Banking services in India will be disrupted on March 24 and March 25 due to a nationwide two-day strike called by the United Forum of Bank Unions (UFBU). This means that all private and public sector banks will be closed for 2 days. The strike is in response to several demands, including improved recruitment across all levels, regularization of temporary employees, and the introduction of a 5-day work week in the banking sector.

UFBU is a coalition of 9 bank unions representing over eight lakh employees and officers across public sector banks, private sector banks, foreign banks, cooperative banks, and regional rural banks.

The unions have also voiced their opposition to a recent directive from the Department of Financial Services (DFS) regarding performance-linked incentives and reviews. They argue that such measures create uncertainty for employees and should be revoked.

Key Issues Driving the Strike

According to L. Chandrasekhar, General Secretary of the National Confederation of Bank Employees (NCBE), despite several rounds of discussions, the Indian Banks’ Association (IBA) has failed to address critical concerns, such as:

• Recruitment across all levels to address staff shortages.
• Filling of workmen and officer director positions in public sector banks.
• Withdrawal of performance review and incentive directives from the DFS, which unions claim jeopardise job security.
• Opposition to “micro-management” by the DFS, arguing that excessive intervention undermines the autonomy of bank boards.
• Amendments to the Gratuity Act, seeking an increase in the ceiling to ₹25 lakh, aligning it with the benefits offered to government employees.
• Exemption of gratuity from income tax.

Who is part of the UFBU?

The UFBU represents nine major bank employees’ unions, including:

• All India Bank Employees Association (AIBEA)
• All India Bank Officers’ Confederation (AIBOC)
• National Confederation of Bank Employees (NCBE)
• All India Bank Officers’ Association (AIBOA)
• Bank Employees Federation of India (BEFI)
• Indian National Bank Employees Congress (INBEC)
• Indian National Bank Officers’ Congress (INBOC)
• National Organisation of Bank Workers (NOBW)
• National Organisation of Bank Officers (NOBO)

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

India has made significant achievements in its journey toward ensuring clean energy access and promoting sustainable cooking solutions for its citizens. A key milestone in this endeavour was the introduction of the Public Distribution System (PDS) Kerosene pricing and various initiatives aimed at reducing reliance on kerosene while enhancing access to cleaner alternatives.

Kerosene Pricing and PDS Allocation

Since March 1, 2020, the retail selling price of PDS Kerosene has been maintained at a “NIL under-recovery” level across the country. This decision is part of the government’s efforts to rationalise the use of kerosene, a known pollutant. Kerosene, often used for cooking and lighting, is distributed under the Public Distribution System (PDS), with special allocations provided to states and Union Territories (UTs) for special needs, such as natural calamities, religious functions, fisheries, and yatras.

The government’s forward-thinking policies also empower states to draw one month’s quota of PDS Kerosene at non-subsidized rates during each financial year to meet these special needs. Between 2015 and 2020, the government incentivised states through the Direct Benefit Transfer for Kerosene (DBTK) scheme to voluntarily surrender their PDS kerosene allocations. As of 2023-24, 13 states have successfully transitioned to a Kerosene-free status.

Clean Energy Leadership and International Cooperation

India is actively leading global initiatives to support the clean energy transition. As one of the founding members of the International Solar Alliance (ISA) in 2015 and the Global Biofuel Alliance in 2023, India has shown a strong commitment to adopting clean energy solutions. This is evident from the discussions held during India Energy Week 2025, where India hosted a Ministerial Roundtable on Clean Cooking to share lessons from the Pradhan Mantri Ujjwala Yojana (PMUY) and address challenges faced by the Global South.

Shifting to Cleaner Lighting Alternatives

Kerosene has traditionally been used for lighting in rural areas, but with the introduction of initiatives like Saubhagya (Pradhan Mantri Sahaj Bijli Har Ghar Yojana) and Deen Dayal Upadhyaya Gram Jyoti Yojana (DDUGJY), India has nearly achieved universal electricity access. These efforts have effectively eliminated the need for kerosene lamps for lighting, offering a cleaner and more sustainable alternative for millions of households.

Clean Cooking with LPG

One of the most significant steps toward ensuring clean energy access for all has been the launch of Pradhan Mantri Ujjwala Yojana (PMUY) in May 2016. PMUY aimed to provide free LPG connections to poor households, eliminating the need for harmful cooking methods like using firewood or coal.

In addition to providing free LPG connections, the government also introduced targeted subsidies to ensure sustained usage of LPG. In May 2022, the government started offering a subsidy of ₹200 per 14.2 kg cylinder for up to 12 refills per year for PMUY beneficiaries. In October 2023, the subsidy was increased to ₹300 per 14.2 kg cylinder, making LPG even more affordable. As a result, PMUY consumers can access LPG cylinders at an effective price of ₹503 per cylinder (in Delhi). More than 10.33 crore beneficiaries are now able to avail of these benefits across the country.

Conclusion

India’s commitment to clean energy and clean cooking solutions is clear. With initiatives like PMUY, the push for renewable fuels, and the growing focus on sustainability, India is poised to continue its leadership in clean energy adoption. Through continued innovation and government support, the country is on track to achieve a cleaner, healthier, and more sustainable future for all its citizens.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

India’s mobile phone export industry has achieved a remarkable milestone, with exports crossing ₹1,82,448 crore (US$ 21 billion) in the first 11 months of FY25. This exceeds the forecast made by Union Minister for Railways, Information and Broadcasting, and Information Technology, Mr Ashwini Vaishnaw, who had estimated exports to reach ₹1,73,760 crore (US$ 20 billion) by the end of the financial year. With one month still to go, this marks an impressive 54% growth compared to the same period in FY24, according to the India Cellular & Electronics Association.

Apple’s Dominance and the Rise in Smartphone Exports

Independent reports suggest that Apple Inc. has played a major role in this growth, contributing around ₹1,25,000 crore (US$ 14.39 billion) to the total exports. Notably, iPhone exports have been responsible for nearly 70% of the total smartphone exports from India.

Q1 FY25 saw smartphone exports reach ₹42,137 crore (US$ 4.85 billion), reflecting a 30% increase from Q1 FY24. The first half of FY25 saw a similar trend, with exports totalling ₹72,979 crore (US$ 8.4 billion), marking a 30% rise from ₹56,472 crore (US$ 6.5 billion) in H1 FY24.

Q3FY25 was the most significant yet, with monthly exports surpassing ₹17,376 crore (US$ 2 billion), culminating in a total of ₹59,078 crore (US$ 6.8 billion) for the quarter. In the first two months of Q4 alone, another ₹48,653 crore (US$ 5.6 billion) was added to the total, taking the exports to an impressive ₹1,82,448 crore (US$ 21 billion).

Steady Growth in Monthly Exports

Since October 2024, India’s monthly mobile phone exports have consistently exceeded ₹17,376 crore (US$ 2 billion), a significant improvement from the peak of ₹14,248 crore (US$ 1.64 billion) in FY23 and ₹16,507 crore (US$ 1.9 billion) in FY24. The major contributors to this surge are Apple’s vendors, including Foxconn, Tata Electronics, and Pegatron, which together account for 70% of India’s mobile phone exports. Samsung and Indian brands contribute the remaining portion.

The United States and Europe continue to be vital markets for India’s mobile phone exports, with 50-55% of the exports heading to the US. In fact, smartphones have now surpassed non-industrial diamonds as India’s largest export to the US by Harmonised System classification.

Government Support and Future Prospects

The Indian government is actively exploring a production-linked incentive (PLI) scheme to encourage greater value addition in mobile phone manufacturing and to integrate more Indian micro, small, and medium enterprises (MSMEs) into global supply chains. This initiative is expected to further boost the export potential of India’s mobile phone sector, strengthening its position in the global market.

Conclusion

India’s growing mobile phone export sector highlights the country’s increasing prominence in the global electronics manufacturing landscape and underscores the critical role of companies like Apple and Samsung in this success. With continued government support and a strong export trajectory, India is poised to maintain this momentum well into the future.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.