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Gujarat targets 5 million DWT shipbuilding capacity by 2047 with new cluster-based incentive policy

The Gujarat government has approved a new Shipbuilding and Repair Policy, 2026, aiming to establish integrated manufacturing clusters and expand state capacity to 5 million deadweight tonnage by 2047. The framework introduces capital assistance, interest subvention, and infrastructure support to attract industrial investment into the marine sector.

India | 2 weeks ago

Economic Policy

Nepal targets 7% average growth and IT export push in new fiscal policy blueprint

Nepal’s government has outlined its fiscal 2026/27 agenda, focusing on economic transformation through IT service exports, hydropower, and governance reforms. The plan targets an average 7% real growth rate over the next decade, alongside a restructuring of tax systems and a renewed drive to attract foreign and diaspora investment.

2 weeks ago • Nepal

Economic Policy

India waives import taxes on critical petrochemicals until June 30 amid Middle East supply disruptions

India has exempted import taxes on over 40 petrochemical products, including methanol, PVC, and PTA, effective April 2 through June 30. The move responds to Middle East conflict-driven supply chain disruptions and aims to relieve downstream industries facing rising input costs.

2 weeks ago • India

Renewable Energy

India mandates domestic sourcing for solar ingots and wafers under expanded ALMM framework

The Ministry of New and Renewable Energy has extended its Approved List of Models and Manufacturers to include solar ingots and wafers. Effective June 2028, this policy aims to reduce import reliance and enforce backward integration across the domestic solar supply chain.

2 weeks ago • India

Chemicals & Fertilizers

Indian government withdraws QCO certification for seven additional petrochemicals

The Government of India has withdrawn 14 BIS quality control orders covering key petrochemicals, polymers, and fibre inputs. The move is intended to improve raw material availability, reduce compliance burdens, and support MSMEs in downstream manufacturing sectors reliant on imported and domestically sourced intermediates.

2 weeks ago • India

Latest News

Defence | 2 days ago

Elbit Systems secures $350 million international main battle tank modernization contract

Israel-based defense electronics company Elbit Systems has clinched a $350 million international contract to upgrade main battle tanks over a four-year period, integrating advanced situational awareness, AI-driven targeting, and modern communication suites.

Business & Corporate | 2 days ago

UPS commits USD 50 million to industrial logistics and launches time-definite Mexico air freight

UPS is investing nearly $50 million in specialized automotive and industrial network enhancements. The expansion introduces time-definite heavy air freight services between the U.S. and Mexico, streamlining cross-border production cycles and integrating brokerage and warehousing into a single-carrier solution.

Energy & Power | 2 days ago

NLC India selects Ohmium and InSolare for 4 MW green hydrogen project in Tamil Nadu

Ohmium International and InSolare Energy have partnered to deploy a 4 MW green hydrogen facility for NLC India Limited. Utilizing advanced Proton Exchange Membrane technology, the plant in Neyveli aims to produce 700 metric tons of hydrogen annually for industrial and mobility applications.

Business & Corporate | 2 days ago

Rashmi Group commits INR 350 billion to expand industrial footprint in West Bengal

Diversified industrial major Rashmi Group has announced a massive 35,000 million INR investment to scale its steel, power, and mining operations in West Bengal. The plan includes adding 7 million tonnes of annual steel capacity and operationalizing newly acquired coal blocks across several districts.