Cabinet clears ₹33,660 crore (USD $4.04 Billion) BHAVYA scheme for 100 industrial parks (Fortune India)
The Union Cabinet has cleared three major infrastructure and development initiatives. First is the ₹6,969 crore (USD $835 Million) Barabanki-Bahraich highway project in Uttar Pradesh, which will improve regional logistics, reduce travel time, and strengthen trade corridors in the state. Second, the Cabinet approved the Bharat Audyogik Vikas Yojna (BHAVYA), a ₹33,660 crore (USD $4.04 Billion) scheme to establish 100 world-class industrial parks over six years. These parks, ranging from 100 to 1,000 acres (with smaller footprints in hilly and Northeastern regions), will feature plug‑and‑play infrastructure funded at ₹1 crore per acre, developed through Special Purpose Vehicles (SPVs) in partnership with states and the National Industrial Corridor Development and Implementation Trust (NICDIT). The initiative is expected to deliver 33,660 acres of investment‑ready land, create 1.5 Million jobs, and complement the 20 industrial corridor parks already under the National Industrial Corridor Development Corporation (NICDC), of which four are operational and four nearing completion. Thirldly, the Cabinet sanctioned a ₹2,585 crore (USD $310 Million) scheme to promote small hydro power projects under 25 MW capacity. The plan targets an additional 1,500 MW of clean energy, tapping into India’s 21,000 MW potential (with only 5,100 MW currently installed across 1,196 sites). To incentivize development, projects in North Eastern states and border districts will receive up to ₹30 crore (USD $3.6 Million) per project, capped at ₹3.6 crore/MW or 30% of cost, while other states will get up to ₹20 crore (USD $2.4 Million) per project, capped at ₹2.4 crore/MW or 20% of cost. The scheme also allocates ₹30 crore (USD $3.6M) for preparing 200 detailed project reports (DPRs), with an expected reduction of 4.3 million tonnes of carbon emissions annually.
Women form 70% of India’s iPhone workforce: 100,000 employed (Financial Express)
Apple’s contract manufacturers Foxconn, Tata Electronics, and Pegatron employ nearly 140,000 workers in India’s iPhone factories, of which 70% (about 100,000) are women, mostly aged 19-24, according to industry data. The Production-Linked Incentive (PLI) scheme, launched in 2020 and ending 31 March 2026, has enabled Apple to assemble iPhones worth USD $70 Billion (INR ~5.8T), with USD $50 Billion (INR ~4.1T) exported, making smartphones India’s largest export category. Foxconn’s Tamil Nadu plant alone employs 40,000+ workers, while Tata’s Pegatron unit has 18,000+, with women forming 80% or more of the workforce in some facilities. To support this, companies have invested in six-week skilling programmes and hostel infrastructure, with nearly 100,000 hostel beds under construction, including complexes housing 18,000 women each. Wages have risen from ₹11,000/month in 2019 to ₹20,000/month in 2025, according to the India Cellular and Electronics Association (ICEA). Electronics and IT Minister Ashwini Vaishnaw noted that smartphone exports reached USD $30B (INR ~2.5T) in 2025, underscoring the sector’s role in reshaping India’s export basket.
India-Japan MSME collaboration to drive next phase of partnership (Fortune India)
The FICCI-Shardul Amarchand Mangaldas (SAM & Co) report highlights that the next phase of the India-Japan economic partnership will be driven by collaboration between Japanese mid‑sized firms (Chuken) and India’s MSMEs and mid‑sized manufacturers. These “Chuken‑to‑Chuken” partnerships aim to deepen technology transfer, expand production capabilities, and build resilient supply chains beyond traditional supplier models. Nine high‑potential sectors have been identified: semiconductors, EVs, pharmaceuticals, medical devices, renewable energy, advanced manufacturing, defence technologies, shipbuilding, railways, aviation, and digital finance. Japan is currently India’s fifth‑largest investor, with cumulative FDI of USD $45.69 Billion (INR ~3.8T) and over 1,500 Japanese companies operating in India. The India-Japan Vision for the Next Decade (2025) commits JPY 10 trillion (USD $67 Billion, INR ~5.6T) in Japanese private‑sector investment across manufacturing, electronics, mobility, renewables, and digital services. According to FICCI-SAM, these investments will solidify co‑created, sustainable supply chains, positioning India-Japan ties as one of the most strategic bilateral economic relationships of the coming decade.
India crosses 275 Giga Watt non-fossil fuel capacity, on track for 2030 target of 500 Giga Watt (News18)
India has crossed a major milestone with 275.45 GW of non-fossil fuel electricity capacity installed, putting the country on track to meet its 2030 target of 500 GW, according to the Ministry of New and Renewable Energy (MNRE) and Central Electricity Authority (CEA). Of this, solar power leads with 143.60 GW, followed by hydro (56.33 GW including pumped storage), wind (55.13 GW), bio‑power (11.61 GW), and nuclear (8.78 GW). Minister of State for Power and New & Renewable Energy Shripad Yesso Naik informed Parliament that transmission systems for 271.78 GW are already commissioned, with 207 GW under construction/bidding at the interstate level, and additional intrastate systems planned under the Green Energy Corridor (GEC) programme. Gujarat (44,916 MW) and Rajasthan (44,601 MW) lead renewable installations, followed by Maharashtra (31,666 MW), Tamil Nadu (27,828 MW), and Karnataka (26,421 MW). The government also reported domestic solar PV module manufacturing capacity of 172,592 MW, and wind turbine production capacity of 20,000 MW annually, with 70-80% indigenisation achieved in wind equipment. The PM Surya Ghar Muft Bijli Yojana, launched in 2024 to install rooftop solar in 1 crore households by FY27, has already achieved 25.87 lakh installations, strengthening India’s clean energy transition.
China became India's third-largest export market in February, overtaking the Netherlands (Business Standard)
According to Commerce Department data, China overtook the Netherlands to become India’s third‑largest export destination in February 2026. Overall exports fell 0.81% year‑on‑year to USD $36.61 Billion (INR ~3.05T), with shipments to seven of India’s top 10 markets contracting. Exports to China rose 32.4% YoY to USD $1.67 Billion (INR ~139B), driven by sectors such as electronics and marine products, though officials noted this was partly due to a low base effect. In contrast, exports to the Netherlands dropped 31.3% YoY to USD $1.29 Billion (INR ~107B), largely because of reduced shipments of refined petroleum products. The top 10 destinations together account for over 50% of India’s merchandise exports, underscoring the significance of this shift. Analysts warn that while China’s role as an export market is strengthening, India’s trade deficit with China remains above USD $100 Billion (INR ~8.3T), raising concerns for policymakers.
