General Awareness

BUSINESS AND ECONOMY - September 2026

Sep 2026

Sep 23, 2026

PhonePe receives UAE Central Bank approval for licences

Indian fintech company PhonePe received in-principle approval from the Central Bank of the United Arab Emirates in September 2026 for two payment licences. The licences cover Retail Payment Services and Card Schemes (RPSCS) and Stored Value Facilities (SVF). The approval enables PhonePe to offer its payment services in the UAE within the regulatory framework, expanding cross-border digital payments between India and the United Arab Emirates. Company officials said the move aligns with growing fintech ties in the region and supports broader access for customers and merchants. The decision is a significant milestone in PhonePe's international expansion strategy.

In-principle UAE Central Bank approval in September 2026.
Licences: Retail Payment Services and Card Schemes; SVF.
Allows PhonePe to operate in UAE under local regulations.
Expands cross-border digital payments between India and UAE.
Viewed as a milestone in PhonePe’s international growth.

Sagarmala Finance to launch India's first blue bond

The Sagarmala Finance Corporation announced plans to launch India's first blue bond on 28 September 2026. The Rs 600 crore issue includes a greenshoe option of Rs 500 crore and has a tenor of ten years. The bond will fund maritime sector lending, greenfield port projects, and coastal road development. Proceeds are expected to support port modernization, coastal infrastructure, and environmental sustainability. Regulators and investors anticipate strong interest due to India’s growing coastline and port activity. The issue marks a milestone in sustainable finance for the country, aligning with national goals to boost coastal resilience, create jobs, and attract private investment in logistics.

Blue bond launch scheduled for 28 September 2026.
Issue size Rs 600 crore; greenshoe option Rs 500 crore.
Tenor: ten years; funds maritime and coastal projects.
Uses include port modernization and environmental measures.
Seen as a milestone in India’s sustainable finance.

Sep 22, 2026

Starbucks to Establish Global Capability Centre in Tamil Nadu

Starbucks Coffee, the US-based company, has signed a Memorandum of Understanding with the Tamil Nadu Government to establish a Global Capability Centre (GCC) in Chennai. The centre is expected to create employment for around 800 technology professionals and to bolster the company’s technology operations in India. The agreement was signed in the presence of Tamil Nadu Chief Minister C. Joseph Vijay and Guidance, the state government’s investment promotion agency. The project highlights Tamil Nadu’s growing status as a technology hub and supports the government’s drive to attract foreign direct investment and high-quality jobs. Starbucks says the GCC will accelerate digital initiatives and drive innovation.

MOU signed to establish a GCC in Chennai.
Projected employment for about 800 technology professionals.
Significant boost to Tamil Nadu’s technology ecosystem.
Centre aims to advance digital initiatives for Starbucks.

ONGC Discovers Natural Gas in Mahanadi Basin

The Oil and Natural Gas Corporation (ONGC) has discovered natural gas in the deep waters of the Mahanadi Basin off India’s east coast. The discovery was made at the MDW-28 (MN-DW18-1-H-D) exploration well, located about 43 kilometres from Konark in Odisha. The well is the first drilled under ONGC’s ongoing deepwater exploration campaign in the basin. The discovery could contribute to energy security and gas supply in eastern India, subject to appraisal and development planning. ONGC will undertake further testing to determine commercial viability, while considering environmental safeguards and coastal impacts, before any development decisions.

Discovery at MDW-28 deepwater well, 43 km from Konark, Odisha.
First deepwater well in ONGC’s Mahanadi Basin campaign.
Potential impact on regional energy supply pending appraisal.
Environmental and coastal considerations will guide next steps.

Sep 21, 2026

Assam initiates Northeast’s largest power project in Dhubri district

Assam Chief Minister Himanta Biswa Sarma laid the foundation stone for a 3,200 MW ultra-supercritical thermal power plant at Chapar, Dhubri district. The project, developed by Adani Power Limited, involves an estimated investment of ₹48,000 crore and marks the largest power project in India's Northeast. Four generating units of 800 MW each will be installed, using high-efficiency ultra-supercritical technology. Commissioning is planned in phases from December 2030. The ADANI Group’s broader plan in Assam includes pumped storage facilities and significant job creation, underscoring a major shift in regional energy infrastructure and investment policy.

3,200 MW ultra-supercritical power plant approved at Chapar, Dhubri.
Developed by Adani Power Limited; investment ₹48,000 crore.
Four 800 MW units; phased commissioning from December 2030.
Part of a broader ₹63,000 crore Assam energy strategy by Adani Group.
Expected large job creation during construction and after commissioning.

India tops global business climate rankings in Swedish Chamber survey 2026

India has been ranked first in business climate among more than 40 global markets in the Swedish Chamber of Commerce in India’s Business Climate Survey 2026. Commerce and Industry Minister Piyush Goyal shared the finding, noting that India’s stability, growth, and ease of doing business stand out amid global volatility. The survey tracks perceptions of Swedish companies operating abroad and provides benchmarks for future investments. The result signals improving confidence in India’s policy environment, regulatory regime, and market access. Analysts say such rankings can influence foreign direct investment and manufacturing decisions in the near term.

Swedish Chamber of Commerce’s 2026 Business Climate Survey ranks India first.
India praised for stability, growth, and ease of doing business.
Minister Piyush Goyal highlights positive implications for FDI.
The survey reflects Swedish company perspectives on global markets.
May influence investment decisions and manufacturing in India.

Sep 20, 2026

India ranks first in Business Climate Survey 2026

The Swedish Chamber of Commerce in India released the Business Climate Survey 2026, ranking India first among 41 global markets. The survey assesses business environment, economic performance, future outlook, and operating conditions for Swedish companies in India. The findings reflect confidence in India’s growth trajectory and regulatory environment, highlighting improving business conditions amid reforms and investment activity. India’s leadership in this survey comes amid a flurry of national programs and international collaborations. In late September 2026, Rozgar Mela announcements and employment initiatives continue to shape India’s growth narrative. ([newsonair.gov.in](https://newsonair.gov.in/category/national/?claude-citation-43682d0f-5bf4-41f6-a8b5-05330ee3c401=95f6377d-3159-4c68-98de-3b0a89f82bbc&lang=en&utm_source=openai)) ([newsonair.gov.in](https://newsonair.gov.in/hi/india-ranks-first-in-ease-of-doing-business-in-the-business-climate-survey-2026/?utm_source=openai))

India ranked 1st among 41 markets in Business Climate Survey 2026
Survey evaluates business environment, economy, outlook and operating conditions
Swedish companies in India express confidence in growth

Sep 19, 2026

GIFT City climbs to 37th in Global Financial Centres Index (GFCI 40) and tops Asia-Pacific

GIFT City (Gujarat International Finance Tec-City) moved up nine places to rank 37th globally in the Global Financial Centres Index (GFCI 40) released in September 2026. It also entered the top 15 financial centres in the Asia-Pacific region, reflecting momentum in India’s financial services ecosystem. The index assesses centres on FinTech capabilities, access to finance, skilled talent, regulatory environment, and ICT infrastructure. FinTech capabilities improved, with the city ranking 26th globally in that sub-category. The latest results underscore India’s rising role in global finance and the push to diversify activity beyond traditional hubs.

GFCI 40 release date: September 2026
GIFT City rank: 37th globally (up 9 places)
Top 15 in Asia-Pacific
Key drivers: FinTech, access to finance, talent, regulation, ICT
FinTech global rank: 26th
Implication: India’s growing financial hub status

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