News on Indian Economy
Both governments completed their domestic ratification and implementation procedures ahead of the July 15 rollout. The agreement was concluded on May 6, 2025, following 14 rounds of negotiations and formally signed in London on July 24, 2025. The Double Contribution Convention was subsequently signed on February 10, 2026.
Approved by the World Bank’s Board of Executive Directors, the programme is expected to generate around 1.7 million employment opportunities across solar equipment manufacturing, installation, logistics, maintenance, financing and associated services. It will also mobilise billions of dollars in private capital for household rooftop solar systems.
Merchandise exports emerged as the principal driver of this expansion. Goods exports increased from $111.57 billion during April–June 2025 to $129.32 billion during April–June 2026, registering growth of 15.92 per cent. The performance reflects broader momentum across engineering goods, electronics, chemicals, gems and jewellery, agricultural commodities and several labour-intensive sectors.
Rice accounted for 114.69 lakh hectares of the total kharif area covered by July 10. This was 10.84 lakh hectares below the 125.53 lakh hectares planted during the corresponding period of 2025.
Petroleum Minister Hardeep Singh Puri has said that maize now contributes around 35% of India’s ethanol output, highlighting the growing importance of grain-based biofuels in the national energy strategy. The development reflects the government’s effort to build a more diversified and dependable ethanol supply chain.
The report estimates that the market has nearly doubled over the past five years, growing from US$56 billion (₹4.16 lakh crore) in FY21 to around US$90 billion in FY26. The sector’s growth is being supported by higher disposable incomes, urbanisation, changing lifestyles and a growing preference for organised dining and digital food ordering.
The collaboration will begin with a pilot facility at an Adani Group site to produce formic acid using captured carbon dioxide and renewable electricity. If the pilot proves successful, the companies plan to scale the technology for commercial production, with the aim of manufacturing chemicals using significantly lower carbon emissions than conventional processes.
The service sits within BSNL’s Global Satellite Phone Service, or GSPS, which has been available to the public and enterprises since 2018. According to the Ministry of Communications, BSNL provides voice call and SMS services through GSPS, and the communication is transferred in encrypted form under Department of Telecommunications guidelines.
The move reflects NTPC’s broader push to diversify beyond thermal power and emerge as a key player in India’s expanding nuclear energy sector. The company has set a target of developing 30 GW of nuclear power capacity, accounting for nearly one-third of India’s national goal of achieving 100 GW of installed nuclear capacity by 2047.
Retail and FMCG companies are expanding their India-based capability centres to support global business priorities. These centres are no longer limited to back-office functions. Many of them now handle advanced work in artificial intelligence, data science, cloud platforms, cybersecurity, e-commerce technology, digital payments, loyalty programmes, consumer analytics and supply chain optimisation.
