Union Minister Piyush Goyal’s Israel visit underscored India’s growing global reliability. Discussions focused on a phased Free Trade Agreement, leveraging Israel’s agricultural innovations for mutual growth. The successful trip, marked by strong industry and government interest, has initiated structured trade negotiations, signaling a new era in bilateral relations.

The government is considering allowing global tenders for essential patented medicines, including treatments for obesity, cancer, and diabetes, to address shortages in India. This move aims to ensure timely access to critical drugs for central healthcare agencies like the armed forces and ESIS, potentially expanding exemptions from domestic sourcing rules.

Consumer goods makers are delaying price hikes despite rising production costs, fearing government action after recent GST reductions. Companies across sectors like autos and electronics are holding prices steady, seeking clarity from authorities. This cautious approach aims to boost consumption and avoid potential regulatory scrutiny.

Indian equity markets anticipate a volatile week, influenced by upcoming domestic economic data like Q2 GDP and industrial production, alongside global market trends and foreign investor actions. Analysts suggest potential profit-booking if the rupee weakens, while also noting supportive domestic conditions and resilient flows. Investors will closely monitor US cues and trade developments for market

The Finance Ministry is revisiting the merger of Oriental, National, and United India Insurance companies following their financial recovery. This move revives a 2018 proposal aimed at boosting efficiency. Alongside this, the government is assessing options for privatizing a general insurer and plans to raise the FDI cap in the insurance sector to 100%.

India’s merchandise exports showed steady growth, reaching $220 billion in H1 FY26 despite global volatility. While the US remains a key market, its share has decreased, with India diversifying its export destinations. The government is providing significant assistance to exporters facing challenges like US tariffs.

The National Council (Staff Side) of the Joint Consultative Machinery has urged Prime Minister Narendra Modi to significantly amend the Terms of Reference for the 8th Pay Commission. Key demands include restoring the Old Pension Scheme for 26 lakh employees, revising pensions for all existing retirees, and reinstating the ‘stakeholders’ expectations’ clause.

India’s central government has notified comprehensive labour reforms under four new Labour Codes, consolidating 29 existing laws. These changes extend benefits to fixed-term, contract, gig, platform, and women workers, ensuring equal pay and expanded work opportunities. The reforms also introduce a national floor wage and simplify compliance for businesses.

India’s shrimp exports surged 18% to $2.43 billion in the first five months of FY26, driven by markets beyond the US. Exporters are successfully diversifying their global reach, with Vietnam, Belgium, China, and Russia showing significant gains. Despite facing higher US tariffs, early shipments to America saw a mild improvement, though a slowdown is anticipated.

The International Labour Organization emphasizes social dialogue as India implements four new labor codes, aiming for reforms that benefit both workers and industry. These codes introduce universal social security for gig workers, mandatory appointment letters, statutory minimum wages, and expanded safety mandates across sectors, prompting immediate compliance adjustments for businesses.