Economy

News on Indian Economy

Cochin Shipyard Begins Construction of Four Advanced Battery-Electric Tugs for Svitzer

Construction formally commenced with a steel-cutting ceremony at Cochin Shipyard on September 2, 2026. The four vessels belong to Svitzer’s TRAnsverse 2600e class, an advanced 26-metre tug design developed for demanding harbour and terminal operations. Cochin Shipyard and Svitzer describe the vessels as being among the most advanced green tugs currently under construction globally.

Indian Firm Neuralix Develops Sovereign AI Foundation Model for Indian Army Networks

The company said on September 2, 2026 that the AI model has been built specifically around military requirements rather than by simply adapting a commercially available general-purpose language model. It forms part of a broader indigenous defence-AI ecosystem being developed under the Ministry of Defence’s Innovations for Defence Excellence, or iDEX, ADITI 2.0 programme.

Indian Railways’ One Station One Product Scheme Crosses ₹162 Crore in Sales, Expands Market for Local Artisans

Latest information attributed to Indian Railways shows that the initiative has now generated approximately ₹162.39 crore in cumulative sales, while more than 1.54 lakh people have benefited from the programme. More than 2,300 OSOP outlets are operating across over 2,000 railway stations, giving locally produced goods access to one of India’s largest everyday consumer networks. Nearly 1.5 lakh direct beneficiaries have received market opportunities through the initiative.

Project Vayu Baan: IAF Develops Helicopter-Dropped Loitering Munition for Stand-Off Strikes

One of the most important aspects of Vayu Baan is its expected ability to function in a GNSS-denied environment. Modern combat zones are increasingly saturated with jamming and spoofing systems designed to interfere with satellite navigation. A drone that depends entirely on GPS can therefore become unreliable at precisely the moment it is needed most. The IAF requirement consequently places emphasis on autonomous navigation even when satellite-navigation signals are unavailable or disrupted.

Prime Toolings Tests Indigenous Rotating Detonation Engine, Achieves TRL-5

Prime Toolings announced the achievement through its official social-media channels, including the company’s Instagram account, stating that its Rotating Detonation Engine had successfully completed development and testing and had reached TRL-5. The company has subsequently released additional glimpses of the engine’s internal configuration and indicated that further technical information from the development programme will be made public.