(Utkarsh Patel)

A remarkable figure from Surat and well known among the city’s business community Jayesh Desai is the founder and chairman of the Rajhans Desai-Jain Group. A visionary entrepreneur he began with a small edible-oil unit in Surat and has built the vast Rajhans empire which today spans multiple sectors and generates a turnover of hundreds of crores. His journey truly embodies the group’s slogan “Wings of Happiness”.

Jayesh Desai was born in the small village of Parvadi in Bhavnagar district into a family of modest means. After completing primary education he moved to the dream city of Mumbai and took up a job. However he soon returned to his village to help his father in the family business. It was during this period that he experienced the harsh realities of life yet he possessed an extraordinary passion for hard work. Eventually he moved to Surat where with limited capital he launched a new venture. From that modest beginning his wings of success have continued to spread without pause.

In 1996 Jayesh Desai established the Rajhans Group with a small edible-oil unit that produced filtered groundnut and cottonseed oil. Thanks to his far-sighted vision and sharp business acumen the group expanded rapidly. Today the Rajhans Group is actively engaged in real estate (Rajhans Realty) cinemas (Rajhans Cinemas with more than 160 screens) hospitality confectionery (Schmitten Chocolates) textiles and several other sectors. The group has completed construction of over 30 million square feet of space and its customers remain highly satisfied.

His achievements have been widely recognised. He has featured in Forbes India’s “Indian Business Legends” (2021) and “India’s 100 Richest” (2022). He has also received numerous prestigious awards including ET Inspiring Leader Gujarat Ratna and Entrepreneur of the Year.

Jayesh Desai’s family life is exceptionally harmonious. He shares a close and affectionate bond with his brother Vijay Desai who is actively involved in the group. The entire family is often seen together at public events. Recently they attended the wedding of Sachin Tendulkar’s son as a united family. Jayesh Desai regards his employees as part of the “Rajhans Family” and treats them accordingly.

He is a patient enthusiastic optimistic and calculated risk-taker. His special talent lies in identifying business opportunities at the right time and implementing them with precision. He firmly believes that it is not the leader alone but teamwork that delivers results. He places customer satisfaction at the centre of everything and gives paramount importance to the principle of “customer happiness through delightful products and services.”

It is particularly noteworthy that Jayesh Desai holds deep respect and devotion for Prime Minister Narendra Modi. He and his family have had the honour of meeting the Prime Minister – an experience they describe as “a moment of pride for the entire Rajhans Family.” He fully supports Prime Minister Modi’s vision of development.

By balancing wealth prosperity and achievement with humanity Jayesh Desai’s life message serves as an inspiring example for the youth of Gujarat: with self-confidence hard work calculated courage and a humane approach any goal can be achieved.

(The writer is a prominent businessman, social worker and founder of khabarchhe.com)

A 20-year-old Gujarati boy was a star cricketer at the 112-year-old Sydenham College in Mumbai, which is famous worldwide for commerce and finance. He could have become a big cricketer like Sunil Gavaskar.

But destiny had other plans. During a college match, while running for a run, a ball hit his head. He suffered a brain hemorrhage and had to undergo brain surgery. He remained bedridden for months. His dream of playing for the Indian cricket team ended.

That young man was Uday Kotak.

He then chose a different path and entered the finance sector. His family had a cotton business, but he did not want to join it. He also received a job offer from Hindustan Unilever Limited, but he did not want to do a job either.

In 1985, he borrowed ₹30 lakh and started Kotak Finance with just 3 people and a small 300-square-foot office. At that time, investors earned 6% interest and loans were given at 12%. He changed this by offering investors 9% interest and giving loans at 11%. The business started growing.

In 2003, he created history by converting his finance company into Kotak Mahindra Bank. From a small finance firm, he built the fourth-largest private bank in India.

During the 2008 financial crisis, the government sought his support. He partnered with Goldman Sachs, sold a stake, and later bought it back. Today, he is considered one of India’s most respected bankers. His net worth is around ₹1.2 lakh crore, and his bank’s market capitalization is about ₹4 lakh crore.

The government has now appointed him Chairman of Gujarat International Finance Tec-City (GIFT City). Experts believe he can take GIFT City to new heights.

What is GIFT City and What Are the Challenges?

GIFT City, located in Gandhinagar, is a special financial zone where foreign currency trading takes place. The government has declared it tax-free for 20 years to attract domestic and foreign investors.

Currently, Mumbai dominates India’s financial sector, so GIFT City competes with Mumbai. Offices have opened and work has begun, but it is still behind Mumbai.

Another challenge is lifestyle. Foreign companies prefer locations with good education, healthcare, and nightlife facilities for their staff. The government has made improvements, especially easing restrictions related to nightlife.

Earlier, IAS officers usually headed GIFT City. Hasmukh Adhia was its chairman. By appointing Uday Kotak, the government has chosen a successful banker instead of a bureaucrat. Many believe this is a positive and bold step.

Union Commerce and Industry Minister Piyush Goyal made a major announcement during a press conference on the India–US trade deal. He listed the products on which the United States will impose 0% tariffs for India, including pharmaceutical products as well as aircraft and machinery parts.

After the framework for the interim trade agreement between India and the US was released, the minister shared detailed information on Saturday. He clearly stated that India has not offered any concessions to the US on agricultural and dairy products in order to protect farmers’ interests.

He said the US is offering zero duty on several Indian exports, including gems and jewellery, diamonds, medicines, spices, and many other goods.

Products with 0% Tariff

Gems and diamonds, pharmaceutical products, smartphones, spices, tea and coffee, coconut and coconut oil, vegetable oil, cashew nuts, fruits and vegetables such as bananas, mangoes, pineapples and mushrooms, root vegetables, processed foods like guava jam, aircraft parts, machinery parts, essential oils, aluminium parts, zinc oxide, minerals, natural rubber, and other natural products are included.

No Concessions on Agriculture and Dairy

The minister said India has not given any concessions on dairy or sensitive agricultural products. Items such as meat, poultry, dairy products, soybeans, maize, rice, wheat, millet, sorghum, tobacco, ethanol, and several other goods remain outside any tariff relaxation.

$30 Trillion Market Opens Up

Piyush Goyal said the agreement will open access to the nearly $30 trillion US economy for Indian exporters at lower tariffs. On some products, US tariffs are being reduced from around 50% to nearly 18%, which is lower than the rates faced by several competing countries.

He described the deal as an important step toward India’s goal of becoming a developed nation by 2047 and said it would help achieve the target of $500 billion in bilateral trade between India and the United States. The agreement is expected to create new opportunities for Indian industries and exporters in the coming years.

The objective of this agreement was to achieve $500 billion in annual bilateral trade between India and the United States. The day this goal moves closer is being described as one that will be written in golden letters. A wave of optimism is being seen across the country, with strong enthusiasm in every sector about the future. It is believed that new opportunities will emerge in the coming years, and that the United States — the world’s largest economy, worth nearly $30 trillion — will become an even more important and preferred market for Indian exporters

Zomato founder Deepinder Goyal has sparked a new debate in the corporate world by inviting former employees to return, highlighting the growing trend of “boomerang employees,” which is reshaping talent retention and recruitment practices in India and globally.

In a corporate world where layoffs can happen overnight and exits are often final, Goyal took a different approach. In a recent post on X, he invited former employees to rejoin the company, saying the door had never truly closed. He stated, “If you left the company, or ever had to leave, the door is not closed. If you want to come back, please do so.”

The company, now under Eternal, says it is more structured and self-aware, sending a rare message in modern corporate life: former employees are welcome to return. More than 400 employees have already rejoined, some for the second or even third time. This reflects the growing HR trend of boomerang employees—professionals who leave, gain experience elsewhere, and later return with new skills and perspective.

What is a Boomerang Employee?

A boomerang employee is someone who leaves a company and later returns to work for the same organisation. The term comes from a boomerang, an object that returns after being thrown. Similarly, employees leave to gain experience and eventually come back with improved skills and a broader outlook.

Former employees often understand company culture, adapt quickly with teams, require less training, and bring new external experience. These factors make boomerang hiring beneficial for organisations.

The idea gained momentum after the COVID era, when job markets became unstable and millions changed roles quickly. Companies realised that rehiring trusted former staff was faster and more effective than hiring and training new employees from scratch. Today, in many organisations—especially in the tech sector—boomerang employees account for every third or fourth hire.

The trend is global. Companies such as Google, Microsoft, Deloitte, and McKinsey maintain alumni networks to stay connected with former staff. Meta has also rehired employees in improved roles after layoffs, showing a shift toward maintaining long-term professional relationships.

Deepinder Goyal founded Zomato in 2010 as a restaurant listing website. It later expanded into one of India’s largest food-tech companies, adding services such as quick commerce through Blinkit, supply solutions via Hyperpure, and social initiatives like Feeding India.

The rising trend of boomerang hiring shows that the corporate world is now focusing on maintaining relationships rather than breaking them. By rehiring experienced and trusted former employees, companies are building faster, more effective, and stronger teams.

Elon Musk, the world’s richest person, has crossed a net worth of $850 billion (about ₹77 lakh crore). His wealth increased by $84 billion in just one day. According to Forbes, he is now the richest person in history. His wealth grew after the merger of his rocket company SpaceX and AI startup xAI.

In the last four months, Musk’s net worth has grown by 70%. In October 2025, it was $500 billion. Now, his wealth is higher than the combined GDP of Pakistan, Sri Lanka, Bangladesh, and Nepal. It is also more than the total wealth of India’s top 40 richest people.

SpaceX and xAI Merge to Form $1.25 Trillion Company

SpaceX has merged with xAI to form one large company valued at $1.25 trillion (about ₹104 lakh crore). Before the merger, Musk owned 42% of SpaceX worth $336 billion and 49% of xAI worth $122 billion. After the merger, he owns 43% of the new company, valued at $542 billion. This deal increased his net worth by $84 billion.

Four Major Records in Four Months

In October 2025, Musk became the first person to reach $500 billion in net worth. On December 15, he crossed $600 billion as SpaceX’s value increased. On December 19, after Tesla stock options were restored by a court, he crossed $700 billion. In January 2026, the SpaceX and xAI merger pushed his net worth to $850 billion.

Far Ahead of Other Billionaires

Musk is far ahead of the second-richest person, Google co-founder Larry Page, who has a net worth of $281 billion. Musk is $578 billion richer than him. If his wealth keeps growing like this, he could become the world’s first trillionaire.

Musk’s Major Companies

Tesla was founded in 2003 by Martin Eberhard and Marc Tarpenning. Musk joined as an early investor in 2004 and later became CEO. Tesla focuses on electric vehicles and clean energy.

SpaceX was founded by Musk in 2002 to reduce the cost of space travel and support future missions to Mars. The company launched its first successful rocket in 2008 and sent a Dragon capsule to the International Space Station in 2012.

Neuralink was founded in 2016 to develop brain-computer technology. Its goal is to treat brain diseases and help humans work better with artificial intelligence.

Several Indian sectors that had lost competitiveness in the US market due to steep tariffs are set to benefit after the United States reduced import duties on Indian goods from 50 % to 18 %. The impact of this decision was clearly visible in the Indian stock market on Tuesday, February 3, as export-oriented stocks moved sharply higher.

The tariff reduction is expected to significantly support Indian exports by improving margins and restoring competitiveness in the US market. Positive signals are emerging across key sectors such as textiles, chemicals, auto components, seafood, and engineering goods.

How High Tariffs Hurt Indian Exporters

In 2025, the US sharply increased tariffs on several Indian products, with duties rising as high as 50 % in some categories. One of the major reasons cited was India’s continued purchase of Russian oil, which strained trade relations with the US.

As a result, Indian exporters suffered heavy losses. Many sectors lost market share in the US, export orders declined, and company profits came under pressure. However, the recent tariff rollback is expected to provide major relief and revive export momentum.

US President Donald Trump stated on Truth Social that the concession was granted at the request of Prime Minister Narendra Modi. India, in return, has committed to reducing tariffs and non-tariff barriers on American goods and increasing purchases of US energy, technology, and other products. This move is expected to further strengthen economic ties between the two countries.

Sectors Expected to Benefit the Most

Textiles and Apparel (Textiles and ready-made garments)
The textile and apparel sector is expected to be the biggest beneficiary. India exports a large volume of garments and textiles to the US. Earlier, high tariffs made Indian products expensive, forcing US buyers to shift to alternative sourcing countries. With tariffs reduced to 18 %, Indian textiles will become more competitive, leading to higher orders and improved profit margins.
Shares of companies such as Vardhman Textiles rose by more than 10 % following the announcement.

Chemicals
The chemical sector is also likely to see strong gains. India exports a wide range of chemical products to the US, and lower tariffs will enhance price competitiveness. This is expected to lead to higher exports and better order visibility. Major companies such as UPL, SRF, and Jubilant Ingrevia benefited, with their shares rising 5–7 % on Tuesday.

Seafood
Seafood exports, including shrimp and fish, form a significant part of India–US trade. The US is one of the largest markets for Indian seafood products. Lower tariffs will make these products cheaper, boosting demand and export volumes.

Auto Ancillaries and Engineering Goods
Auto component manufacturers and engineering goods exporters are also expected to benefit. High tariffs earlier had squeezed margins and reduced competitiveness. With tariff relief, companies will see improved margins and better order visibility.
Bharat Forge shares gained around 7 %, while Ramkrishna Forgings surged up to 10 % during Tuesday’s trading session.

Gems and Jewellery
Exports of diamonds and gold jewellery are expected to rise as well. India is a global leader in diamond cutting and jewellery exports. Reduced tariffs will help Indian exporters regain lost market share in the US.

Consumer Exports
Consumer-focused export companies are also set to gain. LT Foods earns nearly 39 % of its total revenue from the US, making it its largest market. Lower tariffs will reduce prices of products such as basmati rice and ready-to-eat foods, leading to higher sales and improved margins.
Tata Consumer Products derives around 12 % of its revenue from the US through exports of tea, coffee, salt, and spices. Increased competitiveness is expected to boost demand.
KRBL, another major basmati rice exporter, earns about 10 % of its revenue from the US. The company had suffered due to high tariffs, but the recent reduction is expected to ease export pressures and

strengthen its position.

In addition, labour-intensive sectors with high employment potential are also expected to benefit from the tariff rollback.

Market Reaction

The Indian stock market reacted positively to the announcement. Nifty futures moved higher, the rupee strengthened, and shares of several export-oriented companies surged between 5 and 18 %. Investors viewed the development as a major positive, as it removes uncertainty and improves export prospects.

However, not all sectors have received complete relief. Products such as steel, aluminium, automobiles, timber, and copper remain subject to Section 232 tariffs of 25 % or more. Despite this, the overall deal is being seen as highly beneficial for India.

With exports expected to rise, employment opportunities to expand, and corporate profits to improve, the Indian economy is likely to gain fresh momentum. At the same time, the US will benefit from increased trade engagement with India.

Mumbai: The United States government reaffirmed its commitment to a strong, results-oriented energy partnership with India during India Energy Week (IEW) 2026, held January 27-30 in Goa. Acting Consul General Mike Schreuder led a U.S. delegation in engagements focused on expanding energy trade, strengthening infrastructure, and advancing technology cooperation-highlighting the growing economic and strategic importance of U.S.-India energy ties.

"The United States and India are building an energy partnership that delivers real benefits for our people," Acting Consul General Schreuder said. "Our cooperation is centered on action-expanding reliable American energy exports, promoting transparent and market-driven growth, and supporting affordable, dependable energy supplies. These efforts strengthen energy security, support economic growth, and create opportunities."

During the week, the U.S. delegation met with Indian national oil companies and industry leaders to discuss increasing imports of American hydrocarbons and civil nuclear energy technologies. The United States currently supplies approximately 10 percent of India's liquefied petroleum gas (LPG) demand, and discussions explored opportunities to expand long-term contracts for U.S. crude oil and liquefied natural gas (LNG). U.S. energy exports offer India a reliable and flexible supply option to meet its growing demand while supporting American jobs and production. As India seeks to expand civil nuclear power, U.S. companies offer a global track record of success.

The United States and India also underscored the role of innovation in building a secure energy future. Both countries are investing in advanced technologies, including smart grids and next-generation energy systems for a more resilient and reliable energy network.

The U.S. Consulate General Mumbai remains committed to advancing U.S.-India energy cooperation through continued engagement, increased trade and investment, and the promotion of practical, forward-looking solutions that support prosperity and energy security for both nations.

A few years ago, after witnessing the rapid prosperity of Surat, a senior political leader from Saurashtra brought together land mafias and formed a gang that came to be known as the Mahakal Group. The sudden raid by the Income Tax Department’s DDI wing on the mastermind of this Mahakal Group in Surat has sent shockwaves.

Earlier, the government had neutralized several associates of this gang. However, questions are now being raised: Does the Mahakal gang still exist, or is this the final blow against it? Will all its remaining members now be completely eliminated?

As land prices in Surat skyrocketed, a senior political leader from Saurashtra formed a gang of around 30 people nearly five years ago. According to a report published by *Divya Bhaskar*, the gang included 10 land mafias, 4 journalists, 2 gangsters, along with politicians, lawyers, and chartered accountants. The gang created immense terror in Surat, leaving industrialists deeply distressed.

Eventually, the matter reached the Prime Minister, following which strict action was taken. Over time, the gang dispersed, but some individuals continued operating independently and reportedly received backing from powerful quarters. It is said that some associates of the gang attempted to reassert themselves.

The main accused had purchased six luxury cars. During the IT raids, approximately ₹1.3 crore in cash, luxury vehicles, and several important documents were seized. The IT team conducted raids at multiple locations starting Wednesday morning. Following these raids, panic has spread among other associates of the Mahakal Group. Gradually, more information about them is emerging, and details of their alleged scams are expected to surface further in the coming days.

The World Economic Forum (WEF) 2026 meeting is underway in Davos, Switzerland, and the eyes of the world are fixed on it. Leaders, ministers and top business figures from nearly 130 countries have gathered at a time when the global economy is facing uncertainty. Rising trade tensions between China and the United States, along with India-US trade issues, are among the major topics being discussed.
The theme of this year’s conference is “A Spirit of Dialogue,” which highlights the need to solve problems through discussion rather than conflict.

For a long time, China and the US have been imposing heavy import taxes on each other. The US has raised tariffs on Chinese technology, electronics and manufacturing goods. In response, China has imposed duties on American farm products, automobiles and industrial items. This tariff war has affected the entire world. Global supply chains have been disturbed and inflation pressure has increased in many countries.

Speaking in Davos, Chinese representatives said, “There are no winners in a trade war. Cooperation is the only way forward.” The US side also showed interest in talks, but made it clear that it would protect its economic interests.

Many people are asking whether Davos will bring real solutions or remain only a place for speeches. Experts say that the World Economic Forum is not a platform where treaties are signed, but it helps decide the direction of global policy. This time, some positive signs have appeared. The US has talked about creating a possible framework for tariff agreements, while China has promised to open its markets further for investment. Big decisions may not happen immediately, but the door for dialogue seems open.

India-US trade issues are also part of the discussions. The US has imposed tariffs on some Indian steel, aluminium and textile products, while India has placed duties on certain American goods in return. At Davos, India presented itself as a reliable global partner. Indian officials spoke about cooperation in areas such as investment, semiconductors, artificial intelligence, the digital economy and manufacturing. India’s message is clear — partnership, not confrontation.

These trade tensions are already affecting stock markets around the world. Investors remain uncertain and the prices of many products may rise, putting pressure on ordinary people. Economists believe that if Davos helps move talks forward, the global economy could get some relief.

This year’s WEF has brought together nearly 3,000 global leaders and CEOs, along with more than 60 heads of state. Important issues like trade, technology, climate change, security and investment are on the agenda. Davos is no longer just a conference; it has become a key platform for shaping global policy.

Davos 2026 is sending a signal that the world wants a way out of the trade war. China and the US are trying to restart dialogue, India is focusing on partnerships, and there is a shared effort to stabilize the global economy. Now the big question remains — will these discussions turn into real action, or stay only on paper?

Mukesh Ambani leads the wealth race in India. He is the only Indian to join the $100 billion club. However, several other industrialists and businessmen also have wealth in billions of dollars. Let's take a closer look at these top 10 billionaires.

1. Mukesh Ambani

Net worth: ~$104.6 billion
Company: Reliance Industries (RIL)
Key sectors: Oil, petrochemicals, retail, telecom
Specialty: India's richest person, alone in the $100 billion club
Story: Ambani transformed Reliance Industries from an oil and petrochemicals company into a multinational conglomerate. The launch of Jio revolutionized the telecom sector.

2. Gautam Adani

Net worth: ~$62.3 billion
Company: Adani Group
Key sectors: Energy, ports, airports, infrastructure
Specialty: India's second-richest person, also a major global investor
Story: Adani Group has made major investments in ports, energy, and infrastructure. His group owns many of India's largest infrastructure projects.

3.  Savitri Jindal

Net worth: ~$36.4 billion
Company: OP Jindal Group
Key sectors: Steel, construction, infrastructure
Specialty: India's richest woman
Story: Savitri Jindal took over her husband's company and made it a leader in the steel and construction industry.

4. Shiv Nadar

Net worth: ~$35.8 billion
Company: HCL Technologies
Key sector: IT and technology
Specialty: India's leading IT entrepreneur
Story: By founding HCL, Nadar played a major role in bringing India into the global IT market.

5.  Dilip Shanghvi

Net worth: ~$25.5 billion
Company: Sun Pharma
Key sector: Pharmaceuticals
Specialty: India's leading pharmaceutical tycoon
Story: Through Sun Pharma, he brought generic drugs to the global stage.

6.  Lakshmi Niwas Mittal

Net worth: ~$24.2 billion
Company: ArcelorMittal
Key sector: Steel
Specialty: Leader in the global steel industry
Story: Mittal expanded steel production worldwide and made ArcelorMittal a global leader.

7. Kumar Birla

Net worth: ~$21.1 billion
Company: Birla Group
Key sectors: Industry, finance, investments
Specialty: Major investor in business and industry
Story: Kumar Birla developed the group's various industries and built its reputation globally.

8.  Cyrus Poonawalla

Net worth: ~$20.2 billion
Company: Serum Institute of India
Key sectors: Vaccines and pharmaceuticals
Specialty: Founder of the world's largest vaccine manufacturer
Story: Poonawalla led India to global leadership in vaccine production, especially during COVID-19.

9. Radha Kishan Damani

Net worth: ~$15.5 billion
Company: DMart
Key sectors: Retail and investments
Specialty: A leader in the retail sector
Story: Damani transformed the retail market in India through DMart and is also active in investments.

10. Uday Kotak

Net worth: ~$14.8 billion
Company: Kotak Mahindra Bank
Key sector: Banking and finance
Specialty: Banking leader
Story: Uday Kotak built Kotak Mahindra Bank into a leader in the financial sector and fostered innovation.

Surat—long recognised for its diamond polishing and textile manufacturing—has emerged with a powerful new global identity. Leaving behind conventional fabric printing techniques, the city has positioned itself as India’s Digital Printing Capital, drawing international attention for its rapid technological advancement.

Currently, Surat houses over 1,500 state-of-the-art digital fabric printing machines, accounting for a substantial share of India’s total digital textile output. This transformation has firmly placed the city on the global textile value chain as a centre of innovation and speed.

What Is Digital Printing?

Digital printing is a modern textile printing process in which designs are printed directly onto fabric using advanced digital technology. The method enables manufacturers to produce highly intricate patterns, vibrant colours and customised designs with exceptional accuracy.

Unlike traditional printing, digital printing ensures faster production cycles, minimal fabric wastage and greater flexibility. From fashion apparel and home furnishings to customised fabric solutions, Surat’s digital printing industry is redefining efficiency and creativity in textile manufacturing.

Why Surat’s Digital Printing Industry Is in the Spotlight

Fast Fashion: Speed as a Competitive Advantage

Textile experts note that the global fashion industry is increasingly driven by the concept of fast fashion. Digital printing has empowered Surat-based manufacturers to replicate designs showcased at international fashion shows and bring them to market within just 24 hours.

This unmatched turnaround time has given Surat a clear advantage over established fashion hubs such as Mumbai and Delhi.

Environment-Friendly and Sustainable Technology

At a time of growing environmental concerns, Surat’s digital printing sector has emerged as a sustainable alternative to traditional screen printing. The technology consumes 80 to 90 per cent less water, supports Zero Liquid Discharge (ZLD) initiatives and significantly reduces chemical waste and pollution.
As a result, digital printing is increasingly being adopted by environmentally conscious brands and exporters.

Boost for Startups and Small Businesses

Digital printing has eliminated the long-standing barrier of minimum order quantity (MOQ). Today, emerging designers and small businesses can order as little as 20 to 50 metres of customised fabric.

This shift has opened new opportunities for thousands of boutiques, independent designers and startups, enabling them to enter the textile market with lower investment and greater design flexibility.

Growing Global Export Demand

Digitally printed fabrics manufactured in Surat are witnessing rising demand in Gulf countries, Europe and African markets. International buyers are increasingly prioritising Surat-based manufacturers for their consistent quality, innovative designs and rapid delivery timelines.

Industry leaders estimate that Surat’s digital printing capacity could increase by nearly 30 per cent by 2026. Government initiatives such as ‘Make in India’, improved infrastructure and continued technological innovation have further accelerated the sector’s growth.

Once known primarily as India’s Silk City, Surat is now firmly establishing itself as a global Digital Textile Hub, shaping the future of fabric printing on the world stage.

The Reserve Bank of India (RBI) has released an important update on the status of ₹2000 currency notes that were withdrawn from circulation in May 2023. According to data available up to December 31, 2025, the complete return of these high-denomination pink notes has still not been achieved.
At the time of withdrawal, ₹2000 notes worth ₹3.56 lakh crore were in circulation. As of the end of 2025, 98.41% of these notes have been returned, while ₹5,669 crore worth of notes remain with the public, the RBI said Only ₹148 Crore Returned in the Last Two Months

The RBI noted that while the pace of return was rapid in the initial months following the withdrawal, it has now slowed significantly.

As of October 31, 2025, ₹2000 notes worth ₹5,817 crore were still in circulation. By December 31, 2025, this figure had declined marginally to ₹5,669 crore.
This means that only ₹148 crore worth of notes were returned over the last two months, indicating a sharp slowdown in the return process.

The central bank reiterated that despite being withdrawn from circulation, ₹2000 notes continue to remain legal tender until they are completely withdrawn. 

Why Were ₹2000 Notes Withdrawn?

The ₹2000 notes were introduced in November 2016 following the demonetisation of ₹500 and ₹1000 notes. Once sufficient currency of other denominations became available in the economy, the RBI decided to withdraw the ₹2000 notes from circulation under its Clean Note Policy on May 19, 2023.

 Where Can ₹2000 Notes Still Be Exchanged?

Initially, the RBI allowed the exchange and deposit of ₹2000 notes at all bank branches until October 7, 2023. After a substantial reduction in the number of notes in circulation, the facility was restricted to 19 RBI offices across the country.

These offices are located in Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, and Thiruvananthapuram. Additionally, for public convenience, the RBI has also enabled the facility to send ₹2000 notes through India Post from any post office for exchange.