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Bombay Chamber recently organised a MSME Conclave that explored innovative financing, trade finance, factoring, and working capital solutions designed to fuel MSME growth in the smart finance era.

In his welcome address, Rajiv Anand, President, Bombay Chamber & MD & CEO, IndusInd Bank said, “This conclave brings together enterprise leaders, policymakers, financial institutions, and global trade stakeholders to deliberate on the key enablers of MSME advancement. I am confident this conclave will empower MSMEs with the knowledge, resources, and support needed to address challenges in growth, talent management, financing, and internationalisation, enabling them to drive sustainable development and contribute meaningfully to the nation’s economy.”

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Setting the theme for the conclave, R Srinivasan, Co-Chairperson – MSME Forum, Bombay Chamber & Director, AIRA Consulting, said that at a time when global supply chains are being realigned and digital transformation is reshaping business models, Indian MSMEs are at a critical inflection point. “With access to smart, scalable, and innovative financing solutions, MSMEs have a unique opportunity to enhance competitiveness and integrate more deeply into global value chains,” he added.

In his keynote address, Rajesh Kumar, Deputy Managing Director (Retail – Agri & SME), State Bank of India, stated, “Inclusion of all MSMEs must be intentional. There should be awareness drives for digital offerings from the government, data privacy and ethical use of technology. Technology should not replace human capital; it should co-operate with the existing working
structure.”

This was followed by a Fireside Chat on The Implications of the New Labour Codes on MSMEs covering practical insights into their implications for MSMEs, including compliance, workforce management, and operational efficiency. R. Srinivasan moderated the session with Lancy D’Souza, Advocate & Legal Advisor, Bombay Chamber as the speaker.

The next session was on Country Spotlight: Trade Corridors for Indian MSMEs, where Honourable Consul Generals and Trade Commissioners of Argentina, Finland, Flanders and Alberta Canada shared first-hand perspectives on global business and trade opportunities including sourcing, technology partnerships, market access and export facilitation. H.E. Erik af Hällström, Consul General, Consulate General of Finland, Mumbai; Keith Bradley, Chief Operating Officer Invest Alberta and the Government of Alberta, Canada; Eva Verstraelen, Trade & Investment Commissioner for Flanders (FIT) in Mumbai and Maria Silvina Costa, Head of Economic and Trade Section, Consulate General & Trade Centre of the Argentine Republic in Mumbai made the presentations.

A panel discussion on “Powering India’s Growth Cycle through MSME IPOs,” aimed to familiarise enterprises with the IPO process and highlight how public markets can support long-term expansion. The panelists were Riddhesh Shah, Deputy Vice President, BSE SME & Startups, BSE; Kamal Dharewa, Founder, Ashwath Capital | Capital Markets & SME IPO Expert; Subham Chatterjee, Associate Partner, ALMT Legal and Ajaya Sharma, Senior Vice President- Capital Market Communication Group, Adfactors PR. The panel was moderated by Ajay Thakur, CEO & Managing Partner, TGI SME Capital Advisors LLP.

Punjab publishes draft Industrial Relations (Punjab) Rules, 2026

Notification attached.

Punjab publishes draft Code on Wages (Punjab) rules, 2026.

Notification attached.

Maharashtra declares 15th January 2026 as a Public Holiday under NI Act in specified local bodies.

Notification attached

Central Govt to consider representation for revision of wage ceiling limit under the Employees Provident Fund scheme –

Order attached

The Ayush Export Promotion Council (AYUSHEXCIL) observed its 4th Establishment Anniversary today in New Delhi in India’s efforts to promote exports of traditional systems of medicine and wellness products.

Since its formation, AYUSHEXCIL has undertaken several initiatives focused on capacity building of exporters, facilitation of export procedures and regulatory compliance, and the organisation of B2B meetings, international exhibitions, seminars, and outreach programmes in key overseas markets.

Exports of AYUSH and herbal products have registered a growth of 6.11 per cent, increasing from USD 649.2 million in 2023–24 to USD 688.89 million in 2024–25. Following the establishment of AYUSHEXCIL, this growth has accelerated, reflecting enhanced global outreach and rising international demand for India’s traditional medicine and herbal products.

India’s traditional medicine systems (AYUSH) have also received formal recognition in bilateral trade agreements, including the India–Oman CEPA and the India–New Zealand FTA, with dedicated annexes on health-related services and traditional medicine. AYUSHEXCIL has been entrusted with anchoring the Ayush Quality Mark programme of the Ministry of Ayush, launched by the Hon’ble Prime Minister during the 2nd WHO Summit on Traditional Medicine (17–19 December 2025), marking a key milestone in strengthening quality assurance and global recognition of AYUSH products.

As AYUSHEXCIL enters its fifth year, the Council aims to further strengthen international cooperation, leverage opportunities under Free Trade Agreements, promote quality and certification frameworks, and enhance global acceptance of India’s traditional systems of medicine.

The anniversary underscores India’s growing leadership in the global AYUSH and wellness economy, aligned with the vision of Atmanirbhar Bharat and Make in India.

AYUSHEXCIL was registered as a Section 8 company with the Registrar of Companies, New Delhi, on 4 January 2022, and was formally launched by Prime Minister Shri Narendra Modi during the Global AYUSH Investment and Innovation Summit held in Gandhinagar, Gujarat, on 20 April 2022. Subsequently, the Council was notified by the Directorate General of Foreign Trade (DGFT) on 31 July 2023 as the nodal Export Promotion Council for the AYUSH sector.

The Council functions in consultation with the Ministry of Ayush, with support from the Ministry of Commerce & Industry, to oversee exports of products and services related to Ayurveda, Yoga & Naturopathy, Unani, Siddha, Sowa-Rigpa, Homeopathy, and other Indian traditional healthcare systems.

Bombay Chamber submits Pre-Budget Memorandum on Direct Tax for FY 2026–27

Mumbai: The Bombay Chamber of Commerce and Industry, through its Direct Tax Committee, has submitted its Pre-Budget Memorandum on Direct Tax for FY 2026–27.

The memorandum, based on member inputs, is divided into two parts:

Part A – Issues requiring legislative amendments

Part B – Non-legislative issues addressable by CBDT through Rules, Notifications, or Circulars

The Chamber welcomed the Government’s landmark Income-tax Act, 2025, which will replace the Income-tax Act, 1961 from April 01, 2026. The new law simplifies tax provisions, removes redundancies, and presents the statute in clear, accessible language while retaining the core policy framework.

The Chamber noted that the upcoming Budget offers an opportunity to refine the new Act before implementation, with measures to reduce litigation and ease compliance.

Key recommendations aim to:

• Strengthen India’s private investment ecosystem
• Provide tax certainty
• Address procedural challenges
• Minimise litigation
• Enhance ease of doing business

These proposals, aligned with the Government’s policy of moderate progressive tax rates and minimal incentives, are positioned as tax enablers to support India’s vision of Viksit Bharat by 2047.

Central Government publishes FAQs on Labour Codes..

They can be viewed on: https://labour.gov.in/en