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What will the leadership playbook look like in an age marked by geopolitical upheaval and technological disruption? A power-packed panel at the Economic Times 40 Under Forty awards ceremony agreed that a blend of agility, empathy and uncompromising execution will help leaders adapt to a rapidly changing world.Fashion designer Masaba Gupta, who is part of the 2025 Class of 40 Under Forty, said leadership today requires "going back to the drawing board". Best practices, she argued, can sometimes become barriers. "You have to keep the agility of a young brand alive but execute faster," she said.When asked what modern leadership today gets wrong, Shuva Mandal, partner, Anagram Partners, said many businesses remain "tone-deaf" to changing realities, both inside and outside their organisations. "What is the pulse with the community, with your people? Too often, people only want to hear what they want to hear. The bracket of those who genuinely welcome advice is very small," he said. 124614444 The conversation turned to the ethical use of AI, a topic that has reshaped boardroom priorities across industries. Ameera Shah, executive chairperson of Metropolis Healthcare, cautioned against adopting technology for optics. "It's good to embrace the new, but not just for the sake of a buzzword. In healthcare, I wouldn't let AI diagnose reports, and the data and algorithms just aren't there yet. But AI will absolutely transform productivity and how doctors spend time," she said.As Geetika Mehta, managing director, Nivea India, said that while AI now drives insights and product development, human intuition remains central to brand building. "We use AI to understand the consumer pulse and personalise engagement at scale. But the final decision still rests with the people. There is still that element of intuition and creativity that is needed," she said. 124614477 Gupta, too, acknowledged AI's disruption in the fashion industry, particularly in graphic design, product development and R&D, but said it cannot replace human sensibility. She noted that when it comes to storytelling, an AI-generated copy lacks the soft touch of a human. "I think that there is a very famous quote that is doing the rounds: you are not going to be replaced by AI. You are going to be replaced by AI if you don't learn how to use it well to your advantage," she said, adding that her teams follow clear guardrails on when to use AI and when to rely on their own judgement.As the discussion widened to global realignments and reorder, Shah underlined the need for anticipation and scenario planning. "Leaders can't be punters. Our job is to build scenarios and say, if it goes in this way, am I ready? Anticipating risk and planning your next steps is a very critical part of governance to protect the business." 124614488 Shah said when the world is shifting, one has to be ready to embrace any pivot that may be needed to correct the business. "We have seen businesses in the last six months completely stop because of the (US) tariffs. We knew the tariffs were coming... but there were many people who just sort of said, 'Oh, it's not coming', and now they have gone bust."On the nationalist sentiment in India, Mehta cited a recent closed-door meeting with the government where 'Make in India' was the centre of the agenda. "Here in India, we have our own factory. But I think the reality is that a lot of companies today do use their global networks to make in a few places and sell elsewhere. And with this protectionism coming through, it could potentially impact (businesses)." 124614511 Mandal said while geopolitics is not a leadership issue, businesses today are getting more aligned with governments. "Leaders across the world are going to the capital cities and asking, 'Tell us what we should do'. You are seeing the tech titans meet in the White House. You are seeing similar issues in China. In India, meetings are not so public. But if you really go into the strategies of business houses in a very deep way, you can see it is pretty aligned with what governments want them to do."Bringing the conversation full circle, Gupta reflected on leadership in the public eye and the balance between self-worth and social validation. "I am an entrepreneur first. The celebrity part is just a bonus. My brand will always be product-first. I wear different hats throughout the day. In my mind I can make that differentiation," she said.

Cochin Shipyard Limited (CSL), a public-sector shipbuilder, will launch three technologically advanced vessels, including an Anti-Submarine Warfare Shallow Water Craft (ASW SWC) for the Indian Navy, here on Saturday, the company said.The other vessels to be launched are the Hybrid Electric Methanol-Ready Commissioning Service Operation Vessel (CSOV) and India's largest Trailer Suction Hopper Dredger, DCI Dredge Godavari.According to CSL, the triple launch reaffirms the shipyard's leadership in naval, commercial and green maritime segments."These launch will showcase India's engineering excellence, indigenisation drive and commitment to sustainable maritime development under the Maritime India Vision 2030 and Aatmanirbhar Bharat initiatives," the CSL said in a statement.The ASW SWC for the Navy is the sixth vessel built under an eight-ship contract signed in April 2019.The 78-metre-long, 896-tonne craft can achieve speeds up to 25 knots and is equipped with advanced underwater sensors, lightweight torpedoes, ASW rockets, and mine-laying capability, the CSL said.The vessel can also conduct low-intensity maritime operations, coordinated ASW missions with aircraft, and search and rescue operations in coastal waters.It will replace the Indian Navy's Abhay-class corvettes, enhancing the force's near-shore anti-submarine capabilities with improved automation and endurance, the CSL statement said.The CSL said that Hybrid Electric Methanol-Ready CSOV (Hull No. BY 151) marks CSL's entry into the offshore renewable energy market.The 93-metre-long, 19.6-metre-wide vessel, equipped with hybrid-electric propulsion, methanol-ready engines, large lithium-ion battery packs, and a motion-compensated gangway system, will support commissioning and maintenance of offshore wind turbines, the statement said.It will also serve as a "floating hotel" for offshore technicians, designed to world-class comfort and noise standards, the CSL said.Similarly, DCI Dredge Godavari, being built for Dredging Corporation of India in collaboration with Royal IHC, Netherlands, is India's largest and most advanced dredger.The CSL said that the 12,000-cubic-metre Trailer Suction Hopper Dredger, measuring 127 metres in length with a dredging depth of 36 metres, will boost India's port deepening and reclamation capacity."This project embodies the Aatmanirbhar Bharat vision, bringing world-class dredging technology to Indian shores and strengthening the nation's port-led development," the CSL added.

US President Donald Trump claimed that Prime Minister Narendra Modi has vowed to halt purchases of Russian oil - an issue at the centre of a diplomatic and trade rift between the two countries.Indian oil companies, which are the world's second-largest buyers of Russian oil, said they await clarification on such purchases from the government.Russian oil, which now makes up more than a third of all crude oil they process in refineries to produce fuels like petrol and diesel, cannot be halted abruptly, and at best, imports, for now, can be reduced.Here is an explainer on India's Russian oil trade: BACKGROUNDIndia is the world's third-largest oil-importing and consuming country. It imports 87 per cent of its about 5.5 million barrels per day of crude oil consumption.Russia is one of the world's largest producers and exporters of crude oil. OIL TRADETraditionally, India bought two-thirds of all its crude oil from the Middle East countries, such as Iraq, Saudi Arabia and the UAE.India turned to purchasing Russian oil sold at a discount after Western countries imposed sanctions on Moscow and shunned its supplies over its invasion of Ukraine in February 2022.Consequently, from a mere 1.7 per cent share in total oil imports in 2019-20 (FY20), Russia's share increased to 40 per cent in 2023-24, and it is now the biggest oil supplier to India.In terms of volume, India imported 88 million tonnes from Russia in FY25, out of the total shipment of 245 million tonnes.The primary reason driving the Russian oil buy was the discounts relative to other internationally traded crude oil. Discounts topped USD 19-20 per barrel in 2023, but have since shrunk to USD 3.5-5 per barrel. OIL IMPORT NUMBERSIndia's crude imports in September were around 4.7 million barrels per day, up 2,20,000 bpd month-on-month and flat year-on-year. Russian crude maintained its position as the largest single supplier, contributing about 1.6 million bpd - a 34 per cent share.However, this was roughly 1,60,000 bpd below the average Russian volumes imported during the first eight months of 2025, preliminary data by global trade analytics firm Kpler showed.In the first half of October, Russian oil supplies were at 1.77 million bpd. Iraq was the second biggest crude oil supplier to India at around 1.01 million bpd, followed by Saudi Arabia at 8,30,000 bpd. The US has overtaken the UAE to become India's fourth largest supplier with 647,000 bpd.UAE supplied 394,000 bpd. STOPPING RUSSIAN OILCutting off Russian supplies immediately is near impossible. Typically, oil is contracted 4-6 weeks prior to delivery, so the one that is being delivered now is what would have been contracted in early and mid-September.Deliveries for at least till the end of November have already been contracted. So, the best-case scenario, in case what Trump said is true, would be that Indian refiners will stop contracting and deliveries from Russia will start drying up from the third or fourth week of November.Going by the contracts entered, the current flows of 1.6-1.8 million bpd of Russian imports look "more realistic" for the coming few weeks, analysts said. TRUMP STATEMENTAccording to Kpler, Trump's suggestion that India will cut Russian oil imports appears to be political posturing, with no official confirmation from New Delhi. Flows from Russia remain robust. "Indian imports of Russian crude are tracking at a strong 1.8 million bpd in October, up approximately 2,50,000 bpd from September." The dip in imports during July-September was driven less by tariff concerns and more by seasonal factors, particularly increased maintenance activity at PSU refineries. In fact, most contracts for deliveries up to early September were finalised 6-10 weeks in advance, meaning deals were largely locked in before July 31. So, dips in July-September were mostly due to refinery requirements. ECONOMICS OF RUSSIAN OILRussian crude remains structurally vital for India, accounting for roughly 34 per cent of its total imports and offering compelling discounts that are too significant for refiners to ignore.The rationale for India's continued procurement is clear. Even with narrower discounts than in 2023, Russian barrels remain one of the most economical feedstock options available to Indian refiners due to landed discounts and high GPW (gross product worth) margin outputs from grades, such as Urals. WHAT IS RUSSIAN OIL FLOWS STOPRussia is a major oil exporter. Its three primary customers are China, India and Turkey. In September, China bought 47 per cent of Russia's crude exports, followed by India (38 per cent), Turkiye (6 per cent) and the EU (6 per cent).Stopping Russian oil imports would force India to rely on limited alternatives, potentially driving global crude prices up to USD 100 per barrel amid rising demand and tight supply.Analysts said there is a finite supply of crude oil on the planet. If one major supplier - Russia - is taken out of the equation, importers, likely India, will have to fall back on other suppliers. This increased demand for non-Russian oil will drive up prices, potentially stoking inflation globally.Russia exports about 4.3-4.8 million bpd (total output of 9.2 million bpd), which is about 5 per cent of the overall crude oil supply.India has managed to bring down inflation as it kept fuel rates unchanged in the last few years. It created a buffer by buying low-priced Russian and other crude and used it to keep retail pump rates stable when international prices rose, like in 2022.While the shift to Russia helped India secure affordable energy supplies, the Trump administration criticised the purchases, accusing New Delhi of profiteering by buying discounted Russian oil and exporting refined fuel to regions, including Europe.India has maintained that its actions do not violate any international laws, as there are no sanctions on purchasing Russian crude. The European Union only recently imposed a ban on importing fuel derived from Russian crude. Additionally, the US has not sanctioned the purchase of Russian crude oil or its refined products.While many EU countries have banned imports of Russian oil, a price cap was introduced for other countries purchasing Russian crude oil. Indian imports have adhered to this price cap. OPTIONS BEFORE INDIAIndian refiners can operate without supplies from Moscow from a technical standpoint, but the shift would involve major economic and strategic trade-offs, analysts said.Russian crude supports high distillate yields - the share of crude converted into fuels like petrol, diesel, and jet fuel through distillation. Replacing Russian crude, resulting in lower middle distillates (diesel and jet fuel) and higher residue outputs.Deep discounts and strong compatibility with India's refining systems led to a surge in imports of Russian Ural crude oil.Russian crude supports high distillate yields (diesel and jet fuel) and is ideally suited to India's advanced refining infrastructure. It has enabled both state-owned and private refiners to operate above nameplate capacity while maintaining strong margins.Should Russian oil become inaccessible, India could face an additional USD 3-5 billion in annual import costs (based on a USD 5 per barrel premium on 1.6-1.8 million bpd).If global prices rise further (a scenario in which Russian crude exports are being curtailed, in the absence of sufficient buying interest from India), the financial burden could increase significantly.Replacing 1.6-1.8 million barrels per day (bpd) of Russian crude would require a multi-regional approach.The Middle East remains the most viable option operationally, grades such as WTI Midland from the US could contribute 2,00,000-4,00,000 bpd.These (US crude) are lighter and yield less diesel, a disadvantage for India's distillate-heavy demand. Long-haul freight and cost considerations will also restrict scalability. West Africa and Latin America (LatAm) crudes offer moderate potential.A balanced replacement strategy may involve 60-70 per cent of substitute volumes from the Middle East, with the US and African/LatAm crudes serving as tactical fillers, analysts said.US IMPORTSAccording to Kpler, India can import more from the US, but the upside is capped at around 4,00,000-5,00,000 bpd. India has limited upside, due to US grades facing both logistical disadvantages, economic and compatibility challenges with Indian refining systems, which makes a material swing toward American crude unlikely.Though Indian refiners continue to diversify and try to get cargoes that suit the economics, Kpler data shows Indian imports of US crude have averaged 310 kbd so far in 2025, an increase from 199 kbd in 2024, hitting a yearly high of approx 500 kbd (Expected in October). EXPERT COMMENTPrashant Vasisht, Senior Vice President and Co-Group Head, Corporate Ratings, Icra Ltd, said, "Icra believes domestic refiners will purchase crude from various sources guided by economics and availability".While the overall volumes of Russian crude remain high, the discounts on Russian crude have been coming down, owing to which the crudes from the Middle East have become attractive because of the geographical proximity of the region to India, he added.

Stockbroker Groww on Thursday rolled out commodities trading on its platform, as it continues diversifying its wealth and capital markets offerings.Groww customers with active trading accounts can trade in commodities such as crude oil, gold, silver and natural gas through the Multi Commodity Exchange from 9 am to 11:30 pm, according to information available on the stock broking platform's website.Traders in India have been increasingly showing interest in investing in commodities to diversify their portfolios and hedge against market volatility.In the past few months, IPO-bound Groww has launched multiple offerings in the capital markets space as part of its strategic diversification push.The company launched corporate bonds, Margin Trading Facility, 915 (a pro-traders-focused platform), and W, a wealth management offering (after acquiring Fisdom).At present, Groww has over 18 million active customers.Last month, Billionbrains Garage Ventures, the parent company of Groww, filed updated draft papers with Sebi for an Initial Public Offering (IPO), with industry sources familiar with the development pegging the issue size at an estimated Rs 7,000 crore.The proposed IPO comprises a fresh issue of equity shares worth Rs 1,060 crore along with an Offer For Sale (OFS) component of 574,190,754 equity shares by promoters and investor shareholders, according to the updated Draft Red Herring Prospectus (DRHP).

Mid-tier IT services company LTIMindtree on Thursday reported a 12% YoY growth in its consolidated Q2 net profit at Rs 1,401 crore versus Rs 1,251 crore in the year-ago period. The profit after tax (PAT) is attributable to the company's shareholders.The company's revenue from operations in the quarter under review stood at Rs 10,394 crore, which was up 10% over Rs 9,433 crore in the corresponding quarter of the last financial year.The net profit rose 12% on a sequential basis compared to Rs 1,254 crore in Q1FY26, while the topline increased 6% versus Rs 9,841 crore in the April-June quarter.The company announced a dividend of Rs 22 per equity share, and will be paid within 30 days from today. The company has set October 24 as the record date for the purpose. Also Read: Wipro Q2 Results: Cons PAT rises 1.2% YoY to Rs 3,246 crore, misses Street estimatesOn a standalone basis, the net profit stood at Rs 1,381 crore, up 10% QoQ and 10.4% YoY while the revenue was reported at Rs 10,394 crore, rising by 5.6% QoQ and 10.2% YoY.The Earnings Before Interest and Taxes (EBIT) stood at Rs 1,648 crore, rising by 17.2% QoQ and 13% YoY.The dollar revenue was reported at $1,180.1 million, up 2.3% QoQ and 4.8% YoY while the revenue in constant currency increased 2.4% QoQ and 4.4% YoY. The operating margin (EBIT) stood at 15.9%, expanding by 160 bps QoQ. The net profit stood at $156.8 million, up 6.6% QoQ and up 4.9% YoY.Commenting on the company's earnings, Venu Lambu, Chief Executive Officer and Managing Director said that Q2FY26 was a strong quarter for LTIM, marked by broad-based performance across its business. “We delivered our second consecutive quarter of growth with margin improvement ahead of plan. We are committed to becoming an AI-centric organization, leveraging our BlueVerse™ ecosystem. Our strategy remains on course, and our results reflect disciplined execution, the depth of our client relationships, and solid progress in our ongoing transformation,” Lambu said.Also Read: Eternal Q2 Results: Zomato parent's PAT plunges 63% YoY to Rs 65 crore, but revenue soars 183%(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

Air India on Thursday announced that some of its domestic flights will move from Terminal 3 to Terminal 2 at Delhi Airport starting October 26, amid T3 expansion activities. "Starting 26th October 2025, Air India and Air India Express will adjust their domestic operations at Delhi Airport to support T3 expansion activities," the Indian airline said in a statement.All domestic flights of Air India with flight numbers starting with the 1XXX series will operate from Terminal 2 (T2), whereas all domestic flights of Air India Express will move to Terminal 1 (T1)Passengers must note that all international flights will continue to operate from Terminal 3 (T3) of the Delhi International Airport. The airline advises the passengers to keep their contact details updated and check flight/terminal information via airline channels.7 Things to Know About Air India’s Terminal Shift at Delhi Airport1. Who’s moving whereFrom October 26, 60 out of 180 daily Air India domestic departures from Delhi will operate from the upgraded Terminal 2. Air India Express will operate all domestic flights from Terminal 1 (T1). The move supports the airport's T3 expansion and aims to ease congestion.2. International flights stay putThere is no change for international travelers — all Air India and Air India Express international flights will continue to operate from Terminal 3 (T3) of Delhi Airport.3. How to identify your new flightAir India has informed that all flights moving to T2 will now carry four-digit numbers starting with ‘1’ (AI1XXX). This new numbering system aims to help passengers instantly identify their terminal. Air India Express has marked the shifted flights in four digits starting with 9.4. Check before you travelBefore heading to the airport, passengers are advised to cross check their terminal information via booking confirmation, SMS/email updates, or the Air India website.5. Easy transfers between terminalsThe airline has arranged a dedicated shuttle service every 10 minutes that will connect Terminals 1, 2, and 3, to ensure smooth transfers for passengers catching connecting flights.6. Hassle-free baggage transfersIf a passenger is connecting between terminals, their checked baggage will be transferred airside. Hence, they do not need to collect and recheck it.7. Extra help on the groundPassengers can expect additional ground staff in distinct uniforms at each terminal to guide them, along with buggy services and special assistance options for those who need mobility support.