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June 5, 2026
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Fisheries infrastructure modernisation drives export-oriented growth with funding for Kakinada Fishing Harbour and stronger export facilities.
Centre sanctioned funding for modernisation of Kakinada Fishing Harbour into a smart harbour under the Pradhan Mantri Matsya Sampada Yojana, to improve landing facilities and promote fish exports. The upgrade is stated to support berthing for about 423 vessels, handle annual landings of around 74,448 tonnes, and generate substantial employment. The ministry also said it was ready to establish a regional office of the National Fisheries Development Board at Kakinada if land is provided by the state government.
June 5, 2026
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June 5, 2026
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Bullion prices weaken as West Asia tensions, a stronger rupee, and tighter global monetary signals pressure gold and silver.
Bullion prices weakened amid shifting geopolitical signals from West Asia, with gold and silver extending volatile moves in domestic and international markets. Domestic gold prices fell after brief recovery in the previous session, while silver recorded a sharper decline, reflecting continued uncertainty in precious metal markets. Analysts linked the weakness to international market softness, a stronger rupee, and fragile sentiment created by unresolved regional tensions alongside expectations that interest rates may stay elevated for longer. The domestic currency and policy backdrop also influenced bullion pricing, with measures to attract foreign capital and support the rupee adding pressure on gold prices.
June 5, 2026
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Regulatory oversight and crony capitalism dominate Congress criticism over alleged Rajesh Exports misrepresentation and delayed enforcement.
Congress questioned the role of probe agencies and the government's regulatory oversight in relation to allegations surrounding Rajesh Exports, relying on SEBI's interim order and saying the case reflects a wider problem of crony capitalism and weak enforcement. SEBI's interim findings were described as indicating large-scale misrepresentation of financial statements, routing and layering of funds through personal accounts and related entities, and inadequate disclosures or supporting documentation.
June 5, 2026
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GDP growth and macroeconomic stability drive India's expansion amid oil price pressure and supply-chain disruptions.
India's economy recorded 7.8 per cent GDP growth in the January-March quarter, with full-year growth rising to 7.7 per cent, supported by strong domestic demand, government expenditure, healthy consumption and robust investment activity. Gross value added also increased, indicating that expansion was backed by production momentum as well as demand. The growth performance was driven mainly by secondary and tertiary sectors, while private final consumption expenditure and gross fixed capital formation showed strong expansion.
June 5, 2026
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Inflation target remains unchanged as RBI ties future policy action to persistent price pressures and data dependence.
The Reserve Bank of India reiterated that its 4 per cent medium-term inflation target remains unchanged and has not been placed in abeyance, while monetary policy action will depend on whether price pressures become broad-based and persistent. The central bank kept the repo rate unchanged and maintained a neutral stance, saying temporary shocks may be looked through, but entrenched inflationary pressures affecting expectations would require policy response.
June 5, 2026
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India and the United States are advancing the first phase of a bilateral trade agreement, with negotiations focused on trade in goods, non-tariff measures, customs and trade facilitation, economic security alignment and related areas of mutual interest. The interim framework contemplates preferential market access and tariff adjustments, while both sides continue work on the broader bilateral trade agreement. The article also notes the changing US tariff environment and pending Section 301 investigations linked to forced-labour concerns.
June 5, 2026
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Insolvency law amendments streamline default records, disclosure, liquidation claims and personal guarantor asset reporting.
The Insolvency and Bankruptcy Board of India has amended multiple regulations to align them with the Insolvency and Bankruptcy Code (Amendment) Act, 2026. The information utilities framework now uses the broader term financial institution, provides for issuance of a record of default on debtor confirmation or non-response after reminders, and introduces a standardised Information of Dispute output where default is disputed. Other amendments revise disclosure for pre-packaged insolvency applications, claims handling and termination in voluntary liquidation, asset disclosure and coordination requirements in personal guarantor processes, and align grievance, inspection, and disciplinary provisions with the amended Code.
June 5, 2026
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Trade and investment cooperation deepens as India and Philippines discuss customs facilitation, market access, and preferential trade arrangements.
Strengthening bilateral trade and investment cooperation between India and the Philippines was discussed through review of trade and investment trends, priority products and services, and expanded cooperation in sectors including infrastructure, ICT, AI, and pharmaceuticals. The discussions also focused on customs cooperation, trade facilitation, agricultural market access, and settlement of trade in national currencies. The meeting considered the early conclusion of the ASEAN-India Trade in Goods Agreement review and engagement on a bilateral Preferential Trade Agreement.
June 5, 2026
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Blue economy and seafood exports drive India's aquaculture growth through sustainability, innovation, and infrastructure development.
India's seafood sector offers substantial expansion potential, with the country holding only a small share of the global seafood market. The discussion highlights the role of blue economy development in supporting coastal economic growth while preserving marine ecosystems, and identifies Andhra Pradesh as a major contributor through its fish production, shrimp production, and seafood export earnings. The stated growth strategy centres on improving quality, sustainability, traceability, innovation, and zero pollution in seafood production and exports.
June 5, 2026
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Domestic manufacturing expansion drives localisation and import reduction at a new PPE facility in Gujarat.
PPE manufacturer Mallcom India Ltd has invested over Rs 100 crore in a new manufacturing facility at Sanand in Gujarat to expand domestic production capacity, strengthen localisation and reduce dependence on imports. The Sanand plant is the company's 17th manufacturing unit and produces items such as NBR and PU gloves, safety helmets and bump caps. It also supports local production of Protech PU gloves and a domestic tariff area unit at the site.
June 5, 2026
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Foreign exchange reserves rise as foreign currency assets gain, while gold reserves decline and SDRs stay unchanged.
India's foreign exchange reserves increased by USD 938 million to USD 682.321 billion in the reporting week, driven mainly by a rise in foreign currency assets to USD 546.148 billion. Gold reserves declined to USD 112.6 billion, while Special Drawing Rights remained unchanged at USD 18.747 billion. India's reserve position with the IMF rose marginally to USD 4.826 billion.
June 5, 2026
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RBI policy stance unchanged as rupee-support measures and weaker growth outlook drive profit-taking in equities
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June 5, 2026
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Seafood export growth strategy focuses on quality, value-added products, trade access, and stronger export infrastructure.
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Unsecured personal loans with flexible repayment, digital application, and eligibility-based pricing for varied financial needs.
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Money laundering investigation power survives without a predicate FIR, as tax settlement immunity does not bar PMLA proceedings.
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June 5, 2026
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Foreign capital access expands as investment limits ease, government securities widen and hedging support is extended for overseas borrowing.
Foreign capital inflows are being encouraged through wider access to government securities and equity instruments, along with the removal of several investment restrictions for overseas investors. The basket of specified government securities under the Fully Accessible Route is being expanded to include all new issuances of 15-year, 30-year and 40-year tenor G-secs, while short-term investment, concentration and individual security limits for Foreign Portfolio Investors under the General Route are being removed. Investment limits for Non-Resident Indians and Overseas Citizens of India in listed equity instruments are also being raised, and the facility is extended to all individual Persons Resident Outside India.

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Customs, DGFT & SEZ

Union Minister of Commerce & Industry, Shri Piyush Goyal, Launches BHAVYA Portal

June 8, 2026

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BHAVYA Scheme to Promote Competitive Development of Industrial Parks Across States: Shri Piyush Goyal

Government’s Focus on Infrastructure, Reforms and Digital Connectivity Has Created Strong Foundation for Growth: Shri Goyal

BHAVYA Parks to Include Dedicated Spaces for Startups, Deep-Tech, R&D and Innovation-Led Enterprises: Shri Piyush Goyal

Modern Testing Facilities to Be Developed in BHAVYA Parks in Partnership with BIS, EIA and FSSAI: Shri Goyal

NICDC to Lead Implementation and Monitoring of BHAVYA Through Dedicated Digital Platform

In a significant step towards the operationalisation of the Bharat Audyogik Vikas Yojana (BHAVYA), Union Minister of Commerce & Industry, Shri Piyush Goyal, launched the BHAVYA Portal today in New Delhi.

Addressing the gathering, Shri Piyush Goyal said that the BHAVYA Scheme will adopt a competitive model under which States will be encouraged to submit detailed project proposals highlighting their industrial strengths, availability of land, investor interest and sectoral potential. He said the Government will work closely with industry to identify the most suitable sectors and infrastructure requirements for each location, whether for chemicals, manufacturing, data centres or other industries. He added that investors would be able to access detailed information on industrial parks through digital platforms, including land availability, connectivity and surrounding infrastructure, enabling them to make informed investment decisions. The scheme will seek to ensure that industrial parks are designed according to the specific needs of different sectors and investors, making them more attractive destinations for domestic and global investments.

The Minister said that over the past decade, the Government has focused on creating an enabling environment for economic development and social welfare through investments in roads, highways, railways, metros, airports, ports, power infrastructure, water availability and digital connectivity. He highlighted reforms such as GST, the Insolvency and Bankruptcy Code, labour reforms, expansion of 5G connectivity, promotion of startups, support for investments, and free trade agreements with complementary economies to promote trade, investment and technology transfer.

Shri Goyal said that India is increasingly being viewed as a trusted partner and an attractive investment destination because of its scale, growing demand, young talent and youthful energy. He added that the Government remains committed to creating opportunities for businesses, industry, farmers, fishermen, startups and women entrepreneurs.

Announcing the BHAVYA Scheme, the Minister said that it aims to develop 100 industrial parks across the country to promote large-scale job creation through greater investments. He said the parks will be developed in different sizes, ranging from 25 acres in hilly regions, smaller Union Territories and Northeastern States, to between 100 and 500 acres in mid-sized States and regions, and up to 1,000 acres in locations closer to cities and towns, depending on need assessment and the commitment of States.

He informed that land for the parks will be provided by the State Governments, while the Government of India will support infrastructure creation through the National Industrial Corridor Development Corporation (NICDC), which will partner with States under a 51:49 model. He said the objective is to create plug-and-play industrial parks focused on industries best suited to specific locations.

The Minister said that the parks will provide infrastructure including assured water and power supply, road and rail connectivity, land titles, digital single-window clearances and, where feasible, air connectivity. He added that the Government will also explore earmarking areas for startups, deep-tech enterprises, technology-oriented businesses, research and development activities, and innovation-led enterprises.

Shri Goyal said that efforts will be made to establish modern testing facilities in partnership with institutions such as BIS, Export Inspection Agency and FSSAI so that investors have access to advanced testing infrastructure within the parks.

He stated that the scheme is intended to help investors commence operations more quickly by reducing the time spent on land acquisition and approvals. He added that environmental clearances and industry-specific requirements would be planned in consultation with relevant authorities and based on the suitability of each location.

The Minister said that the Government is also open to developing dedicated areas for Global Capability Centres (GCCs), worker housing and social infrastructure within the parks. He further said that the possibility of creating dedicated international enclaves in partnership with countries such as Japan, Singapore, the Republic of Korea and Switzerland could be explored to facilitate investment and provide a familiar environment for expatriate professionals working in India.

Referring to his own experience as an entrepreneur, Shri Goyal said that businesses earlier faced significant challenges in obtaining industrial land and approvals. He said the BHAVYA Scheme seeks to address these challenges through transparent systems, digital platforms and better availability of information for investors. He also emphasized the importance of mapping industrial parks through digital and satellite-based platforms so that investors can access information on land availability, connectivity and infrastructure remotely.

The Minister expressed confidence that the ₹34,000 crore earmarked by the Central Government for the development of 100 industrial parks would catalyse substantial investments, generate direct and indirect employment, strengthen Centre-State partnership and support industrial growth across the country.

Shri Piyush Goyal said that the launch of the BHAVYA Scheme comes at a time when the Government is marking 12 years under the leadership of Prime Minister Shri Narendra Modi. He said that the period has been marked by structural reforms, infrastructure development, digital connectivity, ease of doing business initiatives, and efforts to make India one of the top three economies in the world by 2047.

He informed that applications received between 1 June and 31 July would be considered for the first phase of 20 parks, while a further 30 parks would be taken up based on applications received up to 30th September. Subsequent phases would be implemented based on the experience and learnings from the initial rounds.

Shri Goyal said that the BHAVYA Scheme is intended to promote investments across India and support the vision of Viksit Bharat 2047. He expressed confidence that the initiative would contribute to a new phase of industrial development and business growth in the country.

Approved by the Union Cabinet with an outlay of ₹33,660 crore, BHAVYA is the Government's flagship programme for the development of 100 investment-ready, world-class industrial parks over a period of six years. The Scheme aims to create integrated industrial ecosystems featuring multimodal connectivity, reliable utility infrastructure, digital governance systems, worker-support facilities, and sustainable development features.

The National Industrial Corridor Development Corporation (NICDC), designated as the Project Management Agency for the Scheme, is responsible for its implementation and monitoring. Drawing upon its extensive experience in developing industrial corridors and integrated industrial infrastructure across the country, NICDC has developed the BHAVYA Portal as a comprehensive digital platform to support the entire project lifecycle under the Scheme.

The operational guidelines for BHAVYA were released by the Department for Promotion of Industry and Internal Trade (DPIIT) in May 2026, and the launch of the portal marks the next critical step in translating policy into implementation.

The portal will serve as the single digital interface for end-to-end implementation of the Scheme, facilitating the submission of Detailed Project Report (DPR) proposals, project appraisal and evaluation, and real-time monitoring of implementation progress. It will support the challenge-based competitive selection framework under BHAVYA by providing a structured and transparent mechanism for assessing proposals from States, Union Territories, and implementing agencies, while enabling efficient coordination among stakeholders throughout the project lifecycle.

The launch event was chaired by Shri Piyush Goyal, and attended by Secretary, DPIIT, Shri Amardeep Singh Bhatia, and CEO & MD, NICDC, Shri Rajat Kumar Saini, along with representatives from State and Union Territory Governments, industry associations, Export Promotion Councils, banks and financial institutions, master developers, and MSMEs.

Secretary, DPIIT, Shri Amardeep Singh Bhatia, emphasised that robust digital systems are essential for effective programme management and informed decision-making at scale. He noted that the portal, by serving as a single digital interface across all stages of project submission, evaluation, monitoring, and reporting, would significantly strengthen implementation of the Scheme and enable faster operationalisation of industrial parks across the country.

CEO & MD, NICDC, Shri Rajat Kumar Saini, highlighted that the platform had been designed to support the complete lifecycle of projects under BHAVYA. He stated that it would facilitate efficient coordination among stakeholders, provide real-time visibility into project progress, and strengthen transparency and accountability in implementation.

The launch was followed by an interaction between Shri Piyush Goyal and industry stakeholders, providing an opportunity to discuss India's next phase of industrial infrastructure development, investment facilitation, ease of doing business, logistics efficiency, and the role of integrated industrial parks in deepening domestic manufacturing capabilities and strengthening India's integration with global value chains.

The launch of the BHAVYA Portal follows closely on the Cabinet approval of the Scheme, the release of its operational guidelines, and structured consultations with States and Union Territories, reflecting the pace and commitment with which the Government is advancing one of India's most ambitious industrial infrastructure programmes.

The Scheme is expected to attract substantial domestic and foreign investment, generate large-scale industrial employment, and contribute significantly to India's emergence as a globally competitive manufacturing destination.

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