India's civil aviation sector received a significant push as the government highlighted its ambition to build the country into a global centre for aircraft maintenance, repair and overhaul (MRO) services. The Civil Aviation Minister noted that shifting MRO work to India could help save nearly USD 15 billion in foreign exchange over the coming years. With domestic airlines ordering more than 1,500 aircraft and the local MRO market projected to reach USD 4 billion by 2031, the sector is gaining strategic importance. A new Safran MRO facility, set to begin operations in 2026, is expected to strengthen India's capability further.Read more

Prime Minister Shri Narendra Modi inaugurated the Safran Aircraft Engine Services India (SAESI) facility in Hyderabad, which will be operational in 2026. With an initial investment of INR 1,300 crore, the facility is designed to service LEAP engines used in Airbus A320neo and Boeing 737 MAX aircraft. It will employ over 1,000 skilled Indian technicians and engineers and handle up to 300 engines annually. The initiative aims to strengthen India's indigenous MRO capabilities, reduce foreign exchange outflows, support the rapidly growing aviation sector, and position the country as a global aviation hub.Read more

JK Lakshmi Cement has announced an investment of INR 1,816 crore to expand its production capacity in Chhattisgarh. The plan includes increasing clinker capacity by 2.31 MTPA and cement grinding capacity by 1.2 MTPA. The agreement was finalised at an investor event held in New Delhi in the presence of the state's Chief Minister. The company, which has operated an integrated plant in Durg since 2015, aims to strengthen supply across Eastern and Central India and move closer to its long-term goal of reaching a total capacity of about 30 MTPA.Read more

India's Chief Economic Advisor V Anantha Nageswaran stated that the country's economy is set to cross the USD 4 trillion mark during the ongoing financial year, rising from about USD 3.9 trillion at the end of the previous fiscal. He noted that India's economic strength is crucial at a time when global geopolitics remains unpredictable. Speaking at the IVCA Green Returns Summit 2025, he stressed that India's climate goals, energy transition plans, and environmental policies must align with national priorities. He also pointed to India's long-term commitment to achieving net-zero emissions by 2070.Read more

Moody's Ratings has flagged that recent tax cuts in India have weakened revenue growth, reducing fiscal space for policy support. Net tax revenue till September stood at INR 12.29 lakh crore, lower than last year's INR 12.65 lakh crore, with only 43.3% of the FY26 target achieved. The Union Budget raised the income tax rebate to INR 12 lakh and the government cut GST rates on 375 items, providing relief but straining revenues. Moody's noted that easing inflation, rate cuts and stronger household purchasing power will aid consumption, though economic growth may gradually soften. Domestic demand and infrastructure investment remain key drivers, even as high U.S. tariffs pose external risks.Read more

The International Monetary Fund is expected to update its classification of India's foreign exchange management framework soon, according to a recent Bloomberg report citing people aware of the discussions. This move follows the IMF's earlier decision, made about two years ago, to shift India's regime from 'floating' to 'stabilized arrangement', a label the Reserve Bank of India had strongly disagreed with at the time. The IMF had continued this classification for the period stretching from December 2022 to November 2024. The latest development comes at a time when the rupee has shown increased volatility under RBI Governor Sanjay Malhotra, who assumed office late last year.Read more

Union Steel Minister H D Kumaraswamy called for stronger research and development and adoption of technologies like AI to boost India's steel sector. At the two-day 'Chintan Shivir' in Odisha, he emphasized collaboration among stakeholders to enhance competitiveness and efficiency. Discussions involved private companies and CPSEs, focusing on innovation, operational excellence, indigenous technologies, and modern mining methods. Officials highlighted India's rising steel consumption driven by infrastructure projects and Odisha's advantages for industrial growth, underscoring the sector's critical role in supporting national development.Read more

G20 leaders have expressed a unified intention to work together on concerns surrounding the proposed global minimum tax and the wider tax issues linked to the digitalisation of economies. They reiterated the need to maintain each country's tax sovereignty while seeking a practical and balanced solution. The discussions also highlighted the demand for a new OECD framework to improve transparency in immovable property taxation on a voluntary basis. With the US distancing itself from the global tax deal earlier this year, several countries are reassessing their position, adding weight to the G20's call for clarity and stability in international tax rules.Read more

An expert panel convened during a recent national land governance conference urged the Union government to overhaul India's colonial-era 'wasteland' classification, arguing that mislabelled grasslands, wetlands, pastures, and village commons are being diverted or degraded due to flawed categorisation. The panel, comprising representatives from the Ministry of Rural Development, ISRO-SAC, IUCN, the Centre for Pastoralism, the Foundation for Ecological Security, and ATREE, maintained that these landscapes hold substantial ecological and economic value, including ecosystem services worth USD 90-110 billion annually. Speakers stressed that proper mapping, tenure clarity, and international commitments demand an immediate policy shift.Read more

A new working paper from the Economic Advisory Council to the Prime Minister shows that Indian households are spending a larger share of their budgets on non-food items, especially consumables, services and durable goods. The study, comparing data from 2011-12 and 2023-24, finds a notable rise in spending on durables across all states, with rural households in some regions even surpassing urban levels. Mobile phone ownership is now nearly universal, while laptop and computer penetration remains limited. The paper highlights declining TV ownership as mobile screens replace traditional viewing. It also notes strong growth in motor vehicle ownership, supported by better roads, market access and wider availability of finance.Read more