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  • India’s MSME Sector Contributes Over 31% to GDP, Generates 38.9 Crore Jobs

    New Delhi, June 26: India’s Micro, Small and Medium Enterprises (MSME) sector continues to play a key role in the country’s economic growth, with its contribution to the national GDP crossing 31% and employment rising to 38.9 crore, according to recent official estimates.

    The sector remains one of the largest employment generators in the country, supporting livelihoods across manufacturing, services, and trade segments. Officials noted that MSMEs are also a crucial driver of exports and industrial output.

    The growth has been supported by various government initiatives aimed at improving access to credit, promoting digital adoption, and enhancing ease of doing business for small enterprises.

    Experts said the steady expansion of the MSME sector reflects its resilience and its central role in strengthening India’s self-reliant economic framework. The sector continues to support inclusive growth by generating employment opportunities across urban and rural areas.

    The latest figures underline the MSME sector’s importance as a backbone of the Indian economy, contributing significantly to GDP while also absorbing a large share of the workforce.

  • IMD Forecasts Low Pressure Over Bay of Bengal in Early July; Monsoon Activity Set to Intensify

    Bhubaneswar, June 26 (UDN): The India Meteorological Department (IMD) has projected the formation of a low pressure area over the North Bay of Bengal during the first week of July, a development that could significantly strengthen monsoon activity across eastern and central India, including Odisha.

    IMD Forecasts Low Pressure Over Bay of Bengal in Early July; Monsoon Activity Set to Intensify

     Representational Image

    According to IMD’s latest extended range outlook, a cyclonic circulation is likely to form over the northwest Bay of Bengal, off the Odisha coast, around July 2. Under its influence, a low pressure area may develop over the North Bay of Bengal between July 3 and 4.

    Weather experts said the system is expected to move in a west-northwestward direction and may intensify further during the second week of July, thereby enhancing the southwest monsoon flow over large parts of the country.

    Several leading numerical weather prediction models, including IMD-GFS, NCEP-GFS, NCMRWF Mithuna, ECMWF, as well as artificial intelligence-based forecasting models such as Pangu Weather and GraphCast, have indicated the possibility of such a weather system taking shape over the Bay of Bengal.

    However, the IMD has clarified that no immediate cyclogenesis is expected during the next two weeks. Ensemble forecast models indicate only a low probability—between 20 and 30 per cent—of the system intensifying into a depression. Current model consensus points towards the formation of a low pressure area rather than a stronger cyclonic system.

    Meteorologists noted that while uncertainties remain regarding the exact track and intensity of the system, its formation is likely to trigger enhanced rainfall activity over Odisha and several parts of eastern and central India.

    The IMD is closely monitoring the evolving weather conditions and has advised stakeholders, particularly farmers and fishermen, to remain updated with official weather bulletins and advisories.

  • India Hosts First-Ever Mango Promotion Event in Iceland to Boost Exports

    June 26: India has organised its first-ever mango promotion events in Iceland as part of efforts to expand the global reach of Indian agricultural exports and promote premium fruit varieties in new international markets.

    India Hosts First-Ever Mango Promotion Event in Iceland to Boost Exports

    The initiative aimed to showcase India’s diverse range of mango varieties to importers, distributors, and consumers in Iceland, highlighting the fruit’s quality, flavour profile, and export potential.

    Officials said the event is part of a broader strategy to strengthen India’s agri-export footprint in non-traditional markets and create new trade opportunities for Indian farmers and exporters. The promotion also focused on building awareness about India’s horticultural strengths and improving market access for premium produce.

    Participants at the event were introduced to several popular Indian mango varieties, along with discussions on export logistics, quality standards, and potential trade partnerships.

    The initiative reflects India’s growing efforts to diversify its export destinations and enhance the global visibility of its agricultural products, particularly in high-value international markets.

  • Kolkata Warehouse Roof Collapse: Death Toll Rises to 15, Probe Intensifies

    Kolkata, June 26: The death toll in the Kolkata warehouse roof collapse incident has risen to 15 after a 19-year-old worker succumbed to injuries while undergoing treatment at a hospital, officials said.

    The victim was among those critically injured in the collapse and had been under intensive medical care since the incident. Several other injured workers are still undergoing treatment at various hospitals.

    The incident took place after the roof of a warehouse suddenly collapsed, trapping workers inside and triggering large-scale rescue operations. Fire and emergency services, along with disaster response teams, were deployed immediately to pull out those trapped under debris.

    Preliminary information suggests that structural weakness and possible safety lapses may have contributed to the collapse, though an official investigation is underway to determine the exact cause. Authorities have begun examining compliance with building safety norms and workplace regulations at the site.

    Officials said a detailed probe has been launched, and statements from survivors, supervisors, and site managers are being recorded as part of the investigation.

    The tragedy has renewed concerns over industrial safety standards and enforcement in workplace facilities, with calls for stricter monitoring to prevent similar incidents in the future.

  • India Go Down to England in Shootout in FIH Pro League Match

    London, June 26: The Indian men’s hockey team suffered a narrow defeat to England in a penalty shootout during their FIH Pro League encounter, after both sides were locked at the end of regulation time in a closely fought match.

    The game was marked by high intensity and disciplined defensive structures from both teams, with limited clear scoring opportunities through the four quarters. India matched England’s pace and physicality for most of the contest, holding firm in defence while attempting to build structured attacking moves.

    Despite creating chances in key phases of the match, the Indian side was unable to convert opportunities into goals, with the England defence and goalkeeper standing strong to keep the scoreline level at full time.

    With the match tied after regulation time, the outcome was decided through a shootout, where England held their composure to edge past India and secure the victory.

    India, meanwhile, were left to reflect on missed chances during regulation play and the fine margins that ultimately determined the result. However, the performance also highlighted several positives, including defensive solidity and sustained pressure in midfield during stretches of the game.

    The result adds another closely contested fixture to India’s FIH Pro League campaign, with the team expected to regroup and focus on converting chances more effectively in upcoming matches.

  • Australia Reach FIFA World Cup Knockouts After 0–0 Draw with Paraguay

    Sydney, June 26: Australia secured a place in the knockout stage of the FIFA World Cup after holding Paraguay to a 0–0 draw in a tightly contested group-stage match.

    Despite several attempts from both sides, neither team was able to break the deadlock, with strong defensive displays and disciplined goalkeeping keeping the scoreline unchanged throughout the match.

    The result proved sufficient for Australia to advance to the next round, as they accumulated the necessary points from their group-stage campaign.

    Paraguay, meanwhile, saw their campaign come to an end after failing to secure a win in the decisive fixture.

    The match highlighted Australia’s resilience and tactical discipline, particularly in defence, as they managed to withstand sustained pressure during key phases of the game.

    With this result, Australia move forward to the knockout stage, keeping their World Cup campaign alive.

  • India’s Grocery Market Set to Reach Dollar 992 Billion by FY30: Report

    New Delhi, June 26: India’s grocery market is projected to grow to nearly $992 billion by financial year 2030, according to a recent industry report, reflecting strong growth prospects in the country’s fast-expanding retail sector.

    The report highlights that the growth will be driven by rising household consumption, increasing urbanisation, and a shift in consumer preferences towards organised retail and digital grocery platforms.

    It notes that the sector continues to be dominated by traditional retail channels, but organised retail and quick-commerce platforms are rapidly gaining market share, supported by improved logistics, digital payments, and wider internet penetration.

    Industry experts said that changing lifestyles, growing disposable incomes, and expansion of e-commerce are expected to further accelerate the transformation of India’s grocery market over the next few years.

    The report also pointed out that India remains one of the fastest-growing consumer markets globally, with the grocery segment forming a significant share of overall retail consumption.

    The projected growth underscores the long-term potential of the sector and the increasing role of technology-driven retail models in shaping consumer buying behaviour.

  • India Emerges 4th in Hurun Unicorn Index

    New Delhi, June 26: India has ranked fourth globally with 61 unicorn companies, according to the latest Hurun Global Unicorn Index, underlining the country’s expanding footprint in the global startup ecosystem.

    The report highlights India’s growing stature as a major hub for innovation and entrepreneurship, supported by rapid growth across key sectors such as fintech, e-commerce, software services, and consumer technology.

    The United States and China continue to occupy the top two positions in the global rankings. India’s strong performance reflects the sustained expansion of its digital economy, rising domestic demand, and increasing participation from domestic and global investors in high-growth startups.

    Industry experts attribute the rise in unicorn companies to improved access to venture capital, supportive policy initiatives, and accelerated digital adoption across industries. These factors have collectively strengthened India’s startup ecosystem and enabled several firms to scale rapidly.

    The Hurun report also notes that India’s startup landscape is steadily maturing, with new-age companies contributing significantly to innovation, employment generation, and overall economic growth.

    India’s fourth-place ranking reinforces its position as one of the fastest-growing innovation-driven economies in the world, with expectations of further growth in the number of unicorns in the coming years.

  • Strait of Hormuz Shipping Traffic Recovers to 57 pc of Pre-Conflict Levels: Report

    June 26: Vessel traffic through the Strait of Hormuz has recovered to approximately 57% of pre-conflict levels, indicating a gradual stabilisation in one of the world’s most critical maritime and energy transit routes, according to a recent shipping and trade monitoring report.

    The Strait of Hormuz, which connects the Persian Gulf with the Gulf of Oman and the Arabian Sea, is a vital chokepoint for global energy flows, particularly crude oil and liquefied natural gas shipments from major producing countries in the Middle East to international markets. Any disruption in this narrow waterway typically has a significant impact on global energy supply chains and price stability.

    The report highlighted that shipping activity in the region has improved steadily following earlier disruptions linked to geopolitical tensions. However, overall traffic remains below normal levels as shipping companies continue to adopt cautious routing strategies amid lingering security concerns.

    Industry analysts noted that while the rebound in vessel movement reflects improving operational conditions, the pace of recovery remains uneven. Many shipping operators and insurers continue to factor in elevated risk premiums, which is affecting voyage planning and limiting a full return to pre-conflict shipping volumes.

    The Strait of Hormuz remains under close observation by global energy markets, insurers, and maritime authorities due to its strategic importance and its role in facilitating a significant share of the world’s seaborne energy trade. Analysts say sustained stability in the region will be crucial for a complete recovery in shipping traffic in the coming months.

  • India Reviews Residual Shelf-Life Norms for Imported Pharmaceuticals

    New Delhi, June 26: The government has invited comments and suggestions from stakeholders on the proposed framework concerning residual shelf-life requirements for imported pharmaceutical products, as part of ongoing efforts to strengthen regulatory clarity and ensure the availability of quality medicines in the country.

    The consultation exercise aims to review and rationalise existing provisions governing the minimum residual shelf-life required for drugs at the time of import clearance. The objective is to ensure a balanced approach that safeguards patient safety while also improving ease of doing business for the pharmaceutical sector.

    Officials said the proposed review seeks to align regulatory requirements with current global practices and supply chain realities, particularly in cases where medicines are imported to meet urgent clinical or public health needs. The initiative is also expected to reduce procedural bottlenecks and improve the efficiency of drug availability in the domestic market.

    Stakeholders, including pharmaceutical manufacturers, importers, industry associations, healthcare professionals, and other concerned parties, have been requested to submit their comments and feedback within the stipulated timeframe.

    The government will examine all suggestions received during the consultation process before finalising the revised guidelines on residual shelf-life requirements for imported drugs. The updated framework is expected to enhance regulatory transparency while ensuring uninterrupted access to essential medicines.