Not necessary to be in SEZs to export, now it can be done from districts: FM Sitharaman (The Hindu)
Finance Minister Nirmala Sitharaman announced that India’s exports hit a record $825 billion in FY25, growing at 6.3%—outpacing global export growth of 4%—thanks to policy shifts that allow exports beyond SEZs through initiatives like PLI, ODOP, and DEH. The government’s “clustered” approach has diversified export bases to districts and encouraged high-tech, IP-driven exports in sectors like electronics, telecom, and pharma, which alone contributed over ₹5.31 lakh crore ($62 billion). This marks a transformation from commodity-heavy trade to value-added, innovation-led exports, reshaping India’s global trade identity.
Data errors should be minimal, need to follow Japanese standards: Niti CEO (Business Standard)
NITI Aayog CEO B.V.R. Subrahmanyam emphasized that even a 5% data error rate in schemes like LPG subsidies can exclude millions, calling for near-zero error standards akin to Japan’s 0.0001% benchmark. India’s fragmented, outdated data systems—built in silos without proper validation or interoperability—are hindering effective delivery of welfare and inflating costs. A new data quality framework now urges ministries to self-audit and adopt standardized scorecards to shift governance from scale to precision, making accuracy a national imperative.
India turning Chabahar into port of choice: shipping secy (mint)
India is accelerating the development of Iran’s Chabahar Port—handling 80,000 TEUs and 3 million tonnes of bulk cargo in FY25—as a strategic alternative to Bandar Abbas, which lies near the vulnerable Strait of Hormuz. Amid escalating West Asian tensions and the risk of chokepoint disruption, Chabahar offers India uninterrupted access to Central Asia and Afghanistan, bypassing Pakistan and the CPEC route. With rail connectivity to Zahedan expected by 2026–27, the port is set to become a key gateway for the International North–South Transport Corridor, enhancing India’s geopolitical and trade influence across Eurasia.
Innovation portal launched for ₹5k cr pharma R&D plan (mint)
The Department of Pharmaceuticals has launched the ₹5,000-crore PRIP scheme to boost R&D in India’s pharma and medtech sectors, addressing the country’s low research spend of just $3 billion compared to the US ($60B) and China ($20B). The scheme includes setting up Centres of Excellence across NIPERs and offering financial support—up to ₹125 crore for large firms and ₹1 crore for startups—to promote innovation in six critical areas, from rare diseases to drug-resistant treatments. With India’s pharmaceutical market valued at $50 billion and exports at $26.5 billion, PRIP aims to turn India from a generics giant into a research-driven global leader.
