General Awareness

BUSINESS AND ECONOMY - November 2023

Nov 2023

Jul 06, 2026

India and Mali launch India‑Mali Export Promotion Forum in Bamako

India and Mali inaugurated the first India‑Mali Forum for the Promotion of Exports in Bamako, aiming to strengthen bilateral trade and attract investment. The forum targets priority sectors including cotton, textiles, mining, energy, agro‑industry, pharmaceuticals, and infrastructure. Officials described the platform as a strategic step to diversify trade and deepen economic cooperation. The collaboration aligns with broader African engagement and seeks to enhance market access, logistics, and investment flows between the two nations, leveraging complementarities in natural resources, manufacturing, and regional value chains.

Event: India‑Mali Export Promotion Forum launched in Bamako
Focus sectors: cotton, textiles, mining, energy, agro‑industry, pharmaceuticals, infrastructure
Objective: strengthen bilateral trade and investment
Context: part of India’s Africa engagement
Impact: aims to diversify trade and unlock export potential

Jul 05, 2026

Assam becomes first Indian state to commercially produce Matcha tea

Assam became the first Indian state to commercially produce Matcha tea on 3 July 2026. The first batch, 5 kilograms, was produced at the Chota Tingrai Tea Estate in Tinsukia district and sold at the Guwahati Tea Auction Centre to a Guwahati buyer for Rs 3,000 per kilogram. Matcha is a powdered green tea from shade grown leaves, a product of Japan now produced in Assam through a decade long collaboration with Japanese partners. This marks a new product line for Assam’s tea economy, which has long focused on black and orthodox teas.

Date: 3 July 2026
Location: Chota Tingrai Tea Estate, Tinsukia
Product: Matcha tea, first commercially produced in India
Market: Guwahati Tea Auction Centre
Price: Rs 3,000 per kilogram

Jul 03, 2026

NPCI-HSBC tie enables real-time FX for cross-border UPI

NPCI announced a strategic partnership with HSBC India to enable real-time foreign exchange settlement for cross-border UPI payments. The UPI network is already live in nine countries, including Singapore, UAE, Nepal, Bhutan, Mauritius, France, Sri Lanka, Qatar and Cambodia. The collaboration will deliver real-time FX pricing via direct API integration, allowing users to see exact INR costs at the point of transaction when shopping abroad. This further expands the international footprint of UPI, providing greater transparency and smoother cross-border shopping for Indian travellers and workers.

HSBC India partners with NPCI for FX settlement
Real-time FX pricing via API
UPI live in 9 countries worldwide
Enhances cross-border shopping with transparency
Supports expansion of India's digital payments footprint

Global green methanol supply deal seals with Mitsubishi Gas Chemical

India signed its first binding global green methanol supply deal on 3 July 2026. ACME Green Molecules, part of the ACME Group, entered a long-term agreement with Mitsubishi Gas Chemical Company for the supply of 100,000 tonnes per annum of green methanol, valued at about USD 1 billion. The green methanol will be produced at ACME’s Paradip facility in Odisha, marking the group’s third major investment in the state. The deal aligns with EU rules on renewable fuels, and supports decarbonisation goals across industrial markets where India seeks to expand exports and energy security.

Binding green methanol deal signed on 3 July 2026
100,000 tonnes per annum; ~USD 1 billion
Production at Paradip, Odisha
ACME Green Molecules and Mitsubishi Gas Chemical partner
Supports EU compliance and India’s export aims

Jul 02, 2026

Eurobank Launches UPI Cross-Border Remittance to India

In June 2026, Eurobank launched a UPI‑based cross‑border remittance service enabling money transfers from Greece to India. The move makes Eurobank the first European bank to activate such a UPI facility, developed in collaboration with NPCI International Payments Limited (NIPL), the global arm of the National Payments Corporation of India. The service aims to reduce transfer times and costs for Indian residents with accounts in Greece and to expand digital payment connectivity between Europe and India. Market observers expect the initiative to catalyse further adoption of UPI across international remittance corridors.

Eurobank becomes first European bank with UPI-based Greece–India remittance.
Collaboration with NPCI International Payments Limited (NIPL).
Aims to lower transfer times and costs for users.
Expands India's digital payment reach in Europe.

Jun 30, 2026

HDFC Bank Names Rajiv Kumar as Part-Time Chairman

HDFC Bank announced the appointment of Rajiv Kumar, former Finance Secretary and former Chief Election Commissioner, as part-time chairman in June 2026. The move marks a leadership shift at India’s largest private sector lender. Kumar’s extensive governance and financial experience is expected to strengthen the bank’s governance framework and risk management. The appointment received board and regulatory approvals in June 2026, and he will balance duties with other roles while guiding strategy and stakeholder relations. The bank stated the change would support continuity and enhanced oversight in a dynamic banking environment.

Appointment: Rajiv Kumar as part-time chairman
Past roles: Finance Secretary, Chief Election Commissioner
Date: June 2026
Expected impact: stronger governance and risk oversight
Context: leadership change at HDFC Bank
Note: regulatory approvals completed

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