Economy

News on Indian Economy

Ladakh’s Geothermal Leap: ONGC Pact Extension Pushes India’s First Hot-Rock Power Project Forward

The project is located in Puga Valley, a high-altitude geothermal field in Ladakh’s Changthang region, at over 14,000 feet. Unlike solar or wind power, geothermal energy does not depend on sunlight, cloud cover or wind speed. It taps heat stored beneath the Earth’s surface and converts it into usable energy through hot fluids and steam. For Ladakh, where winter conditions are severe and energy logistics are difficult, this makes geothermal power especially valuable. It can provide a steadier renewable-energy source while reducing dependence on transported fossil fuels.

Gujarat and Tamil Nadu Space Manufacturing Hubs Can Give India’s Private Space Sector a Powerful Industrial Base

This approach directly supports India’s post-2020 space-sector reforms. The Indian Space Policy 2023 opened the door for greater participation of non-government entities across the space value chain, including manufacturing, launch vehicles, ground infrastructure, satellite operations, remote sensing, navigation and space-based services. The policy also identifies IN-SPACe as the single-window body to promote, guide and authorise private participation in the sector.

HMT Kalamassery’s South Africa Export Signals India’s Renewed Push in Precision Manufacturing

During the visit, the Minister reviewed the operations of HMT’s Machine Tool Division, Foundry Division and strategic manufacturing sections. He also inspected manufacturing, assembly and testing processes related to CNC systems, precision machine tools, specialised engineering equipment and indigenously developed Sonar Directing Gear systems used for Indian Naval platforms. This defence-linked capability gives the visit a deeper strategic meaning, because HMT is not only serving commercial industry but also supporting India’s self-reliance in sensitive engineering domains.

India Post and Flipkart Join Hands to Strengthen Last-Mile Parcel Delivery Across India

The agreement was signed in New Delhi by Shri Neeraj Kumar Jha, General Manager, Parcel Directorate, Department of Posts, and Shri Harvinder Kapur, Director – Commercial, Flipkart India Private Limited. Senior officials from both organisations were also present during the signing ceremony, marking an important institutional step in the growing convergence between public logistics infrastructure and India’s private digital commerce ecosystem.

India’s Cold Water Fisheries Emerging as a Key Pillar of the Blue Economy

Cold-water fisheries are practiced in high-altitude snow-fed rivers, streams, lakes, and reservoirs with temperatures ranging between 5°C and 25°C, dissolved oxygen above 6 mg/L, and pH levels between 6.5 and 8.0. Species such as rainbow trout, golden mahseer, and snow trout are cultivated using specialized infrastructure including hatcheries, raceways, RAS, biofloc systems, and cold chain facilities. Trout farming is generally practiced above 1,500 metres altitude, while mahseer culture is suitable at relatively lower elevations.

RBI’s ₹2.87 Lakh Crore Surplus Transfer Gives Centre a Major Fiscal Cushion for FY26

The size of the transfer reflects the strength of the RBI’s balance sheet during FY26. According to the available details, the central bank’s balance sheet expanded by 20.61% to ₹91.97 lakh crore as of 31 March 2026. Its gross income rose by 26.42%, while expenditure before risk provisions increased by 27.60%. Net income before risk provisions and transfers to statutory funds stood at ₹3,95,972.10 crore, compared with ₹3,13,455.77 crore in the previous year.

India’s Data Centre Boom Could Create One Lakh Engineering Jobs, Says Dr Jitendra Singh

According to the Minister, India’s data centre capacity is projected to expand sharply from around 1.5 GW to nearly 6.5 GW by 2030. This growth is expected to create new employment opportunities for engineers and technical professionals in areas such as artificial intelligence systems, cooling technologies, smart grids, renewable energy integration, secure digital infrastructure and advanced data management systems.

CII-Cyprus Chamber MoU Opens New Pathway for India-Cyprus Trade, Investment and Technology Cooperation

The MoU was signed in the presence of Cyprus President Nikos Christodoulides and Maharashtra Chief Minister Devendra Fadnavis, reflecting the increasing political and commercial importance being attached to the India-Cyprus relationship. The timing is important because President Christodoulides is on a State visit to India from 20 to 23 May 2026, a visit that follows Prime Minister Narendra Modi’s official visit to Cyprus in June 2025.