News on Indian Economy
The latest step came on 19 August 2026, when Civil Aviation Minister Kinjarapu Ram Mohan Naidu launched the scaled-up phase of India’s air-cargo transshipment programme at the Transshipment Excellence Centre at Delhi’s Indira Gandhi International Airport. The expansion follows a successful trial that dramatically reduced transit time while improving aircraft cargo utilisation.
According to the Ministry of Finance, gross loans outstanding of RRBs increased 10.3% from ₹5,24,163 crore in FY2024-25 to ₹5,78,349 crore in FY2025-26. The expansion reflects the continuing importance of regional rural banks as a source of institutional finance in rural and semi-urban India.
The programme has also achieved another important milestone: 100% Transfer of Technology from the Russian partners has been absorbed by IRRPL, according to the company.
A Universal Account Number, or UAN, provides an employee with a permanent identity within the Employees’ Provident Fund system. It remains linked to the worker even when the individual changes jobs, helping consolidate provident-fund accounts and access social-security services.
The Indian delegation included Finance and Corporate Affairs Minister Nirmala Sitharaman, External Affairs Minister Dr S. Jaishankar, Commerce and Industry Minister Piyush Goyal, and Minister of State for Commerce and Industry and Electronics and Information Technology Jitin Prasada. The fourth ISMR was held in Singapore on August 20, continuing a high-level institutional mechanism established in 2022 to identify new areas of cooperation between the two countries.
India’s Defence Research and Development Organisation is widening private-sector participation in missile and guided-weapon programmes by inviting Indian companies to become Development-cum-Production Partners for projects under its Missiles and Strategic Systems Cluster. The move could significantly expand the country’s industrial capacity for producing advanced indigenous weapons.
The Indian Navy is preparing the groundwork for a new generation of large indigenous guided-missile destroyers that would follow the Project 15B Visakhapatnam class. Often referred to in defence reporting as “Project 18”, the programme remains at the planning stage, but official statements from Mazagon Dock Shipbuilders Limited indicate an initial requirement for four ships and a potential programme value in the ₹70,000–80,000 crore range.
Balu Forge Industries Limited (BFIL) has secured its first commercial purchase order for advanced 155mm Extended Range Full Bore Base Bleed and Boat Tail artillery shells, marking another step in the expansion of India’s private-sector large-calibre ammunition manufacturing base. The initial order covers a pilot supply of 10,000 units, after which deliveries are expected to continue on a monthly basis.
The Floating Dry Dock represents one of the most important additions to MDL’s infrastructure in recent years. The state-owned defence shipbuilder has been developing its Nhava facility as part of a long-term programme to increase capacity beyond its established Mumbai shipyard.
The company describes its objective as developing unmanned aerospace systems for global markets from India, with programmes intended for organisations including the Ministry of Defence, Ministry of Home Affairs, National Disaster Response Force and Department of Telecommunications.
