News on Indian Economy
UPI is now operational in 10 countries outside India: Bhutan, Singapore, United Arab Emirates, Nepal, France, Mauritius, Sri Lanka, Qatar, Cambodia and Greece. This expansion marks a major milestone in India’s digital public infrastructure journey and strengthens the country’s presence in the global payments ecosystem.
A major part of Tata Power’s strategy is renewable energy. The company plans to deepen its solar manufacturing capacity by setting up a new 10 GW solar equipment manufacturing facility in Odisha. This proposed unit will add to its existing manufacturing base and support India’s goal of building a strong domestic solar supply chain.
The industry recorded a turnover of ₹7.60 lakh crore, equivalent to around US$ 85.9 billion, registering 12.7 percent growth in rupee terms over the previous financial year. This performance shows the sector’s expanding role in India’s manufacturing economy and its growing importance within the global automotive supply chain.
The statement comes at a time when global energy markets are facing pressure from geopolitical tensions, especially the situation in the Middle East. India and Australia expressed deep concern over the wider consequences of these disruptions, including their impact on energy, resources, commodity supply chains and prices. This makes the statement highly relevant because energy security today is linked with national security, inflation control, industrial stability and maritime trade.
The purpose of ECLGS 5.0 is to protect businesses from sudden cash-flow stress, help them sustain operations, and give lending institutions the confidence to extend additional credit during a period of external disruption. By offering government-backed guarantee coverage, the scheme reduces risk for banks and financial institutions, allowing credit to reach enterprises that may otherwise face pressure due to uncertainty in trade, logistics, energy costs and working-capital cycles.
The projection was released in the IMF’s latest World Economic Outlook Update. According to the report, India’s economic expansion continues to be supported by strong private consumption, steady services-sector activity and resilient domestic demand.
The rise in EV sales reflects a broader shift in consumer behaviour. Indian buyers are increasingly considering electric vehicles for daily commuting, urban travel, fleet use and commercial operations. Better charging infrastructure, expanding dealership networks, improved battery technology and stronger after-sales support are helping reduce earlier concerns around range, charging access and maintenance.
India has one of the world’s richest handmade traditions, supported by an estimated 64.66 lakh handloom and handicraft artisans. Women form the backbone of this sector, accounting for 71 percent of handloom weavers and 64 percent of the total artisan workforce as of August 2025. By helping these artisans access online markets, Indiahandmade supports both cultural preservation and livelihood generation.
The project marks a significant upgrade for India’s east coast trade infrastructure. With deeper channels and berth-side capacity, Kamarajar Port can now receive larger bulk carriers, allowing shipping lines to move more cargo per vessel. This is expected to lower freight costs through economies of scale, improve operational efficiency, raise cargo-handling capacity and strengthen India’s competitiveness in EXIM trade.
The meeting was held on 6 July 2026 and was co-chaired by Benjamin Gallezot, France’s Interministerial Delegate for Strategic Minerals, and Kameshwar Saip, Joint Secretary, National Critical Mineral Mission, Ministry of Mines. The discussions brought together officials and technical experts from both sides at a time when critical minerals are becoming central to clean energy, electric mobility, defence technology, electronics and advanced manufacturing.
