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Corporate News - August 2026
ECONOMY
Cabinet Approves C3,030 Crore BHAVYA-Rasayan Scheme for Three Chemical Parks
The Union Cabinet has approved the BHAVYA-Rasayan (Bharat Audyogik Vikas Yojana Rasayan) scheme with a C3,030 crore outlay to establish three world-class chemical parks across India, aimed at strengthening the country's chemical manufacturing ecosystem. Under the five-year scheme, the Centre will provide grants of up to C1,000 crore for each park, subject to a minimum contribution of C500 crore from the respective state government. The parks, to be developed through a challenge-based selection process, will offer plug-and-play infrastructure, including common effluent treatment plants, logistics facilities, utilities and hazardous waste management systems. The initiative seeks to attract domestic and foreign investment, reduce logistics costs, enhance environmental compliance and improve India's competitiveness in global chemical value chains. As chemicals are critical inputs for sectors such as pharmaceuticals, automobiles, textiles and electronics, the scheme is expected to boost industrial growth, create employment and support the country's long-term manufacturing ambitions under the Viksit Bharat 2047 vision.
India Continues Trade Talks as U.S. Imposes New Section 301 Tariffs
The United States has imposed a 10% additional tariff on a broad range of Indian exports under Section 301 of the Trade Act, citing concerns over the enforcement of measures against goods produced through forced labour. India was placed in the lower tariff tier—below the 12.5% rate applied to several other economies—following recent policy measures, including a ban on imports made using forced labour. Around 45% of India's exports to the U.S., including pharmaceuticals, smartphones, steel, aluminium and auto parts, remain exempt from the new duties, while the remaining exports, particularly textiles and apparel, will face the additional levy. Despite the tariffs, the Government of India has reaffirmed its commitment to advancing negotiations for a bilateral trade agreement with the U.S. The development underscores the growing integration of labour standards, supply chain governance and trade policy, with significant implications for Indian exporters and global businesses operating across international markets.
MERGERS & ACQUISITIONS
Aditya Birla to Acquire Shell's Sprng Energy in $1.8 Billion Deal
Aditya Birla Renewables Ltd. (ABRen), the renewable energy arm of Grasim Industries, has agreed to acquire Shell's India-based renewable energy platform, Sprng Energy, for an enterprise value of $1.8 billion, marking one of the largest clean energy acquisitions in India's history. The acquisition will add approximately 5 GW of operational and under-construction renewable capacity, expanding ABRen's total portfolio to 9.3 GW and strengthening its position in India's fast-growing renewable energy market. The transaction will be financed through a combination of debt, equity from Grasim Industries, and funds managed by Global Infrastructure Partners, a BlackRock unit, and is expected to close by the end of 2026, subject to regulatory approvals. The deal reflects the Aditya Birla Group's strategic push to scale its clean energy business, while aligning with India's ambition of achieving 500 GW of non-fossil fuel capacity by 2030.
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Institute of Directors India
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Institute of Directors (IOD) is an apex national association of Corporate Directors under the India's 'Societies Registration Act XXI of 1860'. Currently it is associated with over 31,000 senior executives from Govt, PSU and Private organizations of India and abroad.
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