Category: Business

New Delhi, March 19: The government has approved a ₹472 crore project for construction of a Road Over Bridge (ROB) and associated infrastructure at Tuna-Tekra to strengthen port connectivity and improve cargo evacuation, the Ministry of Ports, Shipping and Waterways said.

Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal approved the project, which includes viaduct structures, a bridge over a creek, and provisions for maintenance over a 10-year period.

The ROB is expected to serve as a key connectivity link for the upcoming mega container terminal and multipurpose cargo berth at Tuna-Tekra. The container terminal is planned with a capacity of 2.19 million TEUs, while the cargo berth will handle up to 18.33 million metric tonnes per annum.

Officials said the project will help reduce logistics turnaround time, ease congestion, and improve overall supply chain efficiency in the region.

The execution of the ROB will be aligned with the commissioning of the Tuna-Tekra container terminal, which is currently about 45% complete. This is aimed at ensuring that supporting infrastructure is ready alongside port operations.

The project is expected to ease rail-road congestion and facilitate smoother movement of heavy cargo traffic to and from the port, strengthening last-mile connectivity.

The development is part of the government’s broader maritime strategy under Maritime India Vision 2030 and Maritime Amrit Kaal Vision 2047, aimed at enhancing port-led development and positioning India as a global maritime hub.

New Delhi, March 19: The Centre has released over ₹24,600 lakh under the Rashtriya Gokul Mission (RGM) to Andhra Pradesh between 2014–15 and 2025–26 to support indigenous cattle development, the Lok Sabha was informed.

In a written reply, Fisheries, Animal Husbandry and Dairying Minister Rajiv Ranjan Singh said the funds have been largely utilised by the state over the years, with utilisation matching releases in most financial years.

According to official data, major allocations were made in recent years, including ₹5,652.38 lakh in 2021–22, ₹3,538.38 lakh in 2023–24, and ₹3,184.16 lakh in 2024–25. An amount of ₹1,500 lakh has been released in 2025–26 so far, with utilisation yet to be reported.

 

Gokul Grams Established

The minister said 16 Gokul Grams were established in the state under the scheme. However, the component has been discontinued under the revised and realigned Rashtriya Gokul Mission for the period 2021–22 to 2025–26.

Rise in Indigenous Cattle Population

The government said the scheme has contributed to a significant increase in indigenous bovine breeds. At the national level, the population of indigenous cattle rose by nearly 30% between 2013 and 2022.

In Andhra Pradesh, the increase was higher at 62.11% during the same period, reflecting the impact of both central and state-level interventions.

Focus on Breed Improvement

The Rashtriya Gokul Mission aims to conserve and develop indigenous bovine breeds, improve milk productivity, and enhance farmers’ income through scientific breeding and better livestock management practices.

The government said coordinated efforts under the mission have supported breed improvement and strengthened the livestock sector in the state.

A decade after its launch, the Digital India programme is no longer just a government initiative. It has evolved into the backbone of India’s economic and service delivery architecture, quietly reshaping everything from banking and payments to welfare distribution and digital commerce.

The scale of transformation is striking. Broadband subscribers have grown from 25 crore in 2014–15 to over 103 crore in 2024–25, a fourfold increase that signals not just connectivity expansion, but the creation of a massive digital consumer base.

 

This growth has been supported by a rapid expansion of telecom infrastructure. Mobile base stations have nearly quadrupled, while optical fibre networks have expanded exponentially, laying the groundwork for high-speed data access across urban and rural India alike.

The Data Revolution: Cheap, Ubiquitous, Transformative

Perhaps the most consequential shift has been in data consumption. Average monthly usage per user has surged from just 61 MB to over 25 GB. At the same time, the cost of data has dropped by nearly 97 percent.

This combination of affordability and availability has unlocked new markets. From short video platforms and e-commerce to edtech and telemedicine, entire digital industries have scaled on the back of cheap data.

For businesses, this means access to one of the world’s largest and fastest-growing internet user bases, with consumption patterns increasingly mirroring mature digital economies.

Digital Public Infrastructure as a Growth Engine

At the heart of this transformation lies India’s digital public infrastructure stack, often referred to as DPI. Aadhaar, UPI, and the broader JAM trinity have created a foundational layer on which both government services and private innovation now operate.

With over 143 crore Aadhaar identities issued, India has achieved near-universal digital identity coverage. This has enabled seamless onboarding for financial services, telecom, and government schemes.

UPI, in particular, has emerged as a global benchmark. With over 46 crore users and participation from 685 banks, it now powers the majority of India’s digital payments and accounts for a significant share of global real-time transactions.

For businesses, UPI has dramatically reduced transaction friction, enabling everything from street vendors to large enterprises to operate in a cash-light ecosystem.

Direct Transfers and Fiscal Efficiency

The JAM trinity has also transformed welfare delivery. Direct benefit transfers worth nearly ₹50 lakh crore have been routed directly to beneficiaries, reducing leakages and improving targeting.

This shift has implications beyond governance. It increases disposable income certainty at the household level, which in turn supports consumption, especially in rural markets.

Platforms That Scale with the Economy

Government-backed platforms such as DigiLocker and UMANG are quietly becoming part of everyday digital infrastructure.

DigiLocker, with 67 crore users and nearly 1,000 crore documents issued, is reducing paperwork and enabling faster verification processes across sectors like banking, education, and transport.

UMANG, offering more than 2,400 services, reflects a broader trend toward platformisation of public services, where citizens interact with the state through a single digital interface.

For private players, these platforms create opportunities for integration, partnerships, and service delivery innovations.

Bridging the Last Mile

One of the more understated achievements of Digital India has been its focus on inclusion. Village-level connectivity has reached near-universal levels, while digital literacy programmes like PMGDISHA have trained over 6.39 crore individuals.

This expansion is critical for unlocking demand in rural India, which remains the next frontier for digital growth.

What It Means for Business

Digital India has effectively created a large, connected, and increasingly data-savvy market. For companies, this translates into:

• Lower customer acquisition and onboarding costs

• Faster digital payments and reduced transaction friction

• Access to verified digital identities

• Expansion into rural and semi-urban markets

Sectors such as fintech, e-commerce, logistics, health tech, and edtech are already leveraging this ecosystem.

The Road Ahead

The next phase of Digital India will likely focus on deepening usage rather than just expanding access. This includes improving service quality, enhancing cybersecurity, and integrating emerging technologies like AI into public platforms.

As India moves toward a $5 trillion economy, its digital backbone will play a central role in driving productivity, formalisation, and innovation.

Bottom Line

Digital India has moved beyond infrastructure to become an economic multiplier. By combining connectivity, affordability, and scalable platforms, it has created a digital ecosystem that is not only inclusive but also commercially transformative.

For businesses, the message is clear: India’s growth story is increasingly a digital story.

New Delhi, March 19: Cooperative banking institutions in Odisha remain financially stable, with no banks under liquidation and a marginal decline in non-performing assets (NPAs), the government informed the Rajya Sabha.

In a written reply, Union Minister for Home and Cooperation Amit Shah said the state has 9 Urban Cooperative Banks, 18 Rural Cooperative Banks — including one State Cooperative Bank and 17 District Central Cooperative Banks (DCCBs) — and 4,287 Primary Agricultural Credit Societies (PACS).

According to data shared by the Reserve Bank of India (RBI) and NABARD, none of the cooperative banks in Odisha are under liquidation. However, around 725 cooperative societies are currently under liquidation, with outstanding dues of ₹11.08 crore to banks.

The minister said annual audits of these societies are conducted by the Directorate of Cooperative Audit, Odisha.

The asset quality of cooperative banks in the state has shown improvement. The Gross NPA ratio of the Odisha State Cooperative Bank (OSCB) declined from 1.08% as of March 2024 to 0.87% as of March 2025.

Similarly, the cumulative Gross NPA ratio of all 17 DCCBs reduced from 7.33% to 7.18% during the same period.

As of March 2025, seven DCCBs reported NPAs below 5%, eight were in the 5–10% range, and two had NPAs between 10% and 15%.

The financial position of cooperative banks is regularly reviewed by the state government, RBI, and NABARD. NABARD also conducts statutory inspections of the Odisha State Cooperative Bank and DCCBs.

The government said several measures have been implemented to improve governance and financial stability. These include allowing cooperative banks to expand branch networks, offer doorstep banking services, and enhance lending capacity.

Other reforms include higher loan limits, one-time settlement schemes, integration with the RBI’s Integrated Ombudsman Scheme, onboarding on Aadhaar-enabled payment systems (AePS), and inclusion under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).

The Odisha government has also extended financial support to strengthen cooperative banks by contributing to their share capital. Assistance to DCCBs stood at ₹102 crore in 2022–23, ₹73 crore in 2023–24, and ₹28.02 crore in 2024–25.

The government said ongoing regulatory reforms, technological integration, and capital support are aimed at improving governance, reducing financial risks, and strengthening the cooperative banking sector in the state.

The Cabinet Committee on Economic Affairs has approved ₹1,718.56 crore in Minimum Support Price (MSP) funding to the Cotton Corporation of India (CCI) for the 2023–24 cotton season, reinforcing price support mechanisms for cotton farmers.

The funding is aimed at enabling CCI to undertake large-scale procurement when market prices fall below MSP, ensuring farmers receive assured returns and are protected from price volatility.

 

Stabilising Prices, Supporting Farm Incomes

MSP operations play a critical role in preventing distress sales during periods of weak market demand. By stepping in as a buyer of last resort, CCI helps stabilise cotton prices, which has broader implications for both farmers and downstream industries.

India’s cotton economy is substantial, with around 60 lakh farmers dependent on the crop and an estimated 4–5 crore people engaged across the value chain, including ginning, trading, and textiles.

For the 2023–24 season, cotton cultivation covered about 114.47 lakh hectares, with production estimated at 325.22 lakh bales, making India one of the largest global producers with roughly a quarter of total output.

Implications for Textile Industry

Stable cotton prices are crucial for India’s textile sector, which relies heavily on domestic raw material supply. MSP-backed procurement can help ensure consistent availability of cotton, reducing supply-side uncertainties for manufacturers.

However, large-scale procurement can also influence market dynamics by tightening open market supply in the short term, potentially impacting prices for mills depending on the scale and timing of CCI interventions.

Expanding Procurement Network

CCI has strengthened its procurement infrastructure, operating over 508 centres across 152 districts in 11 major cotton-growing states. This wide network improves farmer access to MSP operations, particularly in key producing regions.

The agency continues to procure Fair Average Quality (FAQ) cotton without any quantity cap, ensuring that farmers can sell their produce at MSP whenever market prices fall below the threshold.

Technology Push in Procurement

The corporation has also introduced digital tools to improve transparency and efficiency. Initiatives such as the Bale Identification and Traceability System (BITS) and the “Cott-Ally” mobile app aim to streamline procurement processes and improve communication with farmers.

These measures could help reduce delays, improve traceability, and enhance trust in MSP operations.

Fiscal and Policy Perspective

The MSP funding reflects the government’s continued reliance on price support mechanisms to stabilise farm incomes. While such interventions provide immediate relief to farmers, they also carry fiscal implications and can influence market behaviour over time.

Outlook

The approval comes at a time when global cotton markets remain sensitive to demand fluctuations and supply disruptions. A strong MSP-backed procurement framework could help shield Indian farmers from global volatility while ensuring raw material stability for the domestic textile industry.

The effectiveness of the intervention will depend on procurement efficiency, market conditions, and how well supply is balanced between government stocks and industry demand.

In a move aimed at strengthening regional connectivity and cross-border trade, the Cabinet Committee on Economic Affairs has approved the construction of a four-lane access-controlled National Highway-927 from Barabanki to Bahraich in Uttar Pradesh. The 101.5 km project will be developed at a cost of ₹6,969.04 crore under the Hybrid Annuity Mode (HAM).

The project is expected to significantly improve logistics efficiency in eastern Uttar Pradesh while enhancing trade linkages with Nepal through the Rupaidiha Land Port near the Nepalganj border.

Logistics and Trade Gains

The upgraded highway is designed to reduce travel time between Barabanki and Bahraich to nearly one hour, improving freight movement and lowering transportation costs. By easing congestion and improving road geometry, the corridor is likely to enhance fuel efficiency and reduce vehicle operating expenses for logistics operators.

The project will connect multiple economic, social, and logistics nodes, including 12 logistics hubs, strengthening supply chain networks in the region. Improved connectivity to airports and trade gateways is expected to further support cargo movement.

Boost to Cross-Border Commerce

With improved access to the Rupaidiha Land Port, the highway is poised to play a key role in facilitating India–Nepal trade. Faster transit times and better infrastructure could increase the volume of goods moving across the border, particularly agricultural produce and small-scale industrial goods.

Industry observers note that better road connectivity in border areas can help reduce delays and inefficiencies that often impact cross-border trade.

Investment and Regional Growth

The project is expected to unlock economic potential in districts such as Bahraich and Shravasti by improving access to markets and attracting new investments. Enhanced connectivity could also support sectors like agriculture, tourism, and small-scale manufacturing.

Under the HAM model, private players will participate in project execution, ensuring a mix of public funding and private sector efficiency. The model has become a key instrument in India’s highway development strategy, helping to accelerate infrastructure creation while managing fiscal risks.

Construction and Employment Impact

Beyond long-term gains, the project is expected to generate employment during the construction phase and create opportunities in ancillary sectors such as logistics, roadside services, and maintenance.

Outlook

The Barabanki–Bahraich highway project aligns with the government’s broader focus on improving logistics infrastructure under the PM GatiShakti initiative. By integrating road networks with economic and trade nodes, the project aims to enhance overall supply chain efficiency.

If executed on schedule, the corridor could emerge as a key logistics link in northern India, supporting both domestic commerce and cross-border trade flows.

The Union Cabinet’s approval of the ₹33,660 crore Bharat Audyogik Vikas Yojna (BHAVYA) marks a significant shift in India’s industrial policy, from land allocation and incentives to fully serviced, plug-and-play manufacturing ecosystems.

At its core, BHAVYA attempts to solve a long-standing problem in India’s industrial landscape: delays between investment intent and actual production. By offering pre-cleared land, ready infrastructure, and integrated services, the scheme aims to compress this timeline dramatically.

Moving Beyond Industrial Corridors

The scheme builds on the National Industrial Corridor Development Programme (NICDP), which focused on large, strategically located industrial regions. However, BHAVYA expands this model in two important ways.

First, it decentralizes industrial development by spreading 100 parks across states and Union Territories. Second, it introduces a more execution-focused approach, where readiness of infrastructure becomes the key selling point rather than just location or policy incentives.

This suggests a policy evolution from macro-planning to micro-level execution.

Plug-and-Play: Solving India’s Entry Barrier Problem

One of the biggest deterrents for investors in India has been procedural complexity and infrastructure gaps. Even after approvals, companies often face delays due to land issues, utilities, or logistics bottlenecks.

BHAVYA directly targets this friction. By ensuring that land is pre-approved and infrastructure is in place, the government is effectively lowering the cost and uncertainty of entry.

If implemented well, this could particularly benefit MSMEs and global manufacturers looking to diversify supply chains away from single-country dependencies.

Competitive Federalism in Action

The “challenge mode” selection of projects introduces a competitive dynamic among states. Only those offering reform-oriented, investment-ready proposals will qualify for central support.

This approach aligns with a broader trend of competitive federalism, where states compete on ease of doing business, infrastructure readiness, and policy stability. It also shifts responsibility to states to deliver reforms rather than rely solely on central funding.

Infrastructure Depth, Not Just Scale

The scheme’s design indicates a move toward deeper infrastructure development rather than just expanding industrial land.

Support for core, value-added, and social infrastructure reflects a recognition that industrial ecosystems require more than factories. Worker housing, logistics facilities, testing labs, and digital systems are critical for sustained productivity.

The inclusion of underground utility corridors and green energy systems also signals a push toward more efficient and sustainable industrial zones, potentially reducing long-term operational disruptions.

Economic Multiplier and Job Creation

With parks ranging from 100 to 1,000 acres, BHAVYA is expected to generate significant employment across manufacturing, logistics, and services. The clustering of industries could also strengthen domestic supply chains and reduce dependence on imports.

However, the real multiplier effect will depend on how quickly these parks attract anchor investors. Without early movers, infrastructure risks remaining underutilized, as seen in some past industrial projects.

The Execution Challenge

While the design of BHAVYA is ambitious, its success will hinge on execution at the state and local levels.

Key challenges include:

• Timely land acquisition and clearances

• Coordination between multiple agencies

• Ensuring last-mile connectivity

• Maintaining investor confidence through policy stability

Past experience with industrial parks in India shows that delays and uneven implementation can dilute impact.

Strategic Timing

The scheme comes at a time when global supply chains are being reconfigured, and countries are competing to attract manufacturing investments. India’s push for plug-and-play infrastructure aligns with this global shift.

If executed effectively, BHAVYA could position India as a more predictable and efficient manufacturing destination, complementing initiatives like Production Linked Incentive (PLI) schemes.

Bottom Line

BHAVYA represents a structural shift in India’s industrial strategy, from policy-driven incentives to infrastructure-led competitiveness. It acknowledges that investors value speed, certainty, and ecosystem readiness as much as financial support.

The intent is clear. The outcome will depend on whether India can deliver industrial parks that are not just announced, but fully operational when investors arrive.

The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the Small Hydro Power (SHP) Development Scheme for the period 2026–27 to 2030–31. The scheme has a total outlay of ₹2,584.60 crore and aims to install small hydro power projects with a combined capacity of around 1,500 MW.

The initiative focuses on promoting small hydro projects with capacities between 1 MW and 25 MW across the country. It is expected to significantly benefit hilly regions and North Eastern states, where there is high potential for such projects.

Under the scheme, enhanced financial support will be provided to projects in North Eastern states and districts along international borders. These areas will receive central assistance of up to ₹3.6 crore per MW or 30 percent of the project cost, whichever is lower, subject to a maximum of ₹30 crore per project. In other states, assistance will be up to ₹2.4 crore per MW or 20 percent of the project cost, capped at ₹20 crore per project.

 

Out of the total allocation, ₹2,532 crore has been earmarked for project development. The scheme is expected to attract investments of around ₹15,000 crore in the sector, boosting clean energy capacity and driving development in remote and rural regions. It will also support domestic manufacturing, with 100 percent of plant and machinery expected to be sourced within the country, aligning with the Atmanirbhar Bharat initiative.

Additionally, ₹30 crore has been allocated to support state and central agencies in preparing detailed project reports (DPRs) for approximately 200 future projects. This is aimed at creating a strong pipeline for continued growth in the small hydro sector.

The scheme is projected to generate about 51 lakh person-days of employment during the construction phase, along with long-term jobs in operation and maintenance. Since these projects are decentralized, they require minimal transmission infrastructure, reducing energy losses.

Officials said the initiative will help revive the small hydro power sector and accelerate the use of untapped potential. SHP projects are considered environmentally sustainable as they involve limited land use, minimal deforestation, and low displacement of communities. With a typical lifespan of 40 to over 60 years, these projects are also expected to contribute to long-term socio-economic development in remote areas.

Nottingham, UK,  March 19 – IsomAb Ltd, a UK-based biotechnology company, today announced the appointment of Dr Philip Brainin as Chief Executive Officer (CEO) and member of the Board of Directors. IsomAb is developing transformative isoform‑specific antibody therapeutics for atherosclerotic disease. Dr Brainin is tasked with taking lead candidate ISM-001 for chronic stable angina (CSA) into clinical development. ISM-001’s strong preclinical data showing complete restoration of blood flow in severe ischemic disease models supports the company’s stated goal of delivering a disease-modifying treatment for CSA, a condition affecting 9 million patients in the US alone.

Dr Philip Brainin is physician-scientist with extensive training in clinical cardiology, and brings a unique combination of cardiovascular medicine, clinical research, and venture investing experience across EU and US biotechnology companies. He has invested in multiple early-stage therapeutics companies, advised Boards of Directors including for AnaCardio and NephroDI, and has shaped corporate and business development strategies for portfolio companies to enable financing, partnerships, and exits. 

“With my background in cardiology, I see every day how limited our options are for patients with ischaemic disease,” explains Dr Brainin. “What excites me about IsomAb is that ISM-001 is not just another VEGF therapy. The pioneering mechanistic and pharmacological data generated by the team shows that IsomAb’s unique approach targeting VEGF-A₁₆₅b removes the brakes on angiogenesis that are applied in ischemic disease, allowing blood vessels to grow, remodel and create durable new arteries. Once proof of concept is demonstrated in the clinic, I envisage a clear pathway for regulatory, manufacturing and commercial success.”

Dr Anker Lundemose has been appointed Chair of the Board of Directors of IsomAb, replacing Paul Edwards, who remains as a non-executive Director on the Board. A physician-scientist and seasoned biotech leader at companies such as OSI Pharmaceuticals, Prosidion and Mission Therapeutics, Dr Lundemose has a strong track record in creating successful investor exits through multiple M&As and IPOs.

“With strong preclinical results, a clear translational plan through clinical proof of concept, and Philip’s appointment as CEO, I believe IsomAb offers a major Series A investment opportunity and look forward to working with him to accelerate ISM‑001’s development into a much-needed breakthrough therapy for cardiovascular disease,” adds Dr Lundemose.