Economy

News on Indian Economy

India Clears ₹30 Billion Swap Withdrawal for Maldives Under SAARC Framework

The latest drawdown comes after the Maldives settled an earlier US$400 million swap facility that it had availed in October 2024 under the US Dollar/Euro Swap Window of the bilateral arrangement between the RBI and the Maldives Monetary Authority. The Maldives Foreign Ministry said the repayment reflected the government’s commitment to meeting its financial obligations.

India Becomes Sri Lanka’s Fastest-Growing Major Export Market in Q1 2026

Sri Lanka’s overall export earnings for the January–March 2026 period stood at US$4.30 billion, registering a 1.59% year-on-year increase. Merchandise exports during the quarter reached US$3.38 billion, while services exports were estimated at US$921.11 million, supported by sectors such as ICT/BPM, construction, financial services, transport and logistics.

India and Japan Hold First AI Strategic Dialogue in Mumbai to Deepen Technology Cooperation

The meeting was co-chaired by Amit A. Shukla, Joint Secretary for Cyber Diplomacy in India’s Ministry of External Affairs, and Hanada Takahiro, Deputy Assistant Minister for Cyber Security in Japan’s Ministry of Foreign Affairs. Officials from ministries, departments and agencies of both governments participated, along with representatives from the AI industry, giving the dialogue both a policy and industry-driven character.

Government Unveils ₹203-Crore TDIP Scheme to Push 6G and Homegrown Telecom Innovation

The scheme is designed to support Indian participation in key international telecom forums such as the International Telecommunication Union, 3GPP and oneM2M, giving domestic stakeholders financial assistance for attending global meetings, submitting technical contributions, taking up leadership roles in study groups and hosting international standardisation events in India.

India Pushes ‘Insurance for All’ Agenda with Wider Coverage, Lower Costs and Major Reforms

The official note said India is now the world’s 10th largest insurance market by premium volume. During FY 2024-25, the sector issued 41.84 crore policies, collected premiums worth ₹11.93 lakh crore, paid claims of ₹8.36 lakh crore and reported assets under management of ₹74.44 lakh crore. Insurance penetration stood at 3.7%, while insurance density rose to USD 97 per person.