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    Price shocks from Iran war power solar sales in energy-hungry Asia
    Govt hikes import duty on gold, silver to 15 pc to curb non-essential imports, save forex reserves
    Government of India and IFAD launch new eight-year strategy with Country Strategic Opportunities Programme (COSOP) from 2026 to 2033 to strengthen rur...
    DFS Launches 'Bharat Maritime Insurance Pool’ of USD 1.5 billion, with a sovereign guarantee of USD 1.4 billion/₹12,980 crores to facilitate c...
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    Noida airport domestic flyers to pay Rs 490 user development fee: AERA
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    Govt raises import duty on gold, silver to 15 pc to curb non-essential imports
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    Maveric Systems announces strategic brand positioning focused on Engineering Trust in AI-First Banking
    ICAI to push for curbing foreign travel, other forex-saving ways among its members, officers
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May 13, 2026
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Rooftop solar demand surges as fuel costs spike, with Asian consumers turning to cleaner and cheaper power options.
Rising fuel and electricity costs triggered by the Iran war are accelerating demand for rooftop solar power across energy-hungry Asia, with the Philippines reporting a sharp increase in installations and customer inquiries as households, businesses, and public institutions seek alternatives to expensive and uncertain fossil-fuel supply. The article describes a broader regional shift toward rooftop solar, including policy interest in Indonesia, Vietnam, and Thailand, alongside similar demand growth in the United States and Europe as consumers look for a practical way to reduce electricity bills and improve energy resilience.
May 13, 2026
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Import duty on precious metals raised to curb discretionary imports and ease pressure on foreign exchange reserves.
Import duty on gold, silver and platinum was increased to 15 per cent, with related items also revised, as a calibrated price-based measure to moderate discretionary imports and reduce pressure on foreign exchange reserves. The stated rationale was to preserve market flexibility while easing external-sector stress, prioritising forex for essential imports and supporting balance-of-payments stability amid the West Asia crisis.
May 13, 2026
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Rural resilience and sustainable livelihoods take centre stage in the new India-IFAD strategy for long-term development.
The Government of India and IFAD launched an eight-year Country Strategic Opportunities Programme for 2026-2033 to advance rural incomes, strengthen resilience, and expand sustainable livelihood opportunities. Aligned with the Viksit Bharat@2047 vision, the programme focuses on social, economic, and climate resilience in rural communities and on strengthening knowledge systems to scale proven development models within India and across the Global South. The strategy emphasises Self-Help Groups, Farmer Producer Organisations, and cooperatives as platforms linking finance, technology, infrastructure, and markets.
May 13, 2026
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Maritime insurance pooling strengthens continuous cover, underwriting capacity, and sovereign backstop for shipping risks amid sanctions and tensions.
The Bharat Maritime Insurance Pool is a domestic marine insurance arrangement with combined underwriting capacity and a sovereign guarantee to support continuous cover for Indian flagged or controlled vessels, and vessels destined to or departing from India. It covers Hull and Machinery, Cargo, Protection and Indemnity, and War risk, especially where sanctions exposure, withdrawal of foreign reinsurance support, or geopolitical tensions may disrupt shipping operations and trade flows. A Governing Body and Underwriting Committee oversee the pool, while GIC Re acts as administrator. Claims up to USD 100 million are met from pool capacity, and larger claims may use the sovereign guarantee after exhaustion of reserves, member contributions, and reinsurance.
May 13, 2026
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Competition approval for CPPIB India's acquisition of shareholding in Ctrl S Datacenters advances a proposed investment combination.
Competition approval was granted for the acquisition by CPPIB India Private Holdings Inc., a Canadian investment holding company and wholly owned subsidiary of CPPIB, of certain shareholding in Ctrl S Datacenters Limited. The transaction concerns a proposed combination involving investment by CPPIB through CIPH in Ctrl S, which provides data centre and colocation services and related managed services in India.
May 13, 2026
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Merger and stake acquisition in Lloyds Engineering Works approved under competition law review.
Competition Commission of India approved a proposed combination involving acquisition of a 7.14% shareholding in Lloyds Engineering Works Limited by Thriveni Earthmovers Private Limited through a block deal, and merger by absorption of Lloyds Infrastructure & Construction Limited, Metalfab Hightech Private Limited and Techno Industries Private Limited into Lloyds Engineering Works Limited as the surviving entity. The parties are described by their respective businesses in contract mining, engineering, construction, manufacturing of heavy equipment, lightweight engineering structures, and manufacture of elevators, escalators, motors and pumps.
May 13, 2026
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Competition clearance for Kimberly-Clark's acquisition of Kenvue covers consumer health, hygiene and personal care businesses.
Competition Commission of India approved the acquisition of sole control over Kenvue Inc. by Kimberly-Clark Corporation pursuant to an agreement and plan of merger. The transaction concerns consumer products groups active in personal care, health, hygiene and related product lines, including fibre-based absorbency products, baby care, feminine hygiene, consumer health, oral care, skin care, sun protection, baby toiletries and baby wipes.
May 13, 2026
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Competition Commission approval of acquisition and control of GVK Energy by Adani Power under insolvency resolution.
Competition Commission of India approved the acquisition of 100% share capital and control of GVK Energy Limited by Adani Power Limited pursuant to the corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016. The proposed combination relates to change in ownership and control of the Target in the context of insolvency resolution. Adani Power Limited is a listed thermal power producer, while GVK Energy Limited is engaged in hydroelectric power generation through its subsidiary AHPL and provides operation and maintenance services to AHPL.
May 13, 2026
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User Development Fee structure at Noida International Airport set for domestic and international passengers with gradual tariff increases ahead.
AERA fixed the User Development Fee for Noida International Airport for the 2026-27 period at Rs 490 for departing domestic passengers, Rs 980 for departing international passengers, Rs 210 for arriving domestic passengers and Rs 420 for arriving international passengers, and approved gradual increases over the first control period. It also allowed a Variable Tariff Plan for landing and parking charges to support early route development, with charges to rise progressively over the concession period. AERA said the tariff structure reflects the characteristics of a greenfield airport, including higher upfront investment, statutory compliance requirements and phased capacity expansion.
May 13, 2026
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Rupee recovery supported by higher gold and silver import tariffs aimed at easing foreign exchange pressure.
The rupee recovered in early trade after higher import tariffs on gold and silver were expected to curb overseas purchases and reduce pressure on foreign exchange reserves. The currency's gains were moderated by elevated crude oil prices and the strength of the US dollar, while market participants also linked the move to a possible narrowing of the current account deficit through lower precious-metal imports.
May 13, 2026
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Illegal constructions and municipal membership scrutiny follow notice, failed stay request and demolition at AIMIM corporator's properties.
Municipal action targeted alleged illegal constructions at the residence, office and shops of an AIMIM corporator after a notice called for a reply within 72 hours on the status of the properties. The corporator sought a stay, but no stay was granted, and the civic body proceeded with demolition under police protection while indicating that the property's fate could be decided if no satisfactory response was received. The matter was also linked to proposed action regarding the corporator's membership in the municipal body, subject to verification of property documents and alleged nondisclosure in the nomination process.
May 13, 2026
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Import duty on gold and silver raised to curb non-essential imports and conserve foreign exchange amid balance of payments stress.
Import duty on gold and silver was increased to 15 per cent by raising the social welfare surcharge and agriculture infrastructure and development cess, effective 13 May 2026. The measure was intended to curb non-essential imports of precious metals and conserve foreign exchange amid a rising import bill and balance of payments stress. It reversed the earlier reduction in customs duty on gold to 6 per cent and was aimed at moderating inbound shipments driven largely by the jewellery industry.
May 12, 2026
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User Development Fee fixed for Noida International Airport, with a Variable Tariff Plan allowed for early route expansion.
Airports tariff regulation for Noida International Airport fixed the User Development Fee for the 2026-27 period at Rs 490 for departing domestic passengers, Rs 980 for departing international passengers, Rs 210 for arriving domestic passengers and Rs 420 for arriving international passengers. A Variable Tariff Plan was also permitted, mainly for landing and parking charges, to encourage airlines to open new routes, increase flights and expand their network in the early operational years.
May 12, 2026
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Stamp duty exemption claim rejected, with recovery of deficit duty and penalty sustained on a high-value land sale deed.
Stamp duty exemption claims for a high-value land sale deed in Mundhwa were rejected, and the recovery of deficit duty and penalty was sustained after appellate review by the Maharashtra State Chief Controlling Revenue Authority. After issuance of show-cause notices and consideration of the company's written reply, the Collector of Stamps assessed duty liability at about Rs 21 crore, including duty under the Maharashtra Stamp Act and additional municipal levies. The authority held that the exemption claim was untenable and affirmed the earlier order directing payment of the stamp duty and penalty.
May 12, 2026
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Transparent income tax compliance gets a tech-driven push with simpler language, digital assistance and automated refund processing.
Income tax administration is being repositioned around a simplified, transparent and technology-driven compliance framework under the Income Tax Act, 2025, with emphasis on reducing litigation, improving voluntary compliance and aligning taxpayers and tax authorities through clearer language. The department is promoting digital assistance and taxpayer outreach through initiatives such as an AI-powered chatbot, educational FAQs and brochures, and printed guidance on exemptions and TDS in regional language.
May 12, 2026
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Rupee weakness amid global risk aversion, crude price surge and expectations of possible RBI support
The rupee fell to a fresh record low against the US dollar amid global risk aversion, stronger dollar trends and a sharp rise in Brent crude prices. Traders linked the weakness to concerns over India's trade deficit and balance-of-payments pressures if oil prices remain elevated, while noting that any RBI intervention could support the currency at lower levels. The report also notes foreign institutional selling and weakness in domestic equity markets.
May 12, 2026
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Export growth, self-reliance and quality manufacturing drive India's push toward higher competitiveness and global market expansion.
India's economic resilience, export performance and external-sector strength were highlighted alongside the need for greater efficiency, productivity, self-reliance and import reduction. Free trade agreements with developed economies were presented as tools to expand exports and attract investment, while artificial intelligence, robotics and quantum computing were described as force multipliers for competitiveness. The text also urged a shift from assembled to designed, engineered and manufactured goods, with non-negotiable quality, deeper localisation, stronger R&D and alignment with global standards.
May 12, 2026
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AI-first banking trust positioning emphasizes compliant by design transformation, core-system integration, and measurable operational outcomes.
Maveric Systems announced a new brand positioning, "Engineering Trust in AI-First Banking," for financial institutions shifting from digital-first to AI-first operating models. The positioning emphasizes embedding AI into core banking systems, applying fairness, explainability, reliability, privacy and regulatory compliance by design, and delivering measurable outcomes through a proprietary AI @ Scale framework, supported by platforms for quality intelligence, data integrity, customer intelligence and intelligent operations.
May 12, 2026
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Foreign-exchange conservation measures prompt ICAI to curb overseas travel and promote virtual meetings among members and officers.
ICAI proposed foreign-exchange saving measures for members, officers and families amid the West Asia conflict and higher oil prices. The institute said it would issue an advisory to curb foreign travel and encourage other ways of conserving foreign exchange, including using virtual meetings where possible. Foreign travel by office-bearers and officers would be restricted to cases of absolute necessity, and the measures would be implemented mandatorily within ICAI.
May 12, 2026
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Public Sector Banks show stronger asset quality, record profitability and healthier capital position amid broad-based credit growth.
Public Sector Banks recorded strong financial performance during FY 2025-26, marked by sustained business growth, improved asset quality, record profitability and a healthy capital position. Aggregate business, deposits and advances expanded sharply, with broad-based credit growth in the retail, agriculture and MSME segments. Asset quality improved significantly as gross and net NPA ratios fell to historically low levels, while provisioning coverage remained above 90% across all PSBs.

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68th Session of the Governing Body Meeting of the Asian Productivity Organisation Concludes in New Delhi

May 23, 2026

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APO Governing Body Reviews Vision 2030 Roadmap and Institutional Performance Measures

The 68th Session of the Governing Body Meeting (GBM) of the Asian Productivity Organization (APO) concluded successfully in New Delhi after three days of deliberations, strategic discussions and high-level engagements held from 20–22 May 2026 at Bharat Mandapam.

The meeting was hosted by the National Productivity Council (NPC) under the aegis of the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry, Government of India. The event witnessed participation from Heads of National Productivity Organizations (NPOs), senior government officials, policymakers, productivity experts and delegates from APO member economies.

The three-day programme commenced on 20 May 2026 with preparatory and closed-door meetings, followed by networking and cultural engagements aimed at strengthening regional cooperation and collaboration among member economies.

The plenary sessions held on 21 and 22 May 2026 deliberated on several important agenda items concerning the future direction, governance and strategic priorities of the APO. Discussions included adoption of the Annual Report of the Secretary-General, Financial Report for the Year 2025, appointment of auditors for 2026, recommendations of the APO Vision 2030 Steering Committee, APO preliminary budget for the 2027–28 biennium, governance reforms, progress reports on regional productivity initiatives and measures for strengthening institutional performance and compliance.

The inaugural session held on 21 May 2026 was graced by Union Minister of Commerce & Industry, Shri Piyush Goyal, who delivered the inaugural address as the Guest of Honour. Shri Goyal highlighted India’s productivity-led growth, digital public infrastructure, manufacturing and logistics reforms, MSME empowerment, sustainability initiatives and regional cooperation.

The Governing Body Meeting also marked key leadership transitions, with APO Director for Indonesia, Prof. Anwar Sanusi, assuming charge as APO Chair for 2026–27, succeeding APO Director for India and Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry, Government of India, Shri Amardeep Singh Bhatia. The Acting APO Directors for Iran and Japan assumed the roles of First and Second Vice Chairs, respectively.

A major highlight of the event was the presentation of the APO Awards for Productivity Advocates, Technical Experts and NPC Special Recognition Awards in recognition of outstanding contributions to productivity enhancement and organisational excellence.

The Asian Productivity Organization established the APO Accreditation Body (APO-AB) to assess and accredit Certification Bodies for Productivity Specialists among APO member economies. So far, 13 APO member economies, including India, have received certification. During the event, the APO-AB Accreditation Certificate was presented to the National Productivity Organization Certification Body of Cambodia.

During the Governing Body Meeting, member economies reaffirmed their collective commitment towards advancing the objectives of APO Vision 2030 and strengthening cooperation in areas such as digital transformation, sustainable development, innovation, capacity building and productivity-led growth.

The closing session held on 22 May 2026 commenced with remarks by the APO Chair, followed by observations from India’s Alternate Director, Smt. Neerja Sekhar. This was followed by the announcement that the 69th GBM will be hosted in Lao PDR in 2027 and the 67th Workshop Summit Meeting (SM) of Heads of APO Economies will be held in Sri Lanka in 2027.

Under “Any Other Business,” APO informed member economies about the initiative under GAIA (Genuine AI Action), under Vision 2030, emphasising AI-driven productivity enhancement and modernisation of training systems. Thereafter, the Summary Record of Proceedings (Days 1 and 2) was adopted as presented by the Second Vice Chair, Japan, and the session concluded with the closing statement by the APO Chair.

Later, delegates participated in cultural visits to prominent heritage sites in Delhi, including the National Museum, Humayun’s Tomb, the India Gate–Central Vista ceremonial avenue and The Light and the Lotus: Relics of the Awakened One. The exposition showcased sacred relics of Lord Buddha along with sculptures, manuscripts and artefacts reflecting India’s Buddhist heritage. Hosted at the Rai Pithora Cultural Complex, New Delhi, the exposition highlighted India’s spiritual and civilisational legacy. Delegates appreciated the opportunity to experience India’s rich cultural heritage.

The successful hosting of the 68th Governing Body Meeting of the Asian Productivity Organization reaffirmed India’s commitment to advancing productivity, strengthening regional cooperation and fostering sustainable socio-economic development across the Asia-Pacific region.

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