Artificial intelligence could increase aggregate labour productivity by as much as 3.8 per cent over the long term, according to a new International Monetary Fund working paper that analysed patent and employment data across developed economies.

The study found that the rapid growth of AI-related innovation has already generated measurable productivity gains. Researchers estimated that AI patent activity between 2000 and 2017 increased output per worker by between 0.8 per cent and 1.2 per cent.

The findings appeared on Friday in an IMF working paper titled “Artificial Intelligence and Aggregate Labor Productivity: Evidence from Patent Data.”

Researchers examined the broader impact of AI technology on labour productivity using patent data from countries belonging to the Organisation for Economic Co-operation and Development.

The study covered the period from 2000 to 2017. During this period, AI-related patent issuance accelerated significantly and more than tripled by 2017.

OECD countries accounted for about 89 per cent of all AI-related patents issued worldwide during the period, according to the paper.

Using a production-function approach, the researchers assessed whether the growing number of AI patent applications translated into higher output per worker.

Their estimates indicate that AI innovation could generate considerably larger productivity gains in the future as technological development accelerates and businesses adopt AI across more industries.

However, the potential increase of up to 3.8 per cent represents a long-term estimate. The researchers noted that achieving these gains would depend on continued technological development and broader adoption of AI across different sectors.

AI is also unlikely to generate the same productivity gains across all countries and employment categories.

The study found that countries with a larger share of workers in professional and managerial roles recorded greater productivity gains from AI technology.

This finding indicates that AI may generate stronger economic returns when it complements skilled workers rather than simply replacing existing tasks.

However, businesses and workers may need time to realise these benefits. Employees must learn to use new AI systems and integrate them effectively into their daily responsibilities, the paper noted.

The speed at which workers and businesses adapt to AI could therefore determine how quickly the technology translates into higher output.

Labour-market flexibility could also affect the scale of productivity gains. Greater worker mobility could help employees move into occupations and industries where businesses can use AI more effectively.

The researchers said their conclusions remained robust even after accounting for technological spillovers between countries. Such spillovers occur when businesses or economies adopt and adapt AI advances developed elsewhere.

The findings highlight the link between technological innovation, workforce composition and economic policy. Creating more AI patents alone may not deliver the largest economic gains unless countries also develop a workforce capable of using the technology and maintain labour markets that support occupational mobility.

For India, these issues could become increasingly important as businesses expand their use of AI. The country has placed growing policy emphasis on artificial intelligence, digital public infrastructure and technology-led economic growth.

Its large information technology sector and skilled workforce could make employee training, productivity and workforce mobility key considerations in the wider adoption of AI.

The global discussion around AI has also expanded beyond technological capabilities to its potential effects on jobs, wages and economic growth. Governments and businesses are examining how investments in skills, research and digital infrastructure can help economies capture productivity gains while managing potential disruption across the workforce.

As bank staff prepare for a proposed three-day nationwide strike from September 28 to 30, the State Bank of India (SBI) announced on Friday that it will waive ATM transaction charges during the strike period.

SBI said it took the step to ensure customer convenience and prevent disruptions to banking transactions during the strike.

In a post on X, SBI said its services would remain available to customers for their banking needs throughout the proposed strike.

The bank said it will waive ATM charges from September 28 to 30, 2026, allowing customers to make transactions at any bank’s ATM without incurring charges.

SBI also announced that all its branches will remain open on Sunday to support customers during the strike period. In addition, digital payment services such as UPI, IMPS, RTGS, and NEFT will continue to operate as usual.

To minimise disruptions to essential banking services, the government has directed public sector banks to remain open on Sunday.

The Reserve Bank of India has also approved the continued operation of all bank branches, offices, ATM-linked branches, and currency chests on Sunday, September 27.

The Finance Ministry said all public sector banks and Regional Rural Banks will operate normally on Sunday.

The ministry said the government had taken proactive measures to protect customers’ banking needs ahead of the proposed three-day nationwide strike called by the United Forum of Bank Unions (UFBU) from September 28 to 30. The strike follows the bank holidays on September 26 and 27.

The timing of the strike could have extended the disruption in banking services to five consecutive days because of the preceding weekend holidays. The government’s measures aim to reduce the impact on economic activity and ensure access to essential banking services.

The Finance Ministry said the government considers the welfare and convenience of bank customers a top priority. The government and bank managements have urged unions to defer the proposed strike and have taken steps to keep essential banking services running without interruption.

The rupee has cumulatively depreciated 13.1 per cent on a point-to-point basis between March 31, 2025, and September 16, 2026. However, Reserve Bank of India (RBI) Deputy Governor Poonam Gupta said the Indian currency has a fair chance of stabilising and even appreciating from current levels.

“If anything, there seems to be a fair case for the rupee to not just stabilise but perhaps even appreciate from the current levels, as was being anticipated by the market analysts when the capital flow measures were first announced,” she said.

Gupta expects India’s current account deficit (CAD) to narrow further in the coming years as traditional strengths continue to support the economy and new strengths emerge, particularly the growing success in merchandise exports.

“With the RBI remaining committed to ensuring orderly conditions in the foreign exchange market and having the wherewithal to meet decades worth of CAD, or the net balance of payment (BOP) deficit, the current market dynamics do not appear especially well-founded,” Gupta said at the SBI conclave in Mumbai.

India has traditionally recorded a small current account deficit and a larger capital account surplus, which has helped the country maintain a net positive balance of payments.

The country’s CAD-to-GDP ratio has also declined over time, strengthening the resilience of its balance of payments.

“Furthermore, the CAD levels have remained far below the levels generally considered to be prudent for emerging market economies. Net services exports and remittances remain its great structural strengths. Together, they are large and resilient enough to absorb the merchandise trade deficit and keep the CAD contained at below 1 percent of GDP,” Gupta said.

Recent shocks to oil and gold prices have temporarily increased the CAD. At the same time, India’s capital account surplus has fallen short of the CAD over the past two years. This gap resulted in a negative BOP of about $5.0 billion in 2024-25 and $23.6 billion in 2025-26.

Gupta also said India will reduce its dependence on imported oil by developing alternative energy sources and pursuing domestic oil exploration. She expects both developments to reinforce the long-term decline in oil demand as a share of GDP.

“This would be in addition to oil prices themselves stabilising as soon as the conflict resolves. Meanwhile, the rest of the trade basket is responding well to the new trade opportunities that are being leveraged, a strength that will continue with the positive impact of recent FTAs materialising, and a conducive exchange rate,” she said.

The Food Safety and Standards Authority of India (FSSAI) has initiated penal action against major e-commerce platforms, including Swiggy Instamart, BigBasket, Amazon, Flipkart India and Zepto, over various regulatory violations.

The food regulator said the violations include misleading claims, misbranding and the sale or display of prohibited food products.

In a social media post on Instagram, FSSAI described the action as a “major crackdown” on e-commerce platforms over regulatory non-compliances. The regulator said it has intensified enforcement measures against food business operators (FBOs) and e-commerce companies this year.

Meanwhile, FSSAI has proposed a single-phase rollout of Front-of-Pack Nutrition Labelling (FoPL), which would introduce prominent warning labels on packaged foods that contain high levels of salt, sugar or fat.

The food regulator submitted the proposal through an affidavit before the Supreme Court after the court sought a clear timeline from FSSAI and the government for introducing front-of-pack warning labels.

Under the proposed framework, packaged food products that exceed prescribed thresholds for nutrients of concern would have to carry a red hexagon on a white square background on the front of the pack.

The warning label aims to give consumers clear and easily identifiable nutritional information while they shop, helping them make informed food choices.

FSSAI plans to introduce FoPL through a single-phase implementation rather than a phased rollout. The regulator said the proposed warning format draws similarities with the model adopted in Canada and aims to highlight nutrients that may pose health risks when consumers consume them in excess.

Commerce and Industry Minister Piyush Goyal said on Thursday that more than 3 crore young Indians have registered on the Mera Yuva Bharat (MY Bharat) portal.

Goyal said the milestone once again shows that Indian youth remain at the forefront of “Seva and Samarpan for the nation”.

“This youth empowerment initiative, through experiential learning and volunteering, is transforming lives and helping create future leaders for Viksit Bharat 2047. Be a part of this journey, register now and join the My Bharat movement,” Goyal posted on social media platform X.

According to the government, the milestone marks a major expansion of India’s largest youth engagement ecosystem. The platform gives young people opportunities to take part in experiential learning, volunteering, leadership, civic engagement and youth-led initiatives.

Prime Minister Narendra Modi launched ‘MY Bharat’ on October 31, 2023, with the vision of creating a technology-enabled platform that enables young Indians to contribute to the country’s development journey.

Modi has emphasised the need to bring the country’s youth together on a common platform and encourage their greater participation in nation-building.

The platform crossed 2 crore registrations in October 2025 and expanded its reach to more than 2.46 crore registered youth by August 2026. The latest milestone highlights the continued expansion of youth participation through the platform.

‘MY Bharat’ provides a common digital gateway where young people can discover and participate in Experiential Learning Programmes, volunteering opportunities, quizzes, leadership initiatives, youth dialogues and community engagement activities.

As of August 2026, more than 1.22 lakh young people had enrolled in nearly 25,000 Experiential Learning Programmes. These programmes give participants practical exposure beyond conventional classroom learning.

Another major initiative under ‘MY Bharat’ is the Viksit Bharat Young Leaders Dialogue (VBYLD) 2027. The programme offers young Indians multiple opportunities to present their ideas, creativity, leadership and innovation in support of the vision of Viksit Bharat 2047.

President Droupadi Murmu, who honoured excellence in Indian cinema at the 72nd National Film Awards ceremony on Tuesday, urged the country’s biggest film stars to avoid endorsing products that could harm people’s health.

Murmu presented the National Film Awards to leading talents from Indian cinema at a ceremony in Kevadia, Gujarat. Towards the end of the event, she appealed to popular film personalities to use their influence responsibly, particularly among young people.

“Film artistes, who are extremely popular, have the huge power to influence the people of the country, especially the youth. When popular film stars talk about the importance of a disciplined lifestyle, people sit up and take notice. The people follow them,” Murmu said.

“I would like to request the biggest stars of India to refrain from endorsing anything that may prove to be harmful to the body. The job of a star is to spread light. You are all the representatives of the creative economy,” she added.

Murmu also urged film personalities to support labourers, small artistes, assistants and aspiring artists who form a significant part of India’s creative economy. She called for greater social security and respect for these workers.

Anant Nag to Receive Dadasaheb Phalke Award

Veteran Kannada actor Anant Nag will receive the Dadasaheb Phalke Award for 2024 for his significant contribution to Indian cinema and his enduring legacy in the Kannada film industry.

Born Anant Nagarkatte in 1948, Anant Nag has built a career spanning more than five decades. The actor and politician has appeared in more than 300 films across Kannada, Hindi, Marathi, Malayalam and Telugu cinema.

Known for his versatility, Anant Nag has worked extensively in both mainstream and parallel cinema and remains one of the prominent figures in Kannada filmmaking.

Mammootty Receives Standing Ovation

Malayalam cinema veteran Mammootty received a standing ovation after he received the National Film Award for Best Actor for his performance in Bramayugam.

Mammootty walked onto the stage to receive the honour from President Murmu at the National Film Awards ceremony in Kevadia, Gujarat. Attendees applauded the veteran actor as he accepted the award.

Mammootty shared the Best Actor honour with Bollywood actor Kartik Aaryan, who earned recognition for his performance in the sports biopic Chandu Champion.

Dhanush Wins Two National Honours

Actor, producer and director Dhanush secured two honours at the 72nd National Film Awards ceremony in Ekta Nagar, Gujarat.

Dhanush won the National Award for Best Tamil Film for Raayan, which he directed and headlined. The award marks his first National Award recognition for directing.

Released in 2024, Raayan follows a man who enters a world of crime and revenge while trying to protect his family.

Dhanush also received a Special Mention for his performance in Captain Miller, directed by Arun Matheswaran. The film, set during the pre-Independence period, also won the National Award for Best Feature Film Promoting National, Social and Environmental Values.

Yami Gautam Calls National Award a Special Moment

Actor Yami Gautam Dhar, who won the Best Actress honour for Article 370, said the recognition made her feel like a newcomer despite her years of experience in the industry.

Yami Gautam attended the ceremony with her husband, filmmaker Aditya Dhar. Speaking to Prasar Bharati, she described the National Award as the highest honour an artiste in India can receive.

“This is the biggest validation that any artiste in this country could receive. It’s the highest honour. I don’t think I’ll be able to express how I am feeling right now,” she said.

She added that Article 370 had contributed significantly to her growth as an artiste and actor.

The film depicts the events surrounding the abrogation of Article 370 of the Constitution of India.

Sanjay Mishra Highlights the Importance of Staying Grounded

Actor Sanjay Mishra, who won the Best Supporting Actor award, said staying grounded helps him create believable characters on screen.

Speaking to Prasar Bharati at the National Film Awards ceremony, Mishra said he consciously observes the world and the people around him to remain grounded.

“I make a conscious effort to observe the world, to observe the people around me. Only then I will stay grounded,” Mishra said.

“I am a very simple guy but my characters are far from simple, and because of that it manages to reach out to so many people and touch so many lives. I am extremely grateful for that,” he added.

Other National Film Award Winners

Rajkumar Periasamy won Best Direction for Amaran, while Randeep Hooda received the Best Debut Director honour for Swatantrya Veer Savarkar.

Kalki 2898 AD won the award for Best Popular Film Providing Wholesome Entertainment.

Bhangaar won Best Non-Feature Film, while Ram-Nami received the Best Documentary honour.

India’s private sector economy recorded stronger business activity in September, according to HSBC Flash PMI data released on Wednesday.

The HSBC Flash India Composite PMI Output Index rose to 56.5 in September from 54.3 in August, signalling a faster expansion in private-sector activity. Manufacturing and services companies both reported higher output, with manufacturers leading the upturn. New orders also increased at a faster pace, supporting solid job creation, the PMI data showed.

At the same time, inflationary pressures eased, while business confidence strengthened.

The latest PMI reading pointed to the sharpest expansion in private-sector activity since June and pushed the index back above its long-term average.

“Activity in the private sector gained momentum, led by stronger manufacturing. Output and new domestic orders rose at faster rates. Renewed tensions in the Middle East have once again led firms to build buffers to manage the uncertainties,” said Pranjul Bhandari, Chief India Economist at HSBC.

Companies also increased their input purchases at a faster pace. The finished-goods inventory index reached an 11-and-a-half-year high. Manufacturers, however, faced stronger price pressures as output-price inflation accelerated, indicating that companies continued efforts to protect profit margins, Bhandari said.

Indian private-sector companies also recorded faster growth in total new business during September.

Demand strengthened across both manufacturing and services, although manufacturers saw a more significant acceleration. Goods producers recorded sales growth above that of service providers, with manufacturing sales reaching a seven-month high.

Service providers said stronger marketing efforts helped increase new orders. Survey responses highlighted higher demand for property-related services, transport services and new travel bookings.

Manufacturers also reported stronger demand for aluminum products, electronic items, food, pharmaceutical goods and new product models, the data showed.

Employment across the private sector also grew at a solid pace in September. Companies continued to expand their workforce as output and new orders maintained their growth momentum.

Both manufacturers and service providers added staff, with employment growth rates remaining broadly similar across the two sectors.

Indian American community leaders raised concerns about immigration challenges affecting students, families and healthcare professionals during a meeting with Congressman Jim McGovern in Massachusetts.

The India Worcester Center in Shrewsbury hosted the meeting on September 19, bringing together professionals, entrepreneurs, physicians and civic advocates from the Indian American community.

Participants discussed immigration, healthcare, economic opportunities, civic participation and US-India relations. They also highlighted the community’s growing involvement in civic affairs and stressed the importance of maintaining direct communication with elected representatives from both major political parties.

The community did not identify specific immigration proposals in the statement announcing the meeting. Instead, participants highlighted challenges faced by students, families, medical professionals and other immigrants as they navigate the US immigration system.

Participants also stressed that Indian Americans from different religions, generations and political viewpoints should have a meaningful role in civic affairs.

McGovern, a Democrat, represents Massachusetts’ second congressional district in the US House of Representatives.

Indian Americans and US-India Relations

The discussion also examined the Indian American community’s role in building bipartisan support for the India-US Civil Nuclear Agreement.

Ramesh Vishwanath Kapur, founder and president of the US India Security Council, said the agreement demonstrated the potential of bipartisan cooperation.

“The Civil Nuclear Agreement showed what is possible when Republicans and Democrats come together around a shared strategic vision,” Kapur said.

He said the campaign around the agreement also demonstrated how Indian American civic engagement could contribute to stronger relations between Washington and New Delhi.

Satya Mitra, a community leader and Worcester city councillor-at-large, highlighted McGovern’s engagement with his constituents.

“What has always stood out to me is his accessibility and commitment to public service,” Mitra said.

Mitra urged Indian Americans to participate actively in civic affairs and speak openly about issues affecting their communities.

Sahdev Passey also praised McGovern’s work with constituents and his efforts to remain accessible and responsive, according to the statement.

Focus on Broader Civic Engagement

Participants called for continued engagement between Indian American organisations and elected officials at the federal, state and local levels.

They said the diaspora could help strengthen ties between the United States and India because its members understand the cultures, economies and institutions of both countries.

The meeting identified technology, trade, energy, healthcare, education, defence and innovation as areas where Indian Americans could contribute to stronger bilateral cooperation.

Participants also called for greater collaboration among Indian American organisations, business leaders, elected officials, civic advocates, students and younger generations.

They said the community’s civic efforts should go beyond increasing voter participation. Instead, Indian American organisations and community members should build a long-term civic structure that engages policymakers from both parties and advocates for issues affecting Indian Americans and the broader US community.

Smriti Mandhana’s brilliant 79, Shafali Verma’s 48 and Richa Ghosh’s unbeaten 49 powered India Women to a record 216/3 against Sri Lanka in the Asian Games 2026 gold medal match at Korogi Sports Park on Tuesday.

India posted the highest total in Women’s Asian Games history and the highest score in a Women’s T20 final after choosing to bat first in the gold medal clash.

Mandhana led India’s charge with a spectacular 79 off just 45 balls, smashing seven sixes and five fours. Her innings also saw her become the first player in women’s cricket to reach 11,000 international runs.

Shafali continued her impressive run after scoring her maiden white-ball century in the semifinal against Bangladesh. She struck 48 off 29 deliveries, hitting three fours and three sixes.

Richa Ghosh provided a sensational finish with an unbeaten 49 off 22 balls. Bharti Fulmali added seven runs from as many deliveries as India finished with a record 216/3.

India surpassed Hong Kong Women’s previous Asian Games record of 202/4, which they posted against Mongolia during the 2023 Hangzhou Games. India also broke the previous record for the highest score in a Women’s T20 final, surpassing Brazil Women’s 210 against Spain in a quadrangular series final in July.

Mandhana and Shafali Set the Platform

Mandhana and Shafali gave India a flying start, with Mandhana taking charge during the powerplay. The left-hander smashed four sixes in the first six overs, while Shafali cleared the ropes twice as India raced to 67/0.

The opening pair added 99 runs before Shafali attempted a reverse hit and gave a catch.

Harmanpreet Kaur then joined Mandhana and contributed 19 off 17 balls. Mandhana continued to attack before the Sri Lankan bowlers finally dismissed her in the 17th over, when she holed out to deep mid-wicket.

Harmanpreet departed earlier in the 15th over after the Sri Lankan side caught her at long-on.

Richa Delivers Explosive Finish

India promoted Richa to No. 4, and the move paid off immediately. The wicketkeeper-batter attacked the Sri Lankan bowlers and added crucial runs at the death.

Richa smashed 25 runs in the final over alone to take India to 216/3 and complete a record-breaking innings for the Women in Blue.

PT Usha Praises Gold Medal-Winning Team

Indian Olympic Association president PT Usha praised the Indian women’s cricket team after its gold medal triumph at the Asian Games 2026 in Aichi-Nagoya.

“I’m happy that the cricketers won the gold medal and we will get more gold medals, no doubt. I requested the Japan Asian Games organising committee coordination committee to add men’s and women’s cricket in the Games. I wanted to see the cricket, and I am happy that the players have won a gold medal, a proud moment,” Usha said.

President Murmu Congratulates Team India

President Droupadi Murmu congratulated the Harmanpreet Kaur-led Indian women’s cricket team after it won the gold medal in Aichi-Nagoya. The victory marked India’s first gold medal of the ongoing Asian Games edition.

“My heartiest congratulations to all the members of Team India on winning Women’s T20 Asia Cup Championship 2026. They played superbly as a team throughout the tournament, winning all the matches. They have done the country proud. They are a source of great inspiration for our youth, especially our daughters. I am sure, they will script many more inspiring chapters of success and excellence,” President Murmu’s official handle posted on X.

PM Modi Hails India’s Asian Games Triumph

Prime Minister Narendra Modi also congratulated the Indian women’s cricket team following its gold medal victory.

“A splendid triumph for Indian cricket! Heartiest congratulations to our Women’s Cricket Team on winning the Gold medal at the Asian Games. It was a commanding performance at the Games, marked by confidence, skill and wonderful teamwork. This victory also brings India its first Gold of this edition of the Games. The team has made the nation proud and will inspire countless young cricketers across the country. Best wishes to the entire squad,” PM Modi posted on X.

Brief Scores: India score 216/3 (Smriti Mandhana 79 off 45 balls, Richa Ghosh 49* from 22 balls; Chamudi Praboda 1-34, Kavisha Dilhari 1-35) against Sri Lanka

India continues to lead the GDP growth outlook among major economies, with the World Economic Forum’s Chief Economists Outlook report projecting 6.7 per cent growth for 2026-27. The report attributes the outlook to continued resilience in domestic demand.

The September 2026 edition of the Chief Economists’ Outlook examines economic conditions across 10 regions: the United States, Europe, China, Japan, India, Southeast Asia, Latin America and the Caribbean, the Middle East and North Africa, Central Asia, and Sub-Saharan Africa.

A total of 92 chief economists from the public and private sectors contributed to the survey. Among those surveyed, 74 per cent expect strong or very strong growth in India, up from 52 per cent in May. Meanwhile, 98 per cent expect India to record moderate or stronger growth over the next 12 months, the report said.

Unemployment Outlook Remains Stable

The chief economists expect relatively stable employment conditions in India over the next year. About 70 per cent of respondents expect no change in unemployment, while 17 per cent anticipate an increase and 13 per cent expect a decline.

India’s unemployment rate among people aged 15 and above fell to 5 per cent in August from 5.1 per cent in July. At the same time, the labour force participation rate increased from 55.4 per cent to 55.6 per cent.

“These developments point to relatively stable labour market conditions alongside strong activity, although sustained employment creation remains important,” the report said.

Inflation Expectations Moderate

The report also highlights a moderation in India’s inflation expectations since May. Around 55 per cent of chief economists expect moderate inflation over the next 12 months, while 45 per cent expect high inflation. In May, 61 per cent of respondents had expected high or very high inflation.

Consumer price inflation rose to 4.8 per cent in August, moving above the Reserve Bank of India’s 4 per cent medium-term target while remaining within the 2-6 per cent tolerance range.

Monetary Policy Outlook

Most chief economists expect the Reserve Bank of India to maintain its current monetary policy stance over the next 12 months. Around 67 per cent of respondents expect no change in monetary policy, while 24 per cent anticipate tightening.

The RBI kept the policy rate at 5.25 per cent in August and retained a neutral policy stance.

Fiscal Policy Expected to Remain Stable

The survey also points to broadly stable fiscal policy. Around 72 per cent of chief economists expect no change in fiscal policy, while 22 per cent anticipate a looser stance.

“Strong growth and inflation that remains within the tolerance range are broadly consistent with survey expectations of policy stability,” the report said.

GDP Data Triggers Upward Forecast Revisions

The survey closed on August 20, before India released its latest GDP data on August 31. The data showed that India’s economy grew 7.8 per cent in the first quarter of FY27.

The strong quarterly expansion has since prompted several institutions to revise their growth forecasts upward. Moody’s, for example, raised its FY27 GDP growth forecast for India to 7 per cent from its earlier projection of 6 per cent.

The ratings agency cited the resilience of the Indian economy amid the war in West Asia as one of the factors behind its revised forecast.