India Monthly Policy Review: May 2026

 In the Monthly Policy Review for May 2026, macroeconomic development is primarily characterized by the performance of industrial production and a series of policy interventions aimed at sustaining growth through investment, credit support, and labor reforms.

Industrial Production Trends

The core indicator of macroeconomic health during this period was the Index of Industrial Production (IIP), which grew by 4.8% in the fourth quarter (January-March) of 2025-26. This represents an improvement over the 4.0% growth recorded in the same period of the previous fiscal year.

The growth was driven by several key sectors:

• Manufacturing: This sector, which holds a dominant 78% weightage in the IIP, grew by 5.1% during the fourth quarter.
• Mining: Registered a growth of 4.3%, a significant increase from the 2.4% growth seen in the corresponding period of the previous year.
• Electricity: Grew by 2.7% over the quarter, though it faced a sharp slowdown in March 2026, registering only 0.82% growth compared to 7.5% in March 2025.

Industrial and Investment Support

To bolster this industrial momentum, several schemes were approved or extended:

• Emergency Credit Line Guarantee Scheme 5.0: The Cabinet approved this scheme to provide 100% guarantee coverage for MSMEs and 90% for non-MSMEs and airlines facing liquidity pressures as of March 2026.
• Scheme for Investment Promotion: This initiative was extended until 2030-31 with an outlay of Rs 996 crore to facilitate investor targeting and regulatory advisory services.
• BHAVYA Scheme: Guidelines were released for the Bharat Audyogik Vikas Yojna, which aims to develop 100 industrial parks between 2026 and 2032 to enhance the industrial ecosystem and infrastructure.

Financial Sector Reforms

Macroeconomic stability was further supported by changes in foreign investment and corporate regulations:

• Insurance FDI: Rules were amended to allow 100% Foreign Direct Investment (FDI) in the insurance sector under the automatic route, removing the previous 74% cap. Residency requirements for key management personnel were also relaxed.
• CSR and Social Finance: Subscription to zero coupon zero principal instruments issued by Not-for-Profit Organisations (NPOs) on social stock exchanges is now an eligible Corporate Social Responsibility (CSR) activity, allowing companies to spend up to 10% of their CSR budget on these philanthropic bonds.

Labor and Rural Development

The review also highlights structural shifts in the labor market and rural economy:

• Labour Codes: Rules were notified under four major labour codes, covering minimum wages, social security for gig and platform workers, and occupational safety. The rules for wages include the revision of variable dearness allowance twice a year based on the Consumer Price Index.
• Rural Employment: The Viksit Bharat — Guarantee for Rozgar and Ajeevika Mission (Gramin) Act, 2025 (VB G RAM G), which replaces MGNREGA, will come into effect on July 1, 2026. Draft rules specify that fund allocation to states will use 16th Finance Commission parameters, with wages paid via direct benefit transfer.

Agricultural Price Stability

In the agricultural sector, the government approved increases in Minimum Support Prices (MSP) for kharif crops for the 2026-27 season. While the MSP for paddy increased by 3%, other crops like jowar (9%) and sunflower (8%) saw higher increases to support farmer income and manage food inflation. Additionally, the Fair and Remunerative Price (FRP) for sugarcane was set at Rs 365 per quintal for the 2026-27 season.

In the Monthly Policy Review for May 2026, the primary development under the Law and Justice sector is a significant structural change to the nation's highest court, alongside several other legislative and committee-led initiatives that impact the legal landscape.

Expansion of the Supreme Court

The most direct development in Law and Justice is the issuance of the Supreme Court (Number of Judges) Amendment Ordinance, 2026, on May 16, 2026. This Ordinance amends the Supreme Court (Number of Judges) Act, 1956, to increase the total number of Supreme Court judges from 33 to 37. This move is aimed at addressing the judicial workload and enhancing the capacity of the apex court to handle its docket.

Legal and Regulatory Frameworks in Other Sectors

While specifically categorized under other sections, several developments in the May 2026 review carry significant legal and judicial implications:

• Judicial Oversight on Immigration: A High-Level Committee has been constituted under the chairmanship of Justice Prakash Prabhakar Navlekar (Retired) to study demographic changes resulting from illegal immigration. This committee is tasked with recommending legal mechanisms for deportation, strengthening border management, and improving coordination between central and state governments.
• Criminal Penalties in Sports: The Ministry of Youth Affairs and Sports released draft amendments to the National Anti-Doping Act, 2022. These amendments introduce strict criminal penalties, including imprisonment for up to five years for trafficking or administering prohibited substances to athletes. For offenses committed against minors or involving organized crime syndicates, the penalty can increase to 10 years of imprisonment.
• Labour Law Implementation: The legal framework for labor was further solidified with the notification of Rules under four major labour codes: the Occupational Safety, Health, and Working Conditions Code (2020), the Code on Social Security (2020), the Industrial Relations Code (2020), and the Code on Wages (2019). These rules establish the legal requirements for working hours, minimum wage calculation, and the procedures for industrial actions such as strikes or lock-outs.
• Corporate and Financial Regulation: The legal requirements for Corporate Social Responsibility (CSR) were amended to include subscriptions to zero coupon zero principal instruments issued by Not-for-Profit Organisations (NPOs). Additionally, rules regarding Foreign Direct Investment (FDI) in the insurance sector were amended to allow 100% foreign ownership, significantly altering the regulatory requirements for residency of key management personnel.

In the Monthly Policy Review for May 2026, the labour sector is marked by the notification of comprehensive rules under four landmark labour codes and significant structural changes in rural employment through a new mission.

Notification of Rules under Major Labour Codes

The Ministry of Labour and Employment has notified the Rules under four major codes that consolidate various labour laws: the Occupational Safety, Health, and Working Conditions Code (2020), the Code on Social Security (2020), the Industrial Relations Code (2020), and the Code on Wages (2019).

Key provisions across these codes include:

• Occupational Safety and Working Conditions: Weekly working hours are capped at 48 hours. Women can be employed before 6 AM or after 7 PM, provided there is written consent, adequate transportation, and CCTV surveillance. Additionally, employers in dock work and construction must provide free medical examinations for employees over 40 years of age.
• Social Security and the Gig Economy: New rules specify procedures for insurance, provident funds, and maternity benefits. Notably, gig and platform workers are now eligible for social security benefits if they meet specific engagement thresholds: at least 90 days with one aggregator or 120 cumulative days across multiple aggregators in the previous financial year.
• Industrial Relations: The rules outline the process for recognizing trade unions and constituting bi-partite bodies like Works Committees. They also mandate strict timelines for industrial changes: applications for lay-offs must be made at least 15 days in advance, retrenchment 60 days in advance, and closure 90 days in advance.
• Wage Regulation: Minimum wages will be calculated daily, with criteria to be specified by the central government. A variable dearness allowance will be revised twice a year (before April 1 and October 1) based on the Average Consumer Price Index for Industrial Workers. The central government will also fix a floor wage, to be revised at least every five years.

Transition in Rural Employment

A major development is the upcoming implementation of the Viksit Bharat — Guarantee for Rozgar and Ajeevika Mission (Gramin) Act, 2025 (VB-G RAM G), which will replace MGNREGA starting July 1, 2026.

• Wage Payments: All wages and unemployment allowances under this mission must be paid through direct benefit transfer to bank or post office accounts; cash payments are strictly prohibited except in extraordinary circumstances.
• Governance: The mission will be overseen by a National Level Steering Committee and a Central Council, the latter of which includes representatives from various ministries, including Labour and Employment.

International Labour Mobility

Macro-level labour developments also extended to international strategic partnerships during the Prime Minister's visits:

• UAE: Agreements were signed for the mobilisation, training, and employment of a skilled maritime workforce.
• Italy: A declaration of intent was signed to facilitate the mobility of nurses from India to Italy.
• Other Partnerships: Strategic dialogues with the Netherlands and Sweden also focused on the mobility of skilled workers, students, and researchers.

In the Monthly Policy Review for May 2026, rural development is centered on the transition to a new employment guarantee framework and the supporting infrastructure for food security and agricultural income.

The VB-G RAM G Act, 2025

The most significant development is the release of draft Rules for the Viksit Bharat — Guarantee for Rozgar and Ajeevika Mission (Gramin) Act, 2025 (VB-G RAM G). This Act is set to replace the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), 2005, and will officially come into effect on July 1, 2026. Like its predecessor, it provides guaranteed wage employment to rural households.

Key features of the draft Rules include:

• Fund Allocation: The central government will determine a "normative allocation" of funds for each state using objective parameters recommended by the 16th Finance Commission for the distribution of central taxes. From the second year onward, a portion of this allocation will be linked to performance criteria, such as timely wage payments, compliance with social audits, and the percentage of completed works.
• Wage Payment Mechanism: To ensure transparency, all wages and unemployment allowances must be paid through direct benefit transfer (DBT) into bank or post office accounts. Cash payments are strictly prohibited, except in extraordinary circumstances.
• Governance and Oversight: The Act establishes a two-tier oversight structure:
  • National Level Steering Committee: Chaired by the Secretary of the Department of Rural Development, this body provides high-level oversight and advises on inter-ministerial coordination.
  • Central Council: Chaired by the Union Minister for Rural Development, this council monitors implementation and includes representatives from various ministries (Labour, Panchayati Raj, Agriculture, etc.) and state governments.

The Ministry of Rural Development has invited public comments on these draft Rules until June 21, 2026.

Broader Rural Economic Context

Beyond employment, other policy decisions in May 2026 directly impact rural livelihoods:

• Agricultural Support: The Cabinet approved increases in Minimum Support Prices (MSP) for kharif crops for the 2026-27 season. This includes a 3% increase for paddy and higher increases for crops like jowar (9%) and sunflower (8%). Additionally, the Fair and Remunerative Price (FRP) for sugarcane was set at Rs 365 per quintal for the 2026-27 season.
• Food Security Infrastructure: The SARTHAK-PDS umbrella scheme was extended until March 2031 with an outlay of Rs 25,530 crore. This scheme supports the intra-state movement of foodgrains and the automation of Fair Price Shops, which are critical for the rural Public Distribution System.
• Targeted Missions: A new Mission for Cotton Productivity was approved for 2026-2031, targeting 140 districts in 14 states to enhance high-yielding variety seeds and testing infrastructure.

In the Monthly Policy Review for May 2026, the Commerce and Industry sector is highlighted through strong industrial production figures, the launch of major infrastructure schemes, and a series of strategic international partnerships aimed at boosting investment and technological cooperation.

Industrial Production Performance

Macroeconomic indicators show a positive trend in industrial activity. The Index of Industrial Production (IIP) grew by 4.8% in the fourth quarter (January-March) of 2025-26, an improvement over the 4.0% growth seen in the same period the previous year.

• Manufacturing: This sector, which carries a 78% weightage in the IIP, led the growth at 5.1%.
• Mining and Electricity: These sectors registered growth of 4.3% and 2.7%, respectively, although electricity saw a significant slowdown in March 2026.

Key Industrial and Investment Schemes

Several policy interventions were approved or updated to support businesses and attract investment:

• Emergency Credit Line Guarantee Scheme (ECLGS) 5.0: The Cabinet approved this scheme to provide credit guarantees for eligible borrowers—including MSMEs and passenger airlines—facing short-term liquidity pressures. It provides 100% guarantee coverage for MSMEs and 90% for non-MSMEs and airlines.
• BHAVYA Scheme (Bharat Audyogik Vikas Yojna): Guidelines were released to support the development of 100 industrial parks between 2026 and 2032. The scheme utilizes Special Purpose Vehicles (SPVs) for implementation and offers financial assistance through equity via the National Industrial Corridor Development and Investment Trust (NICDIT).
• Scheme for Investment Promotion: This long-standing initiative was extended until 2030-31 with a financial outlay of Rs 996 crore. It focuses on investor targeting and providing support throughout the investment lifecycle, including regulatory advisory and project approvals.

Strategic International Partnerships

The review outlines several high-level diplomatic visits that resulted in commercial and industrial agreements:

• United Arab Emirates (UAE): Agreements were signed for strategic collaboration in oil and gas, the creation of a ship repair cluster, and defense industrial collaboration. Additionally, UAE entities are set to explore investments worth five billion USD in India.
• European Partnerships: Strategic partnerships were established or elevated with Italy (defense industrial roadmap and maritime transport), the Netherlands (semiconductors and renewable energy), and Sweden (next-generation economic partnership and emerging technologies).
• Critical Minerals: India and the United States signed a framework to secure supply chains for mining and processing critical minerals and rare earths, covering everything from recycling to related investments.

Sector-Specific Missions

To enhance competitiveness in specific industries, the government approved the Mission for Cotton Productivity for 2026-2031. With an outlay of Rs 5,659 crore, the mission aims to achieve self-sufficiency and increase competitiveness in global textile markets by improving seed quality and testing infrastructure.

In the Monthly Policy Review for May 2026, the finance sector saw several regulatory updates from the Ministry of Finance, the Reserve Bank of India (RBI), and the Securities and Exchange Board of India (SEBI), alongside new rules for corporate social responsibility and credit support.

Foreign Direct Investment (FDI) in Insurance

The Ministry of Finance notified the Foreign Exchange Management (Non-debt Instruments) (Second Amendment) Rules, 2026, which significantly liberalize the insurance sector.

• Removal of Investment Ceilings: The previous 74% cap on foreign investment in insurance companies and intermediaries has been removed, allowing 100% FDI under the automatic route. However, foreign investment in the Life Insurance Corporation of India (LIC) remains capped at 20%.
• Relaxation of Residency Requirements: Previous rules required a majority of the Board of Directors and Key Management Persons (KMPs) to be resident Indian citizens. The new rules relax this, requiring only one person among the Chairperson of the Board, the Managing Director, or the Chief Executive Officer to be a resident Indian citizen.

Regulation of Loan Recovery Agents

The RBI has proposed draft amendments to the conduct of regulated entities regarding loan recovery to protect borrowers.

• Technology Restrictions: Lending entities are prohibited from using technology to disable a borrower’s mobile device as a recovery mechanism, unless the loan specifically financed that device. Even then, the device cannot be locked until the loan is 90 days past due and multiple notices have been served.
• Grievance Redressal: Cases cannot be forwarded to recovery agents until any lodged grievances are disposed of.
• Notice and Certification: Borrowers must receive at least one day's notice (via SMS/email) or three days' notice (via letter) before an agent's first in-person visit. Additionally, all recovery agents must obtain mandatory certification from the Indian Institute of Banking and Finance.

Mutual Fund Reforms

SEBI released a draft circular to enable third-party payments in mutual funds under specific conditions.

• Employer Payments: Asset Management Companies (AMCs) may now accept consolidated payments for investments through salary deductions for employees of listed or EPFO-registered companies.
• Commission and Donations: The circular proposes allowing distributors to receive mutual fund units in lieu of cash commissions and permits investors to donate part of their returns or subscriptions to NGOs.
• Anti-Money Laundering: To mitigate risks, AMCs must implement safeguards including KYC for both payees and beneficiaries and maintaining auditable electronic fund trails.

CSR and Social Finance

The Ministry of Corporate Affairs amended CSR rules to include subscriptions to zero coupon zero principal (ZCZP) instruments issued by Not-for-Profit Organisations (NPOs) on social stock exchanges.

• Investment Limit: Companies can spend up to 10% of their annual CSR budget on these philanthropic bonds.
• Exemptions: Subscribing companies are exempt from undertaking impact assessments for projects funded through these instruments.

Credit and Fiscal Allocation

Broader financial measures in the review include:

• Emergency Credit Line Guarantee Scheme 5.0: This scheme provides 100% guarantee coverage for MSMEs and 90% for non-MSMEs and passenger airlines for additional credit to manage liquidity pressures.
• Rural Fund Allocation: Under the new VB-G RAM G Act, the normative allocation of funds to states will be determined using parameters recommended by the 16th Finance Commission for the distribution of central taxes.

In the Monthly Policy Review for May 2026, developments in agriculture and food were focused on price support for farmers, a new mission to boost specific crop productivity, and the extension of major food distribution infrastructure.

Minimum Support Prices (MSP) for Kharif Crops

The Union Cabinet approved increases in the Minimum Support Price (MSP) for kharif crops for the 2026-27 marketing season. The MSP is the guaranteed price at which the central government procures crops from farmers.

• Paddy (Common): Increased by 3% to Rs 2,441 per quintal.
• Higher Increases: Significant increases were seen in Jowar (9%), Sunflower Seed (8%), Soybean (7%), and Cotton (7%).
• Other Crops: Small adjustments were made to crops like Moong (0.1% increase) and Maize (0.4% increase).

Sugarcane Pricing

For the 2026-27 sugar season, the government set the Fair and Remunerative Price (FRP) for sugarcane at Rs 365 per quintal, based on a recovery rate of 10.25%.

• Premiums and Reductions: Farmers receive a premium of Rs 3.56 per quintal for every 0.1% increase in the recovery rate above 10.25%. Conversely, the price is reduced by the same amount for every 0.1% decrease, though no further deductions are made if the recovery rate falls below 9.5%.

Mission for Cotton Productivity

A new Mission for Cotton Productivity was approved for the period of 2026-27 to 2030-31, with a financial outlay of Rs 5,659 crore. The mission's objectives include:

• Developing high-yielding variety seeds that are resistant to pests and diseases.
• Scaling up modern crop production technologies.
• Improving the infrastructure for quality testing.
• Promoting the export of high-quality cotton to enhance global competitiveness. Initially, the mission will target 140 districts across 14 cotton-producing states.

Food Distribution and SARTHAK-PDS

The Cabinet approved the continuation of the SARTHAK-PDS (Scheme for Assistance in Ration Transport and Handling-Income with Automation in PDS) as an umbrella scheme until March 2031.

• Purpose: The scheme provides financial support for the intra-state movement of foodgrains and the margins for Fair Price Shop (FPS) dealers under the National Food Security Act, 2013.
• Modernization: It also funds reforms through technology and automation in the Public Distribution System (PDS).
• Outlay: The estimated central outlay for this extension is Rs 25,530 crore.

International Cooperation

The review also notes international strategic partnerships that involve the agricultural sector:

• Italy: Agreements were signed regarding agriculture and marine products.
• Netherlands: Both nations agreed to expand cooperation specifically in the field of agriculture as part of their strategic partnership.

In the Monthly Policy Review for May 2026, developments in energy and infrastructure are characterized by a major new scheme for coal gasification, initiatives to develop industrial parks, and strategic international collaborations for energy security and specialized transport.

Energy Sector Developments

Policy focus in the energy sector during May 2026 spanned industrial output trends, new financial incentives for coal, and international partnerships for renewable and strategic energy.

• Electricity Generation: In the fourth quarter (January-March) of 2025-26, the electricity sector saw a growth of 2.7%. However, there was a significant slowdown in March 2026, where growth was only 0.82% compared to 7.5% in March 2025.
• Surface Coal Gasification: The Union Cabinet approved a new scheme to promote surface coal and lignite gasification, which converts these resources into combustible synthetic gas. The scheme has a total estimated outlay of Rs 37,500 crore and offers financial incentives of up to 20% of the cost of plant and machinery for new projects, selected through competitive bidding.
• Strategic Energy Partnerships:
  • UAE: India signed agreements for strategic collaboration on crude oil, liquid natural gas (LNG), and petroleum natural gas storage. Both countries will explore storing crude oil in the UAE as part of the Indian strategic petroleum reserve.
  • Renewable Energy: Strategic partnerships were established with the Netherlands for renewable energy and with Norway for ocean energy, including offshore wind.
  • Green Transition: Cooperation on "green transition" was a key point of discussion during bilateral talks with Sweden.

Infrastructure and Transport

Infrastructure development in May 2026 focused on industrial ecosystems, maritime facilities, and regulatory shifts in transport.

• BHAVYA Scheme (Industrial Infrastructure): Guidelines were released for the Bharat Audyogik Vikas Yojna, which targets the development of 100 industrial parks by 2031-32. These parks will be evaluated based on multimodal connectivity and quality of infrastructure, with the central government providing equity through the National Industrial Corridor Development and Investment Trust (NICDIT).
• Transport Regulations: The Central Motor Vehicles (Sixth Amendment) Rules, 2026, introduced several changes to safety and registration:
  • Vehicles not declared fit within 180 days of an initial failure will be categorized as end-of-life vehicles.
  • Fitness tests must now be captured in geo-tagged videos and uploaded to a central mobile application.
  • Mandatory checks during fitness tests have been expanded to include vehicle location tracking devices and speed governors.
• Maritime Infrastructure: Agreements were signed with the UAE to set up a ship repair cluster and with Italy to cooperate on maritime transport and ports.
• Specialized Construction: India and Norway agreed to collaborate on consultancy services for tunnel construction, slope stability, and geomodelling.
• Food Distribution Infrastructure: The continuation of the SARTHAK-PDS umbrella scheme until 2031 includes an outlay of Rs 25,530 crore to support the intra-state movement of foodgrains and the automation of the Public Distribution System (PDS) through technology.

In the Monthly Policy Review for May 2026, developments in Home Affairs and Sports focus on managing demographic security and strengthening the legal framework against doping in professional athletics.

Home Affairs: Addressing Illegal Immigration

The central government has constituted a High-Level Committee, chaired by Retired Justice Prakash Prabhakar Navlekar, to study demographic changes resulting from illegal immigration and other abnormal factors. The committee's mandate includes:

• Factor Identification: Identifying the underlying reasons behind these demographic shifts.
• Population Analysis: Analyzing structural changes in the population at the level of specific religious or social communities.
• Policy Recommendations: Proposing legal and administrative mechanisms for the deportation of illegal immigrants, methods to strengthen border management, and ways to enhance coordination between central and state governments.

The committee is expected to submit its report within one year, though the Ministry of Home Affairs has the authority to extend this tenure by up to six months if required.

Sports: Strengthening Anti-Doping Regulations

The Ministry of Youth Affairs and Sports has released draft amendments to the National Anti-Doping Act, 2022, for public consultation, with a focus on introducing strict criminal penalties for doping-related offenses.

Key features of the proposed amendments include:

• Imprisonment for Trafficking and Administration: The trafficking, selling, or prescribing of prohibited substances, as well as their administration to an athlete, will be punishable by up to five years of imprisonment, a fine of up to two lakh rupees, or both.
• Enhanced Penalties for Aggravated Offenses: If these offenses involve minors, are conducted commercially, or are carried out by organized crime syndicates, the penalties increase significantly to up to 10 years of imprisonment and a fine of up to five lakh rupees.
• Regulation of Promotion: The advertising or paid promotion of prohibited substances or methods in the context of sports doping will be punishable by up to one year of imprisonment, a fine of up to one lakh rupees, or both.

Public comments on these draft amendments are invited until June 18, 2026.

In the Monthly Policy Review for May 2026, external affairs are highlighted by a series of high-level bilateral visits and the elevation of several diplomatic relationships to strategic partnerships, focusing on technology, energy security, and labor mobility.

Elevation of Strategic Partnerships

Several key bilateral relationships were formally elevated during May 2026:

• Italy: The diplomatic relationship was elevated to a special strategic partnership. This included roadmaps for defence industrial and higher education cooperation.
• Netherlands: The bilateral relationship was elevated to a strategic partnership, supported by a newly signed India-Netherlands Strategic Partnership (2026-2030) roadmap.
• Sweden: A strategic partnership was established based on a joint action plan with four pillars: stability and security dialogue, a next-generation economic partnership, emerging technologies/trusted connectivity, and people/planet resilience.

Technology and Innovation

Cooperation in advanced technology was a central theme across multiple regions:

• Semiconductors: India and the Netherlands agreed to expand cooperation in the semiconductor industry.
• Supercomputing: India and the UAE agreed to establish a supercomputing cluster.
• Emerging Technologies: Discussions with Sweden focused on innovation and trusted connectivity, while the India-Nordic Summit touched on Artificial Intelligence and research.
• Space: Cooperation with Norway was expanded to include the exploration and uses of outer space.

Energy and Resource Security

Securing supply chains for energy and raw materials was a priority in several agreements:

• Critical Minerals: India signed a framework with the United States for "Securing of Supply in the Mining and Processing of Critical Minerals and Rare Earths," covering everything from mining to recycling. Similar agreements regarding critical minerals were signed with Italy and the Netherlands.
• Oil and Gas: Agreements with the UAE focused on strategic collaboration for crude oil, LNG, and petroleum gas storage. Notably, both countries will explore storing crude oil in the UAE as part of the Indian strategic petroleum reserve.
• Renewable Energy: Cooperation was expanded with the Netherlands in renewable energy and with Norway in ocean energy, specifically offshore wind.

Defence and Maritime Cooperation

• Industrial Collaboration: Defence industrial roadmaps and collaboration agreements were established with both the UAE and Italy.
• Maritime Infrastructure: Agreements were reached with the UAE for a ship repair cluster and with Italy regarding maritime transport and ports.

Labor, Migration, and Mobility

Several agreements addressed the international movement of students and professionals:

• Healthcare: India and Italy signed a declaration of intent to facilitate the mobility of nurses.
• Skilled Workforce: Agreements with the UAE focused on training and employing a skilled maritime workforce.
• General Mobility: Mobility of students, researchers, and skilled workers was a key discussion point with the Netherlands and Sweden.

Multilateral Engagement

The Third India-Nordic Summit was held in Oslo, with participants from India, Denmark, Norway, Finland, Iceland, and Sweden. The summit addressed global issues including multilateralism at the UN, developments in Europe and West Asia, and international climate action.