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March 11, 2026
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Energy supply diversification: India shifts toward Russian crude to offset Strait of Hormuz disruptions and protect fuel flows.
India increased Russian crude imports to offset shipments halted through the Strait of Hormuz, reducing the immediate shortfall from Middle Eastern supplies while maintaining refined product availability. The Strait of Hormuz is identified as a critical chokepoint for crude, LPG and LNG; mitigation measures include supplier diversification, enhanced Russian flows, and refinery adjustments to maximise LPG recovery, though such optimisations yield only marginal increases and leave a significant import dependency.
March 11, 2026
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LPG supply assurance: household supplies prioritized, measures to prevent hoarding and secure alternate imports and maintain continuity.
The government affirms domestic LPG stocks and diversified procurement are sufficient to meet household cooking needs despite Strait of Hormuz disruptions. Refinery adjustments have boosted domestic LPG output and LNG cargoes have been secured; imports have been rerouted. Measures prioritise household distribution, curtail non-domestic deliveries, adjust pricing and refill intervals, and establish a committee to allocate commercial supplies. State and central authorities are directed to prevent hoarding and coordinate to maintain energy security and uninterrupted essential supplies.
March 11, 2026
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Money laundering probe under PMLA registered and searches conducted after alleged diversion of government funds into shell entities and real estate.
Enforcement Directorate registered a case under the Prevention of Money Laundering Act and searched multiple premises after a vigilance FIR alleging that bank employees and private associates diverted Haryana government funds, used accommodation (hawala) entries, transferred money to shell companies and small jewellery entities, and channelled proceeds into purported gold purchases and real estate, with significant cash withdrawals noted.
March 11, 2026
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Model policy for digital service delivery to standardise Maha e-Seva and Aadhaar centre operations, ensure timely services and operator viability.
Directed formulation of a model framework and comprehensive policy within one month to standardise delivery of government digital services through Maha e-Seva and Aadhaar service centres, ensuring timely citizen access while preserving operator viability. Immediate administrative measures include release of pending commissions, a joint meeting to address deposit refunds, and establishment of a study group to assess actual operational costs for centre operations.
March 11, 2026
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Money laundering probe targets alleged diversion of government deposits at a private bank, prompting searches and shell company tracing.
Enforcement Directorate searches under the Prevention of Money Laundering Act allege that government deposits at a private bank were diverted instead of being placed in fixed deposits; investigations target business entities, ex-bank officials, beneficiaries and real estate agents accused of providing accommodation entries. The agency alleges proceeds were routed through shell companies, layered through transactions, disguised as gold purchases and real estate investments, with substantial cash withdrawals and an identified absconder.
March 11, 2026
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Trade agreements expand market access while preserving domestic safeguards and promoting value-added food exports through targeted support.
India's export expansion strategy combines preferential market access through recently concluded Free Trade Agreements with calibrated domestic safeguards for farmers, fishermen and MSMEs - excluding concessions in sensitive sectors (notably dairy, certain cereals and pulses) and denying duty concessions or market access for genetically modified products - while promoting value addition via the Agriculture Infrastructure Fund and export handholding through the Export Promotion Mission and DGFT to integrate businesses into global value chains.
March 11, 2026
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Merger clearance: acquisition of additional stake in Curefit approved to bolster the Target's capital in the fitness sector.
The Competition Commission of India approved an additional stake acquisition by MacRitchie Investments Pte. Ltd., an investment holding company and indirect wholly owned subsidiary of Temasek, in Curefit Healthcare Private Limited to supplement the Target's capital requirements in the fitness sector; the Target is the ultimate parent of the Curefit Healthcare Group, which operates fitness management programmes, memberships, franchising and sales of fitness apparel and accessories in India, and a detailed order will follow.
March 11, 2026
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Competition approval for acquisition by Cube V of road concession businesses operating under governmental concessions.
The Competition Commission of India approved the proposed indirect acquisition by Cube Highways and Infrastructure V Pte. Ltd. of the road asset businesses housed in DYIPL, DVIPL, DGIPL and DTEHPL, comprising operations that manage roads and highways under governmental concessions. Cube V is registered as a foreign portfolio investor and operates, acquires and manages highway and transport infrastructure assets in India. A detailed order of the Commission will follow.
March 11, 2026
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Free Trade Agreements enabling preferential market access for Indian agricultural and processed food exports through standards and research.
The press release highlights that expanding Free Trade Agreements are enabling preferential market access for Indian agricultural and processed food exports and that APEDA, at AAHAR 2026, released research reports on key crops and launched packaging design solutions and technical standards with the Indian Institute of Packaging aimed at improving protection, shelf life and market presentation for region-specific, GI-tagged and organic products to support export competitiveness.
March 11, 2026
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Food safety standards underpin promotion of European flour in India, enabling market access and traceable supply chains.
Promotion of premium Italian soft wheat flour in India emphasises compliance with food safety regulations, full traceability and sustainability commitments as the core regulatory assurances supporting market entry and commercial outreach. The campaign presents European milling quality controls - careful wheat selection, computerised traceability, and independent accredited laboratory testing - as operative mechanisms ensuring conformity with EU standards and as commercial assurances to Indian buyers.
March 11, 2026
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UK-India free trade agreement expands market access for UK food and drink exporters, boosting trade engagement at AAHAR.
The UK-India Free Trade Agreement is positioned to enhance market access for UK food and drink exporters by reducing barriers and facilitating faster, cheaper trade. The UK Government, via the British High Commission and the GREAT campaign, is deploying a trade delegation and a UK Pavilion at AAHAR 2026 to translate improved market access into direct commercial engagement with Indian importers, distributors, modern retail and HoReCa operators, emphasising quality, safety and provenance to support long-term trade partnerships.
March 11, 2026
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Temporary waiver for purchase of sanctioned oil allows diversion and refining of en route cargoes to ease supply shortages.
The United States authorised a temporary waiver allowing Indian refiners to accept Russian-origin crude already at sea to address immediate energy supply disruptions amid the Iran-related conflict. The waiver is narrowly targeted to existing cargoes, framed as a short-term operational authorisation to divert, refine and rapidly release oil into markets to blunt price spikes, while officials maintain it does not signify a change in broader policy toward Russia.
March 11, 2026
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UK-India Free Trade Agreement drives West Midlands mission to secure partnerships in clean energy, technology, education and creative industries.
The West Midlands Mayoral-led trade mission to India sought to operationalise the UK-India Free Trade Agreement by securing research and industry alliances, academic partnerships and commercial engagements across clean energy, technology, manufacturing, creative industries and tourism, including a University of Warwick-Tata Power alliance, Aston University and Birmingham City University agreements, and plans for a joint taskforce with the State of Gujarat to formalise sectoral growth collaboration.
March 11, 2026
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RBI intervention prevents further rupee depreciation as outflows and geopolitical tensions pressure the currency, while oil declines temper losses.
The rupee weakened intraday amid foreign institutional investor outflows and Middle East geopolitical tensions, with a softer dollar and falling crude curbing larger losses; reported Reserve Bank of India selling and domestic bond flows helped prevent a breach of a key exchange level and set an intraday trading range.
March 10, 2026
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Pipeline supply agreement enables emergency diesel deliveries to address national fuel shortage and bolster bilateral energy cooperation.
A cross-border supply framework permits direct transport of diesel from India to Bangladesh via the Bangladesh-India Friendship Pipeline under an existing supply agreement providing for an annual allocation and optional additional quantities; recent bilateral negotiations seek to operationalise supplementary deliveries to address an acute domestic fuel shortfall while using the pipeline's capacity to reduce transport time and costs.
March 10, 2026
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Share capital reduction validation upheld as an expert valuation and statutory procedure governs minority buyouts.
The dispute concerned cancellation of minority shareholdings via statutory share capital reduction and whether the valuation met Companies Act requirements. The Court held that share valuation is an expert exercise and evaluated compliance with statutory procedure and notice obligations, noting the NCLT's price adjustment and concluding the company followed prescribed steps for the capital reduction.
March 10, 2026
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Beneficial ownership threshold from land-border countries eased, permitting limited non-controlling stakes under the automatic route with reporting.
The amendment permits non controlling investors from land border countries to invest under the automatic route where their beneficial ownership at the investor entity level does not exceed a defined threshold, while retaining sectoral caps, entry routes and attendant conditions. Such investments must be reported to the DPIIT. An expedited 60 day processing track is established for specified manufacturing sectors, conditional on majority shareholding and control of the investee remaining with resident Indian citizens or resident Indian entities owned and controlled by resident Indian citizens.
March 10, 2026
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LPG supply prioritisation: committee to allocate commercial gas based on genuine need, availability and essential service priority.
The government has prioritised household LPG supplies and constituted a three member committee of Executive Directors of Oil Marketing Companies to review representations from hotels, restaurants and other commercial users and allocate commercial LPG based on genuine need, product availability and merits of each case. Measures include directing refineries to increase LPG output and extending the refill booking cycle to discourage hoarding, while essential non domestic sectors will receive prioritised non domestic supplies subject to import constraints and production capacity.
March 10, 2026
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Cabinet approval of multitracking projects expands rail capacity and improves regional connectivity and logistics efficiency.
Cabinet approval authorises two multitracking projects (Sainthia-Pakur fourth line and Santragachi-Kharagpur fourth line) under the PM Gati Shakti framework to add about 192 km to the rail network across five districts in West Bengal and Jharkhand, increase line capacity to ease congestion, improve passenger and freight service reliability, and enhance multimodal connectivity, regional access, and environmental and logistical efficiencies.
March 10, 2026
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Trade and Economic Partnership Agreement opens high income markets and investment pathways, enabling technology transfer and jobs.
The Trade and Economic Partnership Agreement between India and EFTA implements preferential market access and capability building measures, with EFTA commitments covering 92.2% of tariff lines and India covering 82.7%, while protecting sensitive sectors. TEPA couples tariff concessions for key Indian export sectors with improved access to specialised inputs and machinery from EFTA, includes an investment facilitation element linked to industrial and technology collaboration, and provides frameworks for services cooperation and Mutual Recognition Agreements to support mobility of professionals.

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News and Press Release

Annual Survey of Unincorporated Sector Enterprises (ASUSE) Results for 2025 (Survey period: January 2025 to December 2025)

March 24, 2026

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Snapshot:

  • The estimated number of establishments increased from 7.34 crore in ASUSE 2023–24 (October 2023–September 2024) to 7.92 crore during in ASUSE 2025 (January–December 2025), reflecting a growth of about 7.97 per cent during the period.
  • Employment in the sector grew by 6.18%, with more than 74.52 lakh new jobs being added during the period.
  • Gross value Added (GVA) also grew by 10.87% (at current price) during this period over ASUSE 2023-24. This growth has been primarily driven by 16.77% growth in trade sector followed by 8.52% growth in manufacturing and 7.36% growth in other services sectors.
  •  The emolument per hired worker increased by 3.88% in 2025 compared to the previous ASUSE 2023-24, signalling improvements in wage levels.
  • Women-owned proprietary establishments remained substantial at 27%, up from 26.2% in the previous round (ASUSE 2023-24).
  • The share of establishments using internet increased significantly from 26.7% in ASUSE 2023–24 to 39.4% in ASUSE 2025, highlighting the growing digital integration of the sector.

The Ministry of Statistics and Programme Implementation (MoSPI) has released the results of Annual Survey of Unincorporated Sector Enterprises (ASUSE) for 2025 for the reference period January, 2025 - December, 2025 referred to as ASUSE 2025 in this press note. A brief overview of the survey in terms of coverage, sampling strategy, data collection mechanism, etc., is provided in the Endnote.

The unincorporated non-agricultural sector is an important pillar of the Indian economy, contributing significantly to employment generation and Gross Domestic Product (GDP). The sector sustains livelihoods for millions of people and supports the production and distribution of goods and services across the country. By complementing the activities of the incorporated sector and strengthening domestic value chains, it plays a crucial role in the overall socio-economic development of the country.

The Annual Survey of Unincorporated Sector Enterprises (ASUSE) is conducted with the primary objective of measuring the economic and operational characteristics of unincorporated non-agricultural establishments engaged in manufacturing, trade and other services sectors (excluding construction). The survey collects information on key economic indicators such as number of workers, Gross Value Added (GVA), emoluments paid, fixed assets owned and outstanding loans, along with operational characteristics such as type of ownership, nature of operation, registration status and use of Information and Communication Technology (ICT).

The survey data serves as an important input for policymaking, supporting compilation of National Accounts Statistics, and meets the information needs of Ministries such as Micro, Small and Medium Enterprises (MSME), Textiles, etc., while enabling stakeholders to make informed decisions.

Key highlights from the ASUSE 2025 results:

The ASUSE 2025 results highlight a steady expansion of the unincorporated non-agricultural sector reflected in growth in establishments, employment, and productivity, indicating the sector's resilience and sustained momentum.

Growth in Establishments, Gross Value Added and Productivity Metrics:

The total number of establishments in the sector increased substantially from 7.34 crore in ASUSE 2023-24 (Oct 23 – Sept 24) to 7.92 crore in ASUSE 2025 (Jan 25 -Dec 25), representing a healthy 7.97% growth. Among the broad sectors covered, the number of establishments in the "Other Services’ sector recorded a robust growth of 10.29% followed by a 6.48% increase witnessed by the Manufacturing sector and 6.18% by Trade sector. This increase reflects broad-based expansion across sectors and highlights the steady growth of the unincorporated non-agricultural sector.

During the same period, the Gross Value Added (GVA) which is a key indicator of economic performance rose by 10.87% driven by 16.77% growth in trade sector followed by 8.52% growth in manufacturing and 7.36% growth in other services sectors. Among the broad sectors, however, other services sector had the highest share in GVA (42%) followed by trade (37%) and manufacturing (21%).

Gross Value Added (GVA) per worker which is a measure of labour productivity of the sector, rose to Rs. 1,56,539 in 2025 from. Rs. 1,49,742 in 2023-24 in current prices showing a 4.54% increase. During the same period, the Gross Value Added (GVA) per establishment also increased from Rs. 2,45,687 to  Rs. 2,52,699.

Strong Labour Market Performance

The sector employed about 12.81 crore workers during January-December 2025, adding more than 74.52 lakh jobs from 2023-24 (Oct 23 – Sept 24) reflecting robust labour market expansion. Among the broad activities, "Other Services" sector showed the highest growth of 7.40% generating about 35 lakh new employment.

Women-Led Enterprises Rise as Worker Earnings Improve

The percentage of female-owned proprietary establishments increased marginally from 26.2 per cent in 2023–24 to 27.0 per cent in ASUSE 2025 pointing to an encouraging trend in women-led enterprises.

The emolument per hired worker increased by 3.88% in 2025 compared to the previous ASUSE 2023-24, signalling improvements in wage levels. The highest increase in this metric was observed in trade sector which recorded a growth of about 8.5%.

Better Digital Penetration

Percentage of establishments using internet has also grown significantly from 26.7% in 2023-24 to 39.4% in ASUSE 2025. This substantial growth reflects a strong trend toward digital adoption among establishments, highlighting the increasing reliance on the internet for business operations.

Fig 4: Key Operational Indicators

Percentage of Establishments using Internet

ASUSE 2023-24

ASUSE 2025

Percentage of Female Owned Proprietary Establishments

ASUSE 2023-24

ASUSE 2025

Annual estimates of key indicators (value figures in current price), of ASUSE 2022-23, ASUSE 2023-24 and ASUSE 2025 are given in Table 1 below. The annual estimates for ASUSE 2025 for the broad activity categories are provided in the factsheet which is available in the website of the Ministry (https://www.mospi.gov.in). Further, interactive tables and visualizations on ASUSE results may be accessed on the Data Catalogue section of https://esankhyiki.mospi.gov.in/. Report of ASUSE 2025 as well as unit level data will be released in April, 2026 with detailed insights from the survey.

Table 1: Key indicators of ASUSE 2022-23, ASUSE 2023-24 and ASUSE 2025

all-India

Indicator

ASUSE 2022-23

(October,2022 – September, 2023)

ASUSE 2023-24

(October,2023 – September, 2024)

ASUSE 2025 (January, 2025 – December, 2025)

(1)

(2)

(3)

(4)

Number of Establishments (in ’00)

6,50,484

7,33,995

7,92,465

Number of Workers (in ’00)

10,96,260

12,05,998

12,80,518

Gross Value Added (Rs. Crore)*

15,42,409

17,97,278

19,92,577

GVA per establishment*(Rs.)

2,38,168

2,45,687

       2,52,699

GVA per worker* (Rs.)

1,41,769

1,49,742

       1,56,539

Emolument per Hired Worker (Rs.)

         1,24,842

1,41,071

       1,46,550

           *pertaining to market establishments

Endnote: A brief about the coverage, sampling scheme, sample size and data collection mechanism in the Annual Survey of Unincorporated Sector Enterprises (ASUSE):

A. Coverage of ASUSE:

A.1. Geographically, ASUSE covers the rural and urban areas of whole of India (except the villages in Andaman and Nicobar Islands, which are difficult to access).

A.2. Sector-wise, this survey captures unincorporated non-agricultural establishments belonging to three sectors viz., Manufacturing, Trade and Other Services.

A.3. Ownership-wise, unincorporated non-agricultural establishments pertaining to proprietorship, partnership (excluding Limited Liability Partnerships), co-operatives, societies/trusts etc. have been covered in ASUSE.

B. Sampling Scheme:

The survey has been conducted following a multi-stage stratified sampling scheme, where first stage units (FSUs) are census villages in rural area (except for rural Kerala, where Panchayat wards have been taken as FSUs) and UFS (Urban Frame Survey) blocks in urban areas.  The ultimate stage units (USUs) are establishments for both the sectors. In the case of large FSUs, one intermediate stage of sampling has been done in the form of hamlet groups in rural and sub-blocks in urban. 

The sampling design of ASUSE 2025 has been revised to enable quarterly selection of sample units. To facilitate this shift, the sample size has been increased by approximately 1.5 times over the previous survey. This improvement also makes it possible to produce quarterly estimates in addition to annual results. By adopting districts within a state as the basic strata, the design also allows participating states to generate annual estimates at the district level.

C. Sample Size:

In ASUSE 2025, data were collected from a total of 6,70,289 establishments (2,94,144 in rural and 3,76,145 in urban) pertaining to 24,153 surveyed FSUs (10,219 in rural and 13,934 in urban).

D. Data Collection Mechanism:

ASUSE 2025 has been conducted based on area frame and establishments have been listed in the selected FSUs of both rural and urban sector. Mostly, data were collected from the selected establishments through oral enquiry pertaining to the ‘monthly’ reference period barring a few big establishments, which had provided annual data from their audited Books of Accounts. The data for the survey were collected in tablet using Computer Assisted Personal Interviewing (CAPI).

E. Know your Survey- ASUSE:

The Factsheet of ASUSE 2025 (January, 2025 – December, 2025) is available on the website of the Ministry (https://www.mospi.gov.in)

Scan QR code to access MoSPI Publications/ Reports

 

For more detailed understanding of the objectives, coverage, concepts, methodology and data quality practices of ASUSE in a simple, transparent, user-friendly language, one may refer to the Know Your Survey: A User Guide to the Annual Survey of Unincorporated Sector Enterprises (ASUSE) published by NSO, MOSPI and available on the website of the ministry (https://www.mospi.gov.in).

****

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