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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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The Bombay Chamber of Commerce and Industry organised a Post-Budget Analysis Webinar on 5 February 2026, bringing together economists, industry leaders, and policy experts to examine the Union Budget 2026–27 and its implications for India’s growth trajectory amid an increasingly complex global environment.

Delivering the welcome address, Rajiv Anand, on behalf of the Chamber, emphasised that the Union Budget is not merely an annual financial exercise but a strategic statement of national priorities. He noted that post-budget dialogues play a critical role in interpreting policy intent, assessing real-world impact, and enabling businesses to align their strategies with emerging economic priorities.

He highlighted key signals from the Budget, including the record capital expenditure allocation of ₹12.2 lakh crore to strengthen long-term productive capacity, continued emphasis on manufacturing and MSME growth, enhanced focus on connectivity and urban development, targeted policy reforms to support investment-led growth, and a significant defence allocation of approximately ₹7.8 lakh crore underscoring national security and indigenous capability building.

Anand underscored that while these measures present strong opportunities, they also raise important questions around execution, demand recovery, cost structures, exports, and credit availability. He reaffirmed the Bombay Chamber’s role as a trusted bridge between government and industry, committed to equipping its members with clarity, confidence, and actionable insights through knowledge-driven platforms.

The session was moderated by Dr. Sachchidanand Shukla, Chair, EPRD Committee, Bombay Chamber, and Group Chief Economist, L&T, and featured Navneet Munot, Director, Bombay Chamber, and MD & CEO, HDFC Asset Management Company; Madan Sabnavis, Chief Economist, Bank of Baroda; Rajan Raje, Director, Bombay Chamber, and Founder & CEO, NICHEM Solutions; Dipti Deshpande, Principal Economist, CRISIL; and Rajeshree Sabnavis, Director, Bombay Chamber, and Senior Advisor – Tax, GT Bharat LLP.

Setting the global context, Dr. Shukla observed that the world is entering a phase of heightened uncertainty driven by geopolitical shifts and changing economic assumptions. “We are witnessing a new global disorder, and the Union Budget must be viewed as part of a broader strategy to manage volatility while sustaining growth,” he said.

Providing a macroeconomic assessment, Dipti Deshpande noted that India’s fundamentals remain resilient despite global headwinds. “The macro house is in order, with sustainable growth, moderating inflation, and improved fiscal metrics. This budget extends India’s growth runway through continued capex and structural reforms,” she said.

Explaining fiscal and bond market dynamics, Madan Sabnavis addressed concerns around government borrowing. “The focus should be on net borrowing rather than headline numbers. Fiscal deficit control remains the key anchor, and post-budget market volatility was largely a short-term overreaction,” he said.

From a capital markets perspective, Navneet Munot advised investors to look beyond immediate market movements. “Budget day reactions are often misleading. India’s long-term growth story, supported by strong corporate balance sheets and domestic liquidity, remains firmly intact,” he said.

Addressing taxation and compliance, Rajshree Sabnavis highlighted steps taken to improve predictability and reduce compliance burden. “There is a clear move towards rationalisation, certainty, and lower compliance costs, although customs duty reform remains an area for further progress,” she said.

Focusing on MSMEs, Rajan Raje welcomed the shift from short-term relief to long-term capability building. “The Budget recognises that sustainable MSME growth requires upskilling, integration into formal supply chains, and innovative financing mechanisms,” he said.

The panel also discussed the outlook for the rupee, private sector capex revival, FDI flows, and the balance between public and private investment. Speakers broadly agreed that while the Budget remains capex-led, its success will depend on effective execution and stronger private sector participation.

Government of Maharashtra extends ESI Act coverage to Educational and Medical Institutions employing ten or more persons

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Notification regarding functioning of existing authorities under Industrial Disputes Act, Standing Orders Act and Trade Unions Act.

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Industrial Disputes Act, Industrial Employment Standing Orders Act and Trade Unions Act stand repealed from 21.11.25

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Central Government notifies wage limit for coverage of Supervisors as ‘Worker’ under the Labour Codes.

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