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The latest response includes curbs on bulk diesel purchases at retail outlets, a willingness to let the fiscal deficit widen beyond the Budget target, and measures to pull in overseas capital as policymakers try to contain pressure on inflation, subsidies and the balance of payments. The measures mark a sharp shift from the calmer macroeconomic backdrop at the start of the financial year, when lower inflation and steady growth had given authorities room to focus on consolidation.

Retail fuel outlets run by public sector oil marketing companies have been told to cap high-speed diesel sales at 200 litres per customer or vehicle per day. The restriction, planned for up to 90 days, is aimed at preventing hoarding and stopping commercial users from shifting large purchases to retail pumps, where prices are lower than bulk supply rates. Diesel bought from retail outlets cannot be resold, and dealers have been asked to ensure that sales go directly into vehicle tanks or approved containers.

The decision followed a surge in purchases from retail pumps after the conflict in West Asia widened the gap between retail and bulk diesel prices. Trucking firms, contractors and other commercial users have sought cheaper supplies, adding pressure on state-run fuel retailers that already carry most of the retail burden. Diesel accounts for a large share of transport and farm fuel demand, making any disruption politically sensitive as the kharif sowing season approaches.

The fiscal impact is becoming harder to ignore. The Budget had set the fiscal deficit target for 2026-27 at 4.3% of gross domestic product, after 4.4% in the revised estimate for 2025-26. Officials are now prepared to tolerate a higher deficit, potentially around 4.8% of GDP, if subsidy costs and energy-related spending rise further. Fertiliser subsidies are also expected to climb as global input costs move up, while fuel-related tax and pricing decisions could reduce revenue flexibility.

Spending cuts across ministries are being examined, though the Centre is likely to avoid sharp reductions in capital expenditure unless market conditions deteriorate further. Infrastructure spending has been one of the main pillars of growth in the past few years, and cutting it too deeply would risk weakening private investment at a time when companies are already facing higher transport and raw material costs.

The rupee has become the other pressure point. It strengthened on Friday after Brent crude fell below $90 a barrel on hopes of a diplomatic breakthrough, but the currency remains vulnerable to oil spikes because India depends heavily on imported crude. The Reserve Bank of India has introduced measures to attract dollar inflows, including support for foreign currency deposits and lower-cost hedging routes for overseas borrowing by state-run companies. Large lenders are preparing dollar bond issues, and banks expect a stronger push to tap non-resident deposits over the coming months.

Inflation has also started to reflect the shock. Retail inflation rose to 3.93% in May from 3.48% in April, with food and fuel costs moving higher. The reading remains close to the central bank’s 4% target, but the risk is that higher diesel prices feed into freight, farm operations and food distribution. Any weak monsoon spell linked to El Niño conditions would add another layer of pressure.

By Dr. Nilanjan Banik The Indian economy, to quote from Charles Dickens’ novel, looks like A Tale of Two Cities. Recent estimates suggest India’s real GDP expanded by 7.8%, with strong growth noted across sectors: services (9.3%), manufacturing (10.7%), and construction (7.4%). Consumption expenditure, which is the largest component of GDP explaining 58% of GDP, […]

The article Big Indian Corporates Are Not Investing Despite Series Of Govt Incentives appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

Partnership with Korea Green Foundation and FIRA will help restore seagrass meadows off Geoje Island, supporting marine biodiversity, blue carbon habitats and local communities

BUSAN, SOUTH KOREA – Media OutReach Newswire – 11 June 2026 – DP World has launched its first global seagrass restoration initiative on Geoje Island in South Korea, supporting efforts to restore 2.4 hectares of coastal marine habitat over the next four years and enhancing marine biodiversity.

The initiative in South Korea was formalised through a Memorandum of Understanding (MOU) between DP World, Korea Green Foundation and the Korea Fisheries Resources Agency (FIRA). The MOU establishes a long-term collaboration focused on ongoing monitoring of seagrass meadows, the development of restoration approaches informed by scientific research, and continued cooperation between public, private and community stakeholders in the coastal waters of Dadae Village on Geoje Island.

The partnership was launched on World Ocean Day, with representatives from DP World, Korea Green Foundation, FIRA and the local fishing community helping to transplant approximately 6,000 seagrass shoots along the Dadae coastline. The project aims to restore up to 2.4 hectares of seabed over the next four years and is expected to benefit local communities by supporting marine productivity and fish catch potential.

Glen Hilton, CEO & Managing Director, Asia Pacific, DP World, said: “Healthy oceans are essential to sustainable trade and thriving coastal communities. By restoring seagrass meadows in Geoje, we are helping protect one of nature’s most effective blue-carbon ecosystems while supporting marine biodiversity and local livelihoods. Together with the Korea Green Foundation and FIRA, we are supporting research, restoration and community engagement efforts that can deepen our understanding of these valuable marine ecosystems to strengthen the resilience of our coasts for future generations.”

Jung Tae-yong, Secretary General, Korea Green Foundation, said: “Seagrass meadows are an invaluable presence in supporting coastal ecosystems. They store carbon, help prevent coastal erosion and act as a breakwater for the ecosystem. This project goes beyond simple environmental protection, bringing together businesses, public institutions and local communities to expand practical marine-conservation models and public awareness of the importance of climate action.”

Seagrass meadows provide habitat for a wide range of marine species and contribute to the health of coastal ecosystems. They are recognised as an important blue carbon ecosystem because of their ability to absorb and store carbon naturally, making their protection and restoration an area of growing interest among researchers and conservation organisations.

The project will include ongoing monitoring and evaluation activities led by FIRA, alongside community engagement initiatives designed to support long-term stewardship of the restoration site. The partners also intend to build on the Geoje initiative through continued research, community engagement and public awareness activities that support understanding of marine ecosystems and coastal conservation.

This initiative builds on DP World’s broader sustainability efforts to support environmental stewardship and community resilience across Asia Pacific. From our flagship mangrove ecosystem restoration programme in Indonesia — aligned with DP World’s global commitment to restore and protect 280 hectares of mangroves by 2030 — to watershed rehabilitation initiatives in the Philippines and coral reef restoration in Australia, these efforts reflect a regional commitment to protecting the natural environments that are most critical to local communities.

Through partnerships with governments, non-governmental organisations and local communities, DP World continues to explore practical ways to contribute to the long-term sustainability of the environments in which it operates.
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DP World

DP World is reshaping the future of global trade to improve lives everywhere. Operating across six continents with a team of over 125,000 employees, we combine global infrastructure and local expertise to deliver seamless supply chain solutions. From Ports and Terminals to Marine Services, Logistics and Technology, we leverage innovation to create better ways to trade, minimising disruptions from the factory floor to the customer’s door.

In Asia Pacific, DP World employs over 11,000 people across 22 geographies. We operate 17 ports and terminals, complemented by a comprehensive suite of end-to-end supply chain solutions – to connect the region to the rest of the world.

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The Reserve Bank of India’s June package centres on Foreign Currency Non-Resident Bank deposits, or FCNR deposits, a long-used channel through which overseas citizens place foreign-currency funds with banks. The decisive shift lies in the way the central bank has structured the swap window and permitted banks to use incentives, including leverage, to make the deposits more attractive to wealthy overseas savers.

Under the scheme, banks can mobilise fresh three- to five-year FCNR deposits between 8 June and 30 September 2026 and swap the dollars with the RBI. The facility effectively removes the usual hedging burden that makes such deposits expensive for banks, as the central bank absorbs the foreign-exchange cost. The operational window will remain available until mid-October for eligible deposits raised during the mobilisation period.

The change has revived memories of 2013, when a similar facility helped banks raise about $34 billion during a period of sharp rupee weakness. This time, estimates from market participants range from about $20 billion to nearly $50 billion, depending on deposit pricing, rupee expectations, global interest rates and the ability of banks to market the product aggressively in the Gulf, North America, Britain and other diaspora-heavy markets.

Punjab National Bank chief executive Ashok Chandra has said banks could collectively raise $35 billion to $40 billion, with his own institution aiming for about $2.5 billion to $3 billion. Other lenders, including Canara Bank, Federal Bank and Indian Bank, are expected to compete for deposits by offering returns that can compare favourably with low-risk dollar assets, particularly once the swap benefit is factored into their pricing.

The subtle but consequential part of the circular is the permission for banks to offer leverage to depositors. That means eligible clients may be able to borrow abroad and place the proceeds into FCNR deposits, amplifying inflows beyond what would have arrived through ordinary savings alone. Market analysts see this as the feature that could lift the scheme from a modest stabilisation tool into a sizeable capital-flow channel.

The RBI has paired the deposit push with broader measures designed to deepen debt-market participation and ease pressure on the currency. These include expanding access to government securities, relaxing certain concentration limits, and improving the investment framework for foreign portfolio investors. The package comes after the rupee touched record lows, weighed down by elevated crude prices, portfolio outflows and a stronger dollar environment.

The immediate market reaction has been visible in government bonds. Short-end yields have fallen as banks and overseas investors reassessed the likely liquidity impact of dollar inflows converted into rupees. The two- to five-year segment has drawn stronger demand, while the curve has steepened as longer tenors remain more exposed to global rate movements and fiscal supply concerns.

For banks, the economics are straightforward. Without central bank support, hedging a multi-year dollar liability into rupees can wipe out much of the advantage of raising FCNR deposits. With the RBI taking that cost away, lenders can offer higher headline rates to overseas depositors while still obtaining rupee liquidity at competitive levels. The exemption from reserve requirements on eligible deposits further improves the economics by freeing banks from maintaining cash reserve ratio and statutory liquidity ratio buffers on those funds.

The policy also serves a macroeconomic purpose. Large dollar inflows can strengthen reserves, cushion the balance of payments and reduce the need for more aggressive currency-market intervention. They can also help offset pressure from oil import costs and equity-market withdrawals, both of which have weighed on external sentiment during the current financial year.

Yet the scheme carries risks. Leveraged deposits can be sensitive to interest-rate differentials and currency expectations. If global yields move sharply higher or confidence in the rupee weakens, flows may become less durable. The one-year lock-in reduces early withdrawal risk, but it does not fully eliminate rollover pressure once deposits mature. Banks also need to manage concentration risk, especially if a large share of funds comes from a narrow group of depositors or geographies.

Visitor arrivals from the six GCC countries reached 55,924 in 2025, up 25.2 per cent from the previous year, outpacing Japan’s wider inbound tourism growth. The increase came as total international arrivals hit 42.683 million, a record annual figure and a 15.8 per cent rise from 2024, when Japan had already surpassed its pre-pandemic high.

The Gulf performance remains small in absolute numbers compared with Japan’s biggest source markets in East Asia, North America and Europe, but the pace of growth has drawn attention from travel operators because GCC visitors tend to favour premium hotels, private tours, family travel, shopping, wellness experiences and multi-city itineraries. Demand has been supported by stronger aviation links through Dubai, Abu Dhabi and Doha, easier visa processes for several categories of travellers, and sustained interest in Japan’s seasonal attractions.

The rise also reflects a broader shift in Gulf outbound travel. Travellers from the UAE, Saudi Arabia, Qatar, Kuwait, Bahrain and Oman are looking beyond traditional European summer destinations, especially as Japan promotes cooler regions, countryside routes and immersive cultural experiences. Hokkaido has gained visibility among Gulf families seeking milder summer weather, scenic drives and nature resorts, while Tokyo, Kyoto and Osaka continue to dominate first-time travel plans.

Japan’s appeal has been reinforced by the weak yen, which has made shopping, dining and accommodation more attractive for visitors with dollar-linked Gulf currencies. Luxury retail, department stores, theme parks, Michelin-listed restaurants, ryokan stays and private guides have benefited from the spending power of long-haul visitors. Travel agencies across the Gulf have also reported growing demand for tailor-made trips covering cherry blossom viewing, autumn foliage, ski resorts and Japanese pop culture.

Tourism spending has become a major pillar of Japan’s post-pandemic services economy. International visitor expenditure rose to about ¥9.5 trillion in 2025, up 16.4 per cent from the previous year, while average spending per visitor was roughly ¥229,000. The figures underline why Japan is targeting higher-value tourism rather than only volume growth, especially as pressure mounts on crowded destinations such as Kyoto, Mount Fuji viewing spots and central Tokyo districts.

Japan’s national tourism strategy aims to draw 60 million visitors annually by 2030, but policymakers and local authorities are increasingly balancing that target with concerns over overtourism. Measures have included crowd controls, higher accommodation taxes in some areas, visitor-management rules at popular sites and campaigns encouraging travellers to explore regional destinations. For GCC visitors, that strategy fits with demand for quieter, curated experiences outside the standard Golden Route of Tokyo, Kyoto and Osaka.

JNTO’s Dubai office has intensified destination marketing across the Gulf, with campaigns highlighting Hokkaido, Setouchi and other regions suited to repeat visitors. Promotional activity has focused on travel trade partners, digital media, luxury travel networks and family-oriented itineraries, reflecting the region’s preference for planned holidays with strong service standards. Japan’s participation in major Gulf travel events has also helped place the country more firmly in tour operators’ premium Asia portfolios.

Air connectivity remains a decisive factor. Gulf hubs provide one-stop access to several Japanese gateways for travellers from across the region, while Emirates, Etihad Airways and Qatar Airways have helped keep Japan visible in high-yield leisure and business travel channels. Doha, Dubai and Abu Dhabi also act as connecting points for travellers from wider Middle East markets, strengthening Japan’s ability to attract visitors beyond its traditional Asian feeder markets.

Visa facilitation has added momentum. UAE nationals continue to benefit from visa-free short stays, while Qatari citizens have access to similar arrangements after completing required registration. Travellers from Saudi Arabia and other GCC states have increasingly been able to use electronic visa channels for tourism, reducing friction for families and first-time visitors. Expatriate residents in Gulf countries remain subject to nationality-based rules, but online processing has improved access for many applicants.