Look east

India may rejoin the Regional Comprehensive Economic Partnership (RCEP), the trade bloc it walked away from nearly five years ago, Mint reported. The rethink comes amid rising trade frictions with the US and a thaw in ties with China. 

India had pulled out of the 15-nation pact just before its signing, citing concerns over market access, a widening trade deficit with China, and risks to farmers and the dairy industry from a flood of Chinese goods and New Zealand dairy exports. RCEP member nations currently account for about a fifth of India's exports, roughly on par with the US.

Game over?

The Indian government has pushed ahead with a blanket ban on all real-money online games, regardless of whether they are based on skill or chance. The Promotion and Regulation of Online Gaming Bill, 2025, was passed in the Lok Sabha on Wednesday, with the government citing concerns over addiction, financial ruin and societal harm. 

The decision has drawn sharp criticism from the industry, warning of job losses, a decline in tax revenue, and a shift towards illegal and offshore platforms. In the past few years, billions in investor capital have been poured into the industry.

Steely resolve

$9 billion: That's the planned investment amount in a new steel plant in Odisha by JSW Steel and South Korea's POSCO Holdings, Mint reported. The plant, with a proposed capacity of 6 million tonnes per annum, will be built on a 900-acre land parcel recently acquired by JSW Steel. 

For POSCO, this is the third attempt to establish a foothold in India's steel market after earlier projects in Odisha and Karnataka failed to materialize. The joint venture will also explore electric vehicle batteries and renewable energy generation for the plant.

GST gamble

The government proposal to scrap the 12% and 28% GST slabs by moving the majority of items to 5% and 18% tax brackets, respectively, is unlikely to be a tough task, even as Prime Minister Narendra Modi has set a tight deadline. 

A Mint analysis of slab-wise goods shows that the number of items in the 12% and 28% brackets is fewer compared to other categories. They, together, also contribute significantly less to total collections. The 18% tax bracket has the highest number of items and contributes the most to the collections. 

Blending blues

E20 fuel, or 20% ethanol blended with petrol, has come under scrutiny amid the Centre's push for wider adoption, despite consumer concerns about cost and vehicle efficiency. Last month, the government announced that India had achieved 20% ethanol blending in petrol, five years ahead of schedule

Supporters argue that the shift reduces crude oil dependence, boosts farmers' incomes, and lowers emissions. Critics, however, including consumers and the auto industry, warn it could damage older vehicles, causing seepage or leakage, and insist the blend should remain optional.

Fleet feat

₹75,000 crore: That is the investment the Centre is planning over the next four to five years on building three shipyards, Mint reported. These facilities will be located along the east and west coasts, and will build and repair ships. One of the three could house a shipbreaking unit to supply raw materials. 

Five states are in discussions with domestic and foreign shipbuilders for locations. This initiative is part of a larger government strategy to raise the share of India-built ships in the national fleet from 5% to 7% by 2030. The Budget for 2025-26 had proposed a Maritime Development Fund, which will be a ₹25,000 crore government-industry partnership in the segment.

Hiring downturn

Hiring at India's leading private sector banks dropped to its lowest level in at least three years in FY25, according to a Mintanalysis of annual reports of seven banks. 

In FY25, these banks added 131,471 employees, marking a 32% and 16% decline compared to FY24 and FY23, respectively. HDFC Bank's hiring declined 44%, while Axis Bank saw a 22% drop. Experts attribute the decline to a wider adoption of digital channels for branch operations and banks' strategy of prioritising promotions and in-house programs over lateral recruitment.

Chart of the week: Fleeing Indians

The number of Indians giving up their citizenship has declined over the past two years, though it remains above the 200,000 mark annually. Between 2019 and 2024, more than a million Indians renounced their citizenship, according to data from the external affairs ministry.