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Mumbai, March 13, 2026: As Artificial Intelligence moves from buzzword to boardroom priority, the Bombay Chamber of Commerce & Industry brought together some of India’s foremost business leaders at its CEO AI Conclave 2026 to explore how enterprises must evolve in an AI-driven world.

Opening the conclave, Rajiv Anand, President, Bombay Chamber and MD & CEO, IndusInd Bank, set a clear direction for India Inc.—the time to treat AI as a peripheral initiative is over. “India stands at a defining moment where AI must move beyond experimentation to become a core operating system for enterprises,” he said, urging organisations to think beyond fragmented use cases. “The real opportunity lies not just in adopting AI, but in embedding it contextually into business processes and decision-making frameworks.”

Drawing on India’s digital transformation journey, he pointed to the impact of the country’s digital public infrastructure. “Our digital stack transformed governance and citizen services in ways once considered impossible—AI now has the potential to extend that transformation across industries,” he added.

The panel discussion that followed, moderated by Srikanth RP, Editor, Express Computer, brought together A.S. Lakshminarayanan, MD & CEO, Tata Communications; Girija Subramanian, Chairman-cum-Managing Director, The New India Assurance Co. Ltd.; Dr. Indu Shahani, President & Chancellor, ATLAS SkillTech University; and Sharad Mahendra, Joint Managing Director & CEO, JSW Energy Limited. 

The discussion focussed on the need to fundamentally rethink how organisations approach AI. A.S. Lakshminarayanan observed, “Many organisations are still treating AI as a series of projects. The real shift is toward building an AI operating system that fundamentally transforms how businesses function.” 

At the same time, the panel acknowledged India’s unique position in this transition. Mahendra pointed to the country’s inherent adaptability as a critical strength, noting, “AI adoption in India is happening at an encouraging pace. There is a natural openness to adapt, and that gives Indian enterprises a strong edge in leveraging emerging technologies.” 

The conversation also turned to the transformative implications for India’s vast MSME ecosystem. Subramanian highlighted how AI could help bridge long-standing capability gaps, observing, “AI has the potential to level the playing field. MSMEs, which traditionally lacked access to sophisticated systems and processes, can now operate on par with large corporations.” In this context, AI is seen not just as a driver of efficiency, but as an enabler of inclusion and equitable growth.

Adding a human dimension to the discussion, Dr. Indu Shahani focused on the changing nature of skills and leadership in the AI era. She underscored the importance of openness to learning across hierarchies, stating, “Reverse mentoring is becoming essential in the AI era. Leaders must be open to learning from younger, digitally native talent who are not just preparing for the future—they are ready to create it.” As the discussion progressed, the panel collectively reflected on AI’s broader role in shaping India’s development trajectory. There was a shared recognition that AI could replicate—and even amplify—the impact of earlier digital innovations. 

A key highlight of the evening was the launch of The CEO’s AI Playbook: Unlocking the Strategic Value of AI, a landmark publication by the Bombay Chamber in collaboration with the Indian Express Group (Express Computer). Featuring insights from nearly 50 CEOs, the Playbook captures how AI is driving enterprise transformation—shaping growth strategies, governance, operational excellence, and customer impact across industries.

The conclave concluded with a vote of thanks by Sudhanshu Vats, Senior Vice President, Bombay Chamber and Managing Director, Pidilite Industries Ltd., who reflected on the significance of the dialogue and the responsibility to carry it forward. “This conclave reflects the Chamber’s commitment to staying at the forefront of transformative conversations, even as one of India’s oldest institutions,” he said, adding that the insights shared must continue to resonate beyond the room. 

Bringing together diverse perspectives and practical insights, the AI Conclave 2026 reinforced a clear message: for India Inc., the future of AI lies not in isolated adoption, but in integrated, enterprise-wide transformation—one that has the potential to redefine competitiveness, inclusion, and growth in the years ahead.

Mumbai: Bombay Chamber of Commerce & Industry recently organised its HR Conclave themed HR Kinetic: Leadership in the Age of Gen Z at Four Seasons Hotel Mumbai.

Welcoming the delegates, Sandeep Khosla, Director General, Bombay Chamber said, “Today’s Conclave focuses on one of the most significant workforce shifts of our time—the rise of Gen Z in the workplace. As the first generation of true digital natives, Gen Z is bringing new expectations around purpose, flexibility, inclusion, and impact. They are not only entering organisations but are also reshaping workplace culture and redefining what leadership means in the modern era. For organisations and leaders, this shift requires a fundamental rethink of how we engage, motivate, and develop talent. Leadership today must be more agile, empathetic, and transparent, while workplaces must evolve to foster collaboration, innovation, and well-being. The theme of this conclave—HR Kinetic—reflects precisely this need for dynamism and adaptability. In an environment marked by rapid technological change, evolving workforce expectations, and new models of work, HR leaders play a pivotal role in shaping organisations that are future-ready and resilient.”

Setting the theme for the Conclave, Ruhie Pande Chairperson, HRM Committee, Bombay Chamber and Group CHRO & CMO, Serentica, Resonia, and Sterlite Electric said, “This is the first time in history that five generations are working together, and they are doing so in a world that is changing faster than any leadership playbook we inherited. the real question for us today is not ‘How do we manage Gen Z?’ It is: How do we lead in a world where Gen Z is setting the pace—and AI is rewriting the rules?”
She observed that the human–machine leadership challenge is where HR must balance efficiency with meaning and fairness. “Where does this leave us—as HR leaders, business leaders, and culture carriers? It tells us three things. First, leadership is shifting from control to context. People don’t need to be told what to do as much as they need to understand why it matters. Second, HR’s role is moving from policy to experience design. Not just benefits and processes—but how work feels on a Monday morning. Third, credibility now comes from learning velocity, not tenure. Gen Z respects leaders who are curious, adaptive, and willing to unlearn. AI can give us data. Gen Z is giving us feedback. The question is whether we are listening—or defending,” she pointed out.

In his keynote address on Redefining Work Culture: How Gen Z is Transforming Well-being, Flexibility, and Authenticity at Work, Dr. Adil Malia, Mentor, HRM Committee, Bombay Chamber and CEO, The Firm stated, “Managing Gen Z (and upcoming generations) is fundamentally different from managing earlier generations; traditional leadership and management styles will not work.

Organisations risk making serious strategic mistakes if they apply old management frameworks to new-generation employees. We should focus on what motivates Gen Z? What do they value at work? How are expectations around leadership, flexibility, and purpose different? What leadership behaviours work best for them?”

To prepare for the Gen Z workforce, Dr Malia said that HR leaders must, “Understand deep generational insights first. Filter and evaluate each organisational system through the lens of Gen Z behaviours and expectations and integrate all systems cohesively rather than implement isolated best practices. Sustainable value creation requires system-wide integration, not random adoption of tools or trends. Cultural and systemic change will not happen automatically. Leaders themselves are responsible—it cannot be delegated, wished for, or spoken into existence. Real change requires deliberate action, effort, and ownership from leadership and leaders must actively drive transformation to make organisations future ready.”

This was followed by a panel discussion on Leading with Authenticity: What Leaders expect from Gen Z & Vice versa. The panel was moderated by Dr. Sanjay Muthal, Member, HRM Committee, Bombay Chamber, and CEO, Argolynx Consulting LLP and the panelists included Shefali Kohli, CHRO – Chemicals, Filament Yarn & Insulators, Aditya Birla Group; Reena Tyagi, Chief People &
Organisation Officer, Generali Central Life Insurance and Amit Chincholikar, Group President – HR, Hinduja Group Ltd. The panel highlighted the core leadership challenge of understanding who Gen Z really are and adapting leadership and supervision styles accordingly. The members observed that what Gen Z truly seek is Authenticity, Trust and Transparency.

The second panel discussion deliberated on Empowering Gen Z: Technology, Hybrid Work and the Skills for Tomorrow. The moderator was Ruhie Pande and the panelists were Sejal Mody, CHRO, Akasa Air; Sanjivani Sadani, Chief People Officer,
Cipla; Megha Goel, CHRO, Godrej Properties Ltd and Somna Singh, Country HR Head, Bank of America Merrill Lynch. The key takeaways were that Gen Z is a catalyst, not a challenge. That AI must enhance judgement, inclusion and empathy and learning must be relevant, short, and human. The panel concluded that flexibility, purpose, and trust are universal—not generational and that organisations must evolve with Gen Z, not design for Gen Z alone.

This was followed by The Great HR Debate on AI a Tool for Business Value Creation Or Disruption. The debate was moderated jointly by Dr. Tanaya Mishra, Member, HRM Committee, Bombay Chamber & Global CHRO, In-solution Global Ltd and Lucky Kulkarni, Member, HRM Committee, Bombay Chamber, Group CHRO & Member Management Committee, Jeena & Co.
The panel members were Rita Verma, Chief Talent Officer, Omnicom Media India; Harsha Almad, VP, India Consulting Hub Lead, Wipro; Sareeta Bhatikar, CHRO, Jio-bp and Dr. Prasanth Nair, Member HRM Committee, Bombay Chamber & CHRO, Crompton Greaves Consumer Electricals Ltd.

The debate was followed by a CEO session moderated by Hareesh Tibrewala, Founder and CEO, Manabu AI Services and the panel included Pankaj Gupta, MD & CEO, Godrej Finance; Abe Thomas, CEO – Music Broadcast Ltd. and Gopal Asthana, CEO, Tata CLiQ.

March 13, 2026; The REITs & Asset Tokenisation Conclave 2026: Blocks to Billions – Advancing India’s Real Estate Future, organised by the Bombay Chamber of Commerce & Industry, brought together regulators, legal experts, real estate professionals, investors, and technology innovators to discuss how digitalisation, tokenisation, and regulatory reforms are reshaping India’s real estate investment ecosystem. The conclave examined the growing role of Real Estate Investment Trusts (REITs), fractional ownership, and blockchain-enabled tokenisation in unlocking liquidity and expanding investor participation in real estate markets.

In his Welcome Address, Sandeep Khosla, Director General, Bombay Chamber of Commerce & Industry, emphasised the Chamber’s role as a platform for constructive dialogue between industry stakeholders and policymakers. He highlighted that as real estate evolves through digital transformation and financial innovation, forums such as this provide an important opportunity to examine regulatory developments, emerging investment structures, and the broader implications of technology-driven financial markets.

Setting the context for the discussion, Shaan Zaveri, Partner, Terazo, delivered the Theme Setting Address, highlighting the convergence of financial innovation and digital infrastructure in reshaping how real estate assets are structured, distributed, and accessed by investors.

Delivering the Keynote Address, Rajesh Bansal, Former Chief Executive Officer, Reserve Bank Innovation Hub, spoke about the transformative potential of REITs and asset tokenisation in India’s real estate ecosystem. He noted that digitalisation can significantly enhance accessibility in real estate investments while improving transparency and efficiency across the sector. Emphasising that tokenisation represents an inevitable evolution in financial markets, he highlighted the need for a more professional, well-regulated, and investor-friendly real estate environment to support sustainable growth.

The first panel discussion, Regulatory Reforms and Investor Perspectives, examined the evolving regulatory landscape and the structural challenges associated with tokenised real estate assets. The session was moderated by Ajit Krishnan, Tax Partner, EY India, and featured Sudhakar Deshmukh, Director – Complaint Management, MahaRERA; Sandeep Parekh, Managing Partner, Finsec Law Advisors; Devi Shankar, Head – Real Assets & Family Office Investments, CBRE; and Girish Singhi, Founder, Crest Capital.

The discussion highlighted that tokenisation represents a shift toward a more digital real estate marketplace, but its success will depend on reliable digital land records, strong blockchain infrastructure, and supportive regulatory frameworks. Panellists emphasised that global experience suggests the need for a well-developed ecosystem before tokenised assets can scale effectively. They also noted that investors must clearly understand that purchasing tokens represents a financial interest linked to an asset rather than direct ownership of property. Additionally, transparency of assets, governance standards, and gradual regulatory adoption were identified as key factors for building long-term market confidence.

Delivering a Special Address on the Roadmap to Tokenised Assets, Pramod Rao, Former Executive Director, Securities and Exchange Board of India (SEBI), underscored the importance of strong regulatory frameworks in enabling innovation within financial markets. He noted that the responsible adoption of new instruments such as REITs and tokenised assets must be supported by transparency, investor protection, and regulatory oversight to ensure long-term stability and trust in India’s capital markets.

The second panel discussion, Real Estate Funds 2.0: Tokenisation Meets Digital Distribution, explored how technology platforms are transforming the way real estate investments are structured and distributed. The session was moderated by Neil Borate, Editor-in-Chief, The Fynprint, and featured Shiv Parekh, Founder & CEO, hBits; Shaan Zaveri, Partner, Terazo; Gaurav Gadhecha, Partner, Terazo; and Deakin Daney, Chief Business Officer & Head – RealX Whitebox.

The panel highlighted how digital platforms and tokenisation can expand access to real estate investment by lowering entry barriers and enabling fractional ownership structures. Speakers noted that digital distribution models could improve liquidity in traditionally illiquid real estate assets, allowing a broader pool of investors to participate. At the same time, they stressed that regulatory clarity, strong governance frameworks, and transparent investment structures will be critical for building investor confidence and scaling these innovations in India’s real estate market.

The conclave concluded with a Vote of Thanks delivered by Ashith Kampani, Chair – PE & VC Committee, Bombay Chamber of Commerce & Industry and Chairman, CosmicMandala 15 Group, followed by networking among participants.

The ICANN85 Community Forum, organized by the Internet Corporation for Assigned Names and Numbers (ICANN) and hosted in collaboration with the National Internet Exchange of India (NIXI) under Ministry of Electronics and IT (MeitY) brought global Internet stakeholders to Mumbai to discuss how to support an open, secure, inclusive, and resilient Internet across the global Internet ecosystem.

The ICANN85 Community Forum is currently taking place in Mumbai. It started on 7th March, 2026 and will continue till 12th March 2026.

A high-level Government and Industry session held today, brought together senior government officials and Internet leaders including the Secretary, Ministry of Electronics and Information Technology (MeitY), Shri S. Krishnan; Chief Secretary, Government of Maharashtra, Shri Rajesh Aggarwal; Joint Secretary, MeitY, Shri Sushil Pal; Chief Executive Officer, NIXI, Dr. Devesh Tyagi; and ICANN Board Chair, Ms. Tripti Sinha; ICANN President and CEO, Mr. Kurtis Lindqvist; and ICANN Vice President for Stakeholder Engagement and Managing Director for the Asia Pacific region, Shri Samiran Gupta.

“The Internet today has become critical infrastructure that supports economies, public services, innovation, and everyday life across the world. As digital adoption continues to grow, it is important that we work together to ensure the Internet remains open, secure, resilient, and inclusive. Platforms like ICANN bring together governments, the private sector, the technical community, and civil society to strengthen the multistakeholder approach to Internet governance. India remains committed to contributing to these global efforts and to building trusted digital infrastructure that supports innovation, cooperation, and meaningful participation from all regions.” said the Secretary, Ministry of Electronics and Information Technology (MeitY), Shri S. Krishnan.

“The Internet today is a critical part of economic growth, governance, and daily life. Platforms like ICANN85 provide an important opportunity for governments, technical experts, and industry stakeholders to come together and discuss how we can keep the Internet open, secure, and accessible for everyone. Such discussions help strengthen cooperation and ensure that the Internet continues to support innovation and development across regions,” said Rajesh Aggarwal, Chief Secretary, Government of Maharashtra.

“The world grows more complex and, at times, more divided — which is precisely why the Internet’s stability and integrity matter more deeply now than ever before. Today, that original call rings louder and truer than ever. It asks us to be steady and disciplined in how we work, transparent and accountable in how we decide, and unwavering in our commitment to an Internet that is secure, stable, and reflective of the diverse humanity it serves,” said Ms. Tripti Sinha, ICANN Board Chair.

“My focus this week is practical. I want us to leave Mumbai with meaningful progress on the work the community has prioritized, and with momentum on the milestones that are coming next,” said Kurtis Lindqvist, ICANN President and CEO. This community works best when we combine deep experience with fresh eyes, and when we bring more people into the work, especially from regions that have not always been in the center of these conversations, he added.

The ICANN85 Community Forum is comprised of more than 200 sessions involving governments, industry leaders, technical experts, and civil society participants from around the world. The sessions focus on key issues related to the secure and stable operation of the Internet, including the evolution of the Domain Name System, cybersecurity practices, and the upcoming expansion of generic top-level domains (gTLDs). Discussions throughout the week will highlight the importance of the multistakeholder model in Internet governance, where the ICANN community collaborates to develop policies, implement solutions, and support the continued operation of a secure, stable, and globally interoperable Internet.

About ICANN

ICANN’s mission is to help ensure a stable, secure, and unified global Internet. To reach another person on the Internet, you need to type an address – a name or a number – into your computer or other device. That address must be unique, so computers know where to find each other. ICANN helps coordinate and support these unique identifiers across the world. ICANN was formed in 1998 as a nonprofit public benefit corporation with a community of participants from all over the world.

About NIXI

The National Internet Exchange of India (NIXI) is a not-for-profit organization set up under the aegis of the Ministry of Electronics and Information Technology (MeitY), Government of India. NIXI plays a critical role in strengthening India’s Internet infrastructure by facilitating efficient exchange of domestic Internet traffic, managing the .IN and .भारत (.Bharat) country-code top-level domains, and promoting adoption of Internet services across the country. Through its initiatives, NIXI supports a secure, resilient, and inclusive Internet ecosystem aligned with India’s digital growth ambitions.

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.

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.

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.

Nirmala Sitharaman Outlines Three ‘Kartavya’ Priorities to Drive India’s Growth, Inclusion and Reform Agenda

In her ninth consecutive Union Budget 2026-27, Finance Minister Nirmala Sitharaman delivered a Budget which placed a large emphasis on infrastructure, with the government raising public capital expenditure to ₹12.2 lakh crore for the upcoming fiscal year—an increase of nearly 9 % from the previous year’s allocation and a record high aimed at strengthening national infrastructure across roads, railways, ports, metro projects and logistics networks.

In addition to the infrastructure thrust, the Budget included measures to support industry, including the launch of a ₹10,000 crore SME Growth Fund to enhance capital access for Micro, Small and Medium Enterprises, a ₹4,000 crore top-up to the Self-Reliant India Fund, and expanded credit and liquidity mechanisms for smaller businesses. Further manufacturing support was outlined through initiatives such as the expanded Electronics Components Manufacturing Scheme with a ₹40,000 crore outlay and continued emphasis on strategic sectors like semiconductors, biopharma, textiles and container manufacturing.

The Budget was anchored around three key “Kartavya” priorities outlined by the Finance Minister—accelerating and sustaining economic growth, fulfilling aspirations and building capacity, and ensuring inclusive access to growth. These priorities were reflected across announcements spanning infrastructure expansion, support for MSMEs and strategic manufacturing sectors, continued reforms to simplify processes and improve efficiency, and people-centric measures aimed at strengthening education, skills and access to essential services.

Reactions from Bombay Chamber Leaders:

Rajiv Anand, President, Bombay Chamber and Managing Director & CEO IndusInd Bank Limited:

“The Union Budget 2026 maintains continuity by focusing on capital expenditure, with a moderate increase in budgetary spending, while keeping the tax code largely unchanged, thereby providing policy stability. Fiscal consolidation anchored in a debt-to-GDP target offers flexibility to pursue countercyclical support, if needed, amid a challenging external environment. A comprehensive review of banking system regulations, development of transport and logistics infrastructure, capital and liquidity support for MSMEs, budgetary support for strategic sectors in manufacturing and services, and initiatives to develop skills will help enhance factor productivity and drive long-term growth.”

Sudhanshu Vats, Sr Vice President, Bombay Chamber and Managing Director, Pidilite Industries Ltd.

The Union Budget 2026–27 reinforces strong confidence in India’s growth trajectory, anchored in manufacturing, infrastructure and consumption. The continued focus on domestic manufacturing across chemicals, electronics and capital goods strengthens supply-chain resilience and supports India’s ambition to be a globally competitive production hub. With public capex at ₹12.2 lakh crore, demand across housing, construction and infrastructure-linked industries will remain robust. It will also dial up tourism and employers . The emphasis on digital infrastructure, Automation & AI-led Customs reforms and trade facilitation will enhance ease of doing business and global integration. Overall, the Budget provides the confidence to invest, innovate and scale alongside India’s long-term economic vision. Onwards to a Viksit Bharat 2047.

Nilesh Shah, Past President, Bombay Chamber and Group President & MD, Kotak Mahindra AMC:

This budget has proposed a capital expenditure of Rs 12.10 lac crore which is more than the net market borrowing of Rs 11.70 lac crore. I pray that a path is laid where one day capital expenditure will be more than the total borrowing including small savings.

Sudhir Kapadia, Past President Bombay Chamber and Senior Advisor, EY

The reform process has continued steadily into 2026, building strongly on the Viksit Bharat 2047 vision. The TCS-related announcements appear globally competitive and send a clear signal of long-term policy intent—possibly the first taxation measure framed with a horizon extending up to 2047. Portfolio investment prospects also look promising. The proposed measures, including support for data centres, are particularly significant given that Indian data centre companies are expected to attract investments of nearly USD 11 billion in the sector.

Key Highlights of the Budget 2026-27

Fiscal and Expenditure Highlights

• Record capital expenditure allocation: ₹12.2 lakh crore for FY 2026–27, up from ₹11.2 lakh crore in the previous year—continuing a strong infrastructure push.
• Defence budget increase: Allocation expanded significantly with around ₹7.8 lakh crore earmarked for defence.

Infrastructure and Connectivity
• Seven new high-speed rail corridors announced connecting major cities such as Mumbai–Pune, Pune–Hyderabad, and Hyderabad–Bengaluru.
• Dedicated freight corridors and rare earth mineral corridors planned in mineral-rich states to support strategic manufacturing and logistics.
• Expansion of 20 national waterways and coastal/service logistics enhancements.
• Introduction of a Seaplane VGF (Viability Gap Funding) Scheme to improve regional connectivity and tourism access.
• Focus on developing Tier II and Tier III temple towns through improved infrastructure and visitor amenities.

Industry, Manufacturing & Investment
• India Semiconductor Mission 2.0 launched with a ₹40,000 crore outlay to boost chip production and tech supply chains.
• New support schemes for Biopharma, textiles, chemicals and container manufacturing to strengthen domestic value chains.
• A ₹10,000 crore SME Growth Fund to deepen access to capital for MSMEs.

Tax Reforms & Compliance
• Continued simplification of the tax system with an updated Income Tax Act coming into effect from 1 April 2026.
• Reduced TCS (Tax Collected at Source) on overseas travel, education, and medical remittances to 2% under the Liberalised Remittance Scheme.
• Additional procedural ease measures, extended return filing timelines and foreign asset disclosure relief for small taxpayers.
• Customs duty on goods imported for personal use reduced from 20% to 10%.
• Revised rules to enhance baggage allowance for travellers and simplify temporary carriage of goods.
• TCS on overseas tour packages rationalised from 5%/20% to a flat 2%.
• TCS under LRS for education and medical purposes reduced from 5% to 2%.

Social Welfare & Human Capital
• Proposals for one girls’ hostel in every district to improve educational access.
• Expansion of healthcare facilities, multiple AYUSH institutes, and training programmes for allied health professionals.
• Focus on tourism, education-to-employment frameworks, and digital media content labs in schools and colleges.
• Medical tourism to be strengthened through 5 regional hubs.
• National Institute of Hospitality to strengthen training and workforce readiness in the hospitality sector.
• Training of 10,000 tourist guides across 20 sites through a 12-week programme (in partnership with IIMs).
• Creation of a National Destination Digital Knowledge Grid to digitally map and strengthen destination planning and promotion.
• Development of 15 archaeological sites to enhance heritage and cultural tourism.
• Development of Buddhist tourism sites across 6 Northeast states.
• Promotion of trekking and hiking through sustainable trail development.
• Global Big Cat Summit 2026 to support wildlife conservation and eco-tourism.

Macroeconomic Targets
• Fiscal deficit targeted at ~4.3% of GDP, indicating continued fiscal discipline alongside expanded public spending.

Hon’ble Prime Minister Shri Narendra Modi and European Commission President H.E Ms. Ursula von der Leyen, today jointly announced the conclusion of the India–European Union Free Trade Agreement (India–EU FTA) at the 16th India–EU Summit, held during the visit of the European leaders to India. This announcement marks a historic milestone in India–EU economic relations and trade engagement with key global partners.

The conclusion of this FTA positions India and the European Union as trusted partners committed to open markets, predictability, and inclusive growth. The FTA comes after intense negotiations since the re-launch of negotiations in 2022. The announcement of the FTA today marks the culmination of years of sustained dialogue and cooperation, between India and the EU, demonstrating the political will and shared vision to deliver a balanced, modern, and rules-based economic and trade partnership.

The European Union is India’s one of the largest trading partner, with bilateral trade in goods and services growing steadily over the years. In 2024–25, India’s bilateral trade in goods with the EU stood at INR 11.5 Lakh Crore (USD 136.54 billion) with exports worth INR 6.4 Lakh Crore (USD 75.85 billion) and imports amounting to INR 5.1 Lakh Crore (USD 60.68 billion). India-EU trade in services reached INR 7.2 Lakh Crore (USD 83.10 billion) in 2024.

India and EU are 4th and 2nd largest economies, comprising 25% of Global GDP and account for one third of global trade. Integration of the two large diverse and complementary economies will create unprecedented trade and investment opportunities.

Union Minister for Commerce and Industry, Shri Piyush Goyal, lauded the strategic vision and steadfast leadership of Hon’ble Prime Minister Shri Narendra Modi. He stated:

“The conclusion of the India–European Union Free Trade Agreement represents a defining achievement in India’s economic engagement and global outlook. This supports India’s approach to secure trusted, mutually beneficial and balanced partnerships.

Beyond a conventional trade deal, it represents a comprehensive partnership with strategic dimensions and is one of the most consequential FTA. India has secured unprecedented market access for more than 99% of Indian exports by trade value to the EU that also bolsters the ‘Make in India’ initiative. Beyond goods, it unlocks high-value commitments in services complemented by a comprehensive mobility framework enabling seamless movement of skilled Indian professionals. India, powered by a young and dynamic workforce and one of the fastest-growing major economies, stands poised to leverage this FTA to create jobs, spur innovation, unlock opportunities across sectors, and enhance its competitiveness on the global stage.”

The India-EU trade pact covers conventional areas such as trade in goods, services, trade remedies, rules of origin, customs and trade facilitation, as well as emerging areas such as SMEs and digital trade, amongst others. The India–EU FTA gives a decisive boost to its labour-intensive sectors such as textiles, apparel, leather, footwear, marine products, gems and jewellery, handicrafts, engineering goods, and automobiles bringing down tariffs up to 10% on almost 33 bn USD of exports to zero on entry into force of the Agreement. Beyond enhancing competitiveness, it empowers workers, artisans, women, youth, and MSMEs, while integrating Indian businesses more deeply into global value chains and reinforcing India’s role as a key player and supplier in global trade.

On automobiles, calibrated and carefully crafted quota based auto liberalisation package will not only allow EU auto makers to introduce their models in India in higher price bands but also open the possibilities for Make in India and exports from India in future. Indian consumers to benefit from high tech products and greater competition. The reciprocal market access in EU market will also open up opportunities for India made automobiles to access EU market. India’s agricultural and processed food sectors are poised for a transformative boost under the India–EU FTA, creating a level playing field for Indian farmers and agrarian enterprises. Key commodities such as tea, coffee, spices, fresh fruits and vegetables, and processed foods will gain enhanced competitiveness, strengthening rural livelihoods, promoting inclusive growth, and reinforcing India’s position as a trusted global supplier. India has prudently safeguarded sensitive sectors, including dairy, cereals, poultry, soymeal, certain fruits and vegetables, balancing export growth with domestic priorities.

Beyond tariff liberalisation, the FTA provides measures to tackle non-tariff barriers through strengthened regulatory cooperation, greater transparency, and streamlined customs, Sanitary and Phytosanitary (SPS) procedures, and Technical Barriers to Trade disciplines. Through CBAM provisions, commitments have been secured including a forward-looking most-favoured nation assurance extending flexibilities if any granted to third countries under the regulation, enhanced technical cooperation on recognition of carbon prices, recognition of verifiers, as well as financial assistance and targeted support to reduce greenhouse gas emissions and comply with emerging carbon requirements.

Services being dominant and faster-growing part of both economies will trade more in future. Certainty of market access, non-discriminatory treatment, focus on digitally delivered services, ease of mobility will provide boost to India’s services exports. The FTA secures expanded and commercially significant commitments from the EU across key sectors of Indian strength, including IT and IT-enabled services, professional services, education, financial services, tourism, construction, and other business sectors.

India’s predictable access to EU’s 144 subsectors (which includes IT/ITeS, Professional Services, Other Business Services and Education Services) will provide boost to Indian service providers and enable them to provide competitive world class Indian services to EU’s consumers  while EU’s access to 102 subsectors offered by India will bring in high tech services, investment into India from EU resulting in a mutually beneficial arrangement.

On mobility, the India-EU FTA provides a facilitative and predictable framework for business mobility covering short-term, temporary and business travel in both directions. These enable professionals to travel between the two economies to provide services under different scenarios. EU and India is providing mobility commitments to each other for Intra-Corporate Transferees (ICT) and Business Visitors, along with entry and working rights for dependents and family members of ICTs. The EU has also offered commitments in 37 sectors/sub-sectors for Contractual Service Suppliers (CSS) and 17 sectors/sub-sectors for Independent Professionals (IP), many of which are sectors of interest to India, including Professional Services, Computer and related Services, Research and Development Services, and Education Services.

India also secured a framework to constructively engage on Social Security Agreements over a five-year horizon, together with framework supporting student mobility and post-study work opportunities. Additionally, India has also secured access for practitioners of Indian Traditional Medicine to work under home title in EU Member States where traditional medical practices are not regulated.

In financial services, the FTA promotes cooperation to advance innovation and secure cross-border electronic payments, while providing India with enhanced market access across several major EU member states. These provisions are expected to deepen financial integration and support the growth of financial services trade. These commitments not only unlock high-value employment opportunities but also reinforce India’s position as a global hub for talent, innovation, and sustainable economic growth.

The FTA reinforces intellectual property protections provided under TRIPS relating to copyright, trademarks, designs, trade secrets, plant varieties, enforcement of IPRs, affirms Doha Declaration and recognises the importance of digital libraries, specifically the Traditional Knowledge Digital Library (TKDL) project initiated by India. The FTA is expected to facilitate cooperation in critical areas like Artificial Intelligence, clean technologies, and semiconductors, supporting India’s technological advancement.

The FTA is expected to substantially scale up trade, enhance export competitiveness, and integrate Indian businesses more deeply into the European and global value chains. The India–EU FTA marks a new chapter in bilateral economic engagement, strengthening trade, and strategic cooperation between India and the 27-member EU bloc. Cognizant of multifarious objectives placed on trade, dynamic nature of trade, fast evolving technologies and increasing regulatory complexities, the Agreement embeds multiple review, consultation and response mechanisms to deal with new, sudden challenges which emerge in future. The Agreement relies on strong stewardship and trust to deliver gains for both sides.

EU becomes India’s 22nd FTA partner. The Government since 2014 has signed trade deals with Mauritius, UAE, UK, EFTA, Oman and Australia, and announced trade deal with New Zealand. In 2025, India signed trade deal with Oman and UK and announced conclusion of trade deal with NZ. The India-EU trade deal, along with India’s FTA with the UK and the EFTA effectively opens up the entire European market for Indian businesses, exporters and entrepreneurs.

Beyond boosting commerce, it reinforces shared values, fosters innovation, and creates opportunities across sectors and stakeholders from MSMEs, women and skilled professionals to farmers and exporters. Aligned with India’s vision of “Viksit Bharat 2047,” the FTA positions India as a dynamic, trusted, and forward-looking partner on the global stage, setting the foundation for inclusive, resilient, and future-ready growth for both regions.

Source: Press Information Bureau, Government of India.

Chamber Note

As India strengthens its global trade partnerships, the Chamber continues to convene industry leaders and policymakers to deliberate on opportunities in shipbuilding and maritime innovation. These themes will be explored at the upcoming International Conference on Shipbuilding Global Harit Nauka Summit: Trust, Collaborate, Impact