Competition approval for a biosimilars portfolio transfer and concurrent equity infusion enabling the proposed corporate combination.
The Competition Commission of India approved a cross-border combination where Viatris will sell its global biosimilars portfolio to Biocon Biologics for cash and stock, and Mylan will take equity and convertible preference shares in Biocon Biologics as part consideration, modifying the target's ownership structure; detailed regulatory order to follow.

Regulatory approval of acquisition: foreign investment vehicle cleared to take a minority stake in an Indian wealth manager.
The Competition Commission approved BC Asia Investments X Limited's acquisition of up to 24.98% of IIFL Wealth Management Limited. BC Asia is a Mauritius investment holding company indirectly held by funds linked to private equity, credit investment strategies and a pension fund investor. The target provides tailored wealth management services to high-net-worth and institutional clients in India. The notification concerns a minority share acquisition and a detailed CCI order will follow.

Competition approval of corporate restructuring enables transfer of consumer healthcare assets into a new ownership structure.
The Competition Commission approved the acquisition arising from a corporate restructuring of GlaxoSmithKline Consumer Healthcare Holdings (No.2) Limited under Section 31(1) of the Competition Act, 2002, implemented via a demerger and share exchange that will transfer consumer healthcare interests into newly incorporated Haleon, allocating post-transaction voting rights between GSK and related parties and Pfizer; JVCO (established in 2019) operates in manufacture and distribution of OTC consumer healthcare products, while Haleon presently has no business activities.

WPI inflation rise signals broad-based price pressures across fuel, food and manufactured goods, meriting continued monitoring.
Wholesale Price Index (WPI) inflation for May 2022 is reported at an elevated annual rate driven by price increases in mineral oils, crude petroleum & natural gas, food articles, basic metals, chemicals and non-food articles. The press release explains provisional WPI publication with finalization after ten weeks, notes compilation sources and weighted response rates, and highlights that provisional figures are subject to revision under the WPI revision policy.

Special and Differential Treatment must be preserved to prevent WTO reforms from disadvantaging developing countries.
The statement warns that proposed WTO reforms could skew institutional architecture against developing countries and insists on preserving Special and Differential Treatment and consensus decisionmaking. It urges settlement of a Permanent Solution for Public Stockholding to protect food security for the poor, highlights vaccine inequity exposed by COVID, and demands that any Fisheries Subsidies agreement protect traditional fishermen's livelihoods while aligning trade policy with sustainable development and sensitivity to vulnerable populations.

Rules-based multilateral trading system essential for trade revival; reforms must protect inclusivity, non-discrimination and special treatment.
Strong commitment to a rules-based multilateral trading system is essential for trade revival; WTO reform must reinforce consensus decision-making, inclusivity, non-discrimination and the continued relevance of special and differential treatment. Members should build trust, deliver the mandated decision on public stockholding for food security, and secure a fair outcome in fisheries subsidy negotiations consistent with the Polluter Pays and Common but Differentiated Responsibility principles.

PM Gati Shakti masterplan to improve national logistics efficiency and support economic growth through integrated transport modes and reduced delays.
PM Gati Shakti masterplan establishes an integrated infrastructure and logistics policy coordinating seven transport engines to improve logistics efficiency, backed by a multi-year allocation. Implementation focuses on reducing transportation and inventory costs, eliminating time and cost overruns, and uses a digital platform integrating 600 layers of central, state and ministerial entities for gap identification and priority resolution. Industry collaboration is solicited to streamline delivery and lower national logistics costs to boost export competitiveness and supply chain position.

Cartel enforcement: CCI finds bid rigging in railways tenders, imposes penalties and directs cease-and-desist to firms.
The Competition Commission of India addressed cartelisation and bid rigging in supply of Protective Tubes to Indian Railways under Sections 3(1) and 3(3) of the Competition Act, 2002, initiated on a lesser penalty application under Section 46. Seven firms were found to have coordinated prices, allocated tenders, controlled supply and manipulated bidding, with e-mail exchanges and common IP addresses identified as evidence. Ten individuals were held liable under Section 48. Penalties based on average turnover were imposed with reduction for the leniency applicant, and a cease-and-desist direction was issued.

Mandate for Network Planning Group review accelerates integrated logistics planning via national portals and cargo terminals
The Network Planning Group coordinated integrated logistics planning across eight infrastructure ministries, endorsing integration of the GatiShakti Sanchar portal into the National Master Plan and requiring periodic engagement with BISAG N and regular project updates. The Ministry of Railways will develop cargo terminals with improved road and port connectivity and circulate identification, timelines and mapping for cross departmental coordination. The Ministry of Finance's guidance mandates the examination of logistics and connectivity projects by the Network Planning Group, reinforcing its role in consolidated decision making and synchronized implementation via the National Master Plan portal.

Infrastructure-led investment initiative PM Gati Shakti urged as catalyst for industrial setup and seamless business facilitation.
PM Gati Shakti is promoted as an infrastructure-led investment initiative to catalyse industrial establishment and streamline business processes; the Union Minister urged investors to leverage its integrated planning and connectivity advantages to make business more seamless and affordable. The release also emphasises regional expansion aims, including a proposal to extend the Bengaluru-Kochi industrial corridor and a state objective to promote large-scale enterprise creation.

Abuse of dominance in sports governance found, prompting a cease-and-desist directive to stop exclusionary communications.
The Commission found a national baseball federation dominant in the market for organisation of baseball leagues, events and tournaments and held that a communication directing affiliated state associations not to engage with unrecognised bodies amounted to exclusionary conduct in breach of prohibitions on abuse of dominance; a cease-and-desist direction was issued and no monetary penalty was imposed after the federation withdrew the communication and the regulator considered the market correction achieved.

Premium revision for social insurance schemes to restore insurer viability and encourage broader participation and coverage expansion.
Premium rates for PMJJBY and PMSBY were revised w.e.f. 1 June 2022 to address sustained adverse claims experience and insurer losses; the adjustment standardises premiums to a revised daily rate to restore economic viability for implementing insurers, encourage wider insurer participation, and support continued DBT transmission of claims to beneficiaries, while forming part of a policy drive to expand subscriber coverage among underserved populations.

Investment Incentive Agreement expands development finance support, enabling DFC tools and continued facilitation of investment projects in partner jurisdiction.
The Investment Incentive Agreement supersedes the 1997 arrangement and establishes the legal basis for the successor development finance agency to provide investment support, specifying permitted instruments-debt, equity, guaranty, insurance or reinsurance, feasibility studies and grants-and thereby enabling continued and expanded development-oriented financing across sectors such as vaccine manufacturing, healthcare, renewable energy, SME finance, financial inclusion and infrastructure.

Excise duty cut lowers petrol and diesel retail tax incidence and prices, with call for state VAT reductions to deepen relief.
The government reduced central excise duty on petrol and diesel, lowering central tax incidence and retail pump prices after accounting for other levies and state VAT. State-level VAT differences continue to produce price variation. State-owned retailers passed on the cut despite squeezed margins. Concurrently, a direct cash LPG subsidy for eligible Ujjwala beneficiaries was announced, with the Finance Ministry urging states to cut local sales tax or VAT to extend relief.

International economic diplomacy: India to present a unified investment and reform agenda at a global forum; FTA talks follow.
Shri Piyush Goyal will lead a unified India delegation to the World Economic Forum in Davos to project India as an investment destination and stakeholder in global economic discussions, using India and State Lounges to showcase policy reforms, energy transition, digital economy, National Monetization Pipeline opportunities, entrepreneurship, talent development, and healthcare innovation. A pre-departure briefing endorsed a common India-first strategy. Post-Davos, the minister will visit the United Kingdom to advance Free Trade Agreement negotiations and discuss the timeline for their conclusion.

Foreign direct investment inflow growth signals record annual investment and increased manufacturing equity participation nationwide.
India recorded a record annual FDI inflow of USD 83.57 billion in FY 2021 22, with a 76% rise in FDI equity into Manufacturing. The Computer Software and Hardware sector received about one quarter of equity inflow, while Karnataka was the top recipient state. The release links this performance to ongoing liberalisation and a largely automatic route FDI policy, alongside recent reforms across multiple sectors to enhance ease of doing business and attract investment.

Merger clearance: approval of OFB Tech's acquisition of majority stake in SMW Ispat, enabling change of control.
The proposed combination entails OFB Tech Private Limited acquiring a majority stake in SMW Ispat Private Limited, effecting a change of control; OFB Tech is a wholesale trader in bulk raw materials and SMW Ispat manufactures steel products. The transaction has received competition approval and a detailed order will follow.

Merger by absorption approved: consideration includes acquisition of an equity stake in the target company.
CCI approves a merger by absorption in which Covidshield Technologies Private Limited, a wholly owned subsidiary of Serum Institute Life Sciences, will be merged into Biocon Biologics Limited, and the Acquirer will receive an equity stake in the Target on a fully diluted basis; detailed order to follow.

Infrastructure planning via interoperable GIS and APIs enables coordinated, data-driven project implementation and collaborative regulation.
The PM GatiShakti National Master Plan is presented as a technology-led framework using nearly 400 GIS-based maps and interoperable APIs to enable integrated, time bound infrastructure planning across government, reduce duplication, and revive stalled projects through data-driven interagency coordination; complementary regulatory measures emphasise collaborative regulations and RegTech platforms to facilitate co-creation and sharing of telecom and digital infrastructure while advancing digital inclusion through interoperable identity and mobile access.

Board empowerment to recommend disinvestment and closure enables parent public enterprises to pursue transactions with in-principle approval.
Boards of holding/parent public sector enterprises are authorized to recommend and undertake disinvestment (strategic and minority stake sales) or closure of subsidiaries, units, or JV stakes, subject to open, competitive-bidding processes and guiding principles; an Alternative Mechanism may grant in-principle approval and review the parent PSEs' processes, with DIPAM and DPE issuing the respective guiding principles.