, with 40,432 units sold in the first quarter. Notably, ultra-luxury homes (INR 500 mn and above) recorded the highest YoY growth at 483%, increasing from 29 units in Q1 2024 to 169 units in Q1 2025. In contrast, sales in the sub-INR 5 mn category declined by 9% YoY, reflecting a shift in homebuyer preferences towards larger and more premium residences.

Supply of new units outpaced demand for the tenth consecutive quarter, with 96,309 units launched in Q1 2025, reflecting a 3% YoY increase. Bengaluru saw the highest launch growth at 26% YoY. Together, Mumbai and Bengaluru accounted for 44% of all units launched during the quarter. The market health remained stable as the quarters-to-sell (QTS) remained 5.9 quarters in Q1 2025.

Market Summary: Top Eight Indian Cities

  Sales Launches

City Q1 2025 YoY % Change Q1 2025 YoY % Change 

Mumbai 24,930 5% 25,706 2%

NCR 14,248 -8% 13,276 -11%

Bengaluru 12,504 -5% 16,524 26%

Pune 14,231 20% 16,231 22%

Hyderabad 9,459 -1% 10,661 -4%

Ahmedabad 4,687 0% 5,628 5%

Kolkata 3,858 -2% 3,707 -38%

Chennai 4,357 10% 10,661 5%

All India 88,274 2% 96,309 3%

Source: Knight Frank Research

Shishir Baijal, Chairman & Managing Director, Knight Frank India, said “The real estate market has remained resilient in the face of rising concerns of overheating in certain segments. The sustained premiumization trend reflects homebuyers’ aspirations for better lifestyles and larger living spaces. While some cities, like NCR and Bengaluru, saw a dip in sales due to significant rise in prices, the top end of the market remains robust. The interplay between developers and homebuyers in this evolving landscape will shape market trends for the remainder of the year.”

All India Residential Update: January – March 2025

Mumbai maintained its position as India’s largest residential market, recording its highest sales volume since Q1 2018, with 24,930 units sold in Q1 2025—accounting for 28% of total sales nationwide. Pune saw the highest YoY growth at 20%, while NCR and Bengaluru lagged by 8% and 5% YoY, respectively. However, NCR led in sales across the premium ticket size categories of INR 20–50 million, 50–100 mn, 100–200 mn, and 500 mn and above among the eight major Indian cities in Q1 2025.

Residential development has outpaced sales since late 2022. The INR 10–20 million segment saw the highest number of new launches, registering a 15% YoY increase from 24,927 units in Q1 2024 to 28,571 units in Q1 2025. In contrast, launches in the sub-INR 5 mn and INR 5–10 mn categories declined by approximately 19% and 8%, respectively, reflecting shifting homebuyer preferences. The INR 500 mn and above segment experienced an exceptional YoY surge of 341%—the highest among all categories—with launches rising from 75 units in Q1 2024 to 331 units in Q1 2025.

Sales Trends as per Price Category

Below INR 5 mn 

This ticket size segment accounted for 24% of total sales, with 21,010 units sold in Q1 2025. However, sales in this category declined by 9% from 23,026 units in 2023, as higher prices and homebuyers increasingly favouring premium properties hampered traction during the quarter. Mumbai’s residential market contributed significantly, accounting for nearly 50% of sales in this segment with 10,121 units sold.

INR 5-10 mn –ticket-size category with highest sales traction in Q1 2025

Despite a 6% YoY decline, the INR 5–10 mn segment recorded the highest traction, with 26,832 residential units sold across the country. This segment accounted for 30% of the total residential sales volume across eight key markets. Pune led in this category, emerging as the largest market with 6,690 units sold in 2024.

INR 10-20 mn – second highest segment in terms of quarterly sales volume 

The INR 10–20 million segment accounted for approximately 25% of total sales volume in Q1 2025, with 22,330 residential units sold. Mumbai and Bengaluru led this category, contributing 22% and 20% of sales, with 4,865 and 4,507 units sold, respectively, during the quarter.

INR 20-50 mn – an emerging ticket size segment 

This ticket size segment saw its sales volume grow from 10,725 units in Q1 2024 to 13,735 units in Q1 2025, reflecting a 28% YoY increase. It accounted for 16% of total sales across eight key markets. NCR led this category, contributing 36% of sales with 4,968 units sold in Q1 2025. 

INR 50-100 mn

The sales volume has increased by 82% from 1,898 units in Q1 2024 to 3,448 units in Q1 2025. NCR accounted for 67% to this segment with sales volume of 2,302 units. 

INR 100-200 mn- Crosses 500 mark for the first time

Sales in this segment surged by 114%, rising from 308 units in Q1 2024 to 658 units in Q1 2025, surpassing the 500-unit mark for the first time. NCR led with 425 units sold, followed by Mumbai with 107 units and Hyderabad with 95 units. 

INR 200-500 mn – Mumbai was the largest market

Though at a lower volume base, it is interesting to note that sales in the segment have increased substantially by 124%. This segment recorded sales of 92 units in Q1 2025 from 41 units in Q1 2024. Nearly 71% of the sales in this segment were contributed by Mumbai residential market with sales volume of 65 units. 

Above INR 500 mn - segment with highest growth of 483%, NCR was the largest market

This ticket size category recorded the highest YoY growth of 483%, albeit on a small base. Sales in the above INR 500 million category reached 169 units, with NCR dominating the market by accounting for 88% (148 units) of total sales, while Mumbai contributed the remaining 12%.

City-wise Ticket Size Sales in Q1 2025 (Part 1) 

<5 mn 5-10 mn 10 – 20 mn 20 – 50 mn 

City Sales in units City Sales in units City Sales in units City Sales in units 

Mumbai 10,121 Pune 6,690 Mumbai 4,865 NCR 4,968

Pune 4,054 Mumbai 6,244 Bengaluru 4,507 Mumbai 2,950

Kolkata 1,598 Bengaluru 3,998 Hyderabad 4,257 Bengaluru 2,439

Ahmedabad 1,545 Hyderabad 2,743 NCR 3,727 Hyderabad 1,608

Bengaluru 1368 NCR 1,773 Pune 2,785 Pune 670

Chennai 969 Ahmedabad 2,124 Chennai 1,032 Kolkata 448

NCR 883 Chennai 1,907 Ahmedabad 721 Chennai 367

Hyderabad 472 Kolkata 1,353 Kolkata 439 Ahmedabad 285

Total 21,010 Total 26,832 Total 22,330 Total 13,735

Source: Knight Frank Research

City-wise Ticket Size Sales in Q1 2025 (Part 2) 

50 – 100 mn 100 – 200 mn 200 – 500 mn >500 mn

City Sales in units City Sales in units City Sales in units City Sales in units

NCR 2,302 NCR 425 Mumbai 65 NCR 148

Mumbai 557 Mumbai 107 NCR 25 Mumbai 21

Hyderabad 284 Hyderabad 95 Kolkata 1 Bengaluru -

Bengaluru 187 Chennai 15 Pune 1 Pune -

Chennai 67 Pune 7 Hyderabad - Kolkata -

Pune 24 Bengaluru 5 Bengaluru - Hyderabad -

Kolkata 19 Ahmedabad 4 Ahmedabad - Chennai -

Ahmedabad 8 Kolkata 0 Chennai - Ahmedabad -

Total 3,448 Total 658 Total 92 Total 169

Source: Knight Frank Research

Residential Price Appreciates 

Price levels have continued their strong run across all markets in YoY terms. In sequential terms as well, they have held steady or grown in all markets. Price levels in Bengaluru and NCR saw exceptional growth at 16% and 12% YoY as the focus intensified toward development of premium, high-rise properties. 

Residential Price Movement

City Q1 2025 in INR/sq ft 12-month change 3-month change

Mumbai 8,360 6% 1%

NCR 5,370 12% 6%

Bengaluru 7,116 16% 7%

Pune 4,825 6% 1%

Chennai 4,854 7% 1%

Hyderabad 6,164 9% 3%

Kolkata 3,947 9% 3%

Ahmedabad 3,099 2% 0%

Source: Knight Frank Research

Health of the Market, Quarters to Sell (QTS) 

The current QTS level remains steady at 5.9 quarters, unchanged from a year ago, indicating that sales velocity is effectively offsetting inventory growth and keeping market dynamics balanced. In the INR 20–50 mn and INR 50–100 mn segments, QTS levels stand at 4.0 and 3.6 quarters, respectively, suggesting that rising inventory in these categories is not yet a concern. However, the QTS level is higher at 7.3 quarters in the INR 500 mn and above segment and significantly elevated at 18.1 quarters in the INR 200–500 mn segment. It is important to note that the ultra-luxury market remains relatively small, with fewer than 1,500 units in these two segments combined. As a result, even minor shifts in supply or sales can cause significant volatility in the QTS metric over short periods.

-END-

About Knight Frank:

Knight Frank LLP is a leading independent, global property consultancy. Headquartered in London, Knight Frank has 27,000+ people operating from over 740+ offices across more than 50 territories. The Group advises clients ranging from individual owners and buyers to major developers, investors, and corporate tenants. For further information about the Company, please visit www.knightfrank.com

Knight Frank India is headquartered in Mumbai and has more than 1,700 experts across Bengaluru, Delhi, Pune, Hyderabad, Chennai, Kolkata, and Ahmedabad. Backed by strong research and analytics, our experts offer a comprehensive range of real estate services across advisory, valuation and consulting, transactions (commercial, retail, land capital and residential), project management, and facilities management. For more information, visit www.knightfrank.co.in

Creating Future-Ready Engineers: NMIMS MPSTME Showcases Innovations in Sustainability and Industry Ready 4.0 Labs.

Mumbai, 2nd April 2025: NMIMS Mukesh Patel School of Technology Management & Engineering, a reputed institution of NMIMS University, has been setting benchmarks in the world of engineering education while leading the way towards sustainability and developing cutting-edge technologies. Since its establishment in 2006, MPSTME has gained a strong reputation in academic excellence, global collaborations, and industry partnerships.

Academic Distinction and Industry Engagement.

The prestigious ABET accreditation proves MPSTME's commitment to quality education, securing its place in the list of institutions that have been recognised Internationally. MPSTME boasts its strong placement record that showcases its industry-oriented approach, with the highest package reaching up to INR 1.22 Cr (International), INR 30 LPA (Domestic) and an average of INR 11 LPA. 

MPSTME's pioneering MBA-Tech program uniquely integrates technology expertise with management skills, offering specialisations in high-demand fields like Data Science while fostering global perspectives through prestigious academic partnerships with Virginia Tech, Stevens Institute of Technology, Monash University, Oakland University, and HTWG University in Germany. Furthering its commitment to industry-relevant education, MPSTME has launched an innovative four-year full-time program in collaboration with Tata Consultancy Services (TCS), designed to produce job-ready engineers equipped with practical skills that meet the evolving demands of the technology sector.

Talking about these milestones, Dr. Sharad Mhaiskar, Pro Vice Chancellor of NMIMS, added, The future of engineering lies not just in academic excellence, but in the ability to adapt to a constantly evolving world. At MPSTME, we focus on fostering this adaptability, ensuring that our students are prepared for the challenges of tomorrow's industries."

Sustainable Future: MPSTME's Industry 4.0 Labs and Green Initiatives

MPSTME is now approaching sustainability with students leading projects that align with national environmental goals. The institution recently presented its highlighting sustainability projects to Minister Shripad Naik, receiving commendation for its contributions.

These projects offer solutions to real-world applications, helping students gain hands-on experience and be responsible leaders who proactively pave the way for a sustainable future.

Industry Ready 4.0 Labs: Transforming Engineering Education

MPSTME has established state-of-the-art laboratories ensuring students meet the demands of Industry 4.0. Key facilities include:

● Bosch Lab: A strategic collaboration with Bosch, this lab provides industry-grade equipment, helping students gain practical knowledge into modern engineering applications.

● 3D Printing and Laser Cutting Lab: This facility enables students to develop prototypes, enhancing their skills in advanced manufacturing technologies.

● AR/VR Labs: These labs explore the potential of virtual and augmented reality, allowing students to work on immersive technology applications relevant to multiple industries.

Technologies such as 3D printing, laser cutting and AR/VR are expected to change the future massively with its unique applications. Speaking on these developments, Dr. Koteshwar Rao, Dean of MPSTME, stated, Innovation is at the core of engineering education. By integrating emerging technologies like AR/VR and 3D printing into our curriculum, we are empowering our students to become pioneers of the next technological revolution.

Shaping the Future of Engineering

With a strong commitment to innovation, sustainability, and academic excellence, MPSTME continues to broaden its reach in engineering education. The institution’s emphasis on practical learning and industry collaboration positions its students as future-ready engineers trained to make significant contributions to society.

About NMIMS MPSTME:

Mukesh Patel School of Technology Management and Engineering, a top engineering college in Mumbai was essentially established to serve the need of creating an innovative and integrated space for technology education interspersed with sound management practices that converged with changing industry as well as societal needs. The vision was to match the emerging demands in the field by creating holistically trained engineers possessing sound technical expertise as well as a vision to integrate their knowledge into creating technology that serves the changing needs of the present world. MPSTME building today, with its new age engineering courses in Mumbai, industry 4.0 labs and cutting-edge infrastructure stands a live testimony to the steady realisation of this vision. 

Website- https://engineering.nmims.edu/ 

LinkedIn- https://www.linkedin.com/school/nmims-engineering/ 

Facebook- https://www.facebook.com/NMIMS.Engineering/

Instagram- https://www.instagram.com/mpstme/

Twitter- https://twitter.com/NMIMS_MPSTME

Action-Packed Scenes to Ultimate Face-Off: 5 Reasons to Watch Salman Khan’s Sikandar This Eid!

From Action to Emotions – 5 Reasons to Watch Salman Khan’s Sikandar This Eid on the Big Screens!

Salman Khan is set to set the big screen ablaze this Eid with Sikandar, hitting theaters on March 30. The film’s trailer and songs have already ignited massive excitement, promising a high-octane mix of action and drama. With full-on mass entertainment, Sikandar is poised to be a blockbuster and a true treat for Bhaijaan fans. As anticipation soars for its release, here are five compelling reasons why Salman’s upcoming Eid extravaganza is a must-watch on the big screen!

*Salman Khan’s Electrifying Entry: A Mass Moment Guaranteed!*

Salman Khan’s larger-than-life screen presence is pure magic, and what’s a Salman film without a grand, whistle-worthy entry? Bursting through thick white fumes, he makes sure his fans aren’t left disappointed. His fierce, action-packed avatar, combined with his signature swag, guarantees an adrenaline rush that will set theaters roaring with excitement!

*Explosive Action and Powerful Dialogues*

When Salman Khan is on screen, every line and scene is pure whistle-worthy magic! His dialogues, from Kick to Wanted, remain iconic even today. For Sikandar, the makers ensured power-packed lines like “Bohot saare policewale jail gaye hain...” and “Mere gusse par mera full control hain...” Fans can already picture the deafening cheers when Bhaijaan delivers these on the grand 70mm screen!

*Original Storyline and Pure Mass Entertainment*

In an era of remakes, Sikandar stands out with its entirely original storyline. Directed by Ghajini filmmaker AR Murugadoss, every scene and frame is crafted with authenticity. “This is a completely original story,” the director confirmed. Adding to its uniqueness, Santosh Narayanan’s powerful background score elevates the film’s energy and depth. Seeing a big star in a fresh narrative will be an exciting experience for audiences.

*Salman Khan & Rashmika Mandanna’s Chemistry*

Salman Khan and Rashmika Mandanna are set to share the screen for the first time, and their electrifying chemistry in the trailer and songs has already sparked massive excitement. Fans are eagerly awaiting this fresh pairing, with social media buzzing over their on-screen dynamic. Watching their characters unfold on the big screen promises to be a thrilling experience.

*Salman Khan vs. Sathyaraj: An Awaited Face-Off!*

A hero is only as strong as his villain, and Salman Khan knows this well. This time, he faces the formidable Sathyaraj, famed as Kattappa from Baahubali. Playing a scheming politician, Sathyaraj’s composed yet menacing presence promises intense confrontations. Their high-stakes battle will be a thrilling cinematic showdown!

Get ready for an epic cinematic experience this Eid 2025! Salman Khan returns to the big screen, joined by the stunning Rashmika Mandanna in Sikandar. Backed by the visionary Sajid Nadiadwala and directed by the master storyteller A.R. Murugadoss, the film is set to release on March 30, 2025.

LIC's clarification on the recent changes in rules raised by the agents to the Hon'ble Leader of the Opposition

_Today some of the LIC agents met the Hon’ble Leader of Opposition and raised certain issues._*

“ _We want to clarify that LIC has introduced products that align with the New Product Regulations set by IRDA, effective from October 1, 2024, keeping policyholders’ interests at the forefront_ .” said *Siddhartha Mohanty, CEO&MD, LIC.*

“ _Committed to broadening life insurance coverage, LIC has consistently focused on reaching rural areas and economically and socially disadvantaged sections. Our aim is to extend financial protection to every insurable individual at an affordable cost_ .” *Shri. Mohanty said.*

*Shri Mohanty* added “ _With a diverse portfolio catering to various customer segments and different strata of society, LIC fully complies with all regulatory requirements. As an example, our Micro Bachat plan offers a minimum sum assured of ₹1 lakh and is exempt from GST, ensuring accessibility. Post changes in product regulations, the commission has not been reduced for agents, it has been given in staggered manner_ .”

“ _LIC remains dedicated to providing financial security to its policyholders while also supporting the well-being of its agency force_ .” *Shri Mohanty said.*

Special Measures for extending services to Policy Holders of LIC of India

The Offices of LIC of India under jurisdiction of Zones and Divisions will be kept open for normal operations as per official working hours on 29.03.2025, 30.03.2025, and 31.03.2025 in order to avoid any hardship to the policyholders. This is as per the advisory issued by Insurance Regulatory and Development Authority of India (IRDAI) dated 12.3.2025.