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Labour Courts under the Industrial Disputes Act, 1947, will have jurisdiction till the Tribunals are constituted under the Industrial

Relations Code, 2020.

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Bombay Chamber, Mumbai: India must move decisively to scale up shipbuilding capacity, deepen financial ecosystems and accelerate the green transition to emerge as a global maritime powerhouse. This was the underlying theme at the Global Harit Nauka Summit: Trust, Collaborate, Impact, organised by the Bombay Chamber of Commerce and Industry on February 24, 2026, at ITC Grand Central Hotel, Mumbai.

The International Shipbuilding Conference brought together senior government officials, naval leadership, shipyard heads, financiers, insurers and global maritime stakeholders to chart India’s pathway towards becoming a top-five shipbuilding nation by 2047.

In his keynote address on Shaping a Globally Competitive and Sustainable Shipbuilding Ecosystem: India’s Path Forward, Shri Shyam Jagannathan, IAS, Director General, Directorate General of Shipping, Ministry of Ports, Shipping and Waterways, Government of India, outlined the strategic and regulatory roadmap for India’s maritime growth. Noting that India is now a $4.19 trillion economy and the world’s fourth largest, he highlighted that 95% of India’s trade by volume and 70% by value moves by sea, making shipbuilding central to economic security.

Referring to geopolitical disruptions in the Red Sea and Black Sea regions and shifting global trade routes, he stressed the importance of strengthening domestic shipbuilding to secure supply chains and strategic autonomy. Under Maritime India Vision 2030 and Maritime Amrit Kaal Vision 2047, India aims to enter the top 10 shipbuilding nations by 2030 and the top 5 by 2047, scaling annual production significantly while generating large-scale employment.

Shri Jagannathan detailed the government’s four-pillar approach: the Shipbuilding Financial Assistance Scheme, the Shipbuilding Development Scheme, the Maritime Development Fund and comprehensive legal and process reforms, backed by a ₹69,725 crore policy framework. He underlined the impact of the Merchant Shipping Act, 2025 and the Coastal Shipping Act, 2025 in modernising maritime governance, streamlining vessel registration and promoting Indian-flagged tonnage. He also highlighted green vessel incentives, ship recycling reforms and opportunities emerging from GIFT City as a competitive ship leasing and maritime finance hub.

Delivering the special address on “Shipbuilding as a Strategic Driver of India’s Maritime Vision,” Arjun Chowgule, Managing Director, Chowgule Group, emphasised that shipbuilding must be viewed as a strategic enabler of trade security, naval strength and industrial self-reliance, calling for long-term policy visibility and stronger public-private collaboration.

Earlier, Sudhanshu Vats, Sr. Vice President, Bombay Chamber and Managing Director, Pidilite Industries, welcomed delegates and underscored the Chamber’s long standing engagement with the maritime sector. 

Setting the theme, Shri Rajiv Jalota, Former IAS, Former Chairman of Mumbai Port Authority and DG Shipping, Government of India, and Conference Chairman, underscored that shipbuilding sits at the intersection of trade competitiveness, energy security, national security, technology leadership and climate responsibility. He outlined three global forces shaping the next shipbuilding cycle — fleet renewal, decarbonisation and geopolitical resilience — and stressed that green shipbuilding must be viewed as a full ecosystem spanning engines, fuel systems, fabrication, digital planning, classification, repair capacity and skilled manpower. He called for stable multi-year policy support, industrial-scale production, innovative financing and demand visibility to achieve the ambition of becoming a top-five shipbuilding nation by 2047.

Manish Sharma, Partner and Leader, Infrastructure, Transport and Logistics, PwC India, presented key recommendations from an industry survey, highlighting supply-side constraints, financing gaps and the need for cluster-based expansion.

The session on Shipbuilding in a Shifting World: India’s Role in the Indo-Pacific was moderated by Mohanlal Pillai, CEO, Mech Marine Engineers. The panel featured Vice Admiral Ankur Sharma, Admiral Superintendent (ASD), Naval Dockyard Mumbai; Arjun Chowgule, Managing Director, Chowgule Group; Vishal Kanwar, Partner, PwC India; and Sapna Dipu, AGM (Forward Design & Contracts), Mazagon Dock Shipbuilders. The discussion examined shipbuilding as a pillar of maritime security, Indo-Pacific trade and naval collaboration, global competition and technology transfer opportunities.

The subsequent session on “Financing Shipyards, Technology, and Infrastructure: Unlocking Supply-Side Growth” was moderated by K. Mukundan, Senior Principal – Strategic Initiatives and Policy Advisory, National Investment and Infrastructure Fund (NIIF). Panelists included Rajeev Nayyer, Advisor, Swan Defence & Heavy Industries; Sachin Kulkarni, Head – Marine Business Sales (South Asia), Wärtsilä India; Naveen Rawat, GM (PF&S SBU), State Bank of India; and Jayati Roy, Deputy General Manager, Aviation, Marine Hull & Marine Cargo Technical Department, The New India Assurance Co. The panel highlighted blended finance structures, PPP models, insurance-backed risk mitigation and green finance tools as essential enablers for capacity expansion.

A special address on Collaborating for a Sustainable Maritime Future was delivered by Daiyu Kurachi, Technical Group, NYK Line, who shared perspectives on Japan’s green shipping initiatives and collaboration opportunities with India.

A key highlight of the afternoon was the panel on Financing Fleet Expansion: Meeting Global & Domestic Shipping Demand, chaired by Capt. B. K. Tyagi, Chairman & Managing Director, Shipping Corporation of India, and moderated by Anil Radhakrishnan, CEO, GMR Enterprises and Director, Bombay Chamber. Panelists included Anil Devli, CEO, Indian National Ship Owners Association; Pallavi Raje, Executive Director – Transportation Finance, Standard Chartered Bank; and Pravin Kirolikar, CEO, Yeoman Marine Services. The discussion explored innovative ship leasing and bareboat charter models, financing mechanisms for LNG, methanol and hydrogen-powered vessels, and the use of cargo-backed long-term contracts as risk mitigation tools, with particular emphasis on the role of GIFT City in ship financing.

Girija Subramanian, Chairman-cum-Managing Director, The New India Assurance Co. Ltd., delivered a special address highlighting the evolving role of marine insurance in supporting fleet modernisation and mitigating emerging risks in a dynamic global shipping environment.

The session on “Building Human Capital for a Competitive Shipbuilding Industry,” chaired by Dr. (Mrs.) Malini V Shankar, IAS (Retd.), Vice Chancellor, Indian Maritime University, was moderated by Capt. Hemant Gupta, Deputy Director, Drewry Maritime Advisors. Panel members included Uday Chaitanya Ganivada, Country Manager – India, Sri Lanka & Bangladesh, DNV; Sahay Raj, Managing Director, Shoft Shipyard and P. K. Mishra, Managing Director, Indian Register of Shipping. The discussion focused on advanced skills, industry–academia partnerships, employment generation and strengthening India’s maritime talent pipeline.

The valedictory session on “Policy to Practice: How State Clusters/Maritime Boards can Anchor India’s Global Shipbuilding Ambitions” featured addresses by Mr. Kalpesh Vithlani, Gujarat Maritime Board; Capt. Dharma Sastha, Andhra Pradesh Maritime Board; Mr. Prabakaran, Associate Vice President, Guidance Tamil Nadu; and Capt. Praveen Khara, Chief Port Officer, Maharashtra Maritime Board.

The summit concluded with a call for coordinated action across policy, finance, technology and skills development to ensure India leverages its shipbuilding capabilities, strategic location and reform momentum to build a resilient, green and globally competitive maritime ecosystem.

Central Government Releases Compliance Handbook for Employers on Labour Codes

Union Minister of Commerce and Industry Shri Piyush Goyal today urged medtech startups to look beyond the domestic market, leverage India’s expanding trade agreements covering nearly 70% of global GDP, and scale affordable innovations to serve both India and the world.

Addressing the Pfizer INDovation Startup Showcase Programme in New Delhi, the Minister emphasized that affordable, scalable medical technology can help reach the remotest parts of India and also access global markets across Africa, Latin America, Central Asia, Southeast Asia and developed economies.

He noted that nine Free Trade Agreements concluded in the last three years cover 38 countries with strong per capita incomes, and that most developed markets now have trade arrangements with India. Agreements include the 27-nation EU bloc, four-nation EFTA bloc, the UK, Australia and New Zealand, the United States of America, while Japan and Korea were concluded earlier, along with ASEAN nations. He said India now has market access to 70% of global GDP, in most cases at zero duty for Indian products.

Shri Goyal said startups should not limit themselves to the domestic market and should participate in global fairs and exhibitions. He assured that the Commerce Ministry would support delegations and that India’s missions in over 190 countries are available to assist innovators. He also encouraged collaboration with global companies, present in over 100 countries, to access developed markets.

The Minister highlighted that affordable and scalable medtech products can reduce costs and improve quality through economies of scale. Referring to startups present at the programme, he noted that many had secured CDSCO approvals and some were on the verge of receiving FDA approvals, enabling them to expand internationally.

The Minister stressed that innovation must address India’s day-to-day needs and ground-level imperatives. He underlined the importance of showcasing success stories and urged Startup India, the private sector and the media to encourage entrepreneurs, including those who may not succeed initially.

Stating that failure is not a stigma but a stepping stone to success, Shri Goyal cited the example of Abraham Lincoln, who faced repeated failures in education, business, law practice and elections before becoming President of the United States. He urged young innovators to persevere.

Shri Goyal referred to the Andhra Pradesh MedTech Zone (AMTZ) near Visakhapatnam and expressed interest in establishing a similar facility in North India, possibly in Rajasthan or Uttar Pradesh, or within NICDC (National Industrial Corridor Development Corporation) industrial projects with dedicated land for medical devices and co-working spaces for startups. He also suggested setting up tinkering labs in nearby schools to create a holistic ecosystem.

The Minister stated that over 200,000 startups are registered in India, with many more unregistered, and reiterated the goal of making India a reliable and trusted global partner.

He announced that three more National Institutes of Pharmaceutical Education and Research (NIPERs) are being established alongside the upgradation of seven existing NIPERs. A new National Institute of Design (NID) will be set up in East India, with states competing to provide the best proposal. He suggested that NID could assist startups in improving product design, visual appeal and overall quality, possibly through pro bono programmes.

Shri Goyal also highlighted that startups receive an 80% discount on IP-related fees to support genuine innovation while discouraging frivolous applications. He assured that the Ministry’s doors remain open 24×7, supported by a dedicated Startup India team.

Concluding his address, the Minister quoted the Prime Minister Shri Narendra Modi’s Independence Day message: “To the youth, bring forward your innovative ideas. I stand with you. I am ready to be your partner in this journey.”

The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry, Government of India, in collaboration with Pfizer, Department of Pharmaceuticals, and NITI Aayog, felicitated the winners of the Pfizer INDovation Program 2025, reinforcing DPIIT’s commitment to building a globally competitive, innovation-driven healthcare and MedTech ecosystem

Through this collaboration, 14 high-potential Indian healthtech startups have been awarded grants of ₹60 lakh each (over ₹8 crore in total) along with 18 months of structured incubation, clinical validation, mentorship, and real-world deployment support. The initiative reflects DPIIT’s ongoing efforts to enable strong public–private partnerships that help startups transition from innovation to impact, accelerating their journey from lab to market.

The selected startups are developing breakthrough solutions across priority healthcare areas including immunization, non-communicable diseases, brain health, oncology, and maternal & child health—sectors critical to strengthening India’s public health systems and improving healthcare access and affordability.

Union Commerce and Industry Minister Shri Piyush Goyal has urged exporters and industry bodies to take full advantage of the series of Free Trade Agreements signed with developed countries maximise job creation and boost exports of goods and services.

The minister met 35 Export Promotion Councils (EPCs) and key Industry Associations representing India’s major export sectors. Industry leaders and association office bearers appreciated the government’s trade-promotion initiatives during their interaction with the minister.

Shri Goyal said the Modi government had signed Free Trade Agreements with developed countries to help India’s farmers, workers, professionals, artisans and MSMEs take advantage of the global market with preferential access. With these trade agreements, India’s traditional medicines and yoga will also get global opportunities, while the interest of India’s agriculture and dairy sectors have been protected.

“Industry must now intensify its efforts to penetrate new markets, upgrade quality and become more competitive to take maximum advantage of trade agreements. India has made its mark in international trade since the ancient era. Our trade deals will accelerate our Viksit Bharat mission and carry forward Prime Minister Narendra Modi’s mantra of ‘Vikas bhi, Virasat bhi’,” Shri Goyal said at a meeting with EPCs and industry bodies.

Industry representatives conveyed their deep gratitude to the Prime Minister and the Minister of Commerce & Industry for the decisive leadership that enabled the successful conclusion of recent trade agreements with the United Kingdom, European Union and the United States of America.

Particular appreciation was expressed for the elimination of the additional 25 % tariff on Indian imports to the United States, as terminated through the United States Executive Order dated 6 February 2026, which is expected to restore competitive market access for Indian exports. Industry noted that the United States is among India’s largest export destinations and that the tariff relief provides significant stability and renewed competitiveness to Indian exporters.

Associations representing sectors earlier impacted by the US tariff measures — including gems & jewellery, textiles and apparel, carpets, leather and footwear, marine products, handicrafts, engineering goods and chemicals — highlighted that the tariff rollback has restored business confidence and safeguarded employment in labour-intensive sectors. Key participating bodies included the Federation of Indian Export Organisations (FIEO); Gem & Jewellery Export Promotion Council (GJEPC); Apparel Export Promotion Council (AEPC); Council for Leather Exports (CLE); Engineering Export Promotion Council of India (EEPC India); Basic Chemicals, Cosmetics & Dyes Export Promotion Council (CHEMEXCIL); Cotton Textiles Export Promotion Council (TEXPROCIL); Manmade and Technical Textiles Export Promotion Council (MATEXIL); other major textile EPCs; Carpet Export Promotion Council (CEPC); Export Promotion Council for Handicrafts (EPCH); agricultural and allied bodies including the Seafood Exporters Association of India (SEAI); Agricultural and Processed Food Products Export Development Authority (APEDA); Shellac and Forest Products Export Promotion Council (SHEFEXCIL); Indian Oilseeds and Produce Export Promotion Council (IOPEPC); India SME Forum; Sourcing Consultants Association (BAA); and apex industry chambers including the Federation of Indian Chambers of Commerce & Industry (FICCI), Associated Chambers of Commerce & Industry of India (ASSOCHAM), National Association of Software and Service Companies (NASSCOM) and PHD Chamber of Commerce and Industry (PHDCCI), along with several other leading sectoral associations.

The Ministry also made presentations on the recently concluded trade engagement with the United States, outlining market access opportunities, compliance frameworks and export expansion pathways. Industry welcomed the clarity provided and reaffirmed its commitment to scale exports in priority sectors.

Discussions also highlighted the progress under the Export Promotion Mission (EPM), the Government’s flagship framework to support exporters. Industry welcomed the Interventions already rolled out under the Mission, including enhanced access to trade financethrough Interest Subvention Support for export credit loans, Collateral Guarantee for Export Credit extended to MSMEs and targeted market access support. It was noted that additional measures relating to trade finance, export logistics, export compliances, branding and market diversification are being rolled out shortly, in a phased manner to further strengthen India’s export ecosystem.

The Minister reaffirmed the Government’s commitment to accelerate export growth, deepen global integration and leverage new trade agreements to position India as a trusted global supply partner.

Central Government introduces Bill to repeal Industrial Disputes Act, Trade Unions Act & Standing Orders Act

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Central Government notifies Draft Occupational Safety, Health and Working Conditions (Dock Workers) Central Regulations, 2026 prescribed under section 136 of the OSH&WC Code, 2020 inviting comments/suggestion from stake holders.

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