India's DRDO successfully completed final development trials for its ULPGM-V3 precision guided missile, designed for UAVs in air-to-ground and air-to-air modes. Developed with a fully domestic supply chain, the missile is ready for mass production, boosting India's self-reliance in defense.
The US seeks to reduce dependence on China for rare-earth elements, crucial for electronics, EVs, and military tech, with a Wyoming mine offering potential for domestic supply.
South Korea will launch an evaluation system in July to subsidize EV manufacturers based on their contributions to domestic supply chains, technology, sustainability, and safety, requiring at least 60 out of 100 points for eligibility.
For RBI the situation is clear: The resilience of the global economy, already inflicted with trade tensions, is being tested by the conflict in West Asia. The biggest takeaway from the RBI bulletin is that India’s domestic supply chains may come under risk from a prolonged war scenario, though strong macroeconomic fundamentals provide a buffer.
