Finance Minister Nirmala Sitharaman announced a fresh allocation of ₹10,000 crore to the SME Growth Fund in her Budget speech on Sunday, February 1, 2026, aiming to provide renewed support to lakhs of small businesses across the country. The fund is expected to give a significant boost to Micro, Small, and Medium Enterprises, enabling entrepreneurs to access much-needed capital amid a tight credit environment. Presenting her ninth Union Budget in Parliament, Ms. Sitharaman said the fund would support the expansion of high-potential firms and help business clusters recover from prolonged
South Korea’s exports extended their growth streak in January, supported by strong semiconductor demand and a higher number of working days compared to the previous year due to a favourable calendar. Unadjusted shipments rose 33.9% year-on-year, according to data released by the Trade Ministry, following a 13% increase in December. Imports grew 11.7%, resulting in a trade surplus of $8.74 billion. However, economists noted that the headline figure was likely distorted by the timing of the Lunar New Year holidays. On a working-day adjusted basis, exports increased by a more moderate 14%,
Days after concluding the Free Trade Agreement (FTA) negotiations with the European Union, Union Minister of Commerce and Industry Piyush Goyal said that countries across the world are increasingly looking at India’s future potential while engaging in trade discussions. Mr. Goyal described the agreement as a long-awaited but carefully negotiated deal, stressing that it was concluded without any artificial deadlines or external pressure. Addressing speculation around the timing of the deal, especially with EU leaders attending India’s Republic Day celebrations, the minister said the con
India’s industrial landscape is undergoing a historic transformation. According to the Economic Survey 2026 presented in Parliament, the electronics sector has emerged as the country’s third-largest export category and is now poised to claim the second position, behind only traditional export leaders. This rapid rise reflects India’s growing role in the global electronics supply chain. The most striking success story within the sector is mobile phone manufacturing. A decade ago, India’s mobile production stood at just Rs 18,000 crore. By the end of the 2025 financial year, this fig
India has marked a major milestone in global agri-trade by participating as a Partner Country at Gulfood 2026 in Dubai, for the first time in the event’s 31-year history. This development highlights India’s growing prominence in the global food and beverage market and reflects its deepening economic engagement with the Gulf region. India’s participation is being led by the Agricultural and Processed Food Products Export Development Authority (APEDA) under the Ministry of Commerce and Industry. Gulfood 2026 is also being held at two venues for the first time, the Dubai World Trade Cen
Saudi Arabia’s total investment volume surpassed SR1.5 trillion ($400 billion) for the first time in 2025, Minister of Investment Khalid Al-Falih announced, highlighting strong momentum driven by rising foreign capital inflows. Speaking at the Government Press Conference in Riyadh, Al-Falih said the Kingdom expects foreign direct investment inflows of between SR140 billion and SR150 billion in 2025, a five-fold increase from SR28 billion in 2017. The surge supports Saudi Arabia’s Vision 2030 target of attracting $100 billion in annual FDI by the end of the decade. He noted a sharp r
Dubai is planning to invest more than 100 billion dirhams ($27 billion) to expand its international financial hub as rising demand from foreign firms has pushed existing facilities to capacity. The Dubai International Financial Centre (DIFC) will develop a new district opposite its original site, which was launched in 2004. The expansion, known as DIFC Zabeel District, will add around 17.7 million square feet to the current 110-hectare financial hub. Development will be carried out in six phases, with full completion targeted by 2040. The move reflects the rapid growth of DIFC over the
India and the European Union have formally inked a landmark trade agreement, described as the “mother of all trade deals,” Prime Minister Narendra Modi announced at the inauguration of India Energy Week in Goa. Addressing the gathering, Mr. Modi said the agreement would open up wide ranging opportunities for the nearly 1.4 billion people of India and the European Union. He noted that the scale of the pact underlines its global significance, as it represents nearly 25% of global GDP and accounts for around one-third of global trade. “Along with trade, the agreement also reflects ou
India’s imports of metallurgical coal, a critical input for blast furnace-based steel production, rose 9.4 per cent year-on-year in calendar year 2025 to over 83.1 million tonnes, up from around 76 mnt in 2024, according to data from BigMint. The increase was driven by a surge in domestic steel production, with India emerging as the only major economy to record strong growth in steel output in 2025 amid a broader global slowdown. Imports account for nearly 95 per cent of India’s metallurgical coal requirement, underlining the country’s continued dependence on overseas supplies. Co
India is set to retain its position as the world’s fastest-growing major economy over the next two years, even as global growth moderates and several large economies struggle to regain momentum, according to the International Monetary Fund’s latest World Economic Outlook Update released in January 2026. The IMF estimates India’s economy will grow by 7.3 per cent in 2025, followed by 6.4 per cent in both 2026 and 2027, significantly outperforming global averages. In comparison, the global economy is projected to expand at 3.3 per cent in 2025 and 2026, easing slightly to 3.2 per cent