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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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Bilateral trade agreement negotiations advance as India and the United States revisit tariffs, market access and trade-facilitation terms.
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
The Reserve Bank of India kept the policy repo rate unchanged at 5.25 per cent and retained a neutral stance while lowering its growth projection and signalling higher inflation pressures. It also announced measures to attract foreign capital and support the rupee, including tax relief for eligible foreign investors in government securities, concessional foreign-currency deposit terms for non-resident Indians, and subsidised hedging costs for specified overseas borrowing and FCNR(B) inflows.
June 5, 2026
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Foreign capital inflow measures and forex liquidity support lift the rupee as policy rates remain unchanged.
The rupee appreciated after the Reserve Bank announced measures to support foreign capital inflows and strengthen forex liquidity, while stating that foreign exchange reserves provide a sufficient buffer against external shocks. The policy stance remained unchanged, with the Monetary Policy Committee retaining the repo rate at 5.25 per cent with a neutral stance despite revised inflation and growth projections. The measures included expansion of the Fully Accessible Route, removal of FPI concentration limits, extension of FCNR(B) hedging support, a PSU ECB swap window, and restoration of the export realisation period to nine months.
June 5, 2026
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Marine product exports face a quality-led growth push through wider market access and trade support measures.
Marine product exports should be expanded through higher production, stronger quality standards and wider market reach, with the sector positioned for substantial growth over the next five years. The plan emphasizes reassessing current performance, reducing dependence on a small group of destinations and identifying new opportunities in the global seafood trade. Support is linked to the PM Matsya Sampada Yojana and recent free trade agreements covering multiple countries.
June 5, 2026
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Seafood export growth strategy focuses on quality, value-added products, trade access, and stronger export infrastructure.
Seafood export policy is being pushed toward a higher-value, export-led model, with emphasis on raising production, improving quality, and expanding value-added processing. The stated objective is to expand seafood exports substantially over the next five years, while exporters are urged to reduce dependence on raw shrimp shipments and build branded value-added goods. Free trade agreements are expected to improve market access, alongside infrastructure support for inland states and export logistics reforms.
June 5, 2026
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Inflation concerns and higher rate expectations weigh on gold prices as the reserve bank raises its inflation outlook.
Gold prices weakened as elevated oil rates, geopolitical tensions in West Asia, and expectations of higher global interest rates ressed investor sentiment. Market participants also tracked the US dollar and upcoming US labour data for direction on bullion prices amid inflation concerns. The Reserve Bank of India raised its retail inflation projection for 2026-27, citing higher global energy prices feeding into domestic fuel costs, and lowered its FY27 growth expectation.
June 5, 2026
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Unsecured personal loans with flexible repayment, digital application, and eligibility-based pricing for varied financial needs.
Bajaj Finance Personal Loan is described as an unsecured lending product offering loan amounts from Rs. 40,000 to Rs. 55 lakh with repayment tenures of up to 108 months. The process is fully digital, with standard KYC and income documents required, while eligibility and interest rates depend on creditworthiness, income stability, debt obligations, and CIBIL score. An EMI calculator is provided to estimate monthly instalments, total interest, and total repayment before applying, and disbursement is stated to occur typically within 24 hours of approval, subject to verification and eligibility.
June 5, 2026
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Money laundering investigation power survives without a predicate FIR, as tax settlement immunity does not bar PMLA proceedings.
The Kerala High Court upheld the Enforcement Directorate's power to continue a money laundering investigation under the Prevention of Money Laundering Act despite the absence of a registered FIR or complaint for the scheduled offence at the stage of civil inquiry powers. It refused to quash the ECIR and summons, holding that such action is aimed at ascertaining the existence of proceeds of crime. The Court further held that immunity under the Income Tax settlement framework does not extend to PMLA proceedings or other central laws.
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.
June 5, 2026
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Capital inflows and inflation outlook shape RBI policy, with rates unchanged and outflow restrictions ruled out.
The Reserve Bank of India said India's economic situation remains strong and that recent policy measures are expected to support higher capital inflows and a healthy balance of payments. No target has been set for inflows, and no measure is under consideration to restrict capital outflows. The 4 per cent inflation target remains operative, while the central bank said it would raise rates only if inflation becomes persistent and generalised.
June 5, 2026
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Foreign investment liberalisation expands equity access, revises G-Sec investment rules, and exempts certain G-Sec income from tax.
Foreign investment in Indian capital markets is being liberalised through measures intended to deepen the G-Sec market, expand access for individual Persons Resident Outside India and Foreign Portfolio Investors, and reduce operational and compliance frictions. Individual PROIs will be permitted to invest in equity instruments of listed Indian companies through the Portfolio Investment Scheme, with the individual investment cap raised from 5% to 10% in any company and the aggregate cap for all individual PROIs raised from 10% to 24%. The Foreign Exchange Management (Non-Debt Instruments) (Third Amendment) Rules, 2026 are being notified to implement this framework.
June 5, 2026
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Rupee support measures: RBI holds repo rate steady and offers tax, swap, and hedging incentives for foreign inflows.
The Reserve Bank of India kept the policy repo rate unchanged at 5.25 per cent and maintained a neutral stance while announcing measures to attract foreign capital and support the rupee. The package removed tax on interest income and capital gains for eligible foreign investors in government securities, broadened access to sovereign bonds under the foreign investment route, and provided concessional foreign-currency swap and hedging support for specified overseas borrowing and non-resident deposit arrangements.
June 5, 2026
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Foreign exchange reserves remain a strong buffer, with policy support aimed at orderly market conditions and balance of payments stability.
Foreign exchange reserves were described as healthy at USD 682.3 billion, with import cover of about 11 months and external debt coverage of 89.1 per cent. The reserves were presented as a strong buffer against external shocks, alongside the Reserve Bank's readiness to use regulatory and market-based instruments to preserve orderly market conditions if required. Policy support for the balance of payments was linked to measures such as trading partner agreements, full foreign direct investment in insurance, energy transition initiatives, easing of foreign direct investment restrictions, and liberalisation of the external commercial borrowing framework.

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ESDS Software Solution Launches Swaraj Cloud: India’s AI-Autonomous Architect Cloud Platform

July 2, 2026

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ESDS Software Solution Limited launches Swaraj Cloud, India’s AI-autonomous architect cloud platform built, and operated entirely on Indian soil. Designed for the enterprises, banks, government bodies and regulated industries that cannot afford to keep building India’s digital future on infrastructure governed by foreign law, Swaraj Cloud delivers the compute power, AI capability and developer tooling of a global hyperscaler with a key foundational difference: servers, data, and decisions are designed to remain under Indian ownership and Indian legal jurisdiction.

Mumbai, India, 2nd July 2026: ESDS Software Solution Ltd., India's Sovereign End-to-End AI Ecosystem Provider, today announced the launch of Swaraj Cloud an AI-Autonomous Sovereign Cloud Platform built, operated entirely on Indian soil. Running on ESDS-owned physical infrastructure housed in Indian Data Centers and governed under Indian jurisdiction, Swaraj Cloud delivers enterprise-grade compute, AI, security and developer capabilities with 100% Indian data residency and minimal foreign infrastructure dependency.

The platform addresses a regulatory and operational gap that has grown more acute with the enforcement of the Digital Personal Data Protection (DPDP) Act 2023, MeitY's Cloud Selection Framework for government workloads and RBI cloud guidelines governing data residency in the banking sector. Indian enterprises in regulated industries banking, government, healthcare and public services have been required to meet increasingly stringent data sovereignty obligations while operating on infrastructure not subject to Indian legal jurisdiction. Swaraj Cloud is built to resolve that gap at the infrastructure level, not through contractual overlays or data processing agreements.

"India stands at the defining inflection point of its digital century. Over the last decade, India has built one of the world's largest Digital Public Infrastructure ecosystems, yet the foundation powering our digital economy continues to rely on foreign cloud platforms, foreign AI ecosystems, and imported compute. Today, over 70% of India's workloads continue to run on foreign infrastructure , resulting in significant economic outflows and strategic dependence on technologies beyond our control. The cost of inaction as a nation is reflected in geopolitical risks, compliance obligations and the increasing need for digital self-reliance.

It is this vision that inspired the creation of Swaraj Cloud - India's AI Autonomous Architect Cloud Platform, built in India, governed in India, and engineered for global scale. Purpose-built to deliver sovereign cloud capabilities through autonomous intelligence, hyper-scale architecture and AI-driven automation, Swaraj Cloud harnesses a comprehensive sovereign AI digital IT ecosystem that brings together 30+ services and 80+ integrated intelligent capabilities, enabling organizations to scale their digital transformation through a single, unified sovereign platform.

A defining capability of Swaraj Cloud is its Prompt-to-Production architecture , powered by an integrated Solution Generator that enables organizations to transform a business requirement into a production-ready live environment.

Built on five foundational pillars - AI Intelligence, Scalability, Security, Compliance and Data Sovereignty - Swaraj Cloud seamlessly unifies Cloud Service Provider (CSP) and Managed Service Provider (MSP) capabilities into a single sovereign ecosystem.

The path ahead for India lies unequivocally in Digital Sovereignty , where our data, cloud, AI, compute, cybersecurity and critical digital infrastructure are developed, governed and continuously innovated within India. This is a collective national responsibility and ESDS is committed to enabling this vision by delivering a sovereign end-to-end AI and IT ecosystem that empowers large enterprises, governments and BFSI institutions. Our purpose extends to enabling the AtmaNirbhar Bharat mission and building sovereign digital foundations through platforms like Swaraj Cloud that will enable India's Sovereign AI future and strengthen its leadership in the age of Artificial Intelligence"— Piyush Somani Promoter, Managing Director and Chairman ESDS Software Solution Ltd.

ESDS owns and operates the physical servers, storage and networks that Swaraj Cloud runs on. It is not a rebranded or resold foreign cloud service. Workloads processed on Swaraj Cloud are designed to remain within Indian borders, under Indian law, seeking to minimise foreign legal exposure on data.

Prompt to Production: Redefining How Cloud Infrastructure Is Built The defining capability of Swaraj Cloud at launch is its Prompt-to-Production Solution Generator, a deployment engine designed to be a distinctive offering among Indian cloud platforms. An enterprise describes its requirement in plain language or through a guided input wizard. Swaraj Cloud's AI layer translates that input into a validated cloud architecture, maps it against applicable compliance frameworks including BFSI regulatory requirements, generates a complete Bill of Materials with line-item INR pricing and auto-deploys the entire environment in a single, uninterrupted automated run.

The complete workflow runs across six automated stages: requirements input, architecture recommendation with a visual preview, Bill of Materials generation in INR, compliance mapping and validation, auto-deployment of all components in sequence and a live billing preview the moment the environment goes live. The enterprise sees the architecture before a single resource is provisioned. It sees the cost before a single rupee is charged. And it receives a fully operational, compliance-validated cloud environment without a single infrastructure configuration step performed manually.

For Indian enterprises where procurement cycles, infrastructure provisioning timelines and compliance validation have historically been multi-week exercises, Prompt-to-Production is designed to compress that journey into minutes. It is a highly differentiated capability of the platform at launch and a clear expression of Swaraj Cloud's AI-autonomous design philosophy.

"Every regulated enterprise in India has been navigating a difficult trade-off, capable cloud infrastructure that does not meet sovereignty requirements, or sovereign infrastructure that does not meet capability requirements. Swaraj Cloud is built to remove that trade-off. With Prompt-to-Production, built-in compliance monitoring, and a sovereign AI platform, enterprises now have a single platform that meets regulatory obligations and operational demands without compromise." Komal Somani, Whole-time Director, ESDS Software Solution Ltd.

Beyond the Solution Generator, Swaraj Cloud launches with a service portfolio spanning the full enterprise cloud stack. The Enlight AIOps platform provides GPU-enabled virtual machines for AI model training, managed Jupyter Notebooks, fine-tuning-as-a-service, automated MLOps pipelines, model governance, drift detection, built-in AI safety controls and a [library of 20+ pre-built industry models all running on Indian infrastructure. Infrastructure services include a multi-hypervisor IaaS platform with Software-Defined Networking, DDoS protection and elastic IP management; Managed Kubernetes Service; an OCI-compliant Container Registry with automated vulnerability scanning; and agentless VM backup with point-in-time restore. Security operations are supported by a built-in SIEM platform with MITRE ATT&CK threat categorisation and CERT-In breach notification integration. Compliance-as-a-Service is embedded natively into the platform providing continuous monitoring against PCI DSS, NIST and TSC (Trust Service Criteria) frameworks, automated compliance scoring across all provisioned resources and one-click audit evidence export. Billing is managed entirely in Indian Rupees, with real-time usage dashboards, resource-level cost breakdowns and an in-platform billing calculator. A cloud marketplace with one-click deployment and a developer platform with multi-language SDKs, CLI tooling and an interactive API documentation portal complete the launch offering.

Swaraj Cloud is available immediately to Indian enterprises across Government, PSU, BFSI and regulated sectors. The platform is MeitY-empanelled and DPDP Act-aligned. Enterprises can access the platform at www.esds.co.in/swaraj-cloud or by contacting ESDS at 1800-209-3006.

About ESDS Software Solution Ltd.

ESDS Software Solution Ltd. Is India's Sovereign End-to-End AI Ecosystem Provider headquartered in Nashik, Maharashtra. ESDS operates Tier III certified data centers and serves enterprises across Government, BFSI, Healthcare and regulated industries with cloud infrastructure, AI platforms, cybersecurity solutions and managed services. Swaraj Cloud is ESDS's sovereign enterprise cloud platform. For more information, visit www.esds.co.in.

Important Disclosure ESDS Software Solution Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a Draft Red Herring Prospectus (“DRHP”) with the Securities and Exchange Board of India (“SEBI”). The DRHP is available on the website of the Company at www.esds.co.in, the website of SEBI at www.sebi.gov.in, as well as on the websites of the Book Running Lead Manager, DAM Capital Advisors Limited, the website of the National Stock Exchange of India Limited at www.nseindia.com, and the website of BSE Limited at www.bseindia.com, respectively. Investors should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the Red Herring Prospectus which may be filed with the Registrar of Companies, Maharashtra at Mumbai, in future, including the section titled “Risk Factors”. Potential investors should not rely on the DRHP filed with SEBI in making any investment decision.

(Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI PWR PWR

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