Industry News for April 2026
Over 6,700 startups shut as ecosystem sees churn
India has seen 6,789 recognised startups classified as “closed”, according to data shared in Parliament by the Department for Promotion of Industry and Internal Trade.
Out of more than 2.12 lakh recognised startups as of January 2026, closures were highest in IT services (875), followed by healthcare and life sciences (553) and education (491). Other sectors such as food and beverages and agriculture also reported notable shutdowns.
The government noted that closures are driven by factors including business model viability, market alignment, funding availability and broader economic conditions. Despite this churn, the startup ecosystem continues to remain active, reflecting ongoing innovation alongside consolidation trends.
Government to introduce fresh amendments to insolvency law
The Centre plans to table the Insolvency and Bankruptcy Code (Amendment) Bill, 2025 during the second half of the Budget session, Finance Minister Nirmala Sitharaman said.
The proposed amendments aim to improve timelines, strengthen resolution processes and align India’s insolvency framework with global standards. The changes are based on recommendations of a parliamentary committee reviewing the law.
This will mark the seventh legislative amendment since the Insolvency and Bankruptcy Code was introduced in 2016, reflecting the government’s continued effort to refine the insolvency ecosystem and enhance ease of doing business.
Women remain under-represented in corporate leadership roles
Women held only 12.4 per cent of key managerial positions in Indian companies in FY25, according to a report by the CFA Institute.
The study found that nearly two-thirds of companies surveyed had no women in key managerial roles. Workforce growth also favoured men, with female employment growing at a slower pace compared to male employees.
At the board level, women accounted for about 19 per cent of positions. The findings highlight persistent gender imbalance in corporate leadership despite broader workforce participation, indicating the need for stronger diversity initiatives at senior levels.
AI platform reduces food loss, boosts farmer incomes
Agritech firm FarMart reported that its AI-driven platform has significantly reduced food loss and improved farmer incomes across its supply chain network.
According to its 2025 impact report, the platform prevented over 18,000 metric tonnes of post-harvest losses, saved 5.39 billion litres of water and avoided 23,567 tonnes of carbon emissions. The company also facilitated payments of over Rs. 23.4 billion to nearly 4.8 lakh farmers.
The initiative highlights how technology-led optimisation of sourcing, logistics and commerce can improve efficiency, enhance transparency and strengthen income predictability for farmers within India’s agri-value chain.
Bharat Taxi crosses 2.3 lakh drivers under cooperative model
Union Cooperation Minister Amit Shah said the cooperative-led ride-hailing platform Bharat Taxi has onboarded 2.31 lakh drivers and 21.34 lakh users as of March 1, 2026.
Launched in February by eight national cooperative institutions, the platform currently operates across Delhi-NCR and select cities in Gujarat, with plans to expand to Tier-2 and Tier-3 regions and even tehsil-level markets over the next three years.
Bharat Taxi follows a zero-commission model, ensuring profits are directly shared with drivers. It also offers transparent pricing, real-time tracking, multilingual support and round-the-clock customer service, positioning itself as a domestic alternative to aggregator-based ride-hailing platforms.
Direct tax collections rise to Rs. 22.8 lakh crore
India’s net direct tax collections grew 7.1 per cent to around Rs. 22.8 lakh crore by March 17 of the current financial year, driven by strong corporate tax growth and moderated refund outflows.
Corporate tax collections rose about 13 per cent to Rs. 9.68 lakh crore, while non-corporate tax collections, including those from individuals and Hindu Undivided Families (HUFs), increased 3 per cent to Rs. 11.32 lakh crore.
Gross direct tax collections stood at Rs. 27.15 lakh crore during the period. Advance tax collections also increased by 6.4 per cent to Rs. 11.13 lakh crore, although non-corporate advance tax saw a slight decline.
The data reflects steady revenue growth despite moderating refund issuance.
Cabinet clears Rs. 2,585 crore small hydro power scheme
The Union Cabinet has approved a Rs. 2,585 crore scheme to develop 1,500 MW of small hydro power capacity across the country.
Union Minister Ashwini Vaishnaw said the projects will be implemented as run-of-river systems, avoiding large dams and displacement of people.
India has an estimated potential of 21,000 MW across 7,133 sites, while around 5,100 MW capacity is currently operational. The scheme, which will run till 2030–31, is expected to attract investments worth Rs. 15,000 crore.
The initiative is seen as a key step in strengthening renewable energy capacity while maintaining environmental sustainability.
UP highway project worth Rs. 6,969 crore gets Cabinet nod
The Union Cabinet has approved a Rs. 6,969 crore four-lane highway project connecting Barabanki and Bahraich in Uttar Pradesh to improve regional connectivity and logistics efficiency.
The 101.5 km project will be developed under the Hybrid Annuity Mode (HAM), with significant allocation towards construction and land acquisition. Authorities expect the project to generate over 79 lakh person-days of employment, both direct and indirect.
The upgraded corridor will address congestion, improve travel speed and reduce travel time between the two cities to about one hour, while also enhancing road safety and fuel efficiency.
The project is expected to support economic development and strengthen regional mobility.
Advance tax collections rise 6.4% in FY26
Advance tax collections for FY26 increased by 6.42 per cent to Rs. 11.13 trillion as on March 17, reflecting steady revenue momentum despite global uncertainties.
Corporate advance tax collections showed strong growth of 9.54 per cent, reaching Rs. 8.29 trillion, while non-corporate collections declined marginally by 1.78 per cent to Rs. 2.83 trillion. Overall, net direct tax collections rose 7.19 per cent to Rs. 22.80 trillion, supported by both corporate and individual tax contributions.
Experts noted that corporate tax performance remains robust, although external factors such as geopolitical tensions may influence profitability trends in certain sectors.
Govt targets 39 lakh rooftop solar installations in FY27
The government plans to install 39 lakh rooftop solar systems with a capacity of 11,700 MW in FY27 under the PM Surya Ghar Muft Bijli Yojana.
Monthly installations have seen rapid growth, rising from 15,000 in March 2024 to around 2 lakh in January 2026. The Ministry of New and Renewable Energy informed a parliamentary panel that over 30 lakh additional systems could be installed by March 2027 even at a conservative pace.
The scheme, launched in 2024, aims to achieve one crore rooftop installations by FY27. A significant portion of the ministry’s budget—over 90 per cent—has been allocated to solar energy initiatives.
The government is also expanding solar adoption in agriculture through schemes such as PM-KUSUM.
India Post launches 24/48-hour delivery services
India Post has entered the high-speed logistics segment with the launch of “24 Speed Post” and “48 Speed Post,” offering time-bound deliveries across major metro cities.
The service currently covers six key cities—Delhi, Mumbai, Bengaluru, Chennai, Kolkata and Hyderabad—and is expected to expand to Tier-1 and Tier-2 cities in phases. It includes features such as OTP-based delivery confirmation and a money-back guarantee if delivery timelines are not met.
Designed to support growing demand from e-commerce and financial sectors, the initiative marks a shift towards technology-driven logistics with predictable delivery cycles, including services on Sundays and public holidays.
The move aims to enhance reliability, transparency and efficiency in India’s postal services.
Smartphones emerge as India’s top export category
India’s smartphone exports touched $30 billion in 2025, making them the country’s leading export category, according to Electronics and IT Minister Ashwini Vaishnaw.
A major share—around 76 per cent—was contributed by Apple, with iPhone exports alone estimated at $23 billion. Total mobile phone production in India reached approximately Rs. 5.5 lakh crore, highlighting the country’s growing manufacturing capabilities.
The development reflects India’s rising position as a global manufacturing hub, supported by production-linked incentive (PLI) schemes and increasing investments from multinational companies.
The sector’s strong performance underscores its role in boosting exports, employment and technological advancement in the economy.
AI can generate up to $150 billion value for MSMEs by 2035
Artificial Intelligence could unlock value worth $135.6–149.9 billion for India’s manufacturing MSMEs by 2035, according to a joint study by PwC India and Observer Research Foundation.
The report highlights that AI, when deployed as a “co-pilot” rather than a replacement, can help MSMEs overcome productivity constraints, improve quality, and compete globally. By reducing capability barriers and scaling costs, AI can enable small firms to meet international standards and expand output efficiently.
The study also points to a potential $100–150 billion opportunity for MSMEs in supplying components to emerging sectors such as data centres and semiconductor ecosystems, driven by rising investments in these areas.
Indian ship recyclers seek EU recognition
Global ship recycler GMS has urged the European Commission to approve Indian ship recycling yards under the EU Ship Recycling Regulation, citing their compliance with global standards.
Despite over 110 Indian yards holding Hong Kong Convention compliance certificates and multiple inspections, none have been included in the EU-approved list. GMS argued that this exclusion reflects policy constraints rather than technical shortcomings.
India’s Alang yard, with an annual capacity of about 4.5 million tonnes, has recycled over 8,500 ships and recovers more than 98 per cent of materials. Studies indicate significantly lower carbon emissions compared to conventional steel production, strengthening the case for global recognition of Indian facilities.
Centre forms panel to revamp SEZ policy
The government has constituted a 17-member committee to recommend comprehensive reforms for Special Economic Zones (SEZs), aiming to develop a forward-looking SEZ 2.0 policy.
The panel will evaluate the effectiveness of the SEZ Act, 2005, and explore harmonisation with other export promotion schemes such as EOUs, EPCG, MOOWR and DFIA. It will also assess policy distortions, compliance requirements, and operational flexibility.
The committee includes representatives from key institutions such as NITI Aayog, DPIIT, customs authorities and CBIC. Its recommendations are expected to improve exports, investment, employment generation and ease of doing business in India’s evolving trade environment.
Rajasthan to launch Rs. 2,000 crore school infrastructure fund
The Rajasthan government will establish a Rs. 2,000 crore fund to upgrade school infrastructure, focusing on repairing and strengthening ageing buildings across the state.
The initiative includes construction of over 1,500 classrooms, laboratories and computer labs, along with the introduction of AI-based personalised learning labs in 1,000 schools. Additional investments will support sports facilities and play-based education in schools and Anganwadi centres.
The move aims to modernise educational infrastructure and integrate technology-driven learning, particularly for rural students, aligning with the broader vision of building a digitally empowered and skilled workforce.
