Winning Bizness Desk
India’s CEA Says Country Can Be Back on 7 pc Growth Path by FY 28
India can be back on the seven per cent growth path by FY 28 on the back of macro-stability and supply measures, the country’s Chief Economic Adviser Mr V Anantha Nageswaran said.
He, however, added that growth would be contingent on improvement in external conditions.
Here, it must be pointed out that the Reserve Bank of India (RBI), just a few days ago, lowered its GDP forecast for this fiscal (FY 27) to 6.6 per cent from the 6.9 per cent estimated earlier in April.
The country’s apex bank cited elevated energy and other commodity prices as well as continued supply disruptions arising from the conflict in West Asia as likely to influence economic activity.
“We have no reason to second-guess them (the RBI forecast) at this point because there are both possibilities on the upside and on the downside with respect to the numbers that they have presented,” he said.
“So, even if the growth were to slip below seven per cent as the RBI forecast suggests, macro-stability measures and supply assurances will bring us back to a seven per cent-plus growth track in FY 28 or as soon as external conditions improve,” Mr Nageswaran said.
Talking about nominal GDP, the country’s CEA said that it was a fair estimate that it would overshoot the 10.1 per cent estimated in the budget 2027, given the upward momentum of retail inflation.
“The good news is that the nominal GDP growth will be significantly higher than the number which the budget estimate used, which is 10.1 per cent for the current financial year,” he said.
After Op Sindoor, High International Interest in Indian Weapon Systems
There is now visible a very high global demand for Indian weapons such as the Brahmos, Akash, loitering munitions and Netra following the tremendous success of these systems during Op Sindoor last year.
Many countries have expressed an interest in purchasing these weapons systems while deals worth thousands of crores of rupees have already been signed with others.
The total value of deals exceeds Rs 21,000-crore.
The Ministry of Defence (MoD) said the country’s defence exports have reached a record Rs 38,424-crore in 2025-26, up 62 per cent from the previous year.
Deals worth around Rs 12,500-crore for Brahmos missiles have been signed with the Philippines, Vietnam and some other countries.
A deal worth about Rs 3.600-crore with Indonesia is in the final approval stage.
Armenia has already signed a Rs 6,100-crore contract for the Akash missile system. India now exports defence equipment to more than 100 countries, with the US, France and Armenia among key buyers.
India Plans to Order Military Drones Worth Over USD 2-bn from Domestic Manufacturers
The country plans to place its biggest-ever military drone purchase order (of over USD 2-billion) from domestic firms this year. This will mark the largest-ever procurement of unmanned aerial systems.
The proposed acquisition is in an advanced stage of planning with deliveries expected within 18-24-months. This also marks the country’s growing emphasis on indigenous defence production and the increasing role of drones in modern warfare.
An important point that needs highlighting here is that this proposed order is far larger than previous drone purchases made by the government. Industry estimates suggest that the new procurement could be worth more than Rs 20,000-crore, compared with recent orders of around Rs 3,000-crore for tactical drones.
If approved, then this will rank amongst the biggest investments inn the country’s drone industry to date.
India’s drone industry has grown significantly in recent years, with more than 600 companies now producing drones and related components. It is estimated that over 100 of these firms are engaged in defence related work.
This sector includes large industrial groups as well as specialised start-ups developing reconnaissance, logistics, loitering munitions and precision-strike systems. The government’s procurement initiative comes in the wake of the recent Indo-Pak war, where drones were used extensively.
Here, it must be pointed out that government policies have played a crucial role in the development of this sector.
Initiatives such as Innovations for Defence Excellence or iDEX have helped start-ups secure funding and develop prototypes for military use.
What needs highlighting here is that this procurement push will provide a major boost to home-grown drone manufacturers, improve production scale and attract further investment into defence technology.
If approved, the order will underline the country’s determination to reduce dependence on imported military hardware while building a globally competitive defence manufacturing base.
Adani Group Company Plants 1.6-mn Trees Across 568-Hectares in Chhattisgarh
Adani Enterprises Limited is planting more than 1,6-million trees and saplings across 568-hectares at the Parsa East and Kanta Basan (PEKB) mine in Chhattisgarh’s Surguja district.
The company operates the mine as developer and operator for Rajasthan Rajya Vidyut Utpadan Nigam Ltd (RVUNL).
The company plans to increase the green cover to more than four-million trees by end-this decade as part of efforts to restore mined land and enhance bio-diversity in the region.
Under the programme, 40 trees are panted for every tree removed for mining activities.
Native species including Sal, Mahua, Tendu, Amaltas and Sidha have been replanted with the company reporting a survival rate of about 88 per cent.
The Union Coal Ministry called the ecological restoration of PEKB coalmines a “remarkable” example of commitment.
Once an active mining site, the area has now been transformed into a lush green landscape, reflecting how reasonable mining practices and environmental conservation can go hand in hand, it said.
The Adani group has also developed a 3.5-hectare nursery, housing about five-lakh saplings and achieved the successful regeneration of Sal forests in the area.
It has also undertaken compensatory afforestation across more than 4,000-hectares while over Rs 259-crore has been deposited with the Chhattisgarh government towards afforestation, officials said.
Apart from environmental initiatives, Adani Natural Resources continues to support local communities through programmes focussed on education, healthcare and livelihood development in the mining region.
