News on Indian Economy
The Foundation for QC Innovation, or FQCI, has been incorporated as a Section 8 not-for-profit company by IISc Bengaluru under the National Quantum Mission implemented by the Department of Science and Technology.
Kaiga Units 5 and 6 will comprise two indigenous 700 MWe Pressurised Heavy Water Reactors, adding a combined 1,400 MW of nuclear generating capacity at the Kaiga site near Karwar in Karnataka. They form part of the first fleet of ten 700 MW PHWRs being developed using India’s domestically evolved reactor technology.
Chairman and Managing Director B. Sairam, outlining the company’s roadmap at Coal India’s 52nd Annual General Meeting on 31 August 2026, said the Maharatna PSU would continue expanding its core mining operations while creating new businesses in renewable energy, battery storage, coal gasification, critical minerals and power generation.
NALCO’s revenue from operations reached a record ₹17,843 crore in FY2025-26, compared with ₹16,788 crore during the previous financial year, representing growth of around 6%. Profit after tax increased by more than 9% from ₹5,325 crore to a record ₹5,816 crore, while EBITDA rose to ₹8,613 crore and profit before tax reached ₹7,767 crore.
ONGC Chairman and CEO Arun Kumar Singh said the company plans to drill 87 deepwater and ultra-deepwater wells by March 2031. The programme represents an aggressive expansion of offshore exploration at a time when India is seeking to reverse stagnation in domestic oil and gas production and reduce its vulnerability to imported energy.
The project, located at Chausa in Buxar district, consists of two supercritical generating units of 660 MW each and is being implemented by SJVN Thermal Private Limited, a wholly owned subsidiary of SJVN. With Unit-2 successfully completing its sustained trial operation, SJVN said it is now ready for the unit’s commercial operation.
The collaboration will cover hazardous-environment robotics, confined-space operations, Humanitarian Assistance and Disaster Relief, critical-infrastructure inspection, engineer support, AI-enabled inspection and remote sensing.
IESA welcomed the government’s formal notification of Semicon 2.0 on 31 August 2026, saying the programme could deepen India’s semiconductor capabilities, attract large-scale investment, generate high-value employment and strengthen the country’s position as a trusted participant in the global semiconductor supply chain.
Of the 26 modifications planned for each tank, six are described as major upgrades. These include a commander’s panoramic sight, Mk-II gunner’s main sight, automatic target tracker, improved muzzle-reference system, upgraded track and advanced running-gear system.
The developments were disclosed in HAL’s latest annual report, which identifies them among technologies designed and developed from the ground up for the LCA Mk2 platform. While neither system attracts the attention normally associated with radar, electronic warfare or weapons, they represent the kind of underlying aircraft technology that determines reliability, safety, maintainability and operational availability over a fighter’s service life.
