Updates on 17 September 2026
All of September 2026 →GIFT City Rises to 37th Position in Global Financial Centres Index 2026
Gujarat International Finance Tec-City (GIFT City) secured the 37th spot globally in the Global Financial Centres Index (GFCI) 40 published in September 2026, climbing nine places from its previous position. It is the only Indian financial centre ranked in the top 15 within the Asia-Pacific region. Additionally, GIFT City ranked 26th in the FinTech category. The rankings assess competitiveness based on over 140 factors including business environment, infrastructure, human capital, and financial sector development. Regulated by the International Financial Services Centres Authority (IFSCA), GIFT City is emerging as an important hub for international financial services and cross-border transactions, reflecting India's growing presence in global finance.
Fujifilm’s ₹800 Crore Investment in India’s Semiconductor Materials Manufacturing Facility
Japanese multinational Fujifilm has announced a ₹800 crore investment to establish a greenfield semiconductor materials manufacturing facility in India. The project, set to begin its first phase in October 2026 with commercial production by FY 2028, aims to bolster local semiconductor supply chains by producing key front-end process chemicals and, in subsequent phases, semiconductor surface conditioning materials and high-purity chemicals. This initiative aligns with India Semiconductor Mission 2.0, reflecting India’s strategic push to become a global semiconductor manufacturing hub.
Oman Promotes Sohar Port as India’s Gulf Energy and Trade Route
On 16 September 2026, Oman promoted Sohar Port in New Delhi as a strategic gateway for India's energy imports and trade flows from the Gulf region. Sohar Port is located on the Gulf of Oman coast, outside the Strait of Hormuz, reducing geopolitical risks associated with this vital oil transit chokepoint. The port, with an annual cargo handling capacity of 72 million tonnes and over $30 billion in investments, is linked to energy infrastructure in the UAE and eastern Saudi Arabia. The India-Oman Comprehensive Economic Partnership Agreement (CEPA), effective from 1 June 2026, further strengthens bilateral trade and provides a framework to enhance connectivity via Oman’s ports for India’s energy security and trade diversification.
US FY2027 Major Drug Transit and Illicit Drug Producing Countries List: India, China, and Pakistan Included
The United States has released its Fiscal Year 2027 (FY2027) Presidential Determination on Major Drug Transit or Major Illicit Drug Producing Countries, naming 23 countries including India, China, and Pakistan. This list identifies nations involved in significant drug transit or illicit production based on geographic, commercial, and economic factors facilitating drug movements. While inclusion does not necessarily indicate failure in anti-narcotics efforts, the US highlights China’s role in precursor chemical production, India's strides in opium control, and Pakistan’s designated transit status. Countries such as Afghanistan, Bolivia, Burma, and Colombia were separately identified as having failed demonstrably in counternarcotics efforts. This annual designation shapes US counternarcotics policy and international cooperation priorities.