News on Indian Economy
The nine Licensing Agreements for Transfer of Technology, or LAToTs, are intended to enable commercial production of technologies developed by DRDO. The move forms part of a larger effort to shorten the transition from indigenous research and development to industrial production and eventual deployment by the armed forces.
Developed by DRDO’s Defence Laboratory, Jodhpur, the Low Cost Plug-n-Play Thermal Target System, or LC-TTS, has been placed under DRDO’s Transfer of Technology programme. The technology was published for industry participation on September 10, 2026, with two licences currently available.
The Department of Financial Services issued the notification on September 14 under Section 10A of the Payment and Settlement Systems Act, 2007. The notification has been published in the Gazette of India as S.O. 5067(E), under Gazette ID CG-DL-E-14092026-276170.
The figures form part of IFAD’s Sending Money Home 2026: Beyond remittances — From lifeline to resilience, one family at a time, released on September 14. The report examines how migrant remittances have developed into one of the world’s largest and most resilient forms of household finance.
Artificial intelligence will also be used to improve multilingual call handling. The system is expected to incorporate Indian-language speech-recognition technologies so that travellers can communicate more easily in their preferred languages.
CarbonCraft’s approach combines materials engineering with traditional Indian craftsmanship. The technology determines how difficult waste streams can be processed and incorporated into stable construction materials, while artisans manufacture and finish products that can be used as visible architectural surfaces. This combination allows the company to approach waste recycling not merely as an environmental service but as a source of commercially usable building products.
The protocol, signed on September 14, gives electronic Certificates of Origin the same legal validity as their paper counterparts. The change is intended to simplify customs procedures, reduce paperwork and shorten the time required to verify whether goods qualify for preferential tariff treatment under the existing India–MERCOSUR trade agreement.
Inbound Aerospace is a Chennai-based company incubated at the IIT Madras Incubation Cell. IIT Madras Research Park describes the company as developing an autonomous reusable re-entry spacecraft and spaceplane platform for repeatable microgravity and orbital payload-return missions.
The technology has reached Technology Readiness Level 3, meaning the underlying concept has been demonstrated experimentally but remains well short of a production-ready aircraft system. IIT Madras has nevertheless moved the invention into its technology-transfer portfolio and is offering it for licensing, indicating that the research is now being positioned for possible industrial development.
The two SWiFT-K prototypes have reportedly completed High-Speed Taxi Trials at the Aeronautical Test Range at Challakere. These trials are an important step before flight testing because they allow engineers to examine acceleration, braking, steering, ground stability, structural behaviour and flight-control responses as the aircraft approaches take-off speed.
