Reliance Jio and Bank of Baroda (BoB) launch bob World Lite for JioPhone Prima 4G
[Reliance Jio, Bank of Baroda (BoB)]
Key Updates:
- Reliance Jio Infocomm Limited (Jio) and Bank of Baroda (BoB) have partnered to launch 'bob World Lite', a mobile banking application for feature phone users.
- The application is specifically designed for the JioPhone Prima 4G device to expand digital banking access in semi-urban and rural areas.
- The app features a lightweight, low-bandwidth architecture that supports keypad navigation and secure access.
- Services offered include Unified Payments Interface (UPI) enabled Scan & Pay, money transfers, bill payments, and recharges.
- The platform allows self-onboarding for both BoB customers and customers of other banks.
- The app comes pre-loaded on new JioPhone Prima 4G devices and is available for download via the JioStore for existing users.
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- NPCI Bharat BillPay (NBBL) announced that Axis Bank is now live on the Banking Connect platform.
- Banking Connect platform was launched in 2025 and provides interoperability between payment aggregators and banks for netbanking transactions.
- Axis Bank joins State Bank of India (SBI), ICICI Bank and HDFC Bank on the platform.
- The integration enables Axis Bank’s 37 million customers to experience faster checkout across more than 4,800 merchants in India.
- Eight banks and 11 payment aggregators are currently live on the Banking Connect platform.
- NBBL is a wholly owned subsidiary of the National Payments Corporation of India (NPCI).
- Dan Bailey has been appointed as President of Jio Platforms to spearhead its global business initiatives.
- Bailey will be based in London and will join the company’s Executive Committee.
- He will report to Akash Ambani, Chairman of Reliance Jio Infocomm.
- Bailey has over 35 years of experience and previously served as Chairman of Deutsche Bank’s technology, media and telecom (TMT) practice.
- Jio Platforms is backed by Reliance Industries Limited (RIL) and aims to export its 5G and digital ecosystem capabilities to international markets.
- Bank of Baroda (BoB) launched its artificial intelligence-powered conversational platform bob SAMVAD on March 28 in Mumbai.
- The platform enables real-time two-way communication in 22 languages to reduce language barriers at branches.
- Initial rollout covers 250 branches across Tamil Nadu, Karnataka, Telangana, Andhra Pradesh and Maharashtra.
- The system was developed in-house and uses AI-based speech and language technologies for low-latency communication.
- BOBCARD, a wholly owned subsidiary of Bank of Baroda (BoB), introduced the Braille-enabled BOBCARD PREMIER Credit Card.
- The launch event was held at the Manipal Academy of Higher Education (MAHE) campus to promote accessibility in financial services.
- The initiative coincided with the felicitation of the Indian Blind Women’s Cricket Team, winners of the inaugural Blind Women’s Cricket T20 World Cup.
- The card provides accelerated reward points on travel, international, dining, and lifestyle spending, along with select airport lounge access.
- BOBCARD was established in 1994 and offers a range of credit products including shopping, co-branded, professional, and premium travel cards.
International Monetary Fund (IMF) places India at sixth in global GDP rankings
[International Monetary Fund]
Key Updates:
- The International Monetary Fund (IMF) estimates India's GDP at $3.92 trillion for 2025, ranking it sixth globally.
- The IMF estimates the United Kingdom's GDP at $4 trillion and Japan's GDP at $4.44 trillion for 2025.
- India's nominal GDP grew around 9 per cent in rupee terms, reaching Rs 318 trillion in 2024 and Rs 346.5 trillion in 2025.
- The rupee depreciated from 84.6 per US dollar in 2024 to 88.5 per dollar in 2025, affecting the dollar‑denominated ranking.
- The base year for India's GDP was revised from 2011–12 to 2022–23, lowering nominal GDP from Rs 357 trillion to Rs 345.5 trillion in the new series.
- The IMF cut its 2027 India GDP projection to $4.58 trillion from $4.96 trillion in the earlier October update.
- The IMF projects India to remain sixth in 2026 with GDP about $4.15 trillion, rise to fourth in 2027 with $4.58 trillion, surpass Japan in 2028 with $5.06 trillion, and reach third by 2031 with $6.79 trillion.
- By 2030, the IMF projects India's GDP to reach $6.17 trillion, narrowing the gap with Germany.
- The Reserve Bank of India (RBI) intervened in the foreign exchange market as the rupee traded in the Rs 94–95 per dollar range before stabilising at Rs 93.39.
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- The World Bank (WB) estimated India's Gross Domestic Product (GDP) growth to have accelerated to 7.6 per cent in Financial Year 2025-26 (FY26) from 7.1 per cent in FY25.
- The WB projected India's growth to slow to 6.6 per cent in FY27, an upward revision from the 6.5 per cent forecast made in the January Global Economic Prospects report.
- India remains the fastest-growing large economy in the world in FY26, supported by strong domestic demand and export resilience.
- The WB identified high foreign exchange (Forex) reserves, fiscal space, and low inflation as strong policy buffers to weather global energy shocks.
- The growth estimates for FY27 are based on an assumed oil price range of USD 90-100 per barrel.
- Moody's Investors Service (Moody's) lowered its India GDP growth estimate for FY27 to 6 per cent due to the West Asia conflict.
- Domestic consumption was bolstered by income tax cuts and Goods and Services Tax (GST) rate reductions implemented in the previous year.
- The WB noted that India's growth momentum is supported by positive policies including the European Union (EU) Free Trade Agreement (FTA) and new labour laws.
- The International Monetary Fund (IMF) raised India’s growth forecast for FY27 to 6.5% from 6.4% projected in January and 6.2% in October last year.
- Growth is expected to remain steady at 6.5% in 2027-28, keeping India the fastest-growing economy in both years.
- India’s GDP growth for 2025-26 is estimated at 7.6% based on government projections.
- The IMF projects India’s inflation to rise to 4.7% in FY27 from 2.1% last year, then ease to 4% in 2027-28.
- India’s current account deficit is estimated at 2% of GDP in 2026-27 and 1.6% in 2027-28.
- The Reserve Bank of India (RBI) has projected 6.9% growth for this fiscal.
- The World Bank raised India’s growth outlook for this fiscal to 6.6% from 6.3%.
- The Asian Development Bank (ADB) revised India’s growth estimate to 6.9% from 6.5%.
- Goldman Sachs has raised India’s real Gross Domestic Product (GDP) growth forecast for calendar year 2026 by 20 basis points to 6.9 per cent.
- The upward revision follows the United States (US) reducing reciprocal tariffs on Indian goods to 18 per cent from the previous 25 per cent.
- The revised 18 per cent tariff rate aligns India with other Asian economies that face US tariff rates ranging between 15 per cent and 19 per cent.
- India’s bilateral goods trade surplus with the US doubled from approximately $20 billion in CY2015 to about $40 billion in CY2025 year-to-date.
- The expansion in trade surplus was primarily driven by higher surpluses in electronics, pharmaceutical products, and textiles.
- American crude oil accounted for 7 per cent of India’s crude imports by volume in Financial Year 2026 (FY26) up to November 2025, compared to 4 per cent in FY25.
- International Monetary Fund (IMF) raised India’s 2025 growth projection by 0.7 percentage point to 7.3% from 6.6% in October 2025.
- IMF lifted India’s 2026 growth estimate to 6.4% from 6.2%.
- World Bank pegs India’s FY2026 growth at 7.2%, an upward revision of 0.9 percentage points.
- Government estimates India’s GDP growth at 7.4% for FY 2025-26, up from 6.5% last FY.
- IMF projects global growth at 3.3% for 2026 and 3.2% for 2027.
- IMF forecasts US growth at 2.4% in 2026, Euro area at 1.3% in 2026 and 1.4% in 2027, China at 4.5% in 2026 and 4.0% in 2027.
- Global headline inflation seen easing to 3.8% in 2026 and 3.4% in 2027 from 4.1% in 2025.
Vingroup signs pact to invest $6.5 billion in Maharashtra
[Vietnam, Vingroup, Maharashtra]
Key Updates:
- Vingroup entered into an agreement with the Maharashtra government to explore investments worth about $6.5 billion across multiple sectors in the state.
- The proposed investments include integrated urban townships, electric mobility solutions, renewable energy, and social and public infrastructure.
- Vingroup will explore integrated urban townships spanning approximately 1,000 hectares with residential, commercial, education, healthcare and amenity components.
- The urban development component is estimated at around $5 billion targeting new growth centres near Mumbai, including the emerging zone Mumbai 3.0.
- Through GSM India, Vingroup proposes to deploy a large‑scale electric taxi fleet of about 60,000 electric vehicles, with an estimated investment of approximately $1.5 billion, creating tens of thousands of jobs over three to five years.
- Via VinEnergo, Vingroup will explore large‑scale renewable energy investments aligned with India’s energy transition roadmap and net‑zero emissions targets.
- Group firms Vinschool, Vinmec and Vinpearl will explore development of social and public infrastructure projects in education, healthcare, public electric bus transportation and tourism services.
- Maharashtra Chief Minister Devendra Fadnavis stated that the investments will significantly enhance urban infrastructure, boost sustainable mobility and create large‑scale employment opportunities.
- The Maharashtra government and Mumbai Metropolitan Region Development Authority (MMRDA) will support Vingroup in land identification, project planning, facilitation of statutory approvals, provision of connectivity infrastructure and consideration of applicable incentives.
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- The Antariksh Venture Capital Fund, managed by SIDBI Venture Capital Limited (SVCL), will begin investing in Indian space startups from the first quarter of FY2027.
- The fund has a committed corpus of ₹1,005 crore aimed at boosting private sector innovation in India’s space economy.
- SVCL received Securities and Exchange Board of India (SEBI) registration for the fund on 31 October 2025.
- The fund completed its initial closing on 10 November 2025 after appointing a custodian and registering with depositories for issuing alternative investment fund units.
- Union Minister Jitendra Singh announced that the first round of funding approvals is expected soon.
- The Gujarat government signed a Memorandum of Understanding (MoU) with Taiwan-based Allegiance International Co Ltd to develop an Indo-Taiwan Industrial Park in the Sanand-Dholera region.
- The project aims to attract over ₹1,000 crore in Foreign Direct Investment (FDI) from Taiwanese industries, specifically in the semiconductor and electronics manufacturing sectors.
- The initiative is expected to generate approximately 12,000 direct jobs over the next five years.
- The MoU was signed between the state's Department of Science and Technology and Allegiance International in the presence of Chief Minister Bhupendra Patel.
- The industrial park is aligned with the India Semiconductor Mission (ISM) to strengthen the production ecosystem for semiconductors, electronics, electric vehicles, robotics, and supply chains.
- The agreement was signed by Simon Lee, Chairman of Allegiance Group and Vice President of the Taiwan Chamber of Commerce in India, and P Bharathi, Secretary of the Science and Technology Department.
- Gujarat is currently developing semiconductor manufacturing projects worth over ₹1.24 lakh crore.
- India and Vietnam elevated collaboration on tribal and ethnic development to the ministerial level through a bilateral meeting in New Delhi on 18 March 2026.
- The meeting was co-chaired by Union Minister for Tribal Affairs, Shri Jual Oram, and Vietnam’s Minister of Ethnic and Religious Affairs, H.E. Dao Ngoc Dung.
- This is the first ministerial engagement exclusively focused on tribal and ethnic development between the two nations.
- The dialogue built on prior discussions led by Smt. Ranjana Chopra, Secretary, Ministry of Tribal Affairs, and H.E. Y Thong, Deputy Minister of Vietnam, on 17 March 2026.
- Key areas explored included rights-based approaches to tribal welfare, community-led development models, institutional mechanisms for cultural preservation, and use of digital platforms for tribal outreach.
- Shri Jual Oram emphasized Vietnam’s pivotal role in India’s Act East Policy and broader Indo-Pacific strategy.
- India’s tribal population exceeds 104 million people (over 8.6% of the population), while Vietnam is home to 54 officially recognized ethnic groups.
- A draft Memorandum of Cooperation (MoC) aimed at institutionalizing bilateral engagement in tribal and ethnic affairs was reviewed; Vietnam confirmed approval on its side.
- Vietnam invited Shri Jual Oram for an official visit to formally sign the MoC.
- The year 2026 marks the 10th anniversary of the India–Vietnam Comprehensive Strategic Partnership.
- The World Bank Group (WBG) and India announced a new Country Partnership Framework (CPF) envisaging USD 8-10 billion in annual financing over the next five years.
- The CPF is aligned with India's Viksit Bharat vision to become a developed economy by 2047 and was discussed between Finance Minister Nirmala Sitharaman and WBG President Ajay Banga.
- The partnership prioritises private sector-led job creation to accommodate the approximately 12 million young people entering India's labour market each year.
- The strategy focuses on five key sectors for job creation: infrastructure and energy, agribusiness, health care, tourism, and value-added manufacturing.
- The framework targets four strategic outcomes: boosting rural prosperity, supporting urban transformation, investing in energy security and core infrastructure, and strengthening resilience.
- India is the largest client of the WBG, with International Bank for Reconstruction and Development (IBRD) commitments of USD 20 billion across 79 projects.
- The International Finance Corporation (IFC) holds commitments of USD 16.72 billion across 174 projects in India.
- The Multilateral Investment Guarantee Agency (MIGA) has provided USD 618 million in guarantees for Indian projects.
Karnataka Menstrual Leave Policy – One Day Paid Leave per Month
[Karnataka, Karnataka High Court]
Key Updates:
- The Karnataka government issued notifications on 12 November 2025 and 20 November 2025 providing women employees with one day of paid menstrual leave each month.
- The Karnataka Menstrual Leave and Hygiene Bill, 2025 proposes monthly paid menstrual leave for women in both government offices and private establishments and a 2 per cent attendance relaxation for girl students in government and private educational institutions.
- The Karnataka High Court directed the state government to ensure effective operationalisation of the menstrual leave policy through suitable guidelines, circulars and administrative instructions across organised and unorganised sectors.
- The petition prompting the court's direction was filed by Chandravva Hanamant Gokavi, a hotel worker from Belgavi.
- The court observed that the policy is intrinsically linked to the realisation of a fundamental right and the constitutional promise of equality.
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- National Safe Motherhood Day is observed annually on 11 April in India.
- The day was first established in 2003 by the White Ribbon Alliance India (WRAI).
- The date honours Kasturba Gandhi's birth anniversary.
- The 2026 observance highlights the need for improved maternal care in underserved rural regions.
- The day advocates collective action to prioritise maternal health and prevent preventable deaths.
- The Supreme Court (SC) ruled that all adoptive mothers are entitled to 12 weeks of maternity leave, regardless of the age of the adopted child.
- A bench comprising Justice J B Pardiwala and Justice R Mahadevan read down Section 60(4) of The Code on Social Security-2020.
- The SC held that the previous provision limiting maternity leave to children adopted below the age of three months violated Articles 14 and 21 of the Constitution of India.
- The court urged the Central Government to introduce provisions recognising paternity leave as a social security benefit.
- The ruling established that maternity protection is a basic human right associated with the process of motherhood rather than just childbirth.
- The judgment stated that adoption is an exercise of reproductive and decisional autonomy under Article 21 of the Constitution of India.
- Maharashtra has established the country’s first dedicated menopause clinics across government hospitals and urban health facilities.
- The initiative was launched on 14 January 2026, on the occasion of Makar Sankranti, under the guidance of the Minister of State for Health Meghna Bordikar.
- The clinics provide expert medical consultation, mental health counselling, and screening for bone, heart, and hormonal health at a single location.
- The programme aims to address physical changes, mental stress, hormonal imbalance, bone-related problems, sleep disorders, and depression in women.
- Maharashtra is the first state in India to introduce such specialised clinics exclusively for women during the menopause phase.
- The Supreme Court (SC) of India recognised access to menstrual health as a fundamental right under Article 21, expanding the constitutional meaning of life and dignity.
- A Bench led by Justices JB Pardiwala and R Mahadevan reframed menstrual health and hygiene as an enforceable constitutional entitlement rather than a matter of welfare or budgetary discretion.
- The ruling mandates all government and private schools to provide free oxo-biodegradable sanitary products to girls in classes 6 to 12.
- Schools are required to ensure access to functional girls’ toilets equipped with covered disposal bins, soap, clean water, and menstrual hygiene management corners.
- The judgement aligns sanitation and dignity with the Right to Education (RTE) under Article 21A and the principle of substantive equality under Article 14.
- The National Council of Educational Research and Training (NCERT) and State Councils of Educational Research and Training (SCERT) are directed to integrate gender-responsive curricula.
- District Education Officers are tasked with conducting annual inspections and collecting anonymous student feedback to monitor ground-level compliance.
- The National Commission for Protection of Child Rights (NCPCR) is designated to provide nationwide oversight for the implementation of these directives.
- Private institutions are subject to the ruling, and non-compliance may result in penalties such as derecognition.
FTA Calendar – India-UK, Oman, New Zealand Agreements Implementation
[United Kingdom, Oman, New Zealand]
Key Updates:
- Commerce Secretary Rajesh Agrawal said the India-UK free trade agreement is expected to come into force by May 2026.
- The India-Oman free trade agreement will take effect from 1 June 2026.
- India is set to sign its free trade agreement with New Zealand on 27 April 2026, with the pact expected to come into force by October 2026.
- Since 2014, India has concluded eight trade agreements, including Mauritius (April 2021), United Arab Emirates (May 2022), Australia (December 2022), Oman (December 2025), United Kingdom (July 2025), European Free Trade Association (October 2025), New Zealand (negotiations concluded December 2025), and European Union (negotiations concluded 27 January 2026).
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- India signed terms of reference with the Philippines for a Preferential Trade Agreement (PTA) and with the Maldives for a Free Trade Agreement (FTA).
- India’s exports to the Philippines rose 3.11 per cent to USD 2.16 billion in 2024-25, while imports dipped 17.8 per cent to USD 1.17 billion.
- India’s exports to the Maldives dipped 37.11 per cent to USD 56.88 million in 2024-25, while imports rose 37.14 per cent to USD 118.82 million.
- The AITIGA Joint Committee has met 11 times; the next review meeting is scheduled for 30-31 March 2026.
- India-Korea CEPA review began in 2016 and has completed 11 negotiation rounds, the latest in Seoul in July 2024.
- India has ongoing trade negotiations with Gulf Cooperation Council (GCC), Canada, Australia, Sri Lanka, Peru, Chile, Eurasian Economic Union (EAEU), and Israel.
- India signed FTAs with the UK and Oman last year and announced completion of negotiations with the EU and New Zealand.
- The Associated Chambers of Commerce and Industry of India (ASSOCHAM) and the Indo Canada Chamber of Commerce (ICCC) signed an MoU on Monday during the India-Canada Business Roundtable held in New Delhi.
- The MoU provides a framework for collaboration to strengthen trade, investment, and economic cooperation between members of both organisations.
- Both organisations will facilitate exchange of information on trade policies, economic laws, and investment opportunities in India and Canada.
- Joint initiatives under the MoU include trade missions, business delegations, exhibitions, seminars, conferences, and workshops.
- Notable attendees included Anil K Agarwal (Past President & Chairman, ASSOCHAM International Council), Kam Rathee (Chair of the Advisory Board, ICCC), Prashant Srivastava (President, ICCC), Kunwar Shekhar Vijendra (Chairman, ASSOCHAM National Council on Education), Ed Jager (Trade Commissioner, High Commission of Canada to India), and Nina Tangri (Associate Minister of Small Business, Government of Ontario).
- India has agreed to allow European Union (EU) banks to open 15 branches over four years under the free trade agreement.
- European banks currently operating in India include Deutsche Bank (Germany), BNP Paribas (France), and Societe Generale (France).
- India has provided 100 per cent foreign direct investment (FDI) commitments in the insurance sector and 74 per cent for banking services.
- The India-EU free trade agreement is expected to be signed and implemented this year.
- The trade pact includes a bilateral safeguard mechanism allowing India to raise duty to most favoured nation (MFN) level if imports from the EU surge due to tariff liberalisation.
- Bilateral safeguard measures under the mechanism cannot exceed four years, with an initial two-year period extendable by another two years upon review.
- India has taken carve-outs for national security and reserved policy space in sectors like legal services.
- The agreement includes an insufficient production clause specifying that packaging, labelling, minor assembly, or peeling do not confer origin status.
- India has no obligation under the Intellectual Property Chapter to change or modify any of its intellectual property laws.
- The trade deal mandates a general review by the joint committee within five years of entry into force and every five years thereafter.
- India and Israel began the first round of negotiations for a proposed Free Trade Agreement (FTA) in New Delhi from 23 to 26 February 2026.
- The talks follow the signing of the Terms of Reference (ToR) in November 2025 to formalise bilateral trade and economic cooperation.
- Technical teams are discussing trade in goods and services, rules of origin, sanitary and phytosanitary measures, technical barriers to trade, customs procedures, trade facilitation and intellectual property rights.
- Commerce Secretary Rajesh Agrawal stated the negotiations coincide with Prime Minister Narendra Modi’s visit to Israel on 25–26 February 2026.
- India’s Chief Negotiator is Ajay Bhadoo, Additional Secretary in the Department of Commerce; Israel’s Chief Negotiator is Yifat Alon Perel, Senior Director (Trade Policy and Agreements).
- Bilateral merchandise trade between India and Israel was USD 3.62 billion in FY 2024–25, traditionally dominated by diamonds, petroleum products and chemicals.
- The two countries had earlier held eight rounds of talks for a similar agreement, with the last round in October 2021, before negotiations stalled.
Delhi-Dehradun Expressway – ₹12,000-crore Highway Reduces Travel Time
[Uttarakhand, Uttar Pradesh]
Key Updates:
- Prime Minister Narendra Modi inaugurated the six-lane Delhi-Dehradun Expressway on 14 April 2026.
- The expressway is a 213-km access‑controlled corridor costing ₹12,000 crore.
- Travel time between Delhi and Dehradun is expected to fall from five‑six hours to about 2‑2.5 hours.
- The corridor links the Uttar Pradesh towns of Baghpat, Baraut, Shamli and Saharanpur before reaching Dehradun.
- It will integrate with the Delhi‑Mumbai, Delhi‑Katra and Delhi‑Meerut expressways.
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- PM Modi will visit Gujarat on 31 March to inaugurate or lay foundation stone of developmental projects worth around Rs 19,000 crore in Vav-Tharad district.
- Vav-Tharad became Gujarat’s 34th district after being carved out of Banaskantha district in September 2025.
- The public event will be held at Nani village near Deesa at Air Force Station.
- Projects cover railways, power, defence, urban development and belong to both state and central governments.
- CM Bhupendra Patel, Deputy CM Harsh Sanghavi and concerned Union ministers will accompany PM Modi.
- PM Modi will perform bhoomi poojan of Assam Mala 3.0 road projects worth over ₹3,200 crore in Kokrajhar district.
- Under Assam Mala 3.0 more than 900 kilometres of roads will be constructed across Assam.
- Modi will release the 22nd instalment of PM-KISAN scheme to over 9.3 crore farmers from Guwahati.
- Eligible farmers receive ₹2,000 directly into their bank accounts under PM-KISAN.
- Prime Minister Narendra Modi launched multiple development projects worth approximately ₹16,450 crore across Kerala and Tamil Nadu on 11 March.
- In Kerala, projects worth about ₹10,800 crore were launched, including the foundation stone for a Polypropylene Unit at the Kochi Refinery of Bharat Petroleum Corporation Limited (BPCL) costing over ₹5,500 crore.
- The Polypropylene Unit at the BPCL Kochi Refinery will have a production capacity of 400 kilo tonnes per annum to boost domestic polymer manufacturing.
- The Prime Minister inaugurated the six-laning of the Thalapady-Chengala section of National Highway (NH) 66 (₹2,650 crore) and the Kozhikode Bypass from Vengalam to Ramanattukara (₹2,140 crore).
- Under the Amrit Bharat Station Scheme (ABSS), three redeveloped railway stations were inaugurated in Kerala: Shoranur Junction, Kuttippuram Railway Station, and Changanassery Railway Station.
- The Prime Minister dedicated the Shoranur-Nilambur Road railway line electrification and flagged off a new train service between Palakkad and Pollachi.
- A 50 MW floating solar project foundation stone was laid at West Kallada in Kollam district, Kerala, to enhance renewable energy capacity.
- In Tamil Nadu, projects worth ₹5,650 crore were launched, including a City Gas Distribution (CGD) Network by BPCL in The Nilgiris and Erode districts with an investment of over ₹3,680 crore.
- A Lube Blending Plant with a capacity of 672 thousand metric tonnes per annum, developed by Indian Oil Corporation Limited (IOCL) at Manali for ₹1,490 crore, was dedicated to the nation.
- Under the Pradhan Mantri Gram Sadak Yojana (PMGSY), 23 rural roads in Kerala and 89 rural roads covering 370 kilometres in Tamil Nadu were inaugurated.
- The Prime Minister flagged off two Amrit Bharat Express trains, two express trains, and a passenger train service to improve connectivity between Tamil Nadu and states like Telangana, Karnataka, and Kerala.
- The foundation stone was laid for a greenfield bypass near Gangaikonda Cholapuram on National Highway 81 in Tamil Nadu.
- Prime Minister Narendra Modi visited Dera Sach Khand Ballan, the spiritual headquarters of the Ravidassia community, in Jalandhar on 1 February 2026.
- The Ravidassia community and other backward classes comprise approximately one-third of the total population of Punjab.
- The visit is highlighted as a symbol of the fulfilment of the vision of Babasaheb Dr Bhimrao Ambedkar for a society providing equal opportunities for backward classes.
- Satnam Singh Sandhu, a Member of Parliament (MP) in the Rajya Sabha, described the outreach as a boost to social inclusion and investment sentiment in the border state.
Startup India Fund of Funds 2.0 (FoF 2.0) – Rs 10,000 crore
[Ministry of Commerce and Industry]
Key Updates:
- The Ministry of Commerce and Industry (MOCI) notified the Startup India Fund of Funds 2.0 (FoF 2.0) with an outlay of Rs 10,000 crore.
- The scheme aims to mobilise venture and growth capital for deep‑tech startups, early‑growth‑stage companies and technology‑driven manufacturing enterprises.
- The corpus will be contributed to SEBI‑registered alternative investment funds (AIFs) for investing in equity and equity‑linked instruments of entities recognised as startups by the central government.
- The Department for Promotion of Industry and Internal Trade (DPIIT) will issue operational guidelines and a committee chaired by the DPIIT secretary will monitor implementation.
Similar Coverage
- The Union Cabinet approved the second edition of the Startup India Fund of Funds (FoF) with Rs. 10,000 crore (US$ 1.2 billion).
- The FoF aims to provide patient capital to deep technology companies, technology-driven innovative manufacturing ventures, and early-stage growth enterprises.
- The scheme adopts a sectoral and stage-focused investment approach to improve efficient capital deployment across business stages.
- Startup India initiative, launched in 2016, has increased recognised startups from a few hundred to over 2 lakh.
- The Fund expects to catalyse private investments, create jobs, and support India’s position as a global innovation hub.
- Department for Promotion of Industry and Internal Trade (DPIIT) signed an MoU with Blue Star Limited on 24 March 2026.
- The partnership targets startups, innovators, and entrepreneurs in HVAC technologies, digital solutions, advanced manufacturing, and supply chain innovation.
- Startups will gain access to industry mentorship, R&D facilities, testing infrastructure, and pilot opportunities.
- The initiative supports proof-of-concept development and integration into existing industry value chains.
- DPIIT and Blue Star will organise innovation challenges and hackathons under the Bharat Startup Grand Challenge focused on manufacturing, HVAC, and digital technologies.
- The MoU was signed by T. L. K. Singh, Deputy Secretary, DPIIT, and B Thiagarajan, Managing Director, Blue Star Limited.
- Global Finance & Technology Network (GFTN) and Startup Policy Forum (SPF) signed an MoU at Black Swan Summit India 2026 in Bhubaneswar, Odisha.
- GFTN is a Singapore-headquartered platform established by the Monetary Authority of Singapore (MAS) and spans more than 130 countries.
- SPF represents over 65 high-growth Indian startups collectively valued at more than USD 100 billion.
- The collaboration focuses on strengthening global-India innovation corridors, enabling structured policy dialogue, and supporting international expansion of Indian startups.
- Priority areas include digital finance infrastructure, responsible AI, digital assets, cross-border payments, and regulatory innovation.
- GFTN is chaired by Ravi Menon, former Managing Director of MAS.
- SPF works closely with DPIIT, the MeitY Startup Hub, and the IndiaAI Mission.
- The Department for Promotion of Industry and Internal Trade (DPIIT) notified revised startup recognition criteria on 5 February 2026.
- General startup turnover limit raised from ₹100 crore to ₹200 crore.
- New 'Deep Tech Startup' sub-category introduced with age limit extended to 20 years and turnover cap of ₹300 crore.
- Multi-State Cooperative Societies registered under the Multi-State Cooperative Societies Act, 2002 and cooperative societies under State/UT Acts now eligible for startup recognition.
National Career Service (NCS) Portal – Creation of 30 Lakh Jobs by 2030
[Ministry of Labour and Employment, Porter]
Key Updates:
- The Ministry of Labour & Employment (MoLE) signed MoUs with Porter and Gigin Technologies on 13 April 2026 to expand employment opportunities through the NCS portal.
- Over 7 lakh vacancies are currently active on the NCS portal and nearly 59 lakh establishments have registered.
- The NCS portal has registered over 6 crore jobseekers and mobilised more than 9 crore vacancies since its inception.
- Porter aims to generate approximately 6 lakh logistics and driving opportunities annually via NCS and around 30 lakh opportunities by 2030.
- Gigin Technologies aims to create at least 2–3 lakh verified job opportunities annually with over 1.5 lakh employer engagements through NCS.
- The collaborations are expected to mobilise nearly 10 lakh job opportunities annually for youth.
- Budget outlay: Not specified in the article.
- Launch date of the MoUs: 13 April 2026.
- Target beneficiaries are youth and jobseekers registered on the NCS portal.
Similar Coverage
- Department for Promotion of Industry and Internal Trade (DPIIT) signed an MoU with KRAFTON India Pvt Ltd on 26 March 2026 in New Delhi.
- The collaboration will organise innovation challenges under the Bharat Startup Grand Challenge and targeted hackathons, workshops, and masterclasses in game design, animation, immersive technologies, esports management, and AI applications.
- Selected startups may gain pilot collaboration opportunities and further engagement based on outcomes.
- Startups will receive mentorship, industry insights, knowledge exchange platforms, and curated engagement opportunities.
- The partnership will facilitate Proof-of-Concept development, market access, and integration into industry ecosystems.
- The MoU was signed by Deputy Secretary, DPIIT, T L K Singh and Head of Government Relations, KRAFTON India Pvt Ltd, Vibhor Kukreti.
- The National Council for Cement and Building Materials (NCB) signed a Memorandum of Understanding with UltraTech Cement Limited to strengthen skill development and capacity building in the construction sector.
- The partnership will enhance skills of civil engineers, ready-mix concrete professionals, contractors, construction workers, and masons through structured training and certification programs across the country.
- Training areas include material quality testing, concrete mix proportioning, durability, and sustainable construction practices.
- The initiative aims to develop a skilled workforce for the country’s growing infrastructure and housing sectors.
- Dr. L. P. Singh, Director General of NCB, and Er. Rahul Goel, Head Technical Services of UltraTech Cement Limited, attended the signing at NCB, Ballabgarh.
- Dr. Singh expects a large number of professionals and workers to be trained over the next three to five years under this initiative.
- Bharat Electronics Limited (BEL) signed an MoU with SASMOS HET Technologies Limited to strengthen indigenous defence manufacturing capabilities.
- The MoU was exchanged between BEL chairman and managing director Manoj Jain and SASMOS chairman and managing director H G Chandrashekar in the presence of Defence Minister Rajnath Singh.
- The collaboration will focus on localising critical components, increasing domestic value addition and strengthening production capabilities as well as exports.
- The MoU covers high-reliability photonics and fibre optic systems, avionics and mission-critical electronic systems, aerospace-grade interconnect solutions, electro-mechanical assemblies and sub-systems for airborne, naval and land-based platforms.
- The partnership aligns with the government’s Atmanirbhar Bharat and Viksit Bharat initiatives aimed at strengthening domestic manufacturing and defence supply chains.
- BEL shares ended trading 2% higher at ₹469.60 on the NSE and have given a YTD return of 18%.
- GeM and MVIRDC World Trade Centre Mumbai signed an MoU to foster domestic and international collaboration in public procurement.
- The MoU aims to enhance GeM’s global positioning, promote knowledge exchange, and drive inclusive participation for MSMEs, startups, women entrepreneurs, and underrepresented suppliers.
- Joint initiatives include global procurement dialogues, capacity-building programs, supplier outreach, and research on AI in procurement, sustainability, and green practices.
- A Joint Working Group will oversee implementation, ensuring alignment with Government of India policies on public procurement, data security, and inclusivity.
India and United States seal technical pact on fighter jet engine coproduction
[Hindustan Aeronautics Limited (HAL), GE Aerospace]
Key Updates:
- GE Aerospace and Hindustan Aeronautics Ltd (HAL) have reached an agreement on technical matters for coproduction of fighter jet engines.
- The agreement covers transfer of manufacturing technology for the F414 engine, with GE Aerospace owning about 80% of the engine's intellectual property rights.
- A contract has been signed for the Indian Air Force (IAF) to set up a depot facility for F404 engines that power the Light Combat Aircraft (LCA).
- The sixth F404 engine has arrived in India, and GE Aerospace is focusing on timely deliveries while maintaining safety and quality standards.
- Under the deal, 99 engines will be manufactured in India to power the Mk2 variant of the Light Combat Aircraft (LCA).
- The Indian Air Force (IAF) projects a demand for 120‑130 Tejas Mk2 fighters, which could increase the engine order beyond 99 units.
- The first two squadrons of the Advanced Medium Combat Aircraft (AMCA) are expected to be powered by the same engine.
- GE Aerospace is interested in discussions with India to develop higher thrust engines of the 120 kN class for next‑generation fighter jets.
- The final contract signing is expected in the current financial year, with HAL planning to set up a manufacturing facility in India within two years of signing.
- The partnership between GE Aerospace and HAL spans 40 years, and the technical agreement is described as a landmark step for economic growth and national security.
Similar Coverage
- Bharat Electronics Limited (BEL) signed an MoU with SASMOS HET Technologies Limited to strengthen indigenous defence manufacturing capabilities.
- The MoU was exchanged between BEL chairman and managing director Manoj Jain and SASMOS chairman and managing director H G Chandrashekar in the presence of Defence Minister Rajnath Singh.
- The collaboration will focus on localising critical components, increasing domestic value addition and strengthening production capabilities as well as exports.
- The MoU covers high-reliability photonics and fibre optic systems, avionics and mission-critical electronic systems, aerospace-grade interconnect solutions, electro-mechanical assemblies and sub-systems for airborne, naval and land-based platforms.
- The partnership aligns with the government’s Atmanirbhar Bharat and Viksit Bharat initiatives aimed at strengthening domestic manufacturing and defence supply chains.
- BEL shares ended trading 2% higher at ₹469.60 on the NSE and have given a YTD return of 18%.
- Dassault Aviation awarded a long-term contract to Bengaluru-based Hical Technologies for manufacturing mission-critical products for Rafale fighter aircraft control systems.
- Hical Technologies will deliver products meeting Dassault Aviation's stringent engineering, qualification and reliability standards.
- The contract comes as India nears finalisation of a deal for 114 Dassault Rafale jets worth over Rs 3.25 lakh crore.
- Hical's inclusion positions India as a strategic contributor to the Rafale platform and the global aerospace and defence value chain.
- Adani Group and Leonardo signed a Memorandum of Understanding in New Delhi to establish an integrated helicopter manufacturing ecosystem in India.
- The partnership targets Indian Armed Forces' requirements for Leonardo's AW169M and AW109 TrekkerM helicopters.
- The collaboration will deliver phased indigenization, maintenance, repair, and overhaul capabilities, and comprehensive pilot training.
- Indian Armed Forces project demand for over 1,000 helicopters in the coming decade.
- India has a helicopter penetration density of less than 250 helicopters for the country's population and will need around 100 helicopters annually for the next 10 years.
- The announcement follows Adani Defence & Aerospace and Embraer's strategic collaboration to set up a regional aircraft manufacturing facility in India.
- India and the European Union (EU) signed a working arrangement in the field of industrial aviation production on 23 March 2026.
- The agreement between the European Union Aviation Safety Agency (EASA) and the Directorate General of Civil Aviation (DGCA) aims to align manufacturing with global safety standards.
- The arrangement facilitates the assembly of Airbus Helicopters H125/AS350 helicopters in Karnataka under the Make in India initiative.
- Civil aviation safety was identified as a priority area under the Strategic Joint Agenda during the EU-India Summit in January 2026.
- A regional workshop was conducted in New Delhi from 24 to 26 March 2026 under the EU-South Asia Aviation Partnership Programme.
- The workshop was organised by EASA in partnership with DGCA and supported by the European aircraft manufacturer ATR.
United States' GE Aerospace to establish F404-IN20 engine depot for Indian Air Force
[United States, General Electric (GE) Aerospace, Indian Air Force]
Key Updates:
- GE Aerospace announced a contract with the Indian Air Force (IAF) to set up an in-country depot for F404-IN20 engines that power the IAF’s Light Combat Aircraft Tejas fleet.
- The depot will be owned, operated and maintained by the IAF, while GE Aerospace will supply technical inputs, training, support staff, spares and specialised equipment.
- The facility is expected to remove dependence on overseas repair centres and significantly improve engine turnaround times.
- The collaboration marks the next step in a four-decade-long partnership between GE Aerospace and the IAF.
- Rita Flaherty, Vice President of Sales and Business Development for Defence and Systems at GE Aerospace, said the company is committed to supporting India’s armed forces.
- GE Aerospace also provides engines for the Indian Navy’s P-8I maritime patrol aircraft, MH-60R helicopters, the IAF’s AH-64 Apache helicopters and LM2500 marine gas turbines for the INS Vikrant aircraft carrier and P-17 Shivalik-class frigates.
- Over the past ten years, GE Aerospace’s skilling initiatives have trained more than 5,000 people with core manufacturing skills at its Pune factory.
- The company’s local two-year Edison Engineering Development Program has graduated 150 engineers.
- In September 2025, the GE Aerospace Foundation, in partnership with United Way, launched the Next Engineers programme in Bengaluru to support 4,000 engineering aspirants.
- GE Aerospace has approximately 1,400 engines in service with major Indian airlines and a Pune manufacturing facility with 13 local Indian partners.
- The India Technology Centre in Bengaluru, operating for 25 years, develops aviation technologies for both commercial and military applications.
- GE Aerospace’s global installed base comprises about 50,000 commercial and 30,000 military aircraft engines and employs roughly 57,000 people worldwide.
Similar Coverage
- India’s first private sector helicopter Final Assembly Line (FAL) was inaugurated at Vemagal in the Kolar district of Karnataka.
- The facility is a partnership between Tata Advanced Systems (TASL) and the European aerospace major Airbus to manufacture H125 helicopters.
- Prime Minister Narendra Modi and French President Emmanuel Macron virtually inaugurated the facility, which was originally announced during the 2024 Republic Day celebrations.
- The plant will produce the civilian H125 helicopter and the military H125M version, which is intended to succeed the Cheetah and Chetak helicopters used by the Indian armed forces.
- The facility has an initial annual production capacity of 10 helicopters, with the first made-in-India delivery expected in early 2027.
- Helicopters manufactured at the Vemagal site will be compliant with standards set by the European Union Aviation Safety Agency (EASA).
- Tata Advanced Systems (TASL) and Airbus also operate a separate FAL for the C295 military transport aircraft in Vadodara, Gujarat.
- The project aims to serve the Indian market and the broader South Asia region, including Nepal, Bhutan, Bangladesh, Sri Lanka, and the Maldives.
- The H125M variant is designed for high-altitude logistics, tactical reconnaissance, surveillance, and medical evacuation operations.
- The collaboration builds on a 60-year industrial relationship between Airbus and the government undertaking Hindustan Aeronautics (HAL).
- Embraer and Mahindra Group announced plans to develop Maintenance, Repair, and Overhaul (MRO) capabilities in India for the C-390 Millennium aircraft.
- The MRO facility is contingent on the C-390 Millennium's selection for the Indian Air Force's Medium Transport Aircraft (MTA) program.
- The collaboration builds on a strategic partnership formed in October 2025 to produce the C-390 Millennium in India.
- The initiative supports the Indian Air Force's MTA program and aligns with the 'Make in India' initiative.
- The MRO facility will provide base and heavy maintenance, structural inspections, component overhaul, avionics support, and training.
- Embraer is exploring India as a regional MRO hub for other C-390 operators.
- The C-390 Millennium has a payload capacity of up to 26 tons and a mission completion rate above 99%.
- Embraer has nearly 50 aircraft of 11 types operating in India across commercial, defense, and business aviation.
- Adani Group and Leonardo signed a Memorandum of Understanding in New Delhi to establish an integrated helicopter manufacturing ecosystem in India.
- The partnership targets Indian Armed Forces' requirements for Leonardo's AW169M and AW109 TrekkerM helicopters.
- The collaboration will deliver phased indigenization, maintenance, repair, and overhaul capabilities, and comprehensive pilot training.
- Indian Armed Forces project demand for over 1,000 helicopters in the coming decade.
- India has a helicopter penetration density of less than 250 helicopters for the country's population and will need around 100 helicopters annually for the next 10 years.
- The announcement follows Adani Defence & Aerospace and Embraer's strategic collaboration to set up a regional aircraft manufacturing facility in India.
- Director General of the Indian Coast Guard (ICG), DG Paramesh Sivamani, inaugurated the Waterjet Production and Testing Facility of Marine Jet Power (MJP) India in Goa.
- India has become the third country globally, after the United States and South Korea, to host such a specialised production and testing capability.
- The facility was commissioned under a Manufacturing and Transfer of Technology (ToT) framework to establish a domestic supply chain for waterjet propulsion systems.
- The ICG currently operates over 100 MJP waterjet propulsion systems across its fleet, with 42 additional systems planned for ships under construction.
- The new facility will serve as a regional hub for South Asia and adjoining regions while enhancing indigenous repair and overhaul capabilities.
- DG ICG reviewed the progress of six indigenously built Air Cushion Vehicles (ACVs) at Chowgule and Company Private Limited.
- The ACV project is India’s first indigenous programme of its kind, featuring approximately 50 per cent indigenous content with the first delivery scheduled for May 2026.
Mumbai Cricket Association (MCA) to introduce player contract system from 2026-27 season
[Mumbai Cricket Association (MCA)]
Key Updates:
- MCA decided to implement annual contracts for its players effective from the 2026-2027 domestic season.
- The contract system will have three grades – A, B and C – with remuneration based on grade.
- Grade A players will be paid between 12 lakh and 20 lakh rupees per annum.
- Grade B players will be paid between 8 lakh and 12 lakh rupees per annum.
- Grade C players will receive 8 lakh rupees per annum.
- The proposal was passed during the recent Apex Council meeting of MCA.
- MCA President Ajinkya Naik stated that the contract system will provide stability to players who do not feature in the IPL.
- Eligibility criteria include registration with MCA, meeting minimum fitness standards, not having represented India in any format in the past two seasons, not being selected by an IPL team in the past two seasons, and recommendation by the selection committee.
- In 2024, MCA decided to match the Board of Control for Cricket in India (BCCI) match fees for Ranji Trophy cricketers, which range from Rs 40,000 to Rs 60,000 per day depending on the number of games played.
Similar Coverage
- The Ministry of Corporate Affairs (MCA) has relaxed CSR obligation requirement for companies to join the PM Internship Scheme.
- New-age sectors like semiconductors, renewable energy and global capability centres are now eligible under the scheme.
- The monthly stipend has been raised to ₹9,000 from ₹5,000.
- Minimum age for candidates lowered to 18 years and maximum age raised to 25 years.
- Postgraduates and MBAs are now eligible to apply.
- Internship duration revised to 6 and 9 months instead of one year.
- Third phase targets about 100,000 internships with over 15,500 offers across 19 sectors and 32 states.
- Allocation for current fiscal sharply cut to ₹526 crore in revised estimate from ₹10,831 crore budgeted earlier.
- Maharashtra State Road Transport Corporation (MSRTC) launched the NCMC smart card for digital ticketing and concession access.
- The launch was inaugurated by Chief Minister Devendra Fadnavis in the presence of Deputy Chief Ministers Eknath Shinde and Sunetra Pawar.
- NCMC smart cards linked to Aadhaar will be issued to students, senior citizens, divyang persons with disabilities, women, and other concession holders.
- Registration and distribution of the cards will be carried out at all depots and bus stations across Maharashtra, with around 3,000 authorised centres facilitating the process.
- Passengers can use the cards for wallet-based payments, with a minimum top-up of Rs 100.
- Recharge options will be available through ETIM machines on buses, the official website, mobile app, and authorised agents.
- The cost of the NCMC smart card has been fixed at Rs 199.
- Indian Oil Corporation Limited (IOCL) signed an MoU with the Uttar Pradesh government to provide Rs 60 crore for constructing an international cricket stadium in Gorakhpur.
- The MoU was signed in the presence of Chief Minister Yogi Adityanath.
- The proposed stadium will have a seating capacity of 30,000 spectators and will be developed fully in line with international standards.
- The project is targeted for completion by December 2027.
- The Board of Control for Cricket in India (BCCI) has inked a Rs 270 crore sponsorship deal with Google's AI platform Gemini.
- The three-year partnership will begin with the 2026 Indian Premier League.
- Gemini's rival ChatGPT is already a sponsor of the ongoing Women's Premier League.