Prime Minister Narendra Modi has said that the Union Budget 2026-27 presents an ambitious roadmap to accelerate the Make in India and Aatmanirbhar Bharat initiatives, giving fresh momentum to India’s reform journey. In a video message, Mr Modi said the budget would inject new energy into the “reform express” and transform current aspirations into tangible outcomes. He described the budget as a unique one, focused on reducing the fiscal deficit and controlling inflation, while simultaneously maintaining high capital expenditure to sustain economic growth. The Prime Minister highlig
Saudi Arabia has revised its estimate of economic growth for 2025 upwards, signalling stronger than expected performance despite softer oil prices. In a flash reading released on Sunday, February 1st, 2026, the General Authority for Statistics said the Kingdom’s economy expanded by 4.5 per cent last year, exceeding the International Monetary Fund’s earlier forecast of 4.3 per cent. The revised figure is also slightly higher than the government’s own projection of 4.4 per cent outlined in its preliminary 2026 budget statement released in December. Growth was led by oil activities,
The GCC and wider Middle East region is poised to attract the next wave of investments in AI and technology-driven sectors, supported by business-friendly and innovation-led government policies, industry leaders said at the 9th edition of the Sharjah Entrepreneurial Festival 2026 During a panel discussion on the opening day titled “What Does the Next Year of Venture Capital Look Like?”, speakers highlighted the region’s growing appeal for global investors and startups alike. The session was moderated by Jamie Lane, Co-founder of Fwdstart, at the Founders Stage in the Startup Town zon
The World Bank Group on Friday announced a new partnership with the Government of India to support large-scale job creation across urban and rural areas, committing annual financing of $8–10 billion over the next five years. This marks a significant increase from the previous country framework, which allocated $6–7 billion per year between FY18 and December 2025. The new plan, effective from the start of 2026, focuses on sectors with high employment potential, including infrastructure and energy, agribusiness, healthcare, tourism, and value-added manufacturing. According to the World B
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