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Central Government notifies wage ceiling for bonus under the Code on Wages 2019.

Notification attached

Central Government notifies rules on calculation of bonus under Code on Wages 2019.

Notification attached

Union Minister of Commerce and Industry, Shri Piyush Goyal, today held discussions in Tokyo with senior leaders of leading Japanese financial and investment institutions on strengthening long-term capital flows, deepening investment partnerships and expanding Japanese participation in India’s growth story.

The meeting brought together senior representatives of MUFG, Development Bank of Japan (DBJ), Mizuho, Morgan Stanley, Nomura and Nippon Life. The discussions focused on India’s economic outlook, emerging investment opportunities and measures to further facilitate Japanese institutional investment in India.

Shri Goyal highlighted the strength and resilience of the Indian economy, noting that India recorded 7.7 per cent growth last year despite global uncertainties and is working towards becoming a USD 30 trillion economy by 2047. He underlined the strength of India’s banking sector, robust capital adequacy, low levels of non-performing assets, expanding middle class and rising disposable incomes as key drivers of sustained economic growth.

The Minister highlighted significant opportunities for Japanese investors in semiconductors, artificial intelligence, data centres, renewable energy, green hydrogen, advanced manufacturing and digital infrastructure. He noted that India’s expanding renewable energy capacity and national power grid provide a strong foundation for the growth of energy-intensive digital industries, while the India Semiconductor Mission is creating new opportunities across manufacturing and technology.

Highlighting the strategic and comprehensive nature of India-Japan relations, Shri Goyal said India regards Japan as a trusted partner in its journey towards becoming a global manufacturing, technology and investment hub. He emphasised India’s commitment to intellectual property protection, availability of high-quality talent, policy reforms and creating an increasingly conducive business environment.

The Japanese financial institutions shared their growing engagement with India and expressed strong confidence in the country’s long-term growth prospects. MUFG highlighted its investment of around USD 4 billion in Shriram Finance and its expanding interests in areas including renewable energy and hydrogen. DBJ outlined its dedicated India strategy and growing interest in property development, venture capital and other long-term investment opportunities.

Mizuho highlighted the improving profitability of Japanese companies operating in India and the expansion of its India operations, including its Global Capability Centre in Pune. Morgan Stanley described India as one of its most important global locations, with more than 19,000 employees, and highlighted the evolution of its India operations towards higher-value capital markets and financial services activities.

Nomura highlighted its long-standing presence in India and its role in connecting Japanese companies and global industries with Indian opportunities, including through technology capabilities in areas such as artificial intelligence and cybersecurity. Nippon Life emphasised the importance of long-term “patient capital” and noted the strong returns generated by its Indian operations.

The discussions also covered measures to further facilitate the flow of Japanese institutional capital into India. Participants highlighted the importance of simplifying processes for profit repatriation, improving access to Indian capital markets and ensuring greater regulatory predictability for long-term investors.

The Japanese institutions reiterated that their long-term strategic outlook on India remains strongly positive, while noting that currency movements and certain regulatory and policy considerations can influence short-term investment decisions. Shri Goyal welcomed the feedback and reiterated the Government’s commitment to continuously improving the ease of doing business and creating a more seamless investment environment.

The meeting also explored the potential of GIFT City as a gateway for international capital into India and as a platform for facilitating greater cross-border investment flows between Japan and India.

Shri Goyal emphasised that India is seeking not merely capital but long-term partnerships that bring technology, innovation, manufacturing capabilities, employment and integration with global value chains. He highlighted opportunities in both new and emerging sectors and established businesses requiring modernisation and technological upgrading.

The discussions assume significance in the context of the India-Japan objective of mobilising 10 trillion yen of Japanese private investment into India over the next decade. The interaction reaffirmed the strong confidence of leading Japanese financial institutions in India’s long-term growth prospects and highlighted the considerable potential for expanding bilateral investment, technology and business linkages.

The meeting marked another important step towards deepening the India-Japan economic partnership and unlocking greater flows of long-term Japanese institutional capital into India’s next phase of growth.

Union Minister of Commerce and Industry, Shri Piyush Goyal, today chaired a roundtable with leading Japanese and Indian industry representatives on Semiconductors and Artificial Intelligence (AI) in Tokyo, underlining the growing importance of these sunrise sectors in strengthening India-Japan economic and technological cooperation.

Shri Goyal highlighted that Semiconductors and AI are emerging as key areas of cooperation and constitute an important pillar of the economic security partnership envisaged by Prime Minister Shri Narendra Modi and Prime Minister Sanae Takaichi during the Annual Summit. He assured the participating industry representatives of the Government of India’s wholehearted support in deepening and expanding collaboration between India and Japan in these strategic sectors.

The Minister highlighted the rapidly expanding opportunities in India’s semiconductor sector, with domestic semiconductor demand projected to reach USD 150 billion by 2032. He outlined the Government’s comprehensive semiconductor strategy covering chip design, semiconductor machinery and materials, fabrication, ATMP/OSAT, research and development, and talent development. He also highlighted the Government’s commitment of USD 10 billion under Semicon India 1.0 and an additional USD 15 billion under Semicon India 2.0 to catalyse large-scale investments and build a comprehensive semiconductor ecosystem in the country.

Shri Goyal emphasised the significant potential for combining India’s vast pool of skilled and talented professionals with Japan’s advanced technology, engineering capabilities and industrial expertise. He noted that such complementarities can create new opportunities for investment, innovation, manufacturing and technology partnerships between the two countries.

The roundtable was attended by representatives of around 21 leading Japanese companies, including Tokyo Electron, Daifuku, Preferred Networks, ABEJA, MinebeaMitsumi, Tanaka Precious Metals Technologies, Fujifilm Holdings, Toray Industries, Nippon Express Holdings, Mizuho Financial Group, Kyocera Corporation, Fuji Electric, TOK, Air Water Inc., ROHM, Tomoegawa Corporation, MUFG Bank Ltd., NEC Corporation, Yamaya Electronics, ANA Trading and JETRO. The roundtable also saw participation from various Indian business chambers and business delegations.

The participating Japanese companies expressed confidence in the growing opportunities in India’s semiconductor and AI sectors and reaffirmed their commitment to Make in India, Design in India and Develop in India. The companies also briefed the Minister on their operations, capabilities and project execution in the relevant sectors.

Responding to suggestions and concerns raised by Japanese industry representatives, Shri Goyal assured that the Government of India would proactively address the issues raised. He emphasised that India is fully cognisant of the significant potential of the India-Japan partnership in these strategic sectors and will proactively engage with industry through the Embassy of India in Tokyo and the concerned Ministries and Departments in New Delhi to facilitate fruitful outcomes in a fast-tracked manner.

Earlier, Shri Goyal held a bilateral meeting with Japan’s Minister of Economy, Trade and Industry, H.E. Mr. Akazawa Ryosei, on 25 August 2026 in Tokyo.

During the meeting, the two Ministers took stock of bilateral economic cooperation, including bilateral trade and investment, and discussed the need to accelerate the review of the Comprehensive Economic Partnership Agreement (CEPA) to make it more forward-looking and responsive to emerging economic opportunities.

The Ministers also discussed bilateral cooperation in new and emerging sectors, next-generation industries, manufacturing, technology and innovation. They noted the steady progress towards achieving the target of JPY 10 trillion in private investment from Japan to India, further strengthening the India-Japan Special Strategic and Global Partnership.

Maharashtra declares 28.8.26 as a local holiday for Govt and Semi Govt offices

The Agricultural and Processed Food Products Export Development Authority (APEDA), under the Ministry of Commerce & Industry, Government of India, in collaboration with the Tripura State Organic Farming Development Agency (TSOFDA) and the Department of Agriculture and Farmers Welfare, Government of Tripura. organised an International Organic Buyer-Seller Meet in Agartala, Tripura, to provide a direct platform for the state’s organic producers, Farmer Producer Organisations (FPOs), exporters and international buyers to explore new business opportunities and establish long-term market linkages.

Around 200 participants participated in the programme, including more than 20 international buyers from countries such as Australia, New Zealand, Germany, Italy, Greece and Argentina, 27 exporters, 96 farmers representing 22 FPOs/FPCs, and officials from various Government departments. The diverse participation provided a platform for direct interaction among farmers, producer organisations, exporters, Government stakeholders and international buyers, facilitating discussions on sourcing opportunities, market requirements and potential business linkages.

The event featured 12 vibrantly curated stalls showcasing the diverse range of organic and naturally produced products that Tripura has to offer, including Queen Pineapple, GI-tagged Kalikhasa Rice, Organic Ginger and Turmeric, Black Sesame, Jackfruits, Scented Lemon and other fresh and exotic organic products. The stalls provided international buyers with an opportunity to explore Tripura’s unique agricultural offerings through product displays, direct interactions with producers and discussions on potential sourcing and business opportunities.

The International Organic Buyer-Seller Meet provided a platform for meaningful commercial engagement between Tripura’s organic producers and international buyers while promoting the state’s organic identity in global markets. The initiative is expected to generate new business linkages, encourage long-term sourcing partnerships and contribute to improved market access and income opportunities for farmers.

The event was graced by Agriculture Minister, Government of Tripura Shri Ratan Lal Nath. IAS, Secretary, Agriculture & Horticulture, Government of Tripura, Shri Apurba Roy, Executive Director, IFOAM Organics Asia and senior officers from APEDA, Ms Jennifer Chang, also attended the programme and shared their perspectives on strengthening the organic sector and expanding market opportunities for organic producers.

Agriculture Minister Shri Ratan Lal Nath, appreciated the efforts to promote Tripura’s organic products in international markets and highlighted the importance of strengthening market linkages for organic farmers and producer groups. He said, “Tripura’s farmers are producing quality organic products with strong potential in domestic and international markets. Connecting our farmers and FPOs directly with international buyers can create new opportunities for better market access and income generation. The Government of Tripura will continue to support initiatives that strengthen organic farming and enable our farmers to benefit from emerging global opportunities.”

The event also featured the felicitation of organic farmers by the Agriculture Minister in recognition of their contribution to the state’s organic agriculture movement and their role in building sustainable agricultural value chains.
APEDA continues to work closely with State Governments, FPOs, exporters and other stakeholders to strengthen India’s organic export ecosystem through certification support, capacity building, infrastructure development, market promotion and international buyer linkages. The initiatives in Tripura form part of these continued efforts to expand the global footprint of India’s organic products and create sustainable opportunities for farmers across the North Eastern Region.

Mumbai, August 10, 2026: The Bombay Chamber of Commerce and Industry, in association with the Consulate General of Sri Lanka in Mumbai and the Sri Lanka Export Development Board (EDB), hosted the Sri Lanka–India Trade & Investment Promotion Event in Mumbai today, bringing together senior Sri Lankan officials, exporters, industry representatives and Indian business leaders to explore new opportunities for trade, investment, sourcing and business partnerships.

The event reaffirmed the strong economic relationship between the two neighbouring countries, with discussions focusing on emerging opportunities across manufacturing, technology, services, food processing, green technology and the gem and jewellery sector.

Welcoming the Sri Lankan delegation, Viraj Kulkarni, Chairman, International Trade and Commerce Committee, Bombay Chamber, highlighted the Chamber’s role in facilitating international business partnerships. He said, “At Bombay Chamber, we believe in collaborations and we believe in partnerships.” He noted that the Chamber’s extensive international engagement provides businesses with platforms to build connections and explore new markets.

Priyanga Wickramasinghe , Consul General of Sri Lanka in Mumbai, said the event was an important step towards converting the longstanding India–Sri Lanka relationship into new commercial opportunities. “Today’s gathering is not just about celebrating a shared history, it is about looking forward and turning mutual intent into tangible high value commercial partnerships,” she said. She highlighted Sri Lanka’s National Export Development Plan 2026–2030, which seeks to transform the country into a knowledge-intensive, high-value and sustainability-driven regional export and logistics hub, with Indian enterprises playing an important role in this vision.

She also highlighted the significant potential for collaboration in the gem and jewellery sector, where Sri Lanka’s globally recognised coloured gemstones complement India’s strengths in jewellery manufacturing, processing, design and global distribution. Wickramasinghe invited Indian businesses to participate in Sri Lanka Expo 2027, scheduled from 14–17 January 2027 in Colombo, which will bring together leading Sri Lankan exporters, international buyers and investors.

Mangala Wijesinghe, Chairman, Sri Lanka Export Development Board, outlined Sri Lanka’s ambitions to expand its export footprint and deepen economic engagement with India. “As close neighbours, we believe there is a tremendous potential to further strengthen our trade and investment partnership, particularly in sectors where both our countries possess unique strengths,” he said.

According to Wijesinghe, Sri Lanka’s new National Export Development Plan targets more than US$36 billion in export revenue by 2030, with an emphasis on product and market diversification. He also highlighted the opportunity for Indian companies to use Sri Lanka as an export and investment hub, leveraging its strategic location, skills and access to international markets.

The discussions identified several sectors with strong potential for Indian businesses, including apparel and textiles, tea and beverages, spices, rubber and coconut-based products, fisheries, shipbuilding, electrical and electronics, ICT, tourism, education and professional services. The EDB also highlighted existing Indian exports to Sri Lanka, including petroleum products, pharmaceuticals, machinery, vehicles and agricultural equipment, pointing to significant scope for further expansion of two-way trade.

A key focus of the event was Sri Lanka’s gem and jewellery industry. Prof. S. P. Chaminda, Chairman and CEO, National Gem and Jewellery Authority of Sri Lanka, outlined the Authority’s role across mining, value addition and exports and highlighted the potential for closer collaboration with India’s jewellery industry. Sri Lankan gem exporters also presented opportunities for Indian jewellery manufacturers, designers and retailers, including potential partnerships, joint ventures and the development of value-added jewellery for global markets.

The Sri Lankan delegation showcased the country’s expertise in natural coloured gemstones, particularly sapphires, rubies, cat’s eye and star sapphires, along with its focus on certification and international quality standards. The delegation also invited Indian businesses to participate in Facets Sri Lanka 2027, the country’s premier gem and jewellery exhibition, scheduled for January 2027.

The Sri Lankan delegation further extended an invitation to Indian businesses to participate in Sri Lanka Expo 2027, being organised after a 15-year gap. The exhibition will feature Sri Lankan exporters, international buyers and investors, B2B meetings, thematic pavilions and an investor forum. Registered buyers and investors will also receive facilitation including accommodation and transportation support.

The event concluded with an interactive Q&A and B2B networking session, enabling Indian businesses to engage directly with Sri Lankan exporters and explore opportunities for collaboration across trade, investment, manufacturing, services and gems and jewellery.

In a major milestone for the nation’s clean energy transition and climate action targets, India has crossed 300 GW of non-fossil fuel-based installed electricity generation capacity as on 31st July, 2026; over 60% of the 500 GW capacity targeted to be achieved by 2030.

Breakdown of Non-Fossil Fuel Capacity (as on 31.07.2026):

• Solar Power: 164.59 GW
• Wind Power: 58.14 GW
• Hydro Power (Large & Small): 57.24 GW
• Bio-power: 11.75 GW
• Nuclear Power: 8.78 GW
• Total Non-Fossil Capacity: 300.50 GW

The share of non-fossil fuel electricity capacity in the country’s total electricity generation capacity (which is around 552 GW at present), has reached over 54%.

Backed through the key policy enablers provided by the Government for this transformation, this monumental achievement highlights India’s rapid progress towards building an Aatmanirbhar energy ecosystem and securing the target of 500 GW non-fossil capacity by 2030.

The growth in clean energy generation has been anchored by stellar contributions across sectors. Solar energy remains the key growth engine with around 165 GW at present from just 2.8 GW in 2014.  Concurrently, the wind energy sector has also seen strong momentum reaching to over 58 GW from 21 GW in 2014.

During 2025-26, a record capacity of 55.29 GW non-fossil fuel based electricity capacity was installed in the country with key contributions from 44.6 GW solar power and 6 GW wind power.

The rapid progress in renewable energy capacity is also reflected in renewable energy generation in the country which has increased from 190.96 billion units in 2014-15 to 477.79 BU in 2025-26.

To support this rapid expansion and ensure supply chain independence, India has transformed its domestic manufacturing capabilities. Driven by the Production Linked Incentive (PLI) scheme focusing on the nation’s solar installations with high-efficiency, indigenously produced modules, the enlisted capacity under the Approved List of Models and Manufacturers (ALMM) for Solar PV Modules has crossed the historic 200 GW milestone, rising from just 2.3 GW in 2014.

Clean energy transition is no longer just a climate commitment—it is central to shaping India’s industrial competitiveness, energy independence, and economic resilience.

The Ministry of New and Renewable Energy is also driving deep industrial decarbonization, positioning India to become a global hub for the production, usage, and export of Green Hydrogen and its derivatives, through the implementation of the National Green Hydrogen Mission.

Mumbai, July 31, 2026: The Bombay Chamber of Commerce & Industry hosted the AI for Viksit Bharat Summit 2026 in Mumbai, bringing together leading voices from industry, technology, academia and the startup ecosystem to deliberate on how artificial intelligence can accelerate India’s journey towards becoming a developed nation. The summit served as a platform to explore AI’s transformative impact across sectors, its implications for the future of work, and India’s opportunity to emerge as a global AI innovation hub.

The summit commenced with a welcome address and theme-setting by Harish Narayanan, Chairman, Digitalisation Committee, Bombay Chamber and CMO & CDO, HDFC AMC, who underscored the need for responsible AI adoption, stronger public-private collaboration, and innovation-led growth to realise the vision of Viksit Bharat. He also spoke about the need to go beyond just jargon and leverage AI to scale up businesses. “Theoretical AI is not of any use to anybody. How do we take it from artificial intelligence to applied intelligence? If I don’t catch up on technology trends and innovations, every week there is a new model that is coming up. Every new week there are new technologies.”

Delivering the keynote address, Harish Mehta, Founder & Executive Chairman, Onward Technologies and Co-founder, NASSCOM, spoke about India’s AI-powered future, emphasising that the country’s progress will be driven not by a handful of leaders, but by the collective aspirations and innovations of millions of Indians. Describing every citizen as a “firefly” capable of illuminating India’s future, he remarked, “India will shine through millions and millions of fireflies over 782 districts of India… India should shine through millions of fireflies.” He added that the vision of Viksit Bharat rests on empowering every individual to excel in their respective fields, noting, “When you say Viksit Bharat, these millions of fireflies are each one of you.”

Mehta further reflected on India’s remarkable evolution from a closed economy to a global technology powerhouse through the collective effort of countless innovators and entrepreneurs. He stressed that sustained growth depends on building strong ecosystems rather than isolated success,”If you do not focus on the ecosystem, your growth would be highly limited.”

Highlighting artificial intelligence as the next great enabler of national transformation, he said that AI has the potential to empower every Indian to participate in the country’s development journey. “AI will enable every one of us to contribute… billion Indians. Once they are enabled, they would create the Viksit Bharat that we are looking forward to.” 

The first panel discussion, “AI Transforming Bharat’s Core Sectors,” examined how AI is reshaping financial services, digital infrastructure, media and enterprise transformation. Moderated by Srikanth RP, Editor, Express Computer, the session featured Dhiraj Relli, Director, Bombay Chamber and MD & CEO, HDFC Securities Ltd; Avinash Joshi, Executive Managing Director, India, NTT DATA; and Abe Thomas, CEO, Radio City. The panel discussed practical applications of AI, the importance of trusted digital ecosystems, and the need to balance innovation with responsible governance.

The summit also witnessed the launch of Express Computer, reinforcing the publication’s commitment to advancing conversations around India’s digital transformation.

The second panel, “AI, Jobs & Future Skills,” explored the changing nature of work in an AI-enabled economy. Moderated by Hareesh Tibrewala, CEO, Anhad Consultancy Services, the discussion brought together Indraneel Gawde, Chief Business Officer, Schbang; Ravi Eppaturi, Vice President – Technology Strategy, Ashtech Infotech India Pvt. Ltd.; and Dr. Utpal Chakraborty, Founder and Chief Scientist, GAHNA. The panellists emphasised that while AI will redefine existing roles, it will also create new opportunities, making continuous learning, reskilling and digital literacy central to India’s future workforce.

The summit featured dedicated technology sessions from Amazon Web Services (AWS) and Google, showcasing how organisations can accelerate AI adoption through scalable cloud infrastructure, advanced AI capabilities and practical enterprise use cases.

The concluding fireside discussion, “Can Bharat Become an AI Innovation Hub?”, moderated by Harish Narayanan, brought together Dr. Aditya Kulkarni, Founder & CEO, CareNx Innovations Private Limited; Syed Adil, India Head, Replit; and Subramanian Natarajan, Head – AI & Cloud Practice and Chief Technology & Innovation Officer, L&T Vyoma. The discussion explored India’s strengths in talent, entrepreneurship and digital public infrastructure, while identifying policy support, research investment and stronger industry-academia collaboration as critical enablers for establishing India as a global AI powerhouse.

The summit concluded with a vote of thanks delivered by Hareesh Tibrewala, CEO Anhad Consultancy Services.