Liberalizing the nuclear energy sector

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WHAT WE’RE TRACKING TODAY

THIS MORNING: RBI defends inflation-forecast framework + IMF reclassifies India’s currency framework

Good morning, friends. We’re closing the week with a busy issue, covering investment pledges in data centers, clean energy and manufacturing.

IN THIS MORNING’S ISSUE- The Modi government has rolled out a USD 815 mn scheme to counter China’s export curbs, and it plans to open the nuclear energy sector to private players.

ALSO- Digital Connexion has pledged USD 11 bn for data centers while KKR-backed Serentica is lining up USD 8 bn for its next wave of clean energy investments.

AND- The RBI defends its inflation forecasts; the IMF has reclassified India’s exchange-rate framework, and Berger Paints, JK Cement, and Aditum are pushing momentum across the India-UAE corridor.

WATCH THIS SPACE-

#1- The Reserve Bank of India (RBI) sees no “systematic bias” in its inflation projection, arguing its use of a mix of modelling approaches, historical patterns, and expert assessments to forecast price movements, PTI reports, citing Deputy Governor Poonam Gupta. Forecast deviations are a global phenomenon and not unique to India, she said, adding that the RBI treats external evaluations of its projections seriously.

Backdrop: Gupta’s comments follow growing scrutiny over the RBI’s inflation forecasts after multiple projection errors this year. The central bank’s first-quarter estimate overshot actual inflation by 0.7 percentage points, the biggest gap in nearly six years. Economists have suggested that repeated overestimation could delay rate-cut decisions.

MEANWHILE- The RBI is predicted to cut its key interest rate by 25 bps to 5.25% at the conclusion of its monetary policy meeting on 5 December, according to a Reuters poll of 80 economists. Sixty-two respondents forecast a reduction after consumer inflation fell to a record low of 0.25% in October.

#2- The International Monetary Fund (IMF) has reclassified India’s de facto exchange-rate system to a “crawl-like arrangement” from “stabilized” following central bank interventions to stabilize currency volatility through 2025, according to the IMF’s 2025 Article IV Staff Report. The shift reflects greater two-way movement in the INR, which has weakened about 4% so far this year, and touched a record low of INR 89.49 per USD on 21 November.

Under the IMF methodology, a crawl-like regime applies when a currency remains within a narrow band of 2 percentage points relative to a statistically identified trend for at least six months and exchange rate cannot be considered floating. The IMF said there is potential for additional exchange-rate flexibility, although the central bank continues to step in to limit sharp volatility.

#3- Gurugram-based renewable-power developer Serentica Renewables, backed by private equity firm KKR, could raise up to USD 8 bn over the next five years to fund acquisitions and expand capacity as it plans to scale its clean-energy portfolio to 17 GW by 2030, Reuters reports. The first USD 3 bn phase of funding is fully secured, while about USD 2 bn for the next phase is partially financed and the rest of the amount is under negotiation. The firm is also assessing 3-5 GW of renewable assets currently up for sale in India, as per the newswire.

ICYMI- India’s renewable energy sector has clocked USD 18 bn in investments from January-September this year, according to Hindu Businessline. The sector recorded USD 10 bn investments in 2024 and USD 13.2 bn in 2023.

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THE BIG STORY ABROAD-

All eyes are still on the Hong Kong fire, which has so far killed 94 people, with scores still missing, and the White House shooting, which killed a National Guard member. (Reuters | Wall Street Journal | New York Times)

Unsafe scaffolding and foam materials used during maintenance work at the residential building in Hong Kong that caught fire might be the culprit behind the rapid spreading of the fire, police have alleged. Several employees and consultants at the construction firm that built the building have been arrested. (Guardian | Reuters | NYT)

ALSO- A controversial new 1.1km oil pipeline agreement that will link Canada’s Alberta oil sands to the Pacific coast has already received tons of backlash from environmentalist groups and other Canadian cabinet members, with Culture Minister and former Environment Minister Steven Guilbeault resigning on the news.

The pipeline will likely impact indigenous communities in the region and could have potential environmental repercussions, critics say. The megaproject comes as Canada looks to shift its economy away from an overreliance on the US economy. Canada supplies around 60% of US oil imports. (Financial Times | Guardian | NYT)

CIRCLE YOUR CALENDAR-

Telangana Rising 2047 will take place on 8 and 9 December in Hyderabad. Leading industrialists and international delegates are expected to attend the two-day investment summit.

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.

Government launches USD 817 mn scheme to promote magnet manufacturing in India

The Indian cabinet has approved a rare-earth permanent magnet manufacturing program with an outlay of INR 72.8 bn (USD 815.7 mn) to cut dependence on imports of materials essential to electric vehicles, aerospace, defense, and renewable energy, Information Minister Ashwini Vaishnaw said in a press briefing. Domestic demand for these high-strength magnets is expected to double by 2030, yet India currently relies almost entirely on overseas suppliers, importing 53k metric tons in FY 25.

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The initiative will support new plants with a combined capacity of 6k metric tons annually, allocated to five companies through global competitive bidding each capped at 1.2k metric tons. The program will “practically reduce import dependence to zero” once facilities are operational, bolstering India’s supply-chain resilience in strategic sectors, Vaishnaw said.

Market reactions: Both public and private companies across the electronics, automotive, and steel sectors have expressed interest in the scheme. Incentives will be awarded through a transparent, competitive process, allowing winning bidders to choose plant locations.

The automobile industry welcomed the approval as a critical step. The program will spur investment in advanced materials and better position India in global EV and clean-energy value chains, Hindu reports, citing Vikrampati Singhania, President of the Automotive Component Manufacturers Association. Renault Group India CEO Stéphane Deblaise called the move “pivotal” to accelerate growth for automakers and suppliers as well as improve long-term competitiveness.

Contextualizing the supply squeeze: China’s dominance in the rare-earth supply chain has long exposed India to disruptions. Beijing has periodically tightened export controls on rare-earth elements, disrupting manufacturing, particularly in the automotive sector, where companies had to cut production targets due to the shortages. The government is promoting domestic manufacturing through policy initiatives while also bolstering supplies from other countries.

Modi signals opening of India’s civil nuclear sector to private players

Liberalizing the nuclear sector: The Narendra Modi government is planning to open up the country’s nuclear energy sector to private investment, mirroring the liberalization reforms recently undertaken in the space sector, Prime Minister Modi said in a speech at the virtual inauguration of satellite-rocket manufacturer Skyroot’s Infinity Campus in Hyderabad.

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The details: The reforms are expected to create avenues for private players in small modular reactors, advanced reactors, and nuclear innovation, and is a critical step for bolstering India’s energy security, Modi said.

The state-run Nuclear Power Corporation of India is the only entity currently generating nuclear power in India, with 26 nuclear reactors.

New law in the cards: The government will introduce new legislation that seeks to amend the pivotal Atomic Energy Act of 1962 to fundamentally restructure India's civil nuclear sector to pave the way for private sector participation. The legislation will be presented to parliament in the upcoming winter session, starting on 1 December. While amendments to the other nuclear energy law are also under consideration, they will not be introduced during the upcoming session.

Eyeing targets: This legislative shift is critically timed to support India's ambitious objective of achieving at least 100 GW of nuclear energy generation by 2047. Industry analysts have consistently noted that reliance solely on state-owned entities is insufficient to meet this high capacity target, as per The Print.

Brookfield-Reliance JV unveils USD 11 bn push into Andhra’s AI infra

Massive outlay for AI-ready infrastructure: Mumbai-based Digital Connexion, a joint venture between Brookfield Asset Management, Reliance Industries, and US-based Digital Realty, said it will invest approximately INR 980 bn (USD 11 bn) by 2030 to build 1 GW of AI-native data centers in the southern state of Andhra Pradesh, as per a press release. Digital Connexion has inked an MoU with the Andhra Pradesh Economic Development Board towards this end.

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Purpose: The digital infrastructure company has a goal to support hyperscale and enterprise AI workloads with high rack density, robust substations, redundant power feeds, and carrier-neutral connectivity.

Expansion context: The project follows a separate USD 15 bn commitment by Google last month for an AI hub in the same region, signaling a broader expansion of Andhra Pradesh's digital infrastructure. Digital Connexion has already established a campus in Chennai and begun building another in Mumbai’s Chandivali area, underscoring its ambition to meet demand for low-latency AI workloads across India.

India is in the midst of a large data center investment cycle. Tata Consultancy Services announced last week a USD 2 bn investment with TPG, while Adani Group is developing data centers in Andhra Pradesh through a USD 15 bn partnership with Google. Reliance Industries has also teamed up with Meta and Google to build 1 GW of capacity nationwide.

Sector revenues are set to rise alongside this buildout — data center operators will generate around USD 2.4 bn annually by FY 28, growing 20-22% a year, as per Crisil data.

ENBD outlines post investment strategy for RBL Bank, expresses faith in Indian economy and regulators

RBL Bank stake agreement moves forward: With its 3 bn acquisition of RBL Bank, Emirates NBD (ENBD) views India as a core strategic market for its long-term growth, as the country’s fast growing economy and rising credit demand requires stronger capitalized banks, group CEO Shayne Nelson told Economic Times in an interview.

REMEMBER- ENBD is acquiring a majority stake in Mumbai-based private lender RBL Bank, facilitated by special regulatory approvals.

Regulatory context: The Reserve Bank of India’s (RBI) willingness to permit a well-capitalized foreign bank to acquire a majority in an Indian private lender signals confidence in the country’s banking system, Nelson said. RBI’s stance offers long-term clarity for foreign players to make major investments in the Indian banking system, he added. ENBD is keen to expand its stake to 74% if regulators permit going beyond the existing cap.

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India’s growing economy will require substantial new capital, and unlike China’s state-funded model, India will depend more on domestic and foreign private-sector investment to support credit demand, Nelson told the daily.

Why RBL? ENBD evaluated other Indian banks but chose RBL because the transaction structure allowed meaningful control, whereas others like Yes Bank and IDBI Bank would not support majority ownership under their existing shareholder frameworks. The regulatory openness to a majority stake acquisition, combined with the compelling India growth narrative and institutional strength, was the deciding factor enabling ENBD to make a long-term commitment, Nelson told the daily.

The takeover gives ENBD access to RBL’s branch network to tap a large corporate client base and better serve its existing customers.

Structure + timeline: The lender will merge its three existing branches in India — mainly serving crossborder transactions — into RBL, which would then operate as a subsidiary of ENBD as per India’s regulatory framework. Emirates NBD will comply with the 26% cap on voting rights while retaining economic control through consolidation. The transaction is expected to close by end-1Q or early 2Q 2026, subject to regulatory approvals, Nelson told the news outlet.

Strategic focus: The investment will increase RBL’s capital base from USD 1.8 bn to about USD 4.8 bn, which will support an expanded lending book of up to USD 25 bn.Following the merger of branches, the bank will prioritize corporate banking, SMEs, agriculture, wealth management, and investment banking, leveraging ENBD’s existing client base and a strong India-GCC remittance corridor, which Nelson said accounts for around half of remittance flows to India. The lender has applied for a merchant banking license and plans to expand its presence at Gujarat’s GIFT City.

Several Indian + UAE firms announce cross border investments

It’s a big day for the UAE-India investment corridor, with plenty of funding pledged to support Indian firms expanding in the Middle East through UAE, several manufacturers expanding their footprint in the country, and more investments from the UAE into India.

INDUSTRIALS-

#1- USD 250 mn fund for Indian brands expanding via Dubai: The India Global Forum (IGF) unveiled a USD 250 mn fund to help high-potential Indian consumer and industrial brands expand internationally using Dubai as base for scaling across MENA and Europe, according to a statement. The fund is anchored by Ved Family Office and Indian investment firm Ananta Capital.

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The fund and accelerator will focus on Indian companies across sectors like food and beverage, consumer brands, chemicals, automotive, advanced manufacturing and industrial products. The IGF will partner with DP World to use its logistics network for market-entry support.

#2- Berger Paints Emirates, a subsidiary of Mumbai-based AsianPaints, plans to set up a second paint manufacturing facility at Khalifa Economic Zones Abu Dhabi in the UAE with an investment of AED 140 mn (INR 3.4 bn), according to a statement (pdf). The plant will span 100k sqm and is expected to have an initial paint production capacity of 55.8k kiloliters per year.

ALSO- JK Cement is setting up a new AED 6 mn manufacturing facility within the Ras Al Khaimah Economic Zone (RAKEZ) to produce advanced construction chemicals and additives, as per a press release.

PRIVATE CREDIT-

Dubai-based Aditum Investment Management plans to raise up to USD 50 mn to fund fintech Wizz Financial’s gold-backed private credit strategy in India as part of its expansion, The National reports. The first USD 25 mn tranche is set to close by 10 December, with a second due in early 2026.

Aditum, which manages USD 9.68 bn across the Gulf, is targeting regional institutional and retail investors for the fundraise. Wizz Financial, backed by Abu Dhabi Capital Group, operates 300 Unimoni branches, which functions as a financial services network offering foreign exchange, remittances, payments and small-ticket credit, acting as a local financial hub for rural customers.

MEANWHILE- Tata Group’s watchmaking arm Titan Company entered the UAE's high-end timepiece market by launching its premium and luxury watch collections in Dubai with distributor Rivoli, as per a press release.

AGREEMENT ACROSS THE CORRIDOR-

FICCI, Rakez sign trade MoU: The Federation of Indian Chambers of Commerce and Industry, India’s leading business association, and the UAE’s Ras Al Khaimah Economic Zone (Rakez) have signed an MoU to promote trade and investment between India and the UAE, according to a post on X.

The partnership aims to support Indian companies seeking expansion or manufacturing ventures in Rakez through investment facilitation, policy dialogue, and business delegations across the manufacturing, chemicals, food processing and automotive sectors.

E-commerce major Meesho eyes INR 500 bn valuation in IPO

Bengaluru-based e-commerce platform Meesho has outlined plans for a listing, offering consists of a fresh issue amounting to INR 42.5 bn and an offer for the sale of 175.7 mn equity shares, according to its draft regulatory filing. The firm is targeting an INR 500 bn (USD 5.6 bn) valuation. Meesho is India’s largest e-commerce platform, with 198.8 mn users and 1.83 bn order transactions in FY 2025, as per Business Standard.

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Meesho’s USP: Founded in 2015, Meesho runs an asset-light, zero-commission marketplace for small sellers. Its core advantage lies in low-cost and high-volume transactions, processing roughly 5 mn orders daily.

Advisors- Bookrunners for the issue include Kotak Mahindra Capital, JP Morgan India, Morgan Stanley India, Axis Capital, and Citigroup Global Markets India, while Kfin Technologies is the registrar.

Use of proceeds: Meesho plans to invest USD 160 mn in cloud infrastructure, USD 50 mn for AI and technology hiring, and USD 110 mn for marketing and brand initiatives, with the remainder for acquisitions and corporate purposes.

Apple challenges India’s anti trust law; Modi inaugurates Safran’s factory

MANUFACTURING-

Prime Minister Narendra Modi has inaugurated a new aircraft engine maintenance, repair, and overhaul (MRO) facility set up by France-based aerospace group Safran in Hyderabad, Business Standard reports. The center is located at the GMR Aerospace and Industrial Park in Hyderabad and spans 45k sqm. The project involved an investment of USD 156 mn and will service LEAP engines that power Airbus A320neo and Boeing 737 MAX aircraft. Safran expects the site to handle up to 300 engines annually by 2035, the news outlet added.

Safran is also open to setting up a final assembly line for M88 fighter jet engines in India, contingent on additional orders for Rafale aircraft from the Indian airforce, Business Standard reports, citing CEO Olivier Andries.

DISPUTE WATCH-

Apple has challenged India’s competition law, which allows the country to base penalties for abuse of market dominance on a company’s worldwide turnover instead of revenue from the specific Indian subsidiary, Reuters reports, citing court filings. Apple argues that applying global turnover is “arbitrary” and contradicts a ruling by India’s supreme court, which held that penalties should be tied to relevant turnover associated with the product under investigation.

ENERGY-

Kolkata-based solar module manufacturer Vikram Solar has commissioned a 5 GW advanced module manufacturing facility at Vallam in the southern Indian state of Tamil Nadu, taking its total module capacity to 9.5 GW per year, according to a stock-exchange filing.

Modules from the facility will be supplied to customers across India, serving utility-scale developers, commercial and industrial buyers, and distributed-generation projects as the country accelerates its renewable-energy buildout.

PRIVATE CREDIT-

Motilal planning USD 336 mn private credit fund: Mumbai-based Motilal Oswal Alternate Investment Advisors has sought approval from the Securities and Exchange Board of India to raise USD 336 mn for its first private credit fund, with plans to begin fundraising in 2026, Bloomberg reports. The vehicle will target mid-sized companies preparing for listing over the next three years, focusing on growth capital and special situations such as the crunch triggered by US tariffs, head of private credit at Motilal Rakshat Kapoor told Bloomberg.

AUTO-

US EV maker Tesla is building an EV-charging ecosystem in India to strengthen long-term sales momentum, Economic Times reports, citing Tesla’s India General Manager Sharad Agarwal. Tesla has delivered 109 vehicles in India since it began local deliveries in September, which marked its 50th global market entry earlier this year, the news outlet added.

Infrastructure roadmap: Tesla is designing its charging rollout around customer touchpoints, including homes, workplaces, malls, and hotels to gradually cover major cities over time, Agarwal said.

US banks are in for a USD 2.6 tn capital boost from upcoming reforms, as global rivals fear growing irrelevance

What will the impact of the upcoming loosening of regulations for US banks be for the rest of the world? That’s the topic making the rounds in the business press as banks across the EU and the UK begin to call on regulators to also loosen strict regulations and bring down high capital buffers in fear of losing more market share to US banks.

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What’s happening? Fed’s vice chair of supervision Michelle Bowman is leading reforms that will lower leverage ratios to as low as 3.5%, from 5% earlier, and implement a looser form of Basel III capital level requirements and ease annual stress tests. The reforms are expected to free up some USD 2.6 tn in lending capacity for US banks, according to a Jeffries note picked up by Bloomberg and the Financial Times, which wrote a big read on the subject.

The rolling back of crisis-era capital requirements is celebrated by some and fueling concerns for others, with critics fearing it could reduce banks’ resilience to systemic shocks, especially as it comes only two years after the collapse of several mid-sized US banks, including Silicon Valley Bank and Signature Bank.

Still, the move is expected to give Wall Street far more room to expand credit, trading, and balance-sheet activity, as well as bolster banks’ activity in the USD 29 tn US Treasury market. It would immediately liberate as much as USD 140 bn in capital for US banks, potentially boosting loan growth, buybacks, and dividends, Alvarez & Marsal said in a report picked up by the FT.

It will be good news for capital markets + investment activity: The move is expected to “drive a material uplift through 2026” in bank activity — from lending to M&A and tech investment.

But bad news for global rivals. European and UK banks already face stricter capital regimes and say the upcoming shift risks entrenching Wall Street dominance. One senior EU executive told FT the divergence is “really bad news” for competitiveness, as fears mount over the loss of more market share to US banks.

Concerns have even prompted Swiss bank UBS to mull moving its headquarters to the US as it awaits a decision from the government that could hike its capital requirements by USD 26 bn, a move that aimed to toughen its stance on the lender after the Credit Suisse meltdown.

To put things in perspective: US banks last year occupied the top five spots for investment-banking revenue worldwide, and accounted for seven of the top 10, according to Dealogic. And the top 13 US banks are already estimated to have about USD 200 bn of excess capital above their regulatory minimums, setting them up for massive windfalls from the upcoming reforms.

So far, Europe seems unlikely to follow. The European Central Bank’s top supervisor, Claudia Buch, said she has no plans to cut capital requirements, arguing “better-capitalized banks are better able to lend, particularly in times of stress.”

As for the UK, the Bank of England is reviewing its leverage regime and may adopt partial relief. Alvarez & Marsal estimate that if the UK mirrors the US, British banks’ capital requirements could fall by around 8%. However, analysts expect the UK to deliver only “half” the relief seen in the US.

MARKETS THIS MORNING-

Asian markets are mostly in the red, with South Korea’s Kospi leading losses with a 1.1% decline. Japan’s Nikkei, meanwhile, is down a marginal 0.1%, and Hong Kong’s Hang Seng is down 0.5%. China’s CSI 300 is also down 0.2%.

ADX	9,705	-0.3% (YTD: +3.0%)
DFM	5,815	+0.1% (YTD: +12.7%)
Nasdaq Dubai UAE20	4,575	-0.6% (YTD: +9.9%)
USD : AED CBUAE	Buy 3.67	Sell 3.67
EIBOR	3.8% o/n	3.5% 1 yr
TASI	10,641	+0.1% (YTD: -11.6%)
EGX30	40,039	+1.3% (YTD: +34.6%)
S&P 500	6,813	+0.7% (YTD: +15.8%)
FTSE 100	9,694	+0.0% (YTD: +17.4%)
Euro Stoxx 50	5,653	-0.0% (YTD: +14.6%)
Brent crude	USD 63.34	+0.3%
Natural gas (Nymex)	USD 4.63	+1.6%
Gold	USD 4,195.80	-0.2%
BTC	USD 91,462	+1% (YTD: -3.2%)
Chimera JP Morgan UAE Bond UCITS ETF	AED 3.8	+1.3 (YTD: +9.1%)
S&P MENA Bond & Sukuk	152.36	-0.0% (YTD: +8.9%)
VIX (Volatility Index)	17.21	+0.1% (YTD: -0.8%)

THE OPENING BELL-

The S&P BSE Sensex opened in Green reaching 85,782 in early trading, up 0.1%. The index is up 9.3% YTD.

Over on the NIFTY 50, the index also opened in Green reaching 26,235 in the morning, up 0.7%. The index is up 10.5% YTD.

India-UAE CEPA panel discusses regulatory alignment, data sharing

India and the UAE reviewed market access, data-sharing, gold import quotas, and anti-dumping issues at a Joint Committee under the India-UAE Comprehensive Economic Partnership Agreement (CEPA), India’s Commerce and Industry ministry said in a statement. New Delhi outlined its move to set the gold tariff rate quota via competitive bidding, and the two sides discussed regulatory cooperation in pharma and the faster resolution of certificates of origin.

CALENDAR

DECEMBER

1-19 December (Monday-Friday): Winter Session of Indian Parliament, New Delhi.

2 December (Tuesday): National Manufacturing Summit, New Delhi.

3-7 December (Wednesday-Sunday): ENGIMACH Automation & Manufacturing Technology Expo, Helipad Exhibition Center (Gandhinagar), Gujarat.

5 December: India-Russia Bilateral Summit (Russian President Vladimir Putin’s India Visit), New Delhi.

8-9 December (Monday-Tuesday): Telangana Rising 2047, Hyderabad, Telangana.

11 December (Thursday), FICCI Commercial Real Estate Conclave, Taj MG Road, Bengaluru.

2026

JANUARY

1 January (Thursday): India assumes Presidency of BRICS.

19-20 January (Monday-Tuesday): International Crop Science Conference and Exhibition 2026, Le Meridien Conference Center, Dubai.

26 January (Monday): Republic Day.

27 January (Tuesday): India-EU Summit (To potentially finalize FTA), New Delhi.

27-30 January (Tuesday-Friday): India Energy Week 2026, ONGC Advanced Training Institute, Goa.

30 January-1 February (Friday-Sunday):India Agri Expo 2026, Ludhiana Exhibition Center, Punjab.

31 January (Saturday): Commencement of Budget Session 2026, Parliament of India, New Delhi.

FEBRUARY

1 February (Sunday): Union Budget 2026-27, Parliament of India, New Delhi.

3-6 February (Tuesday-Friday): ChemTECH World Expo 2026, Jio World Convention Center, Mumbai.

9-10 February (Monday-Tuesday): Pune International Business Summit (PIBS), SL Kirloskar Convention Center, JW Marriott, Pune.

14-18 February (Saturday-Wednesday): IHGF Delhi Fair(Spring) 2026, New Delhi.

19-20 February (Thursday-Friday): India-AI Impact Summit, Bharat Mandapam, New Delhi.

25 February (Wednesday): World Sustainable Development Summit, Taj Palace, New Delhi.

MARCH

4 March (Wednesday): Holi.

12 March (Thursday): ET Entrepreneur Summit & Awards 2026, Bengaluru.

19-22 March (Thursday-Sunday): Bharat Urja Manthan - Global Energy Conclave, New Delhi.

20 March (Friday): Eid Ul-Fitr.

23-25 March (Monday-Wednesday): Indiasoft 2026: International IT Exhibition & Conference, New Delhi

23-25 March (Monday-Wednesday): Smart Cities Expo, Bharat Mandapam, New Delhi.

23-25 March (Monday-Wednesday): PLASTIWORLD India 2026, Jio World Convention Center, Mumbai.

31 March (Tuesday): Mahavir Jayanti.

Signposted to happen sometime in March 2026

Election Commission of India is expected to announce polling dates for elections in the states of Tamil Nadu, Kerala, West Bengal, Assam, and the union territory, Puducherry.

APRIL

3 April (Friday): Good Friday.

23-25 April (Thursday-Saturday):Rail & Metro Technology Conclave 2025, Bharat Mandapam, New Delhi.

29 April-2 May (Wednesday-Saturday): Bharat Buildcon 2026, Yashobhoomi, Dwarka, Delhi.

7-10 April (Tuesday-Friday), India Rubber Expo 2026, ITPO, Pragati Maidan, Delhi.

MAY

1 May (Friday): Buddha Purnima.

26 May (Tuesday): Eid Ul-Adha.

JUNE

24-25 June (Wednesday-Thursday): India Homeland Security Expo 2026, Bharat Mandapam, Pragati Maidan, New Delhi.

26 June (Friday): Muharram.

Signposted to happen sometime in 1H 2026:

Signing of India-Qatar Free Trade Agreement (Details yet to be announced).
India-EU Trade and Technology Council Ministerial Meeting 2026, Brussels, Belgium.

AUGUST

15 August (Saturday): Independence Day.

26 August (Wednesday): Prophet Mohammad’s Birthday.

OCTOBER

2 October (Friday): Gandhi Jayanti (Mahatma Gandhi’s Birthday).

20 October (Tuesday): Dussehra.

NOVEMBER

8 November (Sunday): Gandhi Jayanti (Mahatma Gandhi’s Birthday).

24 November (Tuesday): Guru Nanak Jayanti.

DECEMBER

8-11 December (Tuesday-Thursday), Expand North Star 2026, Dubai.

25 December (Friday): Christmas Day.

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