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BUSINESS AND ECONOMY - July 2024

Jul 2024

Sep 27, 2025

UAE-India Business Council Enters into Strategic MoUs to Deepen Bilateral Trade

The UAE-India Business Council entered into strategic agreements to deepen industry engagements and amplify trade and investments between India and the UAE.
As part of the three agreements, UIBC and the UAE-India CEPA Council (UICC), committed to closer institutional collaboration, ensuring greater coherence in advancing objectives of the UAE-India CEPA, and deepening the UAE-India economic partnership.
UIBC and Services Export Promotion Council (SEPC) entered into a pact for deepening cooperation across priority services sectors, including logistics, healthcare, IT/ITES, education, tourism, and engineering, while promoting B2B and B2G engagements and addressing market access challenges.

Anand Piramal Named Chairman of Piramal Finance

Anand Piramal appointed as the Chairman of Piramal Finance, stepping into the role after the exit of his father, Ajay Piramal, following the recent merger of Piramal Enterprises. This leadership transition marks a significant milestone for the Piramal Group's non-banking financial arm, now headed by Anand Piramal. The change was ratified during the first board meeting post-merger, which was approved by the National Company Law Tribunal (NCLT) on September 10.
This transition represents a generational shift in leadership and a strategic reshaping of Piramal Finance amid evolving market dynamics. Anand Piramal's elevation aligns with the group's broader vision of digital-first financial services and innovation-driven growth in the NBFC sector.

Botanical Survey of India Gets a New Director, the First Mycologist to Head the Institute

The Botanical Survey of India (BSI) has a new director. Kanad Das is the first mycologist to head the premier research institute under the Ministry of Environment Forest and Climate Change (MoEFCC).
Das, who took charge as the 13^th director of BSI, is an expert on the taxonomy of fungi. His scientific achievements include the discovery of two new genera and 165 new species of wild mushrooms in India.

Sudhanshu Vats Named as New Chairman of ASCI

Sudhanshu Vats, Managing Director, Pidilite Industries Limited, named as new chairman of the Advertising Standards Council of India (ASCI) at its 39^th annual general meeting (AGM) in September 2025.
With ASCI, India's self-regulatory body for advertising, completing 40 years in October, the appointment came in a milestone year.

Government Imposes Import Curbs on Plain Silver Jewellery till March 2026

The government, in September 2025, imposed import restrictions on plain silver jewellery till March 31 next year, according to a notification.
The move is aimed at curbing misuse of free trade agreements (FTAs) and address large-scale imports of silver in the guise of finished jewellery.
Import policy has been amended from free to restricted with immediate effect till March 31, 2026," the Directorate General of Foreign Trade (DGFT) said in a notification.
Goods under the restriction category need a licence from the government.
The imports circumventing the provisions of FTA were adversely affecting domestic manufacturers and posing a challenge to employment in the jewellery sector, an official said.

Sep 26, 2025

Cochin Shipyard Moves Towards Atmanirbhar Bharat ; Signs MoU with HD Korea for Long-Term Shipbuil...

Cochin Shipyard Limited (CSL) moves towards the Atmanirbhar Bharat and signed a Memorandum of Understanding (MoU) with HD Korea Shipbuilding & Offshore Engineering (HD KSOE) for a long-term strategic collaboration in shipbuilding.
The MoU was exchanged during the landmark event "Samudra se Samriddhi – Transforming India's Maritime Sector", inaugurated by the Hon'ble Prime Minister Shri Narendra Modi in September 2025, at Bhavnagar, Gujarat.

US President Donald Trump Signs Executive Order Approving TikTok Deal with Majority US Ownership

President Donald Trump signed an executive order approving a deal that could keep TikTok alive in the U.S, easing national security concerns and paving the way for American ownership of the popular app. TikTok's Chinese parent company will retain only a minority stake, while U.S. investors are set to hold about 80 per cent under a new joint venture.
The platform, with 170 million U.S. users, including 15 million Trump followers, has been under pressure since a 2024 law required its parent company to sell or face a ban. Trump has credited the app with helping boost his re-election campaign.
Governance of the new venture will lean heavily American, with its Chinese parent company excluded from key security decisions.

India, Australia Signs Organic Products Mutual Recognition Arrangement

India and Australia, in September 2025, signed a mutual recognition agreement to facilitate the shipment of organic products between the two countries. The pact, which was part of the trade deal, will help in the shipment of unprocessed plant products, excluding seaweed, aquatic plants, and greenhouse crops, processed food and wine.
Commerce secretary Sunil Barthwal said that with organic produce commanding 30-40% higher prices, farmers benefit from improved livelihoods. "Organic products must not be so-called organic but certified organic, with every stakeholder in the chain taking pride in maintaining that integrity," he said. Last year, India's organic exports to Australia were estimated at $9 million with Australian officials highlighting opportunities in cereals, tea, spices, beverages and wine.

Sep 25, 2025

Govt Partners with Zepto to Enhance Employment Opportunities, Youth Employability on NCS Portal

The Government partnered with quick commerce platform Zepto to enhance employment opportunities as well as youth employability on the National Career Service (NCS) Portal. The Ministry of Labour and Employment in September 2025, signed a Memorandum of Understanding (MoU) in the presence of Union Minister Mansukh Mandaviya. Addressing the event, Mandaviya said that the NCS platform emerged as a unique bridge between employers and job-seekers.
Under this collaboration, Zepto will provide 10,000 job postings during the MoU duration, creating a predictable and structured pipeline of urban employment opportunities for youth, women, and first-time job seekers. The partnership also creates a bridge to formalisation and upskilling, linking gig workers with e-Shram registration, social security schemes, and opportunities for future employability and protection.

RBI Cancels NBFC Licence of Datta Finance and Trading

In a major regulatory move, the Reserve Bank of India (RBI) cancelled the Certificate of Registration (CoR) of Datta Finance and Trading Pvt Ltd, a New Delhi-based Non-Banking Financial Company (NBFC), due to violations in its digital lending operations. This action, announced in September 2025, highlights RBI's growing focus on ensuring ethical conduct and regulatory compliance in the fast-growing digital lending ecosystem.

Paytm Shines as Only Indian Name in Morgan Stanley's Global AI Adoption Leaders List

Morgan Stanley released its latest Asia and Emerging Markets AI Adoption Leaders report, naming 20 companies best positioned to monetise artificial intelligence.
The line-up includes global innovators from Japan, Korea, Singapore, Australia, Argentina and South Africa.
Standing tall among them was Paytm, the only Indian company to make the list.
According to the report, Paytm has "embedded AI across every product from onboarding and fraud detection to churn prediction and personalised cross-sell."
The company's machine-first systems, supervised by humans, are accelerating product development, enhancing risk management, and elevating customer experience.
Paytm was categorised as having moderate AI exposure with high pricing power, a combination Morgan Stanley identifies as crucial for long-term monetisation.

MDL Signs MoU with Tamil Nadu to Develop World-Class Shipyard on East Coast

In a major stride towards strengthening India's maritime infrastructure, Mazagon Dock Shipbuilders Limited (MDL), in September 2025, signed a Memorandum of Understanding (MoU) with the Government of Tamil Nadu to explore the development of a world-class greenfield shipyard on the country's eastern coast. This strategic collaboration falls under the ambitious Maritime Amrit Kaal Vision 2047, a long-term blueprint laid out by the Government of India to bolster the nation's maritime capabilities and shipbuilding ecosystem.

Sep 24, 2025

Jio Payments Bank Introduces "Savings Pro" Earn Up to 6.5%

Jio Payments Bank, in September 2025, launched a new facility called Savings Pro, designed to help account holders earn significantly higher returns on funds that would otherwise lie idle.
Rather than keeping surplus funds in a savings account earning minimal interest, Savings Pro allows users to set a threshold (starting from Rs. 5,000) and automatically invests the excess into overnight mutual funds.

Paytm Money Partners with JioBlackRock to Launch India's First Systematic Active Equity Fund

Paytm Money partnered with JioBlackRock launched India's first Systematic Active Equity (SAE) fund for retail investors.
The JioBlackRock Flexi Cap Fund will be available exclusively on the Paytm Money app with a New Fund Offer from September 23 to October 7, 2025.

Sep 23, 2025

Oracle Appoints Insiders Clay Magouyrk, Mike Sicilia as Co-CEOs in Surprise Move

Oracle named insiders Clay Magouyrk and Mike Sicilia as co-CEOs, replacing Safra Catz, who was instrumental in shaping the company's cloud strategy and thrusting it to the forefront of the ongoing AI boom with big contract wins.

Government of India, ADB Signs $125 Million Loan to Boost Urban Livability and Climate Resilience...

The Government of India and the Asian Development Bank (ADB) signed a 125 million dollar loan agreement in September 2025, to enhance urban livability and bolster climate resilience in six district headquarters and Guwahati, in the State of Assam.
The project will benefit 3 Lakh 60 thousand residents of Assam by delivering a continuous metered water supply and upgrading storm water management systems.
It also seeks to strengthen urban governance through institutional reforms and capacity building.
The Finance Ministry said that key infrastructure investments include the construction of six water treatment plants with a combined capacity of 72 million litres per day and 800 kilometres of distribution pipelines in the district headquarters of Barpeta, Bongaigaon, Dhubri, Goalpara, Golaghat, and Nalbari. The project will also deploy a real-time monitoring system, aiming to maintain non-revenue water below 20 per cent.
In Guwahati, the project will enhance stormwater management in the Bahini Basin with flood diversion channels, upgraded drainage systems, and a nature-based retention pond to reduce flood discharge and improve groundwater recharge. The project also includes the establishment of the Assam State Institute for Urban Development in collaboration with the Indian Institute of Technology Guwahati.

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