Archives February 2026

By:- Supreme kothari, Partner, Economic Laws Practice.

”Budget 2026 has provided significant relief for Indians planning to travel abroad, with a major proposal to reduce the Tax Collected at Source on overseas tour packages to 2% from the existing slab-based rates of 5% and 20%, with no minimum limit. This move is expected to make international bookings cheaper, simpler, and more accessible, easing the financial burden on travelers while encouraging more Indians to explore foreign destinations. By standardizing the TCS rate and eliminating minimum thresholds, the Budget also simplifies compliance for both travelers and tour operators, potentially boosting outbound tourism and benefiting allied sectors such as airlines, hotels, and travel agencies. Experts believe this reform aligns with the government’s broader goal of promoting ease of travel and transparency in pricing, making international vacations more financially feasible for families, students, and young professionals alike. Overall, the reduction in TCS is a tourism-friendly measure that not only supports travelers but also strengthens India’s global tourism footprint”

Dr. Puneet Dhawan Hails Budget 2026: “AYUSH-Integrated Medical Hubs to Make India the Global Holistic Healthcare Capital”

New Delhi, Feb 01: Dr. Puneet Dhawan, Co-Chair of the PHDCCI AYUSH Committee and renowned Ayurvedic specialist, today welcomed the government’s announcement in Budget 2026 to establish five new Medical Hubs across India. The initiative aims to integrate AYUSH centers with modern medical infrastructure, promoting holistic healthcare and boosting India’s Medical Value Tourism (MVT) ecosystem.

“This is a transformative step toward ‘Heal in India’,” said Dr. Dhawan. “By integrating AYUSH within these hubs, the long-standing challenge of fragmented care is addressed. International patients can now access both modern diagnostics and traditional healing under one roof.”

Dr. Dhawan highlighted the strategic benefits of the initiative:

• Scientific Validation: Building a data-driven environment for Ayurvedic clinical outcomes.

• Global Trust: Leveraging private-sector efficiency and international accreditation for traditional medicine.

• Economic Growth: Enhancing foreign exchange inflow through specialized wellness and rehabilitation tourism.

“The integration of AYUSH into modern medical hubs not only strengthens India’s healthcare capabilities but also positions the country as a global leader in holistic wellness,” he added.

By:- Snhkumar Purohit, Chief Strategist, EVM India.e

Most MSMEs struggle because cash cycles are tight and balance sheets are stretched. Too much debt leaves little room to absorb shocks or invest in growth. The ₹10,000 crore MSME Growth Fund finally recognises this gap by bringing equity into the picture. The ₹2,000 crore addition to the Self-Reliant India Fund supports businesses that are ready to scale, not just start. This helps MSMEs move from managing liabilities to building capability. This addresses a real structural constraint on the ground.

MENA region outpaces Europe as second-fastest-growing market in global wellness real estate boom

Dubai, UAE, Feb 1: Dubai has become the regional hub in a trend reshaping the luxury real estate market as wealthy global buyers make quality of life their main investment goal.

The global wellness real estate market, which has more than doubled since 2019, is projected to reach $1.1 trillion by 2029, with the Middle East playing its own part in this transformation.

According to the Global Wellness Institute (GWI), the MENA region is the second fastest-growing market worldwide, expanding at just over 22% annually, just behind Latin America–Caribbean (24%), and ahead of Europe (22.4%).

“Over the last few years, there has been a big change in the way luxury real estate is defined and valued,” says Talal M. Al Gaddah, CEO and Founder of the Keturah luxury brand. “No longer is it just driven by well-known names, size, or prestige. Today, buyers seek homes to improve their health and wellbeing.”

“They are now asking, ‘Is this home going to make me healthier? Will it help me sleep better, improve my mood, my family’s well-being? Will it connect me to nature, and give us all the quality of life we need?”

“This was our motivation in developing Keturah Reserve as the first community of its kind in the region where wellness science shapes every architectural decision.”

Interiors across the AED5.7 billion luxury Keturah Reserve development in Meydan feature natural materials and rich greenery to promote daily wellness. Bio-living features include sophisticated air and water purification systems, as well circadian lighting to improve sleep, mood, and energy levels.

Dubai’s luxury market is shifting from volume-driven growth to innovation-led development, with new projects addressing real lifestyle and health needs that challenge conventions, capture global attention, and reinforce the city’s reputation as a forward-thinking destination.

Most luxury buyers are long-term (5+ years) or medium-term (2-4 years) investors, though the distinction is increasingly based on purpose rather than timeframe, with two distinct profiles emerging.

“The lifestyle investor acquires a unit as a primary or secondary residence, considering it as a long-term sanctuary,” says Talal. “They are committed to holding for at least five years because they are investing in their family’s health and happiness, not merely capital appreciation.

“The strategic investor acknowledges the scarcity value of wellness-focused luxury assets, and recognizes that as the wellness real estate market grows annually in this region, early entrants will appreciate significantly. Generally, they hold for 3-5 years before exiting with substantial returns.”

Both categories of investors are quality-focused and prepared to pay a premium. They also seek assurances that the developer will deliver, that the asset will appreciate, and that they will have viable exit options.

As Dubai’s luxury real estate market continues to flourish, rather than worrying investors, they perceive it as evidence of the market’s vitality and Dubai’s standing as a global luxury destination.

Chandigarh, Feb 01: As the Union Budget 2026–27 approaches, leaders across sectors have shared their perspectives on policy priorities that can accelerate India’s economic growth, strengthen global competitiveness, and support innovation-led development.

Accounting, Compliance, and Global Business Structuring
Mr. Satya Yeruva, Co-Founder & CEO, FinStackk, highlighted the importance of tax certainty and procedural simplification for startups and global businesses.

“Faster and fully automated GST refunds, clearer guidance on transfer pricing and foreign remittances, and rationalised compliance timelines would significantly ease the burden on businesses. Additional incentives for SaaS and fintech-led service providers, investment in digital public infrastructure for finance, and continued support for MSME formalisation will strengthen India as a preferred base for global entrepreneurship. A stable policy environment enables businesses to scale confidently while maintaining strong governance and financial transparency,” he said.

Digital Marketing and AI Adoption
Mr. Akhil Nair, Founder & CEO, BigTrunk Communications, emphasised the need for the Budget to align with modern marketing realities.

“Marketing is now a core driver of India’s digital economy, and policy support must enable AI-led innovation and advanced analytics. Allocations supporting AI/ML research for marketing, along with incentives for MSMEs to adopt MarTech tools like CRM, automation, and analytics, can accelerate ecosystem maturity. Simpler compliance and clearer taxation for digital service exports will help Indian agencies compete globally, while continued investment in Digital Public Infrastructure will strengthen omnichannel growth and export-readiness,” he said.

Food Processing and Frozen Foods
Mr. Ekansh Garg, Co-founder & CEO, Cravicious Foods, called for stronger policy support for value-added agriculture and food processing.

“With rising demand for hygienic, convenient, and ready-to-cook foods, the Budget should prioritise cold-chain infrastructure, modern processing facilities, and advanced freezing technologies. Incentives for in-house manufacturing, quality certification, and energy-efficient cold storage will help domestic brands scale sustainably and reduce wastage. Simplified compliance, GST rationalisation, and easier access to working capital will accelerate growth for bootstrapped manufacturers, positioning India as a global hub for high-quality frozen foods,” he said.

Gems and Jewellery
Mr. C Vinod Hayagriv, Managing Director & Director, C. Krishniah Chetty Group of Jewellers, stressed pragmatic reforms to restore sector momentum.

“A reduction in gold import duty to 3% would ease cost pressures and revive livelihoods across the value chain. Greater transparency through publication of gold bar numbers on customs portals and more flexible inventory management can help mitigate challenges from high metal prices and lower sales. These steps are critical to sustaining small and medium jewellery businesses in a challenging global environment,” he said.

Electronics and Original Design Manufacturing
Mr. Shishir Gupta, Co-founder & CEO, Oakter, urged the Budget to support India’s journey from assembly-led production to innovation-driven manufacturing.

“Priority areas should include design-linked incentives, deeper component localisation, easier access to working capital, and expansion of PLI support for ODM-led manufacturing. Incentives for batteries, power electronics, IoT hardware, and semiconductor supply chains, coupled with stable GST structures and faster input tax credits, will help Indian manufacturers move up the value chain, create IP-driven products, and emerge as trusted global suppliers,” he said.

Electric Mobility
Mr. Sameer Moidin, Founder & CEO, EVeium Smart Mobility, called for policies that scale domestic EV manufacturing.

“The Union Budget must focus on Make-in-India electric two-wheelers that are designed, manufactured, and scaled domestically. Incentives should support battery localisation, affordable financing, mass production, and robust charging infrastructure, making EVs practical for all users. This will strengthen supply chains, create jobs, and position India as a global EV leader,” he said.

Healthcare
As India’s healthcare sector evolves, industry leaders emphasised that the Budget should strategically support digital health, medical infrastructure, skill development, and research-led innovation to improve access, quality, and affordability for all citizens.

Chandigarh, Feb 01st: Mahindra & Mahindra Ltd. (M&M Ltd.), one of India’s leading automotive companies, today announced that its overall auto sales for the month of January 2026 stood at 104,309 vehicles, a growth of 24% including exports.

In the Utility Vehicles segment, Mahindra sold 63,510 vehicles in the domestic market, a growth of 25% and overall, 104,309 vehicles, including exports. The domestic sales for Commercial Vehicles stood at 27,656, a growth of 22%.

According to Nalinikanth Gollagunta, CEO, Automotive Division, M&M Ltd., “Building on the strong momentum of last year’s performance, we began the year on a strong note in January by achieving SUV sales of 63,510 units, a growth of 25% and LCV< 3.5T sales of 27,656 units, a growth of 22%. The total vehicle sales stand at 104,309 units, a 24% year-on-year growth.

On 14th January, we opened bookings for XUV7XO and XEV 9S clocking 93,689 bookings for a booking value of Rs. 20,500 Crore – a record-breaking milestone in just 4 hours.”

Chandigarh, Feb 01: The Heavy Civil Infrastructure business vertical of L&T has won a contract from the Royal Commission of Riyadh City in Saudi Arabia for works pertaining to the extension of the Riyadh Metro. The order is a part of an ultra-mega project won by a consortium of Webuild S.p.A, L&T, Nesma & Partners Contracting, Alstom and IDOM.

The order pertains to the extension of Red Line of Riyadh Metro Network. The scope of work includes design and turnkey construction of 8.4 km long metro line comprising both elevated and underground sections, and five stations.

L&T has a proven capability in constructing fast and reliable mass transit systems across the globe, and this latest order stands as a testament to the trust customers place in the company.

Background:

Larsen & Toubro is a USD 30 billion Indian multinational engaged in EPC Projects, Hi-Tech Manufacturing, and Services, operating across multiple geographies. A strong, customer–focused approach and the constant quest for top-class quality have enabled L&T to attain and sustain leadership in its major lines of business for over eight decades.

Chandigarh, Feb 01: Poonawalla Fincorp Limited (PFL) today announced the rollout of five new AI-powered enterprise solutions. The new deployments extend the use of artificial intelligence across strategic decision-making, customer onboarding, data quality management, customer experience analytics and application development.

These initiatives reflect PFL’s long-term vision to become a digitally fluent, data-driven, and highly scalable financial organization, with AI-first approach being adopted across functions.

Aligned with this direction, PFL has introduced the following five AI-led solutions:

1. AI-powered Competition Benchmarking Engine: This capability embeds market intelligence directly into how PFL prices, positions and competes. AI autonomously searches for market changes, analysing competitor pricing moves, product shifts and engagement patterns across portfolios, and converts them into timely, decision-ready insights. Built as an extension of the organisation’s AI-enabled risk hindsight framework, the system enables faster responses to market shifts.
2. Central KYC (CKYC) AI Platform: As customer onboarding scales, consistency and control become critical. The CKYC AI platform reframes compliance as a source of strength by applying AI-driven validation at the entry point, ensuring KYC data is assessed for accuracy and material relevance before it flows through the system. This reduces manual intervention by ~15 percent, and materially strengthens both accuracy and turnaround performance.
3. Agentic Data Quality Intelligence (DQI): As data flows across multiple systems and teams, maintaining consistency becomes critical. This solution automatically monitors data against defined quality standards, flags anomalies, and updates validation rules as requirements evolve. It ensures data used for reporting, risk and business decisions remains accurate, traceable and audit-ready.
4. AI-led Voice of Customer (VOC) Categorisation: Customer feedback is often rich but difficult to act on, at scale. This system organises free-text responses into clear issue themes and directly links them to accountable functions. Issues move faster, ownership is clearer, and recurring problems are addressed systematically rather than case by case.
5. Build Buddy for Accelerated Application Development: An AI-powered development assistant integrated into PFL’s existing technology stack. Acting as a “development buddy,” it supports engineers by assisting with code writing, suggesting fixes before code is committed, and providing contextual feedback on logic, performance and readability. The solution also enables automated refactoring, improving reuse, reducing development costs and significantly accelerating application delivery while ensuring adherence to development and deployment standards.

Commenting on the new developments, Arvind Kapil, Managing Director & CEO, Poonawalla Fincorp, said,

 “AI is more than a tool – it is reshaping how organisations think, decide, and compete. Our focus is on using it responsibly by combining machine precision with human judgment to strengthen trust and sharpen decision-making. By embedding AI across pricing, customer onboarding, data quality, feedback and technology development, we are turning insight into action and building a competitive advantage thereby laying the foundation for sustainable growth.”

At PFL, AI is continuing to emerge as a strategic differentiator and game-changer across core areas, right from risk calibration and fraud detection to marketing, compliance, HR, governance, audit, and underwriting quality assessment.

The company in this quarter alone has initiated 12 AI projects bringing the company wide total to 57 projects, of which 30 have been successfully completed. PFL continues to deepen its commitment to its AI-first approach, driving intelligent automation, accuracy, and future-ready innovation.

Bhubaneswar, Feb 01 :The Union government’s Economic Survey 2025-’26 places renewed emphasis on the revival of village Commons as a foundation for sustainable rural growth, stronger livelihoods, and more resilient communities. The Survey was released on Thursday ahead of Sunday’s Budget presentation. “Reviving and protecting village commons…requires a collaborative approach that involves both the government and local communities actively participating,” the document notes. “To achieve this, first, ‘village commons’ as a distinct land-use category may need official incorporation with sub-categories, so that accurate estimation, monitoring, and informed policy intervention can be undertaken.”

In a chapter titled Rural Development and Social Progress: From Participation to Partnership_ , the survey describes village Commons, also known as Common Property Resources (CPRs), as a “crucial yet underutilised asset” where community institutions, technology, and livelihood generation intersect to support long-term rural transformation. These commons include grazing lands, ponds, water bodies, and shared spaces traditionally managed by local communities.

According to the Survey, around 15% of India’s geographical area comprises village Commons. The 2011 Census estimates common land at 6.6 crore hectares, forming biodiversity-rich ecosystems that support the livelihoods of approximately 35 crore rural people. These ecosystems provide 34 ecosystem services including food, fodder, fuelwood, water and income, and facilitate water purification, soil protection, carbon sequestration, and flood control.

The Survey notes that these ecosystems generate an economic dividend of USD 9.05 crore per year, while contributing directly to the Sustainable Development Goals, including poverty reduction and sustainable livelihoods. Yet, it cautions that “their value is often underestimated”, and that commons have deteriorated due to encroachment, misuse, and rising environmental pressures.

Mr. Sisir K Pradhan, PhD, University of Waterloo said,

“Village commons have always been central to rural livelihoods, but have traditionally been viewed through cultural identity or subsistence economic lenses. The recent economic survey has, for the first time, emphasised village commons as an economic resource essential for rural communities to thrive. It has also highlighted the need for restoration of such commons to improve life and livelihoods and to address the climate crisis that affects social, ecological, and economic foundations every day. “

Mr. Pravas Mishra, economist, budget analyst and NRM expert Said,

“The Survey rightly highlights the need to move away from neglect and encroachment towards a framework of deliberate governance — through formal recognition of commons as a distinct land-use category, strengthening local institutions, and integrating community stewardship with modern tools such as GIS mapping and capacity building. Following the economy survey, Union Budget 2026-27 should take adequate actions on optimal use of commons for making the panchayats self sufficient. Developing panchayat wise inventory of commons is the need of the hour to plan for its sustainable use.“

Mr. Kanchi Kohli, researcher and educator said, idea of commons which includes but is not limited to its economic value. There is a need to future proof the shared and integrated social, cultural and ecological