The Indian government has unveiled a set of measures intended to steady key sectors as markets open in the new year. The Cabinet approved a relief package for Vodafone Idea, while firms in the gig economy raised payouts for delivery partners and the commerce ministry announced fresh support for exporters facing rising compliance costs overseas. The Reserve Bank of India cautioned about external headwinds but judged domestic fundamentals to be robust.
India economic support measures aim to stabilise markets and exporters
The Cabinet froze adjusted gross revenue dues for Vodafone Idea at ₹87,695 crore and approved an extension of the payment timeline from fiscal 2031-32 to 2040-41. The decision does not waive past liabilities, but it is intended to ease immediate cash-flow pressures, protect the government’s 49 per cent stake and safeguard services for roughly 20 crore subscribers.
Officials said the move is aimed at preventing abrupt disruption in telecom services and preserving competition in a sector that is critical for digital connectivity and economic activity. Analysts noted the relief buys time for Vodafone Idea to manage liabilities and engage in business restructuring, although the company still faces significant long-term challenges.
In labour news, food delivery platforms Zomato and Swiggy increased incentives for delivery partners during the year-end peak. Zomato is offering between ₹120 and ₹150 per order and earnings of up to ₹3,000 for peak shifts. Swiggy promoted peak-hour earnings of up to ₹2,000 and total incentives of up to ₹10,000. The moves came as unions called for a nationwide strike that organisers said could include more than 170,000 workers.
Both companies framed the higher payouts as temporary measures to ensure service continuity during the busiest trading period. Observers said the steps show firms are sensitive to labour pressures in the gig economy and willing to use targeted incentives to limit disruption.
The Reserve Bank of India, in its Financial Stability Report, warned of risks from geopolitical tensions, trade uncertainty and potential corrections in US equities that could raise volatility in Indian markets. However, the central bank emphasised that India’s growth outlook remains healthy, inflation moderate and banking-sector balances supportive. The report suggested policymakers have buffers to deal with short-term shocks.
Separately, the Commerce Department announced a Market Access Support scheme with an outlay of ₹4,531 crore over six years as part of a wider export-promotion mission. The programme, which will begin with ₹500 crore in 2025-26 and clear pending dues of ₹330 crore under earlier schemes, targets MSMEs and first-time exporters. It aims to reduce the impact of the European Union’s Carbon Border Adjustment Mechanism and other measures that are squeezing margins for steel and aluminium producers.
Market participants said the combined set of measures could calm investor nerves and help exporters adapt to shifting regulatory regimes abroad. Policymakers face the dual task of cushioning firms from immediate shocks while encouraging investment and competitiveness over the medium term.
Overall, the government’s actions at the start of 2026 indicate a pragmatic approach: provide targeted relief where systemic risks exist, support labour during peak demand, and equip exporters to meet new global requirements. The immediate effect should be to reduce downside risks for markets; longer-term outcomes will depend on corporate restructuring, global demand and the trajectory of external uncertainties.
Key Takeaways:
- India economic support measures include relief for Vodafone Idea, easing AGR payments and protecting government stake.
- Major food delivery firms raise incentives amid a strike call to support gig workers during peak season.
- RBI warns of external risks but affirms India’s resilient growth and financial stability.
- Government launches a ₹4,531-crore Market Access Support scheme to help exporters tackle EU carbon rules and expand abroad.
