News on Indian Economy
U.S. Ambassador to India Sergio Gor said on 28 August 2026 that India plans to purchase the battle-tested Javelin anti-tank missile system from the United States. The statement is significant because it provides fresh confirmation that a procurement track first publicly outlined by the two governments in 2025 remains active.
Under the National Circular Bioenergy Scheme, or GOBARdhan, the administered procurement price for Compressed Biogas has been fixed at ₹2,110 per MMBtu, equivalent to approximately ₹105 per kilogram of CBG. The Government will simultaneously provide affordability support of ₹10 per kilogram, substantially reducing the portion of the revised price that has to be absorbed through the domestic gas market.
The project has been developed for Tata Steel Limited through TP Vardhman Surya Limited, a subsidiary of Tata Power Renewable Energy Limited. Designed as a captive renewable-energy installation, the facility will supply clean electricity for Tata Steel’s requirements while supporting the steelmaker’s broader transition towards lower-emission industrial operations.
NTPC has already expanded from only 43.1 GW in FY2014 to around 91 GW today. During FY2025-26 alone, the group added a record 9.6 GW, its highest annual capacity addition, with 5.48 GW — nearly 60% — coming from non-fossil sources. Another approximately 35.7 GW is currently under construction, providing a substantial base for the next phase of expansion.
The scale of that expansion has been extraordinary. UPI transaction value rose from just ₹0.07 lakh crore in FY2016-17 to around ₹314 lakh crore in FY2025-26, representing an increase of more than 4,000 times over the decade. Transaction volumes expanded even faster, climbing from 1.78 crore transactions to more than 24,162 crore transactions, an almost 13,000-fold increase.
At the heart of this underwater capability is the Naval Physical and Oceanographic Laboratory in Kochi, better known as NPOL. The DRDO laboratory has emerged as one of India’s principal centres for underwater acoustics, sonar engineering and anti-submarine warfare technologies, developing systems capable of detecting, classifying and tracking submarines and other underwater threats.
AGNIT Semiconductors, born from research at the Indian Institute of Science (IISc), is developing GaN semiconductor technology for high-frequency communications, strategic electronics and power applications. The company describes itself as a fab-lite GaN semiconductor company covering the technology chain from semiconductor wafers to components and modules.
The Defence Research and Development Organisation has already demonstrated the basic long-range hypersonic missile technology and publicly displayed the LR-AShM during the Republic Day Parade in January 2026. Reporting preserved in DRDO’s own January 2026 newspaper-clippings compilation subsequently stated that higher-range versions reaching up to 3,500 km were at various stages of development, citing a senior DRDO scientist.
The contract was disclosed by Jaykay Enterprises Limited on 25 August 2026. Allen Reinforced Plastics is a step-down subsidiary of Jaykay Enterprises through its defence and aerospace arm. The order is domestic and is valued at approximately ₹60.01 crore including GST. The company has stated that execution will be carried out according to the terms and conditions contained in the order.
Canada has highlighted the progress made in recent discussions and sees the agreement as a potential driver of higher bilateral trade and fresh investment flows. For India, the negotiations form part of a wider strategy to deepen trade partnerships with major economies and create new opportunities for Indian exporters, manufacturers and service providers.
