India's aerospace sector reaches a milestone with the first C-295 aircraft assembled in Vadodara. The program, a collaboration with Airbus, aims to replace aging IAF fleets and boost domestic defense manufacturing.
India has formed six working groups to identify 100 products for domestic manufacturing, aiming to reduce import dependence in sectors like pharmaceuticals, electronics, and textiles. The initiative seeks to boost local industry and mitigate import expenditures, especially amid the West Asia crisis.
India has established six expert groups to identify 100 products for domestic manufacturing, aiming to reduce import dependence, curb foreign exchange outflow, and boost local production for domestic and global markets. The groups will submit their list within three weeks.
Australia is set to receive three secondhand US Virginia-class nuclear submarines, with the first arriving in 2032. Defense Minister Pat Conroy dismissed criticism, stating the deal is cheaper and more efficient, while acknowledging potential US congressional review.
Chinese chip designer Loongson Technology has shipped more than 1 million units of its flagship desktop processor, marking a milestone for China’s efforts to build a self-sufficient semiconductor industry and move domestic central processing units (CPUs) beyond basic usability towards broader commercial adoption. The 3A6000 processor, designed for desktop computers, was built on Loongson’s self-developed LoongArch instruction set architecture, proprietary IP cores, and domestic manufacturing...
Prime Minister Narendra Modi urged collective national efforts to reduce import dependence and strengthen India's global supply chain position. Amidst global uncertainty and Middle East conflict concerns, he appealed to citizens to minimize foreign currency spending and support domestic manufacturing. Modi drew parallels to past national crises, emphasizing historical citizen unity in response to government appeals.
India's leather and footwear sector is grappling with a 40-60% surge in input costs due to the Middle East crisis. The industry is petitioning the government for import duty exemptions on critical raw materials, machinery, and components to mitigate these rising expenses.
The European Commission has unveiled the Industrial Accelerator Act, introducing 'Made in Europe' requirements that tie public funding to local production thresholds of up to 70% for electric vehicles and 25% for aluminium and cement. The law imposes conditions on foreign firms including a 49% ownership cap and requirements for joint ventures with European partners. The policy responds to approximately 200,000 job losses in energy-intensive industries and automotive sectors since 2024, with projections of up to 600,000 additional job losses in car manufacturing. China has warned of WTO violations and potential countermeasures, raising concerns of a new global trade confrontation.
India is adopting a strategic approach to expand exports to China while strengthening domestic manufacturing, aiming to reduce dependence on Chinese inputs without a complete decoupling. A senior government official told PTI that India is building resilient supply chains and increasing export capacity, though the country still relies heavily on Chinese raw materials, intermediate goods and capital equipment. Trade data shows India's exports to China rose 37% to $19.47 billion in 2025-26, while imports increased 16% to $131.63 billion, widening the trade deficit to $112.6 billion.
The UN Economic and Social Commission for Asia and the Pacific projects India's economy will grow 6.4% in 2026 and 6.6% in 2027, with India achieving 7.4% growth in 2025. The report highlights strong consumption, rural economy performance, and GST cuts as drivers, while noting a 25% export fall to the US after tariffs. India remains a top FDI destination with $50 billion in greenfield investments.
