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By Dr. Nilanjan Banik The Union Cabinet’s approval, on 14 October 2026, to sell the government’s and LIC’s combined 60.72% stake in IDBI Bank to a Fairfax Financial Holdings subsidiary for about ₹52,878 crore is more than another entry in India’s disinvestment ledger. At roughly $5.6 billion, it is the largest foreign investment yet in […]

The article IDBI Bank-Fairfax Deal Has Some Lessons For Modi Govt’s Disinvestment Strategy appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

Singh estimated the sector’s current value at approximately $9 billion and projected it could reach $40 billion to $45 billion over seven to eight years. Speaking at a New Delhi roundtable on Saturday, he said the next priority was building internationally competitive businesses rather than simply demonstrating technological capabilities.

The minister identified predictable customer demand, domestic and overseas capital, efficient approvals and sustainable business models as essential conditions for expansion. His remarks at the Bloomberg New Economy Forum placed commercial viability at the centre of the government’s efforts to enlarge the role of private companies in space activities.

Government departments could become anchor customers for emerging enterprises, Singh said, providing contracts that enable businesses to test technology and develop products for wider markets. Support for proof-of-concept projects would also help companies demonstrate practical applications before committing to larger production programmes.

Such arrangements could address a central challenge for space ventures: securing reliable revenue while facing substantial development costs and lengthy periods before projects generate returns. Singh argued that an identifiable customer base would encourage manufacturing investment and allow companies to establish more durable commercial operations.

He also called for defined timeframes for installation and export licences, alongside lower operating costs and better integration of supply chains. Regulatory improvements, he said, must produce practical results for companies seeking to enter the market or expand their activities.

Singh referred to goods and services tax measures affecting space products, saying policy changes should deliver tangible benefits to industry. He did not announce a fresh tax package or specify new deadlines for regulatory decisions during the discussion.

The forecast broadly matches the longer-term ambition set out by the Indian National Space Promotion and Authorisation Centre, or IN-SPACe, which has outlined a $44 billion space economy by 2033. Its strategy envisages $11 billion in exports, with opportunities spanning satellite communications, navigation, Earth observation, manufacturing and launch services.

That target remains an aspiration rather than an assured outcome. Delivering it would require sustained growth across multiple segments, with private operators securing customers and financing while navigating technical, regulatory and commercial risks.

Figures disclosed to Parliament in July illustrate both the expansion of private participation and the distance still to travel. Singh said cumulative private investment had reached $618.5 million by March 31, 2026, while $187 million had been reported during 2026. The government had granted 105 authorisations to non-government entities as of July 14.

Those authorisations are subject to national security and strategic considerations under IN-SPACe procedures. The government has said it is developing dedicated safety and security guidelines as commercial activity expands, reflecting the need to balance market access with oversight of sensitive technologies.

Singh said international partnerships could bring investment, technological expertise and access to overseas customers, while domestic capabilities remained important for strategic autonomy. He advocated closer cooperation among government agencies, private enterprises and foreign partners, particularly where collaboration could strengthen manufacturing networks and market access.

He pointed to satellite communications, geospatial services and Earth observation as areas where space technology already supports economic activity. Applications include infrastructure monitoring, agriculture, disaster management and defence, alongside services built around satellite data.

The minister highlighted government use of geotagging to monitor development projects, track implementation schedules and assist administrative clearances. He also cited space-based disaster information supplied to neighbouring countries, including Myanmar, Bangladesh and Sri Lanka.

The commercialisation programme follows the opening of space activities to private participation in 2019 and 2020, a change that enabled enterprises to work alongside public institutions. Singh said that cooperation had yielded results but that technical achievement alone would not guarantee commercial success. The distinction is significant for companies developing satellite hardware, data services and launch technologies: demonstrating that a system works is different from securing repeat orders at prices sufficient to sustain operations. Public procurement and export access could therefore influence investment decisions.

The roundtable, titled Space, Sovereignty and New Economy, included IN-SPACe promotion director Vinod Kumar and Aisha Bowe, founder and chief executive of STEMBoard and LINGO, a former NASA engineer who has flown with Blue Origin. Participants discussed investment, international cooperation and the challenge of converting national space capabilities into commercially viable enterprises.

China’s gross domestic product grew 4.5% year on year during July to September, exceeding economists’ forecast of 4.4% and accelerating from 4.3% in the preceding quarter, according to the National Bureau of Statistics.

Bitcoin briefly climbed towards $82,500 as cryptocurrency traders responded to the stronger economic figures and improving conditions in traditional financial markets. Nasdaq futures also advanced, reflecting renewed demand for technology shares following a difficult period for companies associated with artificial intelligence.

The market recovery was uneven, however. South Korea’s Kospi faced selling pressure after an initial improvement, highlighting continuing concerns about technology valuations and the substantial financing requirements of artificial intelligence development.

US Nasdaq futures gained approximately 1% during Asian trading, while contracts tracking the broader S&P 500 advanced around 0.7%. Lower energy prices provided additional support as investors assessed their implications for inflation, corporate earnings and borrowing costs.

China’s economic figures offered a measure of reassurance about activity in the world’s second-largest economy. Quarterly output increased 1.2% from the preceding three months, exceeding expectations for a 1.1% expansion and improving from 0.9% growth during April to June.

The stronger performance was supported by exports and industrial production, although weaknesses in household consumption and property investment continued to complicate the economic outlook.

Official figures showed industrial production increasing 5.5% year on year in September, compared with 5.2% in August. Retail sales grew 1.1%, indicating modest improvement in consumer spending despite persistent pressure on household confidence.

China’s government has established an annual economic growth target of approximately 4.5% to 5%, making the third-quarter performance significant for policymakers considering whether further stimulus measures are necessary.

Growth during the first nine months reached 4.6%, according to official estimates, keeping the economy within reach of the government’s full-year objective.

Financial markets nevertheless remained sensitive to concerns that China’s expansion depends heavily on exports and industrial investment rather than sustained improvements in domestic demand.

The property sector remained a particular concern, with investment continuing to contract despite measures intended to support homebuyers and stabilise developers.

Oil markets supplied another important influence on trading. Brent crude futures declined approximately 1.7% to $107.95 a barrel, while US crude futures slipped 0.8% to $100.62.

The decline followed developments surrounding Washington’s sanctions policy towards Russia. President Donald Trump indicated that restrictions could be eased, potentially allowing additional Russian energy supplies into international markets, although the administration had not finalised its position.

US Secretary of State Marco Rubio indicated that the administration could take up to 60 days to assess the economic consequences of changing sanctions arrangements.

Lower crude prices helped ease immediate concerns about inflation, particularly because energy costs influence transport, manufacturing and household expenditure across major economies.

US government bonds strengthened as yields declined. The benchmark 10-year Treasury yield fell approximately four basis points to 5.0525%, providing some relief to financial markets concerned about elevated borrowing costs.

Expectations surrounding Federal Reserve policy remained important for cryptocurrency investors. Lower inflation could eventually create additional room for monetary easing, although policymakers face competing pressures from energy markets and economic activity.

The Federal Reserve’s benchmark interest rate currently stands between 4.75% and 5%, with financial markets expecting policymakers to leave borrowing costs unchanged at their next meeting.

Across Asian equities, the initial advance reflected bargain hunting following substantial losses in technology stocks. Japan’s Nikkei and South Korea’s Kospi both experienced volatile trading as investors reassessed exposure to semiconductor manufacturers.

Concerns about artificial intelligence spending remained prominent. Goldman Sachs estimates that five major technology companies could increase their combined capital expenditure to approximately $1.2 trillion next year, raising questions about investment returns.

China’s currency strengthened against the dollar, with the yuan reaching approximately 6.6828, its strongest level since July 2022.

Gold traded around $4,181 an ounce, supported by declining bond yields, while the dollar remained under pressure against several currencies.

Elsewhere, European equity futures weakened amid political uncertainty in France, demonstrating the differing regional influences on international investment flows.

Chinese blue-chip shares edged lower after initially benefiting from the economic figures, with investors continuing to assess whether stronger industrial activity would translate into a sustained improvement in domestic consumption.

Vishnu Vardhan Reddy, Consul General of India in Dubai and the Northern Emirates, said innovation, renewable energy, defence and space technology could contribute to the next phase of economic expansion. He was addressing the Innovators and Investors Series organised by the Indian People’s Forum on October 16.

The proposal comes as both governments pursue a target of $200 billion in bilateral trade by 2032. Trade reached $101.25 billion during India’s 2025-26 financial year, exceeding $100 billion for a second consecutive year, according to official figures.

Reddy urged businesses and investors to establish partnerships capable of taking emerging enterprises into international markets. Investment in technology businesses, he argued, could create additional commercial activity while linking the UAE’s capital providers with enterprises developing products and services in India.

His remarks were an assessment, not a new government commitment or forecast backed by contracts. Achieving the target would require substantial expansion across multiple sectors, including those already accounting for the largest share of bilateral commerce. The $200 billion figure is a bilateral merchandise trade ambition, not a valuation of technology investments or start-up fundraising.

India’s exports to the UAE totalled approximately $37.36 billion in 2025-26, while imports were about $63.89 billion. The UAE remained India’s third-largest trading partner and second-largest export destination. India was the UAE’s second-largest trading partner, according to diplomatic trade data.

The technology emphasis follows a September meeting of the UAE-India High Level Joint Task Force on Investments, where officials agreed to advance work on local-currency settlement, payment-system integration and central-bank digital currencies. Those initiatives are intended to make financial transactions and cross-border commerce more efficient. Officials also discussed cooperation in financial infrastructure, an area where payment interoperability could lower friction for businesses operating in both markets.

The task force also examined investment proposals involving manufacturing, food processing and logistics. Projects discussed included an integrated aluminium complex proposed for Odisha, a food park in Gujarat and opportunities for aviation and logistics development at Dholera.

At the Dubai forum, speakers called for greater participation by UAE investors in start-ups seeking financing, commercial partnerships and access to international customers. The gathering connected entrepreneurs with businesses and potential financial backers.

Two enterprises, JE Plus Healthcare and University Living, presented their business models. JE Plus Healthcare focuses on distribution and logistics for healthcare products, while University Living provides accommodation services for students studying away from home. Both were seeking investment to expand their operations. Their presentations illustrated the range of businesses seeking support, from physical supply chains to digital services for international customers.

Actor and investor Vivek Oberoi told participants that unsuccessful investments were part of entrepreneurship and that investors needed to recognise the lessons associated with business failures. He said he had invested in 35 companies, with mixed results across his portfolio.

Jitendra Vaidya, national president of the Indian People’s Forum, said stronger two-way investment could support commercial ties between the countries. The organisation’s business representatives encouraged investors to examine opportunities in technology, artificial intelligence, machine learning and robotics.

Mahesh Advani, convenor of the forum’s business council, urged UAE investors to consider start-up financing. Piyush Jhunjhunwala, co-convenor of its business and professional council, identified technology-led businesses as a potential destination for private capital.

Figures circulated at the event described a substantial start-up and venture investment ecosystem in India, including companies operating in financial services and advanced technology. However, the figures covered different categories of businesses and financing activity, making direct comparisons difficult without consistent definitions and reporting periods.

The bilateral trade framework rests on the Comprehensive Economic Partnership Agreement, which entered into force in May 2022. It reduced trade barriers across numerous product categories and provided a platform for wider business cooperation. Trade volumes nevertheless remain sensitive to energy prices, demand conditions and changes in the composition of imports and exports.

Government initiatives now include Bharat Mart, intended to support access to markets, and a Virtual Trade Corridor designed to simplify trade processes. Both form part of efforts to improve the movement of goods and information between the two economies.

The Dubai forum was organised by the Indian People’s Forum, a community organisation that also conducts business and professional networking activities in the UAE.

Addressing the National Assembly in Hanoi on Saturday, Hung presented the government’s economic objectives for next year, including inflation of approximately 4.5%, gross domestic product per capita of $6,100 and labour productivity growth of 8.6%.

The proposed targets form part of 45 socioeconomic indicators submitted to lawmakers as the government seeks to sustain rapid expansion while addressing structural weaknesses, administrative bottlenecks and pressures on public finances.

Hung said achieving double-digit growth would require stronger coordination between fiscal and monetary policies, more effective mobilisation of investment resources and substantial improvements in the business environment.

The government intends to make science, technology, innovation and digital transformation central drivers of economic expansion, alongside institutional reforms designed to improve productivity and encourage private investment.

The announcement follows an earlier parliamentary resolution establishing average annual GDP growth of at least 10% as the national objective for 2026-2030. The 2027 proposal translates that broader ambition into specific annual targets and policy priorities.

Vietnam’s economy expanded by an estimated 9.01% during the first nine months of 2026, according to figures cited in a government resolution issued this month. The performance provides a foundation for next year’s target but also underlines the additional acceleration required.

The government has identified infrastructure development, industrial modernisation and improvements in investment procedures as essential to sustaining expansion. Hung emphasised that economic growth must be accompanied by inflation control and stability in the country’s principal financial balances.

Authorities plan to accelerate public investment disbursement, particularly for strategic infrastructure projects, while addressing delays in project approvals and implementation. Greater efficiency in allocating public resources is expected to support the government’s development priorities.

Private enterprise is also expected to assume a larger role. The administration wants to remove regulatory obstacles, improve access to productive resources and create more favourable conditions for businesses operating across different sectors.

The policy programme places considerable emphasis on improving the quality of growth rather than relying exclusively on expanding investment. Productivity gains are expected to become increasingly important as Vietnam pursues higher economic output and stronger competitiveness.

Hung’s presentation identified institutional reform as a central requirement for implementing the government’s objectives. Ministries and provincial administrations will be expected to translate national targets into specific responsibilities, implementation schedules and measurable outcomes.

The government also intends to strengthen coordination across administrative levels, improve public-sector accountability and address persistent obstacles affecting investment and business operations.

Maintaining price stability represents another important element of the programme. The proposed consumer price inflation target of approximately 4.5% reflects the administration’s intention to balance expansionary economic measures against the need to protect purchasing power.

Fiscal policy will consequently face competing demands from infrastructure investment, public services and social welfare commitments. Monetary authorities will also need to support productive activity without undermining financial stability.

The government’s economic programme includes measures to strengthen domestic production, improve supply chains and encourage technological adoption. These priorities are intended to support industrial competitiveness and reduce constraints on productivity.

Digital transformation features prominently in the development strategy, with authorities seeking broader application of technology across public administration and economic activity. The approach links improvements in government efficiency with efforts to modernise businesses.

The prime minister also stressed the importance of mobilising resources more effectively, including investment capital, land and other productive assets. Better allocation of these resources is expected to help overcome barriers to growth.

Social development remains part of the proposed framework. The government aims to reduce the multidimensional poverty rate by between one and 1.5 percentage points during 2027, while improving living standards and maintaining essential public services.

The targets were presented during the opening of the second session of the 16th National Assembly, which is examining the government’s assessment of economic performance in 2026 and its proposed development programme for the following year.

The broader policy framework also covers environmental protection, national security and international economic integration, alongside measures to strengthen the country’s administrative institutions.

A Communist Party Central Committee decision governing the 2027 budget framework calls for state budget revenue to increase by approximately 9.1% compared with the estimated 2026 outcome.

It also provides for savings of 5% from public investment allocations and 10% from specified recurrent expenditure categories, directing additional resources towards priority projects and social welfare programmes.

The meeting brought together the Supreme Council Member and the visiting minister as both countries seek to expand commercial partnerships, investment opportunities and diplomatic engagement. Discussions also covered bilateral relations and developments affecting the Gulf region.

Jaishankar described the meeting as an opportunity to exchange views on strengthening relations between the two countries and expanding engagement across the region. He acknowledged Sheikh Saud’s perspectives on bilateral cooperation and confirmed that the situation in the Gulf featured in their discussions.

The talks took place during the final day of Jaishankar’s three-day official visit to the UAE, which began on October 14. The visit was intended to review progress under the Comprehensive Strategic Partnership and identify opportunities for further cooperation across economic and diplomatic sectors.

Neither side announced a new investment agreement, trade target or commercial project following Friday’s meeting. The discussions nevertheless provided another channel for engagement between India’s government and the leadership of individual UAE emirates, alongside established federal diplomatic arrangements.

Economic cooperation remains central to relations between the two countries. Their Comprehensive Economic Partnership Agreement, which entered into force in May 2022, provides preferential market access for eligible goods and establishes mechanisms to facilitate trade and investment.

The agreement has supported efforts to diversify commercial exchanges beyond traditional energy transactions, with businesses exploring opportunities in manufacturing, logistics, infrastructure, technology and services. Its implementation also provides a framework for addressing commercial barriers and encouraging greater participation by companies operating in both markets.

Ras Al Khaimah has pursued investment partnerships involving manufacturing, industrial production, construction materials and logistics. Its industrial infrastructure and connections to regional shipping networks provide opportunities for businesses seeking production facilities and access to markets across the Gulf.

The emirate’s commercial engagement with India was also discussed during a July meeting between Sheikh Saud and India’s Ambassador to the UAE, Deepak Mittal, who was accompanied by business representatives.

That meeting examined opportunities for cooperation across several sectors and ways to utilise Ras Al Khaimah’s economic advantages. The discussions reflected continuing engagement between the emirate’s leadership and businesses interested in developing commercial operations within its jurisdiction.

Friday’s meeting followed talks on Wednesday between Jaishankar and UAE Deputy Prime Minister and Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan in Abu Dhabi.

The two ministers reviewed cooperation under the Comprehensive Strategic Partnership and Comprehensive Economic Partnership, with particular attention to trade, investment and economic development. They also exchanged views on international issues and developments affecting regional stability.

Sheikh Abdullah reaffirmed the UAE’s commitment to strengthening bilateral relations and identifying opportunities that support the development priorities of both countries. Their discussions covered existing cooperation and possibilities for expanding engagement in sectors considered important to their respective economies.

The diplomatic exchanges come as governments and businesses assess the implications of uncertainty across the Gulf for investment, shipping and energy supplies. Regional stability remains an important consideration for commercial activity involving the UAE and India, particularly given their extensive trade and transport connections.

Jaishankar also participated in the Raisina Middle East Dialogue in Abu Dhabi on Thursday, joining discussions about international connectivity, strategic partnerships and the changing economic geography of global trade.

Speaking during a session examining continental corridors, he highlighted growing competition, emerging transport constraints and the importance of building reliable partnerships. His remarks addressed the challenges facing countries seeking secure commercial connections amid shifting geopolitical and economic conditions.

The dialogue, held on October 14 and 15, brought together participants to examine regional and international developments, including connectivity initiatives and cooperation between governments.

India’s relationship with the UAE also encompasses energy supplies, defence cooperation and investment, alongside extensive people-to-people connections. These established links provide an additional foundation for discussions involving the federal government and individual emirates.

The Embassy of India in Abu Dhabi estimated that approximately 4.3 million nationals from India were living in the UAE in 2024, representing roughly 35 per cent of the country’s population.

Ras Al Khaimah’s geographical position near the Strait of Hormuz adds a regional dimension to discussions about trade and connectivity. The emirate borders Oman and maintains industrial and maritime facilities serving businesses involved in manufacturing, construction materials and international commerce.