General Awareness

BUSINESS AND ECONOMY - February 2019

Feb 2019

Jul 15, 2026

First Trial Index of Services Production Published

India released its first trial index of services production, providing a monthly snapshot of short-term trends in 19 formal services sub-sectors. The index uses 2024–25 as the base year and covers data for April 2026. It aims to help policymakers and businesses gauge service activity in areas such as trade, finance, transport, and information technology. The sub-sectors together account for nearly 60 percent of India’s services sector, signaling the trajectory of services growth ahead of the annual GDP release. The release signals a new benchmark for timely service-sector data and complements existing industrial indicators. It will be published monthly with commentary from the NSO.

Base year: 2024–25
Data coverage: April 2026, 19 sub-sectors
Scope: roughly 60% of services sector
Purpose: inform policy and business decisions
Publication: monthly with NSO commentary

Jul 14, 2026

ICAI Global Orbit Summit 2026 inaugurated in New Delhi

New Delhi, July 2026 — The first ICAI Global Orbit Summit 2026 was inaugurated in New Delhi. The event is themed 'ICAI Global Orbit: From GCCs to Global Leadership' and focuses on the growing role of Global Capability Centres (GCCs). It is planned to continue across six more Indian cities. The summit brings together accounting, finance, and technology professionals to discuss governance, leadership, and cross-border collaboration. Organisers emphasise strengthening India’s presence in global professional services and advancing innovation in auditing and financial management. The gathering aims to foster international links and professional growth within the Indian ecosystem.

Inauguration in New Delhi during July 2026
Theme: 'From GCCs to Global Leadership'
Focus on Global Capability Centres (GCCs)
Spread to six more Indian cities
Participants include accounting and tech professionals
Aims to boost India’s global professional services footprint

Submer Group announces USD 2 billion MP semiconductor and data center project

July 2026 — Spain’s Submer Group announced an investment of 2 billion in Madhya Pradesh’s semiconductor sector. The plan includes developing a semiconductor facility and a data centre in the state. The investment is expected to generate around 5,000 direct employment opportunities and support India’s electronics manufacturing ecosystem. Officials described the project as a milestone for MP’s industrial growth and for expanding domestic chip production capacity. The announcement signals stronger collaboration between international investors and Indian state governments to bolster technology manufacturing in central India.

Investment of 2 billion in Madhya Pradesh
Includes semiconductor facility and data centre
Expected to create about 5,000 direct jobs
Aims to boost India’s electronics manufacturing
Strengthens MP’s industrial growth outlook
Demonstrates international investment in Indian tech sector

Bharat Tex 2026 held at Bharat Mandapam; aims to boost textile sector

New Delhi, 14–17 July 2026 — Bharat Tex 2026, the third edition of the global textile event, was held at Bharat Mandapam in New Delhi. Union Textiles Minister Giriraj Singh inaugurated the expo, which gathered thousands of buyers and industry representatives. The fair showcased India’s strengths in textiles, focusing on sustainability, technology, fashion, and international trade. Delegates discussed supply chains, export opportunities, and innovative fabric processes. Exhibitors demonstrated modern machinery and eco-friendly techniques. The event highlighted India’s growing role in global textile markets and offered opportunities for partnerships with foreign firms and investors.

Event runs from 14 to 17 July 2026
Inaugurated by Union Textiles Minister Giriraj Singh
Thousands of buyers and industry reps attended
Focus on sustainability, technology, fashion, trade
Discussed supply chains and export opportunities
Showcased advanced textile technologies

Jul 12, 2026

RBI approves Mahesh Muralidhar Pai as MD & CEO of South Indian Bank

The Reserve Bank of India approved the appointment of Mahesh Muralidhar Pai as the new Managing Director and Chief Executive Officer of South Indian Bank, based in Thrissur, in July 2026. He will assume the post for a three‑year term beginning on 1 October 2026, subject to regulatory clearances. The selection aims to provide seasoned leadership as the bank navigates digital transformation, risk management, and growth in retail lending. Pai has held senior roles in other financial institutions and will lead strategic initiatives including technology upgrades, data governance, and credit quality improvement. South Indian Bank continues to pursue expansion in urban and rural markets while improving efficiency and customer service.

RBI approved appointment of Mahesh Muralidhar Pai as MD & CEO
Term starts 1 October 2026 for three years
Position based in Thrissur, Kerala
Focus on digital transformation and risk management
Pai has prior leadership roles in other banks

Jul 09, 2026

India as a global GCC hub for retail and FMCG

As of 8 July 2026, India is identified as the world’s largest hub for retail and FMCG Global Capability Centers (GCCs). The country hosts 180 GCCs employing more than 2.72 lakh professionals. Bengaluru, Delhi-NCR and Hyderabad are among the major GCC hubs. These centers provide back-office services, analytics, customer support and product development for global brands. The growth reflects India’s expanding role in global business services, technology-enabled operations, and the demand for skilled professionals in a competitive, cost-effective environment. Policy support for digital infrastructure and a large talent pool underpin ongoing GCC expansion across major Indian cities.

Status: India largest GCC hub for retail and FMCG
Number of GCCs: 180
Employment: over 2.72 lakh professionals
Major hubs: Bengaluru, Delhi-NCR, Hyderabad
Functions: back-office, analytics, customer support, product development
Implication: strengthens India’s BPO and tech services ecosystem

Jul 07, 2026

First Areko cherries and Scentrose plums from J&K exported to UAE

Jammu and Kashmir achieved its first-ever export shipment of premium Areko cherries and Scentrose plums to the United Arab Emirates. The initiative was facilitated by the Agricultural and Processed Food Products Export Development Authority (APEDA) and marks a milestone for the territory’s horticulture sector. Officials say the shipment demonstrates growing international market access for local farmers and reinforces diversification of agricultural exports. Trade analysts expect this initial export to foster longer-term opportunities in the UAE and beyond, contingent on maintaining fruit quality, packaging standards, and reliable logistics channels.

First-ever export of Areko cherries and Scentrose plums from J&K
Facilitated by APEDA
Aims to broaden international market access
Potential for larger shipments with quality and logistics
Boosts diversification of J&K horticulture exports

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