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    TN surpasses Gujarat, Maharashtra to become India's top textile exporter
    HDFC Life Reaffirms Strong Corporate Governance Track Record with IiAS Leadership Recognition in Corporate Governance Scorecard for 2025
    CCI approves additional shareholding acquisition in Baby Memorial Hospital (BMH) by Bentley Asia; and BMH’s subsequent acquisition of certain shareh...
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March 19, 2026
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Textile export leadership shifts as Tamil Nadu becomes nation's top textile exporter, surpassing Gujarat and Maharashtra.
Tamil Nadu has become India's leading state in textile exports for fiscal 2024-25, surpassing Gujarat and Maharashtra, according to national import-export data compiled on a centralised trade-data platform; the state's rise is attributed to coordinated departmental schemes and planned policy measures driving multifaceted growth in the textile sector.
March 19, 2026
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Corporate governance recognition: HDFC Life placed in Leadership category under national scorecard, reaffirming transparency and accountability.
Recognition under the Indian Corporate Governance Scorecard placed HDFC Life in the Leadership category for scoring 75 and above as of 31 December 2025, reflecting the company's commitment to transparency, accountability, and governance practices treated as an organisational value rather than mere compliance within a widely used benchmarking framework.
March 19, 2026
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Merger approval: competition regulator clears Bentley's stake increase in Baby Memorial and BMH's secondary purchase in Unimed.
The Competition Commission approved a two-step Proposed Combination: Bentley Asia will acquire additional shareholding in Baby Memorial Hospital Limited, and BMH will thereafter acquire certain shareholding in Unimed Health Care Private Limited by way of a secondary purchase; the parties include a Singapore investor (Bentley), a multi-specialty hospital network (BMH), and Unimed operating Star Hospitals, with a detailed order to follow.
March 19, 2026
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Women farmer empowerment via month-wise awareness, workshops and crop insurance outreach under a corporate Krishi Sakhi initiative.
AIC launched the Krishi Sakhi Initiative to promote women farmer empowerment and inclusive participation in agriculture and crop insurance through sustained month-wise activities. Operative measures include an introductory awareness video, a staff Walkathon to symbolize support, ground-level workshops and awareness programs on crop insurance benefits, publication of related articles and interviews, and targeted sanitation and hygiene campaigns in rural areas to recognize and engage women farmers.
March 19, 2026
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GST Council authority over tax rates affirmed; no unilateral state proposal to impose heavy tax on online shopping.
The Chief Minister denied evidence of small-trader distress from online shopping, emphasised digital payments' strengthening effect on small businesses, cited interest-free loans to street vendors during COVID-19 as support measures, and stated that proposals to change tax rates on online shopping are initiated, examined and recommended by the GST Council under the GST framework.
March 18, 2026
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Direct tax collections rise driven by stronger corporate tax receipts and lower refund outflows, boosting fiscal cash flows.
Net direct tax receipts increased 7.1 per cent to Rs 22.8 lakh crore till March 17, driven by higher corporate tax mop up and reduced refund outflows; corporate tax rose about 13 per cent while non corporate receipts rose about 3 per cent. Advance tax rose 6.4 per cent in four tranches despite a marginal decline in non corporate advance tax, and gross direct tax collection also increased against the government's Revised Estimates target.
March 18, 2026
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Trade deal impact: tariff asymmetry threatens farmer incomes, prompting calls for MSP guarantee and stronger crop protections.
India-US trade negotiations are depicted as posing asymmetric market access that would expose Indian farmers to tariff-free competition from US agricultural exports while domestic producers face duties, threatening incomes and sectoral competitiveness. Parliamentary interlocutors advocated compensatory domestic measures including a Minimum Support Price guarantee, reorientation of fertiliser subsidies to end-users, reform of the crop insurance scheme to favour farmers, targeted debt relief, and import curbs on selected agricultural commodities to protect farmer livelihoods and national food security.
March 18, 2026
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Constitutional constraints on military deployment limit Japan's warship commitments, shaping talks on security and defence cooperation.
Japan declined to commit warships in response to US requests, citing constitutional constraints, legal questions over the US action, and public opposition; limited non combat missions such as survey, intelligence, or minesweeping are possible only after a ceasefire and with domestic legal authorization. Concurrently, Tokyo is revising defence policy to accelerate long range missile deployment, consider joining a US multi layer missile defence system, and lift the lethal arms exports ban to bolster defence industry cooperation, while pursuing energy and rare earth investment projects to diversify supplies.
March 18, 2026
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Resolution plan finality prevents reopening admitted contingent claims after implementation, preserving creditor priority and CIRP finality.
The dispute concerns admission of pre insolvency operational claims as contingent claims admitted nominally by the resolution professional while an approved resolution plan provided no payment to operational creditors due to secured financial creditor priority. Appellate tribunals treated the RP's role as administrative and accepted nominal admission where disputes are pending, and the court stressed that the implemented resolution plan is final and reopening settled claims would disrupt the insolvency process.
March 18, 2026
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Brake disc expansion: OEM-grade multi-brand range launched to serve passenger, LCV and MHCV markets and exports.
Setco Auto Systems has introduced a Brake Disc range of over 200 part numbers for 15+ vehicle brands, engineered to meet OEM specifications in ventilated and solid configurations with precision fitment, instant bedding, thermal fade resistance and materials resisting wear, warping and corrosion. The launch targets both OEM and aftermarket channels and leverages Setco's manufacturing capacity, distribution network and export relationships to capitalise on a market shift toward disc brakes.
March 18, 2026
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Cardless cash withdrawals via UPI QR enable instant assisted cash access through merchant business correspondent networks nationwide.
RNFI Services Limited, via its Relipay platform in partnership with Jio Payments Bank, launched a nationwide UPI QR-based cash withdrawal facility enabling cardless assisted cash disbursements at authorised retail outlets within RNFI's Business Correspondent network; customers scan a QR code, enter the withdrawal amount and authenticate with their UPI PIN, after which the merchant dispenses cash, removing the need for ATM cards or biometric authentication and operating across UPI-enabled applications.
March 18, 2026
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Hybrid Annuity Mode highway project approved to deliver access controlled 4 lane connectivity and cross border trade link.
Approval for a 101.515 km 4 lane access controlled Barabanki-Bahraich highway under Hybrid Annuity Mode includes continuous service roads and bypasses to address geometric deficiencies, reduce travel time and improve safety and efficiency; it links national and state highways, airports, railway stations and the Rupaidiha Land Port to enhance multi modal integration and establish a cross border trade corridor to Nepal while supporting regional development and generating substantial employment.
March 18, 2026
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Minimum Support Price funding secures direct price support to cotton farmers through CCI procurement when markets fall below MSP.
The Cabinet approved funding for the Minimum Support Price mechanism for the 2023-24 cotton season, allocating resources to the Cotton Corporation of India (CCI) to provide direct price support by procuring Fair Average Quality cotton without quantitative ceilings whenever market prices fall below MSP. CCI is designated the central nodal agency and will deploy its procurement network across 11 major cotton-growing States, supported by information dissemination, the Bale Identification and Traceability System (BITS) and the "Cott-Ally" mobile application to enhance transparency and outreach.
March 18, 2026
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Industrial infrastructure development enabling plug-and-play parks with streamlined approvals and funding to boost manufacturing and jobs.
The Cabinet approved a centrally funded programme to create plug-and-play industrial parks implemented with States, NICDC and private partners, prioritising streamlined single-window approvals and investor-friendly reforms; funding covers core, value-added and social infrastructure with additional support for external connectivity, project selection by challenge mode, and park design requirements emphasizing multimodal connectivity, underground utility corridors, green energy and cluster-based development to drive investment and employment.
March 18, 2026
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Distribution of court-deposited settlement funds under lenders' agreed formula seeking approval for proportionate payouts to secured banks.
The SBI led consortium seeks court authorisation to disburse funds deposited in the registry pursuant to a settlement by allocating the deposited amount proportionately among secured lenders based on consolidated admitted dues across group companies. The lenders adopted a uniform methodology-aggregating domestic and foreign exposures, converting foreign loans at a fixed exchange rate of Rs 63 per US dollar, applying nine percent interest per annum from NPA date with annual rests, and adjusting amounts recovered through insolvency-to compute each lender's share and propose payment into specified bank accounts.
March 18, 2026
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Tariff policy uncertainty driving higher input costs and deterring investment, worsening supply chain disruptions for manufacturers.
Tariff measures enacted and announced by the executive have raised input costs for many US manufacturers, producing supply chain disruption, higher downstream prices, and employment contraction among small and medium producers. Uncertainty from frequent proclamations, reversals, exemptions and litigation has deterred capital investment and relocation decisions. While some construction and sectoral gains are cited by the administration, those reflect earlier subsidy driven projects rather than a broad manufacturing revival attributable to tariffs, and stakeholders call for targeted relief and clearer, coordinated trade strategies.
March 18, 2026
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Digital data collection for national surveys streamlines submission and reduces processing time via CAPI and AI tools.
Modernisation of NSS data collection uses CAPI and web applications with in-built validation, bilingual interfaces, and chatbot features to enable near real-time submission, supervisory digital monitoring, and reduced processing time for survey outputs; MoSPI publishes an Advance Release Calendar for report schedules and is integrating AI into portals and a website chatbot without a fixed full-implementation timeline.
March 18, 2026
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Cluster rejuvenation for export competitiveness: integrated infrastructure, MSME centric reforms and industry led governance drive implementation.
Rejuvenation of export oriented industrial clusters requires integrated infrastructure upgradation, technology adoption, capacity building and strengthened domestic manufacturing. Emphasis on enhanced testing, certification and quality infrastructure, promotion of innovation and technology commercialisation, and sustainable financing models. MSMEs are central, needing improved access to finance, capability enhancement and integration into global value chains. Implementation should adopt industry led governance via Special Purpose Vehicles, cluster level facilitation systems, regulatory simplification, and greater state and district flexibility to translate policy into actionable, demand aligned interventions.
March 18, 2026
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Energy security: port maritime coordination ensured safe crude handling to sustain imports despite regional supply-route disruptions.
Arrival of tanker Jag Laadki at Mundra Port demonstrates the port operator's role in ensuring safe berthing and maritime coordination to maintain crude import handling amid regional hostilities. The event highlights legal-regulatory implications for port responsibilities in maritime safety and security, the impact of Strait of Hormuz disruptions on India's import-dependent energy supply, and the consequent need for sourcing diversification and resilient port governance to uphold refinery feedstock continuity.
March 18, 2026
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NBFC registration permits deposit-taking and consumer EMI lending after KYC and instant credit limit approval.
Bajaj Finance Limited is a registered NBFC-D and classified as an NBFC-ICC, authorised to lend and accept deposits. It markets the Bajaj Finserv Easy EMI Loan to convert retail appliance purchases into monthly instalments: customers complete basic KYC (mobile number and PAN), receive an instant approved limit, and finalise EMI tenure and paperwork at partner stores. Promotional terms such as zero down payment and cashback vary by store and offers, and standard disclaimers apply.

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Customs & Trade

MRO services in India to grow to USD 5.7 billion by 2030

March 20, 2026

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Singapore, Mar 20 (PTI) Demand for Maintenance, Repair and Overhaul (MRO) services in India is expected to grow to USD 5.7 billion by 2030 from USD 4.4 billion in 2025, a 5.4 per cent growth per annum, a Singapore-based consultancy said Friday.

Engine MRO demand is expected to contribute almost half of this demand, with airframe and modifications slated to grow the fastest in this five-year period, according to a study report by Alan Lim and Joshua Ng, Directors of Alton Aviation Consultancy and aviation industry veterans.

Alton forecasts that India’s commercial aircraft fleet will grow to more than 1,800 aircraft by 2030, with narrow-body aircraft almost doubling from over 700 aircraft today to over 1,300, Lim and Ng said.

The directors noted that Indian airlines have already placed more than 500 aircraft for delivery over the next five years.

“To accommodate this growth, the government has committed to building more than 100 additional airports over the next six years, taking the total to over 200 by 2030, the two industry veterans told PTI.

“A rapidly expanding middle class, increased low-cost carrier penetration, and improving regional connectivity are further stimulating demand,” they said, backing their market outlook.

Beyond MRO, India is developing a broader aerospace ecosystem to support sustained aviation growth. “The government has set ambitious targets to expand domestic passenger traffic, increase the number of operational airports, and strengthen workforce and manufacturing capabilities, supported by large scale investments in airport infrastructure and new greenfield developments,” said Lim.

Ng noted, “Special economic zones, including GIFT City, are being positioned to anchor aircraft leasing and related financial services, while policies such as the ratification of the Cape Town Convention, liberalised foreign direct investment rules, and reductions in GST and customs duties on aviation components are lowering barriers for global aerospace players.

“Together, coordinated public policy and private investment are helping to build a more integrated, self-sustaining aviation value chain in India, spanning airports, leasing, aerospace manufacturing, and MRO,” they said.

The aviation-focused consultancy, which has offices across eight key aviation hubs around the globe, has highlighted recent high-profile investments in the Indian aviation sector.

Navi Mumbai International Airport commenced operations in December 2025, and Noida Airport will soon commence operations, in March 2026, with initial capacities of 12 million and 20 million passengers annually, respectively.

Dholera International Airport (planned investment of over USD 250 million, targeted completion December 2026) and Bhogapuram International Airport (planned investment of over USD 550 million, targeted completion June 2026) are set to further expand capacity.

Both Lim and Ng feel that continued investment in the supporting aviation infrastructure and services in India, especially for MRO services, is important, given that a large number of Indian aircraft are going for services outside the country including Singapore.

Several high-profile investments in recent years underscore this momentum, they added, listing aerospace focused special economic zones, including Hyderabad’s Adibatla SEZ, are attracting global suppliers such as Pratt and Whitney and Safran.

Safran inaugurated its 200 million euro LEAP engine MRO facility in Hyderabad for strengthening India’s capabilities in next generation engine overhaul.

IndiGo, in partnership with Bengaluru International Airport, has commenced development of a dedicated MRO facility to support its expanding fleet, they pointed out.

Elsewhere, Thales opened a new avionics MRO facility in India, expanding domestic repair capability in high value components, and the Adani Group acquired Air Works in December 2024 and subsequently AAR-Indamer Technics, which has consolidated its position in commercial MRO.

In February 2026, the Adani Group also signed an MoU with Embraer to establish a final assembly line for the E175 regional jet in India.

Under the Rafale programme’s 50 per cent offset clause, Dassault of France and its partners will be required to reinvest about half the contract value into India, supporting domestic manufacturing and aerospace capability development.

“Collectively, these developments signal that infrastructure capacity, manufacturing depth, and technical capabilities are beginning to scale to support the projected fleet growth, with growing participation from both domestic and international investors seeking to anchor long term aviation capabilities within India,” said Lim and Ng.

Supporting this growth will require more than continued investment from the public and private sectors. Faster parts logistics, deeper pools of skilled and certified maintenance personnel, and greater capability in higher value segments such as engines and complex components will be essential, they said.

“Close coordination between airlines, MRO providers, airports, training institutions, and policy-makers will play a critical role in building a resilient ecosystem capable of supporting India’s expanding air transport sector,” they believe.

As India’s aviation market scales, the MRO sector is set to become a core enabler of growth rather than a peripheral service, linking the country’s long term air transport outlook with industrial development and employment creation, said the duo. PTI GS PY PY PY

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