Author: Neel Achary

Jaishankar Highlights Strong India–Suriname Civilisational Ties

Paramaribo (Suriname), May 6 (BNP): External Affairs Minister S. Jaishankar, on his first official visit to Suriname, emphasized the strong historical and cultural bonds between the two countries, describing the relationship as one rooted in shared heritage and enduring people-to-people connections.

 Pic Credit: https://x.com/DrSJaishankar

He noted that India’s engagement with Suriname goes beyond traditional diplomacy, reflecting deep civilisational linkages shaped by migration history and cultural affinity, particularly among the Indian-origin community in the Caribbean and South American region.

The Minister highlighted that these longstanding ties continue to serve as a foundation for expanding cooperation in key areas such as trade, development partnership, digital initiatives, capacity building, and cultural exchange.

Reaffirming India’s commitment, Jaishankar said both nations are working to further strengthen bilateral relations and explore new avenues of collaboration that benefit their people.

The visit is seen as part of India’s broader outreach to deepen engagement with partner countries through cultural and developmental diplomacy.

Cabinet Approves Major Infra, Judiciary, and Farm Sector Reforms

New Delhi, May 6 (BNP): The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved a series of major decisions aimed at strengthening infrastructure, judicial capacity, agriculture, industry, and maritime development.

Under the PM-Gati Shakti National Master Plan, the Cabinet approved three multitracking railway projects covering 19 districts across Madhya Pradesh, Rajasthan, Uttar Pradesh, Karnataka, Andhra Pradesh, and Telangana, aimed at improving connectivity and logistics efficiency.

In judicial reforms, the Cabinet approved the introduction of the Supreme Court (Number of Judges) Amendment Bill, 2026, to increase the strength of the Supreme Court of India from 33 to 37 judges (excluding the Chief Justice), supporting faster delivery of justice.

For the agriculture sector, the government fixed the Fair and Remunerative Price (FRP) of sugarcane at ₹365 per quintal for the 2026–27 season, benefiting millions of farmers and workers engaged in the sugar industry.

The Cabinet also approved the “Mission for Cotton Productivity” with an outlay of ₹5,659.22 crore to boost cotton yields, promote advanced farming technologies, and enhance India’s competitiveness in global textile markets by 2030–31.

In a major maritime infrastructure push, the government announced the development of a state-of-the-art Ship Repair Facility at Vadinar, Gujarat. The project will significantly expand India’s ship repair ecosystem and is expected to generate both direct and indirect employment. It will also promote skill development and support the growth of maritime ancillary industries and MSMEs in the surrounding region.

These initiatives collectively aim to strengthen infrastructure, improve governance efficiency, support farmers, boost industrial growth, and enhance India’s maritime capabilities.

Four Industry Veterans Launch Daksham Capital, a Premium Family Office and Financial Services Firm

New Delhi, May 6: In a move shaped by shared conviction and complementary expertise, four seasoned leaders from the financial services industry have come together to launch Daksham Capital, a multi-family office, premium private banking and wealth management firm serving high-net-worth and ultra-high-net-worth individuals, family-owned businesses, CXOs and global Indian investors.

Headquartered in Delhi-NCR region, the firm is led by Saket Lakhotia (Group CEO) (CA,CS IIM Indore), Astha Mago (COO) (CA, Alumni of IIM Ahmd), Achin Bhardwaj (Jt. CIO) (CFA,SRCC, Masters in Finance, DU) and Pankaj Kedia (Jt. CIO) ( CA,CS MDI Gurgaon), bringing rich experience spanning private banking, fund management, investment banking, corporate advisory and institutional finance. Together, the leadership team brings a blend of strategic management, market insight and institutional experience.

With India’s serviceable wealth pool set to triple to ~$9 trillion by 2035, Daksham Capital aims to address fragmented advisory through an integrated, research-led wealth platform. Saket Lakhotia, Group CEO said, “India’s wealth management landscape is at an inflection point. Clients today are more informed and more discerning than ever before — they expect institutional rigour, beyond just relationship-driven advice. Our investment framework is built around that expectation, combining proprietary research with a disciplined, process-driven approach to deliver consistent, long-term outcomes.”

At its core, Daksham Capital is built around a research-first and process-driven approach. The platform combines institutional-grade research, proprietary allocation models, disciplined product selection frameworks, and continuous portfolio monitoring to help clients navigate an increasingly complex investment environment. Daksham follows a process-based approach to risk management and return optimization, ensuring that every portfolio decision is evaluated through the lens of suitability, diversification, liquidity, risk, and long-term wealth outcomes.

Daksham Capital’s guiding principles are anchored in its “Daksham Compass” — Wisdom, Stability, Ethics, and Niche. These principles reflect the firm’s commitment to experience-backed insights, disciplined processes, personalized solutions, and uncompromising integrity. Trust, transparency, and accountability remain central to the firm’s advisory philosophy.

The firm combines human insight with algorithmic precision, leveraging data intelligence, analytics and AI-driven advisory to enable clarity, agility and control.

With a prior track record of advising 600+ clients amounting to $1 bn+ of assets under advisory, Daksham Capital combines institutional depth with diligent processes and is well positioned to bring a fresh approach to a rapidly growing industry. It is entering the market with a focus on delivering disciplined, transparent and long-term wealth strategies.

India Services Growth Hits 5-Month High in April

May 6 (BNP): India’s services sector gained momentum in April, rising to a five-month high as stronger demand and new business orders supported overall expansion, according to the latest HSBC Services PMI data compiled by S&P Global.

The seasonally adjusted index increased to 58.7 in April from 58.5 in March, marking the 45th consecutive month above the 50-point threshold that separates growth from contraction.

The improvement was driven by a sharp rise in new orders, which also encouraged companies to increase hiring at a faster pace to meet rising workload. Employment growth reached a ten-month high as firms expanded capacity to handle stronger business inflows.

International demand also strengthened, with export orders rising at their fastest pace since July 2024, supported by clients from Asia, Europe, West Asia, and the United States. Finance and insurance sectors led the growth, while consumer services also showed strong performance.

Although input cost pressures eased to a six-month low, companies raised selling prices at a quicker rate, reflecting higher wage and transportation expenses.

Despite a slight dip in business confidence, firms remained broadly optimistic about continued growth in the coming months, supported by steady demand conditions and improving market activity.

Indian Firms Announce Dollar 20.5 Billion Investment in US

New Delhi, May 6 (BNP): Indian companies have announced a record $20.5 billion investment commitment in the United States during the SelectUSA Summit, highlighting strong and growing economic engagement between the two countries.

About 12 Indian firms confirmed immediate investment deals across key sectors including technology, manufacturing, and clean energy. These investments are expected to support job creation, strengthen industrial partnerships, and enhance supply chain linkages between India and the US.

The announcement reflects increasing confidence among Indian businesses in the US market and underscores expanding bilateral commercial cooperation. The investments are also seen as a step toward deeper economic integration and long-term strategic business partnerships between the two nations.

Cabinet Approves ECLGS 5.0, INR 2.55 Lakh Crore Credit Support for Businesses

New Delhi, May 6 (BNP): The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the fifth version of the Emergency Credit Line Guarantee Scheme (ECLGS 5.0) to support businesses facing liquidity stress due to ongoing disruptions linked to the West Asia situation.

The scheme aims to facilitate an additional credit flow of around ₹2.55 lakh crore, with special support of ₹5,000 crore allocated for the aviation sector. It will provide government-backed guarantees through the National Credit Guarantee Trustee Company Limited to reduce lending risk and encourage credit expansion.

Under the revised framework, micro, small and medium enterprises (MSMEs) will receive 100% guarantee coverage on additional credit, while non-MSMEs and airlines will be covered up to 90%. Eligible borrowers include entities with standard loan accounts as of March 31, 2026.

The scheme allows additional working capital support of up to 20% of peak utilization during Q4 of FY 2025–26, capped at ₹100 crore per borrower. For airlines, funding support can go up to 100% of requirements, subject to defined limits.

Loan tenures have been set at five years for MSMEs and non-MSMEs, and seven years for airlines, including moratorium periods. The guarantee coverage will remain valid throughout the loan duration.

The government stated that ECLGS 5.0 is designed to ensure business continuity, safeguard employment, and stabilize supply chains, particularly for MSMEs and the aviation sector, while helping the economy navigate external global shocks.

The scheme builds on earlier ECLGS versions introduced to mitigate economic disruptions and strengthen the resilience of India’s business ecosystem.

ADB Plans Dollar 70 Billion Boost for Asia-Pacific Energy and Digital Links