News on Indian Economy
The minister said India added 55.3 GW of non-fossil fuel power capacity during FY 2025–26, marking the highest annual increase so far. As of March 31, 2026, the country had installed 283.46 GW of non-fossil power capacity, including 274.68 GW from renewable energy and 8.78 GW from nuclear power.
Designed with eight 210 MW units and one 40 MW unit, the Kamala project is expected to generate 6,870 million units of electricity. According to the government, the project is intended to strengthen Arunachal Pradesh’s power supply, support peak demand management, contribute to national grid balancing, and provide flood moderation benefits in the Brahmaputra valley.
The year-wise figures show how sharply the scheme has scaled since inception. PMMY sanctioned 3.49 crore loans worth ₹1.37 lakh crore in 2015-16, while by 2025-26 as of 27 March 2026, it had already sanctioned 4.49 crore loans worth ₹5.65 lakh crore. Over the full 11-year period, the cumulative sanctioned amount reached ₹40.07 lakh crore.
The new survey comes at a time when the services sector contributes more than half of India’s GDP and remains one of the country’s biggest sources of jobs and economic expansion. According to the Ministry of Statistics and Programme Implementation, ASISSE is expected to become a key source of official data on major service activities such as trade, transport, hospitality, information technology, education and health.
The milestone, achieved using indigenous technology developed by QNu Labs—a startup supported under the mission and focused on quantum-safe cybersecurity solutions—represents one of the longest quantum key distribution (QKD) deployments globally since the mission’s launch in October 2024. Secretary, DST, Dr. Abhay Karandikar described it as “a landmark advancement in secure quantum communication,” noting that it reflects progress ahead of envisaged timelines.
With an installed capacity of 1,200 MW, configured as six 190 MW units and one 60 MW unit, the Kalai-II project is expected to generate 4,852.95 million units of electricity annually. According to the government, it will be the first hydroelectric project in the Lohit Basin and is expected to strengthen power supply in Arunachal Pradesh, help manage peak electricity demand, and support grid balancing at the national level.
The initiative comes as India accelerates efforts to meet its ambitious target of 500 GW of renewable energy capacity by 2030, up from the current ~267 GW. Grid-scale battery storage is considered critical for managing the intermittent nature of renewable sources such as solar and wind, by storing surplus energy during low demand and supplying it during peak hours.
The order involves the construction of four bulk carriers, each with a capacity of around 92,500 deadweight tonnes (DWT)—placing them among the largest commercial vessels ever to be built in India. Each vessel will measure approximately 229.5 metres in length with a beam of 37 metres, and will be equipped with advanced ammonia-based dual-fuel propulsion systems, positioning them at the forefront of low-emission maritime transport.
India’s present upgrade cycle is being led by both telecom operators and hyperscalers. The government told Parliament in March 2026 that four submarine cable systems are currently under commissioning at Indian cable landing stations: India Europe Xpress (IEX) in Mumbai, SEA-ME-WE-6 in Mumbai and Chennai, 2Africa in Mumbai, and Raman Cable in Mumbai
India is emerging as a major beneficiary of that shift. Based on an analysis of more than 1,263 Indian AI startups, the report says roughly 75 per cent of the country’s AI startups are focused on applications, and nearly 80 per cent of funding is going into this segment. It also says many Indian startups are reaching the revenue stage early, reflecting a market that is increasingly oriented toward practical deployment rather than speculative experimentation.
