India’s automotive components industry is expected to maintain its growth momentum in the upcoming fiscal year, with projections indicating an expansion of 8-10% in FY27. According to the Automotive Component Manufacturers Association (ACMA), the sector’s growth will be supported by strong domestic demand, increasing exports, and continued investments in technology and manufacturing capabilities.

The industry recorded a turnover of ₹7.60 lakh crore, equivalent to approximately $85.9 billion, marking a 12.7% increase in rupee terms compared with the previous fiscal year. Rising demand from original equipment manufacturers (OEMs), growth in replacement markets, and higher export orders contributed significantly to the sector’s performance.

ACMA stated that Indian automotive component manufacturers are improving their global competitiveness by focusing on localization, technological advancements, and better production standards. These efforts are helping companies strengthen their role in international automotive supply chains and meet the evolving requirements of global vehicle manufacturers.

Exports from the sector continued to show positive momentum, although imports remained high, particularly in areas such as electronic components and electric vehicle parts. This resulted in a trade deficit for the industry. ACMA emphasized that increasing domestic production of advanced components and reducing reliance on imports will be essential for achieving long-term growth.

The association also highlighted challenges faced by the sector, including workforce shortages, especially among small and medium-sized enterprises. Addressing these skill gaps will be important as the industry moves toward advanced manufacturing and emerging technologies.

Despite these challenges, industry leaders remain optimistic about the future of India’s auto component sector. The country’s expanding automobile market, supportive government policies, and rising global demand for reliable suppliers are expected to create new growth opportunities.

With increased focus on innovation, electric vehicle technologies, supply chain development, and advanced manufacturing practices, India is positioning itself as a major global hub for automotive components. Continued investments in these areas are likely to strengthen the country’s reputation as a preferred destination for international automotive sourcing and production.

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During the discussions, both sides agreed to work toward implementing the shared vision of Prime Minister Narendra Modi and Chinese President Xi Jinping for a stable and mutually beneficial relationship. Officials emphasized that stronger cooperation should translate into meaningful benefits for citizens of both countries while encouraging continued diplomatic engagement.

According to the Embassy of India in China, the meeting also included discussions on broadening collaboration in key sectors, including commerce, economic partnerships, and cultural exchanges. Ambassador Doraiswami also welcomed China’s assurance of support for India’s upcoming BRICS Presidency, highlighting continued cooperation within multilateral platforms.

The meeting follows a series of high-level diplomatic engagements aimed at improving communication between the neighboring countries. Last month, Chinese Foreign Minister Wang Yi met Prime Minister Narendra Modi in New Delhi, where both sides discussed implementing the consensus reached by their national leaders and maintaining positive momentum in bilateral relations.

During those talks, Wang Yi reiterated China’s willingness to deepen cooperation with India by strengthening mutual trust, addressing sensitive issues through dialogue, and expanding collaboration in areas of shared interest. He also stressed the importance of India and China working together as two of the world’s largest developing nations to promote solidarity and greater self-reliance among countries of the Global South.

China also reaffirmed its support for India’s leadership as the rotating chair of BRICS, expressing readiness to work closely with New Delhi to advance cooperation within the grouping. Chinese officials said stronger India-China engagement would contribute not only to the interests of both countries but also to broader international stability and development.

In another recent diplomatic interaction, Wang Yi met National Security Advisor Ajit Doval on the sidelines of the BRICS National Security Advisors Meeting in New Delhi. The two leaders reviewed recent developments in bilateral relations and acknowledged gradual progress toward normalizing ties.

The latest diplomatic exchanges reflect continued efforts by both governments to strengthen communication, enhance economic cooperation, and build a more stable relationship through sustained dialogue and collaboration across regional and global platforms.

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IBM has announced plans to commission one of India’s first quantum computers in Amaravati, Andhra Pradesh, by September 2026, marking a significant step forward in the country’s pursuit of advanced computing technologies. The project is expected to accelerate quantum research and strengthen India’s position in the rapidly evolving global deep-tech sector.

The IBM Quantum System will provide cutting-edge computing capabilities to researchers, startups, universities, and businesses, allowing them to develop and test quantum-powered solutions across a wide range of industries. Potential applications include pharmaceuticals, materials science, financial services, logistics, cybersecurity, and artificial intelligence, where quantum computing is expected to solve complex problems beyond the reach of traditional computers.

IBM’s decision to establish the system in Amaravati highlights India’s expanding expertise in mathematics, physics, and computer science. The installation is also expected to create new opportunities for collaboration among academic institutions, technology companies, and entrepreneurs working on next-generation computing technologies.

The initiative supports the Andhra Pradesh government’s broader vision of developing Quantum Valley, an integrated innovation ecosystem dedicated to quantum technologies. The program aims to position Amaravati as India’s leading center for quantum research by connecting global technology firms, industry leaders, educational institutions, and startups under a single collaborative framework.

As part of the initiative, the state plans to establish a dedicated Quantum Valley Tech Park while promoting partnerships with international technology companies. The ecosystem will also focus on advancing research, developing skilled talent, supporting startup incubation, and encouraging innovation in quantum computing, quantum communication, and quantum sensing technologies.

The IBM quantum computer is expected to serve as the foundation of this growing ecosystem by giving scientists and developers access to world-class infrastructure. This access is anticipated to speed up research breakthroughs while helping organizations explore practical commercial applications of quantum technology.

With quantum computing steadily progressing toward real-world deployment, the Amaravati project is expected to enhance India’s capabilities in advanced computing and scientific research. Industry experts believe the initiative will encourage high-value innovation, strengthen the country’s technology ecosystem, and improve its competitiveness in the global race to develop transformative quantum solutions.

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India’s Unified Payments Interface (UPI) continued its strong upward momentum in June 2026, registering a sharp rise in both transaction volume and value, according to data released by the National Payments Corporation of India (NPCI). The platform processed more than

In terms of value, UPI transactions climbed 20% compared to the previous year, crossing $296.92 billion. This growth underscores the increasing reliance of both consumers and businesses on instant, cashless payment systems. On an average day in June, UPI handled around 757 million transactions, demonstrating the scale, speed, and efficiency of India’s digital financial infrastructure.

Officials and industry experts attribute this sustained expansion to broader financial inclusion, improved merchant acceptance, and growing consumer trust in secure digital payment platforms. Small businesses, retail outlets, and service providers across urban and rural regions are increasingly adopting UPI as their preferred payment method, further strengthening the country’s shift toward a cashless economy.

Beyond domestic growth, UPI is also expanding its global reach, reinforcing India’s position as a leader in digital public infrastructure. The system is now operational in more than eight countries, including the United Arab Emirates, Singapore, France, Mauritius, Sri Lanka, and Greece, among others. This international expansion is helping facilitate faster, more seamless cross-border transactions for Indian users abroad.

A notable development during the period was the launch of a UPI-based remittance service by Eurobank in Greece, allowing direct transfers to India. This initiative is expected to simplify international money transfers while reducing costs and processing times for users.

The global adoption of UPI reflects India’s growing influence in financial technology and its efforts to build interoperable payment systems that can connect multiple economies. By enabling real-time, low-cost transactions across borders, UPI is emerging as a key tool in strengthening global financial connectivity.

Experts believe that continued expansion of UPI will further enhance digital inclusion, support innovation in fintech services, and reinforce India’s leadership in developing scalable and secure payment ecosystems. As adoption deepens both domestically and internationally, UPI is expected to play an increasingly central role in shaping the future of global digital payments.

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India has moved a step closer to becoming a major player in the global semiconductor industry after the Expenditure Finance Committee approved the proposal for the India Semiconductor Mission (ISM) 2.0. Backed by an allocation of US$13.21 billion, the initiative now awaits final approval from the Union Cabinet and is expected to significantly expand the country’s semiconductor capabilities.

The funding marks a substantial increase from the US$8.03 billion allocated under the first phase of the mission. Introduced as part of the Union Budget 2026-27, ISM 2.0 is designed to build a complete semiconductor ecosystem by supporting chip manufacturing, semiconductor equipment, raw materials, indigenous intellectual property, design innovation, and resilient supply chains.

Union Minister for Electronics and Information Technology Ashwini Vaishnaw said the next phase of the mission will place strong emphasis on developing homegrown chip designs, commercializing innovative products, expanding the skilled workforce, and attracting global ecosystem partners. The broader objective is to strengthen India’s role in the international semiconductor value chain while reducing dependence on external sources.

The first phase of the semiconductor mission has already laid a solid foundation for the country’s ambitions. The government has approved 12 semiconductor manufacturing projects with a combined investment pipeline of approximately US$17.33 billion. These include one semiconductor fabrication facility, two compound semiconductor fabrication plants, and nine semiconductor packaging units aimed at expanding domestic production capacity.

India has also made progress in semiconductor design through its Design Linked Incentive Scheme. Currently, 24 design projects are receiving government support, while 105 companies have gained access to advanced chip design software and tools. Additionally, 23 chip tapeouts have been successfully completed across multiple semiconductor manufacturing facilities, highlighting the growing maturity of the country’s design ecosystem.

Commercial production is also beginning to take shape. Two semiconductor manufacturing projects have already been inaugurated, with CG Semi expected to begin operations on July 4, 2026. Several additional facilities are scheduled to become operational later this year, signaling continued momentum as India works toward establishing a competitive and self-reliant semiconductor manufacturing industry capable of serving both domestic and global markets.

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India’s electric passenger vehicle market is on track to achieve a major milestone in 2026, with annual sales expected to cross 300,000 units for the first time, according to a report by Frost & Sullivan. The surge is being supported by increasing consumer interest in electric mobility, a broader range of vehicle options, and continued improvements in charging infrastructure across the country.

Industry estimates suggest that electric passenger vehicle sales were slightly below 200,000 units in 2025, but momentum has strengthened significantly in 2026. In the first six months of the year alone, registrations have already reached nearly 150,000 units, reflecting strong early demand. Monthly registrations have also shown steady growth, averaging around 27,000 units over the past four months. Analysts expect the upcoming festive season, which traditionally drives higher automobile purchases in India, to further accelerate sales during the second half of the year.

A key factor behind this expansion is the rapid increase in available electric vehicle models. According to Crisil, the number of electric passenger vehicle options in India has doubled over the past two financial years, reaching approximately 20 models. This figure is projected to rise beyond 35 models in the next financial year, significantly improving consumer choice across different price segments. Many of these new offerings are expected to fall within the sub-$15,892 price category (around ₹15 lakh), making EVs more accessible to middle-income buyers.

Technological improvements are also playing a critical role in boosting confidence among buyers. Modern electric vehicles now offer significantly improved driving ranges, with premium models delivering between 500 and 700 kilometers on a single charge, while mid-range variants provide around 300 to 450 kilometers. These advancements are helping ease concerns related to range limitations, which has historically been one of the biggest barriers to EV adoption.

At the same time, the expansion of charging infrastructure across urban centers and highways is making electric mobility more practical for everyday use. Faster charging solutions, increased station availability, and better network coverage are reducing downtime and improving convenience for users.

Together, these developments—strong model growth, better battery performance, and expanding infrastructure—are expected to accelerate India’s transition toward cleaner transportation. The overall trend aligns with the country’s broader goals of promoting sustainable mobility and reducing carbon emissions while strengthening the domestic electric vehicle ecosystem.

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India and Seychelles continue to deepen their economic relationship by expanding cooperation across trade, investment, transportation, renewable energy, and sustainable development. The growing partnership reflects both countries’ commitment to strengthening commercial ties while creating new opportunities for long-term collaboration in strategic sectors.

Bilateral trade posted strong growth during the 2023-24 financial year, reaching approximately $84.88 million, representing an increase of nearly 15% compared to the previous year. India remained the dominant exporter, shipping goods valued at roughly $76.19 million, while imports from Seychelles totaled about $8.69 million. The steady rise in trade highlights the expanding commercial relationship and increasing demand for goods exchanged between the two nations.

Trade activity remained stable during the April 2024 through February 2025 period. During those months, total bilateral trade stood at approximately $72.92 million. Indian exports accounted for nearly $68.64 million, while imports from Seychelles were valued at around $4.28 million. These figures demonstrate that economic engagement has continued despite broader global market uncertainties, reinforcing the resilience of the partnership.

Several leading Indian businesses have expanded operations in Seychelles, contributing to the country’s banking, telecommunications, and automotive sectors. Companies including Bank of Baroda, Bharti Airtel, Tata Motors, and Ashok Leyland have strengthened their presence, supporting investment and commercial growth. Improved transportation links have also enhanced bilateral engagement. IndiGo’s launch of four direct weekly flights connecting Mumbai and Mahé in 2025 has made travel more convenient for tourists, business professionals, and members of the Indian diaspora, encouraging stronger people-to-people connections.

Beyond commerce, India and Seychelles have broadened cooperation in renewable energy and environmental sustainability. As one of the founding members of the International Solar Alliance in 2017, Seychelles has partnered with India on multiple clean energy projects. A notable achievement includes the commissioning of a solar-powered cold storage facility with a five-metric-ton capacity on Praslin Island in 2024. Additional initiatives involving rooftop solar installations, solar-powered irrigation pumps, and solar chillers are expected to move forward under the Quad Climate Initiative.

Environmental collaboration also remains a central pillar of bilateral relations. The Blue Economy Protocol signed in 2015 continues to promote responsible marine resource management and ocean conservation, while the Tax Information Exchange Agreement has strengthened financial transparency and economic cooperation. Prime Minister Narendra Modi’s upcoming state visit is expected to provide additional momentum for trade, investment, renewable energy, and sustainable development projects, further solidifying India’s position as a dependable development partner for Seychelles and the wider Indian Ocean region.

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India’s emerging wave of new-age consumer brands is rapidly reshaping the fast-moving consumer goods (FMCG) landscape, growing at more than three times the pace of the overall market. These so-called “insurgent” brands are gaining significant traction by leveraging digital platforms, evolving consumer preferences, and fast-paced product innovation.

According to findings from a report by Bain & Company and DSG Consumer Partners, this segment of brands generated approximately $7.5 billion in revenue in FY25, a substantial rise from about $2 billion five years earlier. This sharp increase highlights how quickly newer companies are scaling within India’s expanding consumer economy.

Although these brands still represent less than 2% of most consumer product categories, they are consistently outperforming established players in terms of growth. Their success is largely driven by their ability to identify and serve niche demand segments that were previously underserved by traditional FMCG companies.

The report noted particularly strong performance in categories such as jewellery and beauty, where these emerging brands are expanding at rates up to six times faster than the broader market. Other segments, including snacks, personal care, home essentials, and wearable products, are also witnessing similar momentum as newer players continue to enter and expand.

A key driver of this growth has been the rapid expansion of digital commerce and quick commerce platforms, which have significantly reduced barriers to customer acquisition and product distribution. These platforms have allowed brands to reach consumers faster, test new products efficiently, and scale operations with greater agility.

New-age companies are also focusing on innovation-led positioning, offering products such as high-protein snacks, health-oriented beverages, scientifically formulated skincare solutions, and ergonomic lifestyle products. This targeted approach has helped them build strong customer loyalty and differentiate themselves in a crowded marketplace.

Despite their strong growth trajectory, scaling remains a major challenge in the sector. The report highlighted that only a small fraction of companies founded since 2008 have crossed the $12 million revenue mark, and even fewer have scaled beyond $60 million. However, the continued expansion of this ecosystem signals strong entrepreneurial momentum and growing maturity in India’s digital-first consumer economy.

Overall, the rise of these new consumer brands reflects a broader transformation in India’s retail landscape, where digital access, innovation, and changing lifestyles are reshaping how products are created, marketed, and consumed.

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India’s new-generation consumer brands are rapidly reshaping the fast-moving consumer goods landscape, expanding at a pace more than three times faster than the overall market they operate in. A recent report by Bain & Company and DSG Consumer Partners highlights the growing influence of these emerging players, often referred to as “insurgent brands,” across multiple consumer categories.

The report estimates that this ecosystem generated approximately $7.5 billion in revenue in FY25, a sharp increase from about $2 billion five years earlier. This growth reflects the accelerating shift in consumer preferences, driven by digital-first purchasing habits, evolving lifestyles, and increased exposure to niche and premium products.

Although these brands still represent less than 2% of most consumer segments, they are consistently outperforming established players by targeting unmet demand and offering highly specialized products. Their presence is especially strong in categories such as snacks, beauty and personal care, jewellery, home essentials, and wearable products.

Some of the fastest-growing segments include jewellery and beauty, where insurgent brands have expanded at nearly 6.5 times and six times faster than the broader market, respectively. These companies are gaining traction by focusing on differentiated offerings such as protein-enriched snacks, functional beverages, science-based skincare solutions, and ergonomically designed home products.

The rise of quick commerce platforms and digital marketplaces has further strengthened this momentum. Faster delivery systems, improved product discovery, and targeted online marketing have enabled these brands to reach consumers more efficiently and scale their operations at a much quicker pace than traditional retail channels.

Despite their strong growth trajectory, scaling remains a significant challenge for many of these businesses. The report notes that fewer than 1% of consumer companies founded after 2008 have crossed $12 million in revenue, while only about 22% have managed to grow beyond $60 million. This highlights the competitive and capital-intensive nature of the sector.

Still, the rapid rise of these new-age brands reflects the broader transformation of India’s consumer economy. Changing buyer behavior, increasing digital penetration, and a stronger focus on innovation are collectively reshaping the FMCG industry and creating new opportunities for entrepreneurial growth across the country.

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 India’s flagship direct benefit transfer initiative, the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN), continues to play a pivotal role in strengthening income stability and financial inclusion among the country’s farming households. The scheme, launched in February 2019, has steadily expanded its reach and impact, positioning itself as one of the largest farmer income support programmes globally.

On June 20, 2026, the government released the 23rd instalment under PM-KISAN, transferring more than $1.99 billion directly into the bank accounts of approximately 944 million farmer beneficiaries across the country. This included over 218 million women farmers, highlighting the scheme’s inclusive approach to rural empowerment. Since its inception, cumulative disbursements have crossed $47.09 billion through the Direct Benefit Transfer (DBT) system, ensuring that financial assistance reaches farmers without intermediaries.

Under the scheme’s structure, eligible farmer families receive $63.35 annually in three equal instalments. This income support is designed to help farmers manage essential agricultural expenses such as seeds, fertilizers, pesticides, and other farm inputs. Over time, PM-KISAN has become a critical financial cushion, especially for small and marginal farmers who depend heavily on seasonal agricultural cycles.

The Union Budget 2026–27 has further reinforced the government’s commitment by allocating approximately $6.34 billion for the scheme, ensuring its continued operation and outreach across rural India. This sustained investment reflects the programme’s importance in the broader strategy of enhancing agricultural resilience and rural economic stability.

Beyond direct income transfers, PM-KISAN has evolved into a digitally driven governance model that integrates technology into welfare delivery. The scheme uses Aadhaar-based authentication, electronic Know Your Customer (e-KYC) verification, and online registration systems accessible through government portals, Common Service Centres, and mobile applications. These digital mechanisms have improved transparency, reduced leakages, and streamlined beneficiary identification.

The programme is also supported by several complementary government initiatives aimed at strengthening India’s agricultural ecosystem. These include AgriStack for digital farm records, the Pradhan Mantri Fasal Bima Yojana (PMFBY) for crop insurance protection, the National Mission on Natural Farming promoting sustainable practices, and the PM Dhan-Dhaanya Krishi Yojana focused on agricultural development.

Additionally, the AI-enabled Kisan-eMitra chatbot provides farmers with real-time assistance in multiple Indian languages, offering updates on payments, eligibility, registration, and grievance redressal. This integration of artificial intelligence into agricultural services reflects a broader shift toward technology-enabled rural governance.

Studies and policy assessments indicate that PM-KISAN has encouraged greater farm-level investment, improved productivity, and contributed to rising rural incomes. Over time, the scheme has emerged as a cornerstone of India’s efforts to modernize agriculture while ensuring inclusive growth and financial security for millions of farming families.

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