Economy

The contract is based on Mumbai rainfall data sourced from the India Meteorological Department. It tracks how actual rainfall deviates from the city’s Long Period Average during the monsoon season. The system uses a Cumulative Deviation Rainfall model, developed with the involvement of IIT Bombay, to measure the difference between real rainfall and historical averages.

The latest export figure also reflects the steady globalisation of Indian tea. What was once seen largely as a domestic habit has become an expanding trade opportunity. Indian tea is now consumed across markets in West Asia, Europe, North America, Russia, China and other regions. The growing export value suggests that international buyers are not merely purchasing bulk tea, but increasingly recognising the diversity and quality of Indian varieties.

Since its launch, the Rozgar Mela has become one of the major platforms through which the Government of India has accelerated the distribution of appointment letters to selected candidates. According to the Prime Minister’s Office, around 12 lakh recruitment letters have already been issued through the previous 18 Rozgar Melas organised across the country.

The numbers clearly show that UPI is now the backbone of India’s mass retail digital payments system. While UPI dominated transaction volume, other systems continued to serve their own specialised roles. NEFT and Prepaid Payment Instruments each accounted for 3.6% of transaction volume, while RTGS contributed only 0.1% of transaction volume because it is mainly used for large-value settlements.

The IMF’s India country page also lists India’s projected real GDP growth for 2026 at 6.5%, underlining the broad confidence around India’s medium-term economic momentum.

For many artisans, home-based businesses, farmer producer organisations, small manufacturers and local retailers, the challenge has never been only production. It has often been market access. A walnut grower in a hill district, a food processor in the North-East or a small household enterprise may have a good product, but limited reach, weak buyer connectivity, poor digital visibility, high platform costs and logistical hurdles can prevent them from scaling. TEAM is aimed at solving precisely this gap by helping such enterprises with onboarding, cataloguing, packaging, logistics and customer management.

According to NPCI BHIM Services Limited, monthly transaction volumes on the BHIM app rose from 5.93 crore in April 2025 to 21.6 crore in March 2026. The momentum continued into the new financial year as well, with the app recording 22.49 crore transactions worth ₹26,040 crore in April 2026. This shows that the growth was not just a temporary spike, but part of a larger behavioural shift towards digital payments.

India’s digital transformation has already become visible in everyday life. The spread of UPI, Aadhaar-linked services, paperless governance, digital public infrastructure, optical fibre expansion and online service delivery has changed how citizens, businesses and government institutions interact. The shift from a cash-heavy and paperwork-heavy system towards a more digital economy has improved speed, transparency and accessibility in many areas of public and commercial life.