News on Indian Economy
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.
The facility was formally inaugurated on 26 August 2026 by Ravi K., Chairman and Managing Director of Hindustan Aeronautics Limited (HAL), in the presence of Puneet Kaura, Director of SHDS and Managing Director and CEO of Samtel Avionics, along with senior representatives of HAL and the Samtel Group.
The overall IIP stood at 124.8 in July 2026, compared with 117.0 in July 2025. Manufacturing, which carries the largest weight in the industrial index, expanded by 7.3%, while Electricity and Gas Supply grew by 8.7%. Water Supply, Sewerage and Waste Management recorded growth of 7.4%. Mining and Quarrying was the only major sector to contract, declining by 0.9%.
Signed on 27 August 2026, the DoT-funded initiative is designed to bridge the gap between laboratory-stage innovation and commercial deployment. Indian startups, telecom companies, researchers and technology developers will be able to test optical networking solutions in a realistic network environment before taking them to market.
The planned service, being described as the “Apple Train,” is expected to provide growers and fruit traders with an alternative to the road-based transport system that currently carries the bulk of Kashmir’s apple crop outside Jammu and Kashmir. The initiative could become particularly important during the peak harvesting season, when enormous quantities of fruit have to leave the Valley within a relatively short period.
