India and Portugal have a deep-rooted and growing partnership that has developed into a modern partnership based on technology, innovation, and sustainability. The bilateral relationship, which dates to the establishment of diplomatic relations in 1975, will celebrate its 50th anniversary in 2025.
Modified Special Incentive Package Scheme (M-SIPS) started in July 2012 as a three-year scheme addressing India’s growing import dependency. In 2015, it underwent its first major revision, extending the program to 2020, adding 15 verticals, and simplifying approval processes to encourage faster investment. By 2017, strategic amendments further expedited procedures and extended deadlines to the end of 2018. Applications closed in December 2018, but implementation continues. In 2020, the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) was launched as a successor, focusing on incentivizing component manufacturing with 25% capital expenditure support.
For nearly 75 years, India and Indonesia have shared strong bilateral ties spanning political, cultural, and economic cooperation. A key pillar of their relationship is the robust palm oil trade, which has become a cornerstone of economic diplomacy for both nations. In 2024, trade between the two reached USD 26 billion, with palm oil and its derivatives alone accounting for USD 4.4 billion of the total. With an output of about 46 million metric tons in 2024-25, accounting for 4.5 percent of its GDP, Indonesia reaffirmed its position as one of the top global producers of crude palm oil.
That is the surest way to avoid home buyers finding themselves stranded with stalled construction instead of homes for which they have borrowed big
Often referred to as the liquid gold of Southeast Asia, palm oil has blossomed into one of the most important commodities globally driving the economic and diplomatic relationships between India and Malaysia. Palm oil is more than just a cooking oil: it is a marker of global interdependence, of food security and environmental stewardship. There has been, for decades, a complex relationship based on India’s growing demand for edible oil as Malaysia became an important supplier.
India and Singapore have come to be two of the most dynamic players in the international fintech and digital payment ecosystem. With India's Unified Payments Interface (UPI) as the pillar of digital transactions and Singapore establishing itself as a global payments hub, the coming together of the two economies in the financial technology space assumes monumental importance.
Electronics has become one of the most important sectors of the 21st century, powering industries from IT to consumer goods and energy transitions. For India and Vietnam, two of the fastest growing economies in Asia, electronics manufacturing is not just about exports but about higher income, jobs and global competitiveness.