Redefining sovereignty: India’s path to defence autonomy
Trade Promotion Council of India
Apex trade and investment promotion organization notified by the Department of Commerce, Government of India
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Hotel brands to add 94,000 rooms in India by 2029
India is witnessing a boom in branded hotel room development, with 94,000 new rooms expected by 2028-29. Driven by rising travel demand, key players like IHCL, Marriott International, and Radisson Hotel Group are rapidly expanding their portfolios, especially in tier 2 and 3 cities, focusing on quality and meeting the needs of a wide range of travellers.
LEAD STORY
India's march towards self reliance in defence
India’s defence sector has experienced significant growth, with domestic production nearly tripling and exports increasing 21-fold over two decades. A key policy reform allowing 100% private sector participation has driven this transformation, supported by initiatives like “Make in India” and “Aatmanirbhar Bharat.” Notably, defence exports surged by 78% in Q1 of FY 2024-25.
The government has allocated ?6.2 lakh crore (US$ 73.8 billion) to the Ministry of Defence for 2024-25, signalling a 4.8% YoY increase and underscoring its commitment to strengthening national security. It has set a target for India’s defence exports to reach ?50,000 crore (US$ 5.9 billion) by 2029-30.
FACT OF THE DAY
Mumbai is set to have its first elevated forest walkway by the end of this year. Drawing inspiration from Singapore’s popular elevated forest walkways, this project will connect Kamala Nehru Park with the lush woods of Doongerwadi,
Majority of sectors in Indian economy on the rise
Around 55% of sectors in the Indian economy are growing positively despite recent fluctuations, as per a report HSBC Global Research. Government investments and a diversified export basket are driving this growth, while favorable weather conditions are improving agricultural prospects.
HIGHLIGHT OF THE DAY
IIT Bombay’s startup incubator SINE (Society for Innovation & Entrepreneurship) is planning to launch a Rs 100-crore venture capital fund to invest in deep tech startups. Once finalised, the fund will raise subscriptions from IIT Bombay alumni and focus on science, biotech, space, defense, and other national priority sectors.
RMG sector projects 4-6% growth in FY '25
The Indian readymade garments (RMG) industry is expected to see its revenue growth moderate to 4-6% in fiscal 2024-25, down from 6% in the previous year, as per a CRISIL Ratings report. While domestic demand is expected to cool, export growth—projected at 5-7% this fiscal—may counterbalance the slowdown.
81% of Indian consumers favor human-like AI
Indian consumers increasingly prefer AI with human-like traits, with 81% showing high trust in the technology. Businesses respond as AI copilots and personalization tools drive efficiency and customer loyalty. However, rising shadow AI use raises security concerns, pushing firms to adopt compliant solutions.
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