Economy

India is already the world’s second-largest crude steel producer. According to World Steel Association data, India produced 164.9 million tonnes of crude steel in 2025, registering 10.4 percent growth over 2024, while global steel production remained under pressure in several large economies. This makes India one of the clearest growth centres in the global steel market.

Procurement of onions is currently being carried out through NAFED and NCCF for the Government’s Price Stabilisation Buffer. The higher procurement price is expected to give farmers improved price realisation and encourage smooth procurement for maintaining adequate reserves during the lean season.

The inaugural consignment, comprising one metric tonne of premium stone fruits sourced from farmers in Shopian and Pulwama districts, marks a significant milestone in promoting Jammu & Kashmir’s high-value horticultural produce in international markets. The shipment reflects the growing global demand for premium Indian fruits and the region’s increasing potential as an export hub.

The development marks a significant step towards strengthening India’s maritime manufacturing capabilities under the national vision of Atmanirbhar Bharat, Make in India and Maritime Amrit Kaal Vision 2047. It reflects India’s growing ability to build critical logistics infrastructure for global trade using domestic industrial capacity.

ACME Group signed an agreement with IHI Corporation of Japan for the supply of green ammonia and another 10-year agreement with Mitsubishi Gas Chemical Company, Inc. for green methanol. Together, these partnerships represent one of the largest green ammonia and green methanol offtake commitments from India to Japan, creating a strong international market linkage for Indian clean fuels.

During June 2026, Indian Railways loaded 142.21 million tonnes of freight, compared to 136.71 million tonnes in June 2025. This marks a 4 per cent increase over the corresponding month last year. Freight earnings also recorded positive growth, generating additional revenue of nearly ₹430 crore, reflecting a 3 per cent rise over June 2025.

Under the proposed benefits of the agreements, Indian toys are expected to receive zero-duty access in the UK and EU markets. At present, such imports face duties of around 5–6 per cent, which affects the final landed cost of Indian products. Removal of these duties can help Indian exporters offer more competitive pricing while expanding their reach among distributors, retailers and consumers abroad.