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Category: Policy & Economic Developments

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India Secures Second Spot in Asia Pacific Data Centre Market Amid Digital Growth

India has emerged as the second-largest data centre market in the Asia-Pacific region, highlighting its growing role in the global digital economy and increasing appeal for technology investments. According to a report by Cushman & Wakefield, rapid growth in cloud computing, artificial intelligence (AI), digital services, and data consumption has significantly expanded the country’s data centre capacity.
Major cities including Mumbai, Chennai, Hyderabad, Bengaluru, and Delhi-NCR continue to attract investments from hyperscalers, cloud providers, and enterprise customers. Supportive government policies, data localisation requirements, strong connectivity, and competitive operating costs have further strengthened India’s position as a leading data centre destination.
The sector is expected to drive job creation, boost digital capabilities, and support emerging technologies across industries such as finance, healthcare, manufacturing, and e-commerce.

Key Highlights:

  • India is now the second-largest data centre market in Asia-Pacific.
  • Growth is driven by cloud computing, AI, and digital transformation.
  • Major hubs include Mumbai, Chennai, Hyderabad, Bengaluru, and Delhi-NCR.
  • Rising investments in renewable energy, power infrastructure, and connectivity support expansion.
  • Increased demand from hyperscalers and cloud service providers is fueling capacity growth.
  • The sector is expected to create jobs and strengthen India's digital economy.
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India’s Export Performance Reaches Four-Year Peak in May

India’s exports recorded their strongest growth in four years during May, supported by robust demand for engineering goods, electronics, pharmaceuticals, and petroleum products. The strong performance signals improving global demand and increased competitiveness of Indian manufacturing sectors.
Despite the export surge, India’s trade deficit widened as imports rose sharply due to higher purchases of crude oil, gold, machinery, and electronic goods. While stronger imports indicate healthy domestic demand and industrial activity, rising import costs continue to pressure the country’s trade balance.
The government remains focused on boosting exports through Production-Linked Incentive (PLI) schemes, trade agreements, and infrastructure development aimed at strengthening India’s role in global supply chains.

Key Highlights:

  • India's exports recorded the highest growth in four years in May.
  • Engineering goods, electronics, pharmaceuticals, and petroleum products led export growth.
  • Trade deficit widened due to higher imports of crude oil, gold, and machinery.
  • Rising imports reflect stronger domestic consumption and industrial activity
  • Government initiatives continue to support export growth and manufacturing competitiveness.
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100 Industrial Parks Under BHAVYA Scheme to Receive ₹33,660 Crore Infrastructure Push

The Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry, has released the operational guidelines for the implementation of the BHAVYA Scheme, a major Central Sector initiative aimed at developing investment-ready, world-class industrial parks across India.
The BHAVYA Scheme has been launched to strengthen India’s manufacturing ecosystem through the creation of integrated industrial infrastructure aligned with flagship initiatives such as Make in India and PM Gati Shakti. The scheme is expected to play a crucial role in positioning India as a globally competitive manufacturing and investment destination.

₹33,660 Crore Allocation for 100 Industrial Parks

Under the scheme, 100 industrial parks will be developed over a six-year period from FY 2026-27 to FY 2031-32 with a total financial outlay of approximately ₹33,660 crore.
In the first phase, up to 50 industrial parks will be selected through a challenge-based competitive process. The newly released guidelines establish a comprehensive framework covering eligibility criteria, project selection, funding mechanisms, governance structures, monitoring systems, and implementation procedures.

Focus on Investment-Ready Industrial Infrastructure

The primary objective of the BHAVYA Scheme is to create investment-ready industrial ecosystems equipped with:
  • Plug-and-play industrial infrastructure
  • Multimodal logistics connectivity
  • Reliable power and utility systems
  • Worker housing and support facilities
  • Digital governance platforms
  • Sustainable and environmentally friendly infrastructure
These features are designed to attract domestic and global manufacturing investments while enhancing ease of doing business.

Greenfield and Brownfield Industrial Parks Eligible

The scheme allows for the development of both greenfield and eligible brownfield industrial parks.
Land requirements under the scheme include:
  • Minimum 100 acres for non-hilly states
  • Minimum 25 acres for hilly states, Northeastern states, Union Territories, and smaller states
  • Consideration of larger industrial parks up to 1,000 acres

Competitive Selection Based on Infrastructure and Connectivity

Project proposals will be assessed through a transparent, challenge-based evaluation framework focusing on:
  • Multimodal transport connectivity
  • Site readiness and suitability
  • Quality of industrial infrastructure
  • Industrial ecosystem strength
  • Policy facilitation measures
  • Digital governance readiness
  • Long-term sustainability standards
Infrastructure quality assessments will cover underground utilities, water and waste management systems, common effluent treatment plants, renewable energy infrastructure, worker housing, testing laboratories, skill development centers, and digital single-window platforms.

SPV-Based Development Model

Projects under the BHAVYA Scheme will be implemented through Special Purpose Vehicles (SPVs) incorporated under the Companies Act, 2013.
The SPVs will oversee:
  • Project planning and development
  • Infrastructure creation
  • Investor facilitation
  • Operations and management
  • Long-term maintenance of assets
Financial assistance will be provided in the form of equity contributions linked to land value transferred to the SPV and achievement of predefined project milestones.

NICDC Appointed as Project Management Agency

The National Industrial Corridor Development Corporation (NICDC) has been designated as the Project Management Agency (PMA) for overseeing implementation and monitoring of the scheme.
The guidelines also encourage participation from private developers through project-specific SPVs supported by clearly defined governance, transparency, and accountability mechanisms.

Technology-Driven Monitoring and Transparency

To ensure efficient implementation, the BHAVYA Scheme incorporates:
  • GIS-based monitoring systems
  • Periodic progress reporting
  • Independent audit mechanisms
  • Oversight by the National Level Steering Committee chaired by the Secretary, DPIIT
The scheme also promotes convergence with Central and State Government initiatives related to logistics, renewable energy, skilling, sustainability, utility infrastructure, and industrial development.

Key Highlights of the BHAVYA Scheme

  • ₹33,660 crore total financial outlay
  • 100 industrial parks to be developed by 2031-32
  • Up to 50 parks in the first phase
  • Support for both greenfield and brownfield projects
  • Minimum land requirement of 100 acres (25 acres for special category regions)
  • Plug-and-play industrial infrastructure
  • Multimodal logistics and transport connectivity
  • Digital governance and single-window systems
  • Worker housing and skill development facilities
  • NICDC appointed as Project Management Agency
  • GIS-based monitoring and transparency mechanisms
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Digital Economy to Drive 20% of India’s GDP by 2030, Says NCIIPC DG

India’s digital economy is projected to contribute nearly 20% to the nation’s GDP by 2030, highlighting the country’s rapid progress in digital transformation and technology-driven growth. According to NCIIPC Director General Mr. M. U. Nair, the expansion of India’s digital ecosystem is being powered by increasing internet penetration, Digital Public Infrastructure (DPI), Aadhaar, UPI, and widespread adoption of emerging technologies. These initiatives have transformed interactions among citizens, businesses, and government institutions while creating significant opportunities for innovation, entrepreneurship, digital investments, and economic development. The rise of technologies such as Artificial Intelligence (AI), cloud computing, data analytics, and the Internet of Things (IoT) is expected to accelerate digitalisation across industries and generate substantial economic value. As dependence on digital platforms continues to increase, cybersecurity and critical information infrastructure protection are becoming essential for sustainable growth and national resilience.
India’s expanding startup ecosystem, digital payments landscape, and technology investments are expected to strengthen its ambition of becoming a multi-trillion-dollar digital economy, improving productivity, competitiveness, and inclusive growth across sectors.

Key Highlights

  • Digital Economy Contribution: Expected to reach 20% of India’s GDP by 2030
  • Major Growth Drivers: Aadhaar, UPI, and Digital Public Infrastructure (DPI)
  • Emerging Technologies:Artificial Intelligence (AI), Cloud Computing, IoT, and Data Analytics
  • Cybersecurity Focus: Strengthening critical information infrastructure and digital trust
  • Growth Catalysts: Startup ecosystem, digital payments, and technology investments
  • Economic Benefits: Increased innovation, productivity, and entrepreneurship opportunities
  • Long-Term Vision: Building a multi-trillion-dollar digital economy
  • Strategic Goal: Enhancing competitiveness, digital transformation, and inclusive growth
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India Targets US$ 1 Trillion Exports by FY27 with FTAs and Manufacturing Growth Push

India is accelerating its global trade ambitions with a target of Rs. 96.30 lakh crore (US$ 1 trillion) in exports by FY27, according to Union Commerce and Industry Minister Mr. Piyush Goyal. Speaking at the launch of the Bharatiya Vyapar Mahotsav in New Delhi, the Minister emphasized that achieving the export milestone is central to the vision of Atmanirbhar Bharat and India’s long-term economic growth strategy. India recorded exports worth Rs. 75.94 lakh crore (US$ 863 billion) in FY 2025–26, registering nearly 5% growth despite global challenges such as geopolitical tensions and trade uncertainties. The government is strengthening Free Trade Agreements (FTAs) with nearly 38 developed countries to improve market access and boost Indian exports globally. The initiative also focuses on import substitution, domestic manufacturing, Swadeshi initiatives, startup participation, and improving trade infrastructure. Enhanced logistics, ease of doing business, and expanding export opportunities are expected to strengthen India’s competitiveness in global markets. Additionally, India’s services exports reached a record US$ 421.32 billion, while merchandise exports stood at US$ 441.78 billion, highlighting the country’s growing role in international trade and manufacturing.

Key Highlights

  • FY27 Export Target:US$ 1 Trillion
  • Five-Year Export Goal: US$ 2 Trillion
  • FY 2025–26 Total Exports: US$ 863 Billion
  • Export Growth: Nearly 5% year-on-year
  • FTAs Planned: Agreements with nearly 38 developed countries
  • Services Exports: US$ 421.32 Billion (record high)
  • Merchandise Exports: US$ 441.78 Billion
  • Government Focus Areas: Logistics, manufacturing, ease of doing business, and export ecosystem expansion
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Merchandise & Services Exports Hit US$ 80.80 Billion in April 2026

India’s export sector recorded strong growth in April 2026, showcasing continued momentum in international trade and global business expansion. Total exports, including merchandise and services, reached Rs. 7.49 lakh crore (US$ 80.80 billion), reflecting a 13.59% year-on-year growth compared to April 2025. Merchandise exports rose to US$ 43.56 billion, while services exports climbed to US$ 37.24 billion, highlighting strong demand for Indian products and services across global markets.
India’s total imports during April 2026 were estimated at US$ 88.61 billion, while the country’s overall trade deficit narrowed significantly to US$ 7.81 billion from US$ 11.16 billion in the previous year. Non-petroleum exports also recorded healthy growth of 9.01%, demonstrating diversification and resilience in India’s export economy.
Key sectors driving export growth included petroleum products, electronic goods, engineering goods, pharmaceuticals, meat, dairy & poultry products. Petroleum exports surged by 34.66%, while electronic goods exports recorded an impressive 40.31% growth, reflecting India’s expanding manufacturing and technology capabilities. Engineering goods exports also increased steadily by 8.76%, supported by rising international demand.
Additional sectors such as marine products, iron ore, coffee, chemicals, and handicrafts also posted positive growth, reinforcing India’s position as a leading global trade and export hub.

Key Highlights

  • Total Exports: US$ 80.80 Billion (+13.59%)
  • Merchandise Exports: US$ 43.56 Billion (+13.78%)
  • Services Exports: US$ 37.24 Billion
  • Trade Deficit Reduced: US$ 7.81 Billion
  • Electronic Goods Export Growth: +40.31%
  • Petroleum Export Growth: +34.66%
  • Engineering Goods Export Growth: +8.76%
  • Non-Petroleum Export Growth: +9.01%
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India Focuses on AI, Chip Manufacturing and Railways for Long-Term Economic Growth

India is rapidly emerging as a global technology and manufacturing powerhouse, with artificial intelligence (AI), semiconductors and railway infrastructure expected to play a major role in driving the country’s next phase of economic growth. Speaking at the CII Annual Business Summit 2026, Union Minister Ashwini Vaishnaw stated that India’s continued investments in digital technologies, electronics manufacturing and railway modernisation are strengthening the nation’s industrial competitiveness and long-term economic resilience.
The Minister highlighted that India has made significant progress in railway infrastructure over the past decade, adding nearly 36,000 kilometres of railway tracks and electrifying around 49,000 kilometres of rail lines. Railway capital expenditure also increased sharply to approximately Rs. 2.72 lakh crore (US$ 28.78 billion) in the previous financial year, reflecting the government’s strong focus on infrastructure-led development.
Mr. Vaishnaw noted that India’s emphasis on quality manufacturing, process efficiency and cost competitiveness is helping position the country as a major global manufacturing and technology hub. He further stated that AI is becoming one of the world’s most transformative technologies and can significantly improve productivity, operational efficiency and manufacturing quality across industries.
The Minister also emphasised that expanding semiconductor investments and new electronics manufacturing facilities are laying the foundation for a technologically advanced and self-reliant India. Government initiatives such as the India Semiconductor Mission and India AI Mission are accelerating growth in semiconductor production, digital infrastructure and AI innovation.

Key Highlights

  • AI, semiconductors and railways identified as major growth drivers for India
  • India added 36,000 km of railway tracks over the past decade
  • Around 49,000 km of railway lines electrified
  • Railway capital expenditure reached Rs. 2.72 lakh crore
  • Semiconductor and electronics manufacturing investments rising rapidly
  • AI expected to enhance productivity and industrial efficiency
  • Government promoting technology-led growth through India AI Mission and India Semiconductor Mission
  • Infrastructure and advanced manufacturing expected to strengthen India’s global competitiveness
Industry experts believe the combined expansion of railway infrastructure, semiconductor manufacturing and AI technologies could significantly boost employment generation, industrial growth, exports and India’s position in global value chains. The continued focus on technology-driven and infrastructure-led development reflects the government’s broader vision of building a “Viksit Bharat” and transforming India into a leading global innovation and manufacturing economy.
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India’s GDP Growth Projected at 6.6% for FY27 Amid Strong Economic Momentum

India’s economy is expected to grow by 6.6% in FY27, according to a latest report released by SBI Research in May 2026. The report highlighted that the Indian economy continues to remain resilient despite ongoing global uncertainties, geopolitical tensions and volatility in international markets.
The report estimates India’s GDP growth for FY26 at 7.5%, while real GDP growth during the fourth quarter of FY26 is expected to remain close to 7.2%, reflecting strong economic fundamentals and sustained domestic demand.

Key Highlights from SBI Research Report

  • India’s economy projected to grow by 6.6% in FY27
  • FY26 GDP growth estimated at 7.5%
  • Real GDP growth in Q4 FY26 expected near 7.2%
  • Bank credit growth accelerated to 16.1% in FY26
  • Incremental credit growth reached Rs. 29.5 lakh crore (US$ 336.5 billion)
  • Rural and urban consumption remained strong throughout FY26
  • High-frequency indicators suggest continued economic resilience

Strong Domestic Consumption Supporting Growth

According to the report, rising domestic consumption, improving rural demand and sustained credit expansion are expected to drive economic momentum in FY27.
Rural consumption remained healthy due to strong agricultural and non-farm activity, while urban demand received support from government fiscal measures, festive spending and improving consumer confidence.

Banking and Credit Growth Remain Robust

The report highlighted significant improvement in banking sector performance during FY26. Credit growth by scheduled commercial banks increased to 16.1%, compared to 11% in the previous financial year.
The second half of FY26 witnessed stronger lending activity, indicating rising investment demand and improving business sentiment across sectors.

Economic Indicators Reflect Stability

SBI Research noted that high-frequency economic indicators continue to reflect stable economic activity despite slight moderation in the final quarter of FY26.
Key sectors including manufacturing, services, infrastructure and retail consumption continued to support India’s growth trajectory amid challenging global conditions.

Challenges and Inflation Risks Ahead

Despite the positive outlook, the report cautioned that fluctuations in crude oil prices, commodity market volatility and possible El Niño weather conditions could create inflationary pressures in the near term.
The report also stressed the importance of structural reforms to:
  • Improve export competitiveness
  • Promote import substitution
  • Strengthen manufacturing capabilities
  • Enhance India’s integration into global value chains

India Maintains Position as Fast-Growing Major Economy

The latest SBI Research projections reinforce India’s position as one of the world’s fastest-growing major economies. Strong domestic demand, improving financial conditions and continued infrastructure investment are expected to support sustainable economic growth in the coming years.
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Strong Infrastructure Demand Drives India’s Construction Equipment Industry Growth

India’s construction equipment industry achieved record-breaking growth in FY 2025-26, driven by rapid infrastructure development, strong government investment and rising global demand for Indian-made heavy machinery. According to the Ministry of Heavy Industries, the sector recorded total sales of 1,40,191 units during the financial year, registering a 3% year-on-year (YoY) increase.

Key Highlights of India’s Construction Equipment Industry Growth

  • Total construction equipment sales reached 1,40,191 units in FY 2025-26.
  • Industry sales recorded a 3% YoY growth compared to the previous financial year.
  • Exports surged by 31.5% YoY, touching 16,885 units.
  • India is emerging as a major global hub for construction and earthmoving equipment manufacturing.
  • Strong demand was witnessed from sectors including:
  • Highways and roads
  • Railways
  • Mining
  • Urban infrastructure
  • Energy projects
  • Real estate development

Infrastructure Push Driving Industry Expansion

The continued expansion of India’s infrastructure sector has played a major role in boosting demand for construction machinery and heavy equipment. Large-scale public investments in roads, smart cities, rail connectivity, mining operations and industrial corridors have accelerated mechanisation across the country.
Government-backed infrastructure initiatives have significantly supported manufacturing growth and technology adoption within the industry.

Government Policies Supporting Growth

Several flagship government programmes have strengthened India’s construction equipment ecosystem, including:
Production Linked Incentive (PLI) Scheme
The PLI scheme has encouraged domestic manufacturing, localisation and advanced technology adoption in heavy engineering and industrial equipment production.
National Infrastructure Pipeline (NIP)
The NIP has boosted long-term infrastructure investments across transportation, logistics, energy and urban development sectors.
PM Gati Shakti Programme
The PM Gati Shakti initiative has improved multi-modal infrastructure planning, accelerating construction activities and increasing demand for modern machinery.

Rising Global Demand for Indian Construction Equipment

India’s construction equipment exports witnessed remarkable momentum during FY 2025-26. Indian-made machinery is increasingly gaining acceptance in international markets due to its competitive pricing, improved quality and fuel-efficient technology.
Key export destinations include:
  • Africa
  • Southeast Asia
  • Middle East
  • Latin America
Industry experts believe India is becoming an important player in the global construction equipment supply chain as manufacturers continue expanding production capacity and improving engineering capabilities.

Growing Demand for Advanced Equipment

The market has also seen rising demand for:
  • Fuel-efficient machines
  • Smart and automated equipment
  • Sustainable construction technologies
  • High-performance mining and earthmoving machinery
This shift reflects the industry’s growing focus on productivity, energy efficiency and modern infrastructure development.
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India Set to Lead G20 Growth in FY27: Moody’s Projects 6.4% GDP Expansion

India is expected to remain the fastest-growing major economy in the world.

In its latest outlook, Moody’s Ratings has projected India’s GDP to grow at 6.4% in FY27, the highest among all G20 economies. The growth outlook reflects strong domestic demand, policy momentum, and a resilient banking system — all critical indicators for the logistics and freight sector.

For businesses in shipping, freight forwarding, warehousing, and cross-border trade, this signals continued expansion opportunities.

What’s Driving India’s Growth?

Moody’s highlights several structural strengths powering the Indian economy:

  • Strong domestic consumption trends
  • Supportive government policy initiatives
  • Resilient banking sector
  • Improving credit growth
  • Stable inflation environment
This steady macroeconomic foundation creates a positive outlook for trade volumes, cargo movement, and infrastructure investment.

GDP Forecast: How It Compares

Here’s how the projections stack up:

  • FY27 (Moody’s projection): 6.4%
  • FY26 (Official estimate): 7.4%
  • FY25 (Official estimate): 6.5%
  • Economic Survey projection for FY27: 6.8%–7.2%
While Moody’s estimate is slightly conservative compared to government expectations, India still outpaces other G20 economies in projected growth.

Banking System Outlook: A Key Signal for Trade & Logistics

A stable banking system is critical for working capital, trade finance, and freight credit cycles.
Moody’s notes:
  • Asset quality remains resilient
  • Some pressure expected in theMSME segment
  • Banks have adequate provisions and reserves
  • Capitalisation levels remain stable
  • Profitability among large corporate borrowers supports system strength
For logistics businesses, this means continued access to funding and trade finance, especially important for freight forwarders and exporters.

Credit Growth & Interest Rate Environment

  • Loan growth expected at 11%–13% in FY27
  • Compared to 10.6% in FY26 (year to date)
  • Reserve Bank of India reduced policy rate by 125 basis points to 5.25% in 2025
  • Further easing in FY27 depends on economic slowdown trends

Lower borrowing costs could further stimulate:

  • Infrastructure projects
  • Manufacturing output
  • Export-import trade
  • Fleet expansion and warehousing investments

What This Means for the Logistics Sector

For freight forwarders, transporters, and supply chain players:
  • Higher consumption = Increased cargo volumes
  • Credit growth = More trade financing
  • Infrastructure spending = Better logistics networks
  • Stable banking system = Stronger business confidence
  • India retaining fastest G20 growth = Increased foreign investment
This macro momentum directly supports sectors like:
  • Air freight
  • Sea freight
  • Warehousing
  • Cross-border trade

How CargoNet Helps Logistics Businesses Capture This Growth

As volumes rise and operations scale, logistics companies need greater visibility, control, and financial clarity. Digital logistics platforms like CargoNet play a critical role in enabling this transition.
CargoNet helps logistics and freight businesses:
  • Manage air, sea, and inland freight operations from a single platform
  • Streamline documentation, compliance, and billing
  • Gain real-time visibility into shipments and finances
  • Improve cost control, profitability, and decision-making
  • Scale operations efficiently as trade volumes grow

Key Takeaways

  • India projected to grow 6.4% in FY27, fastest in G20
  • Banking sector remains resilient despite MSME stress
  • Credit growth accelerating
  • Interest rates lowered to support economic momentum
  • Strong domestic demand remains the core growth engine
As India’s economic momentum drives higher trade volumes and more complex supply chains, logistics businesses must evolve with speed and precision. CargoNet enables freight forwarders and logistics companies to operate smarter, stay compliant, and scale confidently in the world’s fastest-growing major economy.
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