News on Indian Economy
Domestic consumption alone is projected to reach ₹15.64–18.86 lakh crore, or US$170–205 billion, by 2035. Exports could cross ₹5.52 lakh crore, or US$60 billion, giving India a chance to move from being a large domestic market to becoming a serious global supply-chain hub for electrical equipment.
During the visit, the Minister reviewed the operations of HMT’s Machine Tool Division, Foundry Division and strategic manufacturing sections. He also inspected manufacturing, assembly and testing processes related to CNC systems, precision machine tools, specialised engineering equipment and indigenously developed Sonar Directing Gear systems used for Indian Naval platforms. This defence-linked capability gives the visit a deeper strategic meaning, because HMT is not only serving commercial industry but also supporting India’s self-reliance in sensitive engineering domains.
The agreement was signed in New Delhi by Shri Neeraj Kumar Jha, General Manager, Parcel Directorate, Department of Posts, and Shri Harvinder Kapur, Director – Commercial, Flipkart India Private Limited. Senior officials from both organisations were also present during the signing ceremony, marking an important institutional step in the growing convergence between public logistics infrastructure and India’s private digital commerce ecosystem.
Highlighting India’s entrepreneurial momentum, the Prime Minister noted that the country today has more than 23.30 lakh recognised startups, with innovation increasingly flourishing in Tier-2 and Tier-3 cities.
Cold-water fisheries are practiced in high-altitude snow-fed rivers, streams, lakes, and reservoirs with temperatures ranging between 5°C and 25°C, dissolved oxygen above 6 mg/L, and pH levels between 6.5 and 8.0. Species such as rainbow trout, golden mahseer, and snow trout are cultivated using specialized infrastructure including hatcheries, raceways, RAS, biofloc systems, and cold chain facilities. Trout farming is generally practiced above 1,500 metres altitude, while mahseer culture is suitable at relatively lower elevations.
The size of the transfer reflects the strength of the RBI’s balance sheet during FY26. According to the available details, the central bank’s balance sheet expanded by 20.61% to ₹91.97 lakh crore as of 31 March 2026. Its gross income rose by 26.42%, while expenditure before risk provisions increased by 27.60%. Net income before risk provisions and transfers to statutory funds stood at ₹3,95,972.10 crore, compared with ₹3,13,455.77 crore in the previous year.
According to the Minister, India’s data centre capacity is projected to expand sharply from around 1.5 GW to nearly 6.5 GW by 2030. This growth is expected to create new employment opportunities for engineers and technical professionals in areas such as artificial intelligence systems, cooling technologies, smart grids, renewable energy integration, secure digital infrastructure and advanced data management systems.
The MoU was signed in the presence of Cyprus President Nikos Christodoulides and Maharashtra Chief Minister Devendra Fadnavis, reflecting the increasing political and commercial importance being attached to the India-Cyprus relationship. The timing is important because President Christodoulides is on a State visit to India from 20 to 23 May 2026, a visit that follows Prime Minister Narendra Modi’s official visit to Cyprus in June 2025.
The upgraded partnership shows that India and Italy are no longer looking at each other only through the lens of traditional diplomacy or cultural familiarity. The new framework places defence, trade, technology, critical minerals, maritime security, innovation, mobility and global governance at the centre of the relationship. In simple terms, the two countries are trying to build a partnership suited to the next decade rather than merely celebrate historical goodwill.
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.
