News on Indian Economy
India’s armed forces are therefore currently using NavIC in conjunction with other global navigation satellite systems. The government has said that the multi-constellation approach prevents existing users from being left without navigation capability while NavIC’s orbital infrastructure is strengthened.
BRICS therefore needs to think about trade resilience geographically. Major trading relationships between member countries should ideally have more than one commercially viable transport route so that disruption at one corridor does not automatically interrupt the entire flow of goods.
India exported goods worth around $96 billion to BRICS partner countries during 2025-26. ASSOCHAM estimates that this could increase to as much as $200 billion by 2030 if India succeeds in expanding market access, strengthening commercial partnerships and increasing its presence across the growing economies of the grouping.
Recent defence reporting in September 2026 says engineering changes to the LUH have produced an approximately 30–40% reduction in overall vibration response, while vibration in a critical vertical range has reportedly fallen by nearly 50%.
External Affairs Minister S. Jaishankar met Uruguayan Foreign Minister Mario Lubetkin in New Delhi on September 11, 2026, during Lubetkin’s visit for the 18th BRICS Summit. The meeting comes at a time when India is significantly increasing its diplomatic and economic engagement with Uruguay and the wider Latin American region.
Even the World Trade Organization now describes the global economy as increasingly “multipolar and diverse.” Its 2026 World Trade Report notes that low- and middle-income economies accounted for only 23 per cent of global merchandise trade in 1995 but around 45 per cent by 2024. Economic weight has moved considerably beyond the traditional industrial powers, and political influence is beginning to follow it.
A more resilient system would allow companies to choose between several settlement routes rather than depend on one dominant pathway. The objective would not be to replace the dollar everywhere, but to ensure that countries have options when political tensions or sanctions disrupt conventional payment channels.
Previously, restrictive treatment requirements created additional logistical difficulties for South African exporters. Completing cold treatment before shipment can require fruit to remain in specialised facilities before being loaded, extending the export process and potentially affecting fruit quality and shelf life.
Speaking at the India–South Africa Business Leadership Roundtable in New Delhi on September 12, 2026, on the sidelines of the BRICS Summit, Ramaphosa urged Indian companies to look at partnerships in projects that South Africa is preparing for implementation and tendering.
Speaking on the sidelines of the BRICS Business Forum in New Delhi, Guryev said Russian producers had supplied 6.5 million tonnes to India during 2025, representing an increase of around 40% over the previous year and roughly six times the volume supplied in 2021.
