News on Indian Economy
The diamonds were found in the Saraipali area of Mahasamund during exploration being carried out by NMDC-CMDC Limited, a joint venture between National Mineral Development Corporation and Chhattisgarh Mineral Development Corporation. Officials said the recovery confirms the presence of diamond minerals in the block and provides a strong basis for further geological investigation.
The announcement reflects Reliance’s wider strategy of expanding from telecom and digital connectivity into deep technology platforms. After transforming India’s data and mobile internet landscape through Jio, the company is now aiming to play a similar role in artificial intelligence by making AI tools more accessible, affordable and useful for everyday users as well as enterprises.
The Canada licence allows Skydo to support two-way payment flows between India and Canada. This includes local collections, payouts and broader cross-border payment services. The approval expands Skydo’s role beyond international collections and gives the company a stronger foundation to serve businesses, exporters, service providers, students, institutions and enterprises operating across the India-Canada corridor.
The rise in exports has been driven mainly by competitive Indian corn prices. Relatively weak domestic prices have made Indian corn attractive for buyers in nearby markets such as Bangladesh, Vietnam, Nepal, Sri Lanka and Bhutan. Lower freight costs, shorter shipping distances and the ability to move smaller cargoes have added to India’s advantage in these destinations.
India’s defence exports have also recorded impressive growth. From around ₹1,000 crore before 2014, defence exports have risen to nearly ₹40,000 crore, indicating growing international confidence in Indian-made defence platforms, systems and components. The rise in exports shows that India is moving from being a major defence importer to an emerging supplier in the global defence market.
Union Commerce and Industry Minister Piyush Goyal said India’s exports grew by nearly 15% year-on-year between April 1 and June 14, 2026. The performance reflects the growing competitiveness of Indian exporters and the country’s expanding role in global trade networks.
The growth has also been strong in volume terms. India recycled 2.99 million gross tons of ships in 2025, compared with 1.86 million gross tons in 2024. This represents a rise of nearly 60% in one year and places India at the top of the global ship recycling industry.
The Ministry of Agriculture and Farmers Welfare’s latest kharif sowing update shows that India’s 2026 kharif season has gained early momentum, with total sown area reaching 119.90 lakh hectares as of June 19, 2026, compared with 117.95 lakh hectares during the corresponding period in 2025.
The transformation has been supported by sustained government investment, mission-mode programmes and long-term policy support. India is now building an ecosystem that links digital access, research capability, manufacturing, talent development and global technology partnerships. These advances are becoming a major foundation for the vision of Viksit Bharat 2047.
According to senior mining officials, Jonnagiri village in Kurnool district has emerged as one of the most promising gold-bearing zones in the state. Preliminary assessments indicate that the area could contain around 50 tonnes of gold, making it one of the most significant gold deposits identified in India in recent years.
