News on Indian Economy
The initiative comes as LIC continues to deepen its digital push across India’s vast insurance market. With more than 260 million policies and one of the widest insurance footprints in the country, LIC is positioning its digital platforms as a key part of improving service efficiency, expanding reach, and staying competitive in an evolving life insurance landscape.
The investment is expected to strengthen India’s position in next-generation cooling technologies, especially in fast-growing segments such as data-centre infrastructure and energy-efficient buildings. IBEF said the project could deepen India’s capabilities in HVAC components, industrial cooling systems, and engineering-services exports while creating high-value jobs.
The report traces this transformation from earlier banking systems such as RTGS and IMPS to the rise of the Unified Payments Interface, launched by the National Payments Corporation of India in 2016. UPI simplified digital transfers by allowing users to send and receive money instantly through mobile-linked IDs rather than sharing detailed bank account information, helping it spread rapidly across individuals, merchants, and service providers.
The programme, launched in March 2015, was designed to modernise ports, improve port connectivity, promote port-led industrialisation, support coastal communities, and expand the role of coastal shipping and inland waterways in India’s logistics network. With India’s 11,099-kilometre coastline and nearly 14,500 kilometres of potentially navigable waterways, the maritime sector continues to play a critical role in national trade, handling around 95 per cent of trade by volume and about 70 per cent by value.
A major feature of this growth has been the widening of India’s digital consumer base. The report says the country’s annual active online shopper base is now nearing 300 million, while the seller ecosystem has tripled over the past five years. Growth is also becoming less metro-centric: Tier-II and smaller cities accounted for around half of incremental online orders in 2025, showing that the next phase of e-retail expansion is being driven as much by Bharat as by big urban centres.
The shift is already visible in India’s energy and transport mix. The WEF-published piece says solar now contributes about 9% of India’s electricity, while coal consumption per person remains far below China’s at a similar stage of development. In transport, electric passenger vehicles are nearing 5% of total sales, and electric three-wheelers account for almost 60% of the market, making India a global leader in that segment.
According to the World Bank’s latest India Development Update, India’s economy grew 7.6% in FY2025-26, up from 7.1% in FY2024-25, supported by robust domestic demand, low inflation, tax measures and relatively accommodative financial conditions. The report says India remained the fastest-growing major economy during FY26, with manufacturing and services providing much of the momentum.
The transition is designed to make toll payments faster and more efficient while cutting dependence on cash transactions. By shifting entirely to digital payments, the government is seeking to strengthen accountability in toll collection and improve the overall experience for highway users.
The investment response has been especially notable. Total investment under the scheme has already crossed Rs. 9,000 crore, significantly above the earlier commitment level of about Rs. 7,000 crore. That gap points to stronger-than-expected industry participation and faster capital deployment, indicating that companies see long-term potential in India’s processed food segment.
India produces nearly 7.8 million metric tonnes of post-consumer textile waste every year, spanning everything from sarees and uniforms to denim and household linen. Against that backdrop, the Navi Mumbai Municipal Corporation has set up what PIB describes as India’s first municipal Textile Recovery Facility in Belapur, positioning textile waste as a recoverable resource rather than an overlooked urban burden.
