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S4Capital chief praises India at WEF 2026, Davos

At the World Economic Forum (WEF) 2026 in Davos, global advertising veteran Sir Martin Sorrell offered strong praise for India’s economic performance and political leadership, describing the country as a rare “pocket of growth” in an otherwise uncertain global environment.

Speaking on the sidelines of the annual summit, the S4Capital chairman said Prime Minister Narendra Modi is “on fire”, crediting his leadership for sustaining India’s growth momentum at a time when several major economies are struggling to expand. Sorrell pointed out that India is expected to grow at around 6 percent, significantly higher than the global average, which remains below 3 percent.

Comparing India with other major economies, Sorrell noted that growth in the United States is likely to remain in the range of 2.6 to 2.8 percent, while China is projected to grow at about 5 percent. Against this backdrop, India stands out as one of the fastest-growing large economies, strengthening its appeal to global investors and businesses looking for stability and scale.

Sorrell said India’s strong economic fundamentals, combined with its demographic advantage and expanding digital ecosystem, make it an attractive alternative within Asia. He described the country as a “beacon of growth” and a natural destination for companies seeking long-term opportunities amid geopolitical and economic uncertainty.

The S4Capital chief also highlighted the growing visibility of Indian corporate leaders at Davos, noting that executives from leading Indian groups are increasingly confident, outward-looking, and active on the global stage. According to him, this rising presence reflects India’s growing influence in global business and policy discussions.

On the diplomatic front, Sorrell praised Modi’s handling of international relationships, particularly with the United States, saying the prime minister has managed global expectations effectively while strengthening India’s brand abroad. Drawing from his background in branding and communications, Sorrell said India’s current global positioning is strong and largely positive.

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Beyond

India’s power utilities make ₹2,701 cr profit after

India’s electricity distribution companies (DISCOMs) have recorded a net profit of ₹2,701 crore in FY25, marking a significant turnaround after years of heavy losses. In FY24, these utilities had reported a combined loss of ₹25,553 crore, and the sector had faced even larger deficits in previous years.

Union Power Minister Manohar Lal welcomed the results, calling them a “new chapter” for the sector. He highlighted that a financially healthy power distribution system is essential for India’s economic growth and development goals.

The turnaround is mainly attributed to several policy and operational reforms. Programs like the Revamped Distribution Sector Scheme (RDSS) helped modernize infrastructure, install smart meters, and improve efficiency. New rules for electricity tariffs and subsidies also made cost recovery more transparent and reliable.

Efficiency has improved significantly. Technical and commercial losses, energy lost or not billed, have dropped from 22.6% in 2013–14 to 15% in FY25. The gap between the cost of supply and revenue earned narrowed to just ₹0.06 per unit, compared with ₹0.78 per unit a decade ago.

Financial management has also strengthened. Outstanding dues to power generators fell dramatically by 96%, from ₹1.39 lakh crore in 2022 to ₹4,927 crore in January 2026. The average payment cycle for utilities shortened from 178 days in FY21 to 113 days in FY25, ensuring smoother cash flow and timely payments.

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Fresh electronics projects to bring ₹41,800 cr investment, jobs

India’s ambition to become a global electronics manufacturing hub received a fresh boost as the Centre approved 22 new electronics component manufacturing projects under the Electronics Components Manufacturing Scheme (ECMS). The decision is expected to strengthen domestic supply chains, create jobs, and reduce the country’s dependence on imported components.

Together, these newly cleared projects are likely to bring in investments of about ₹41,863 crore and generate electronics production worth nearly ₹2.6 lakh crore in the coming years. More importantly, the initiative is expected to create close to 34,000 direct jobs, offering fresh opportunities for skilled and semi-skilled workers across the country.

This round marks the third set of approvals under the ECMS. With this, the total number of projects sanctioned so far has risen to 46, pushing overall committed investments beyond ₹54,500 crore. The government sees component manufacturing as the missing link in India’s electronics growth story, which has so far been driven largely by assembly operations.

The approved projects cover 11 critical component categories that form the backbone of modern electronics. These include printed circuit boards, display and camera sub-assemblies, connectors, enclosures, capacitors, lithium-ion battery cells and materials used in advanced batteries. Such components are essential for products ranging from smartphones and consumer electronics to electric vehicles, telecom equipment and IT hardware.

Several leading Indian and global companies will be setting up or expanding facilities under the scheme. Manufacturing units are planned across states such as Tamil Nadu, Karnataka, Maharashtra, Uttar Pradesh, Andhra Pradesh, Haryana, Rajasthan and Madhya Pradesh, helping spread industrial growth beyond a few established hubs.

Union Electronics and IT Minister Ashwini Vaishnaw said the focus on components is crucial for building a resilient and competitive electronics ecosystem. He underlined that deeper manufacturing and design capabilities would allow India to move up the value chain and compete globally.

The latest approvals signal the government’s continued push to make electronics manufacturing a long-term growth engine—one that delivers jobs, attracts investment and positions India as a trusted global supply base.

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India’s first bullet train set for 2027 launch

India will roll out its first bullet train on August 15, 2027, Union Railway Minister Ashwini Vaishnaw has announced.

The high-speed service will operate on the 508-km Mumbai–Ahmedabad corridor, connecting key cities such as Ahmedabad, Vadodara, Surat, Vapi, Thane and Mumbai.

Designed to run at speeds of up to 320 kmph, the bullet train will reduce travel time between Mumbai and Ahmedabad to less than three hours.

The project will be launched in phases, with select stretches opening first before full operations begin.

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India slaps 3 year safeguard duty on steel imports

India has imposed a safeguard duty on select steel products for a period of three years to curb the inflow of low-priced imports that have been affecting domestic manufacturers. The move follows a detailed investigation that found a sharp rise in steel imports, particularly from China, causing stress to India’s steel industry.

Under the new notification, imports of certain non-alloy and alloy steel products will attract a duty of 12% in the first year. This will be gradually reduced to 11.5% in the second year and 11% in the third year. The graded structure is intended to give domestic producers time to stabilise operations while ensuring fair competition in the market.

The safeguard duty was recommended by the Directorate General of Trade Remedies (DGTR), which concluded that the surge in imports was sudden and significant, posing a risk of serious injury to Indian steelmakers. Industry bodies had flagged concerns that cheap steel shipments were undercutting local prices, impacting profitability and capacity utilisation across the sector.

While the measure is largely targeted at imports from China, it will also apply to steel inflows from countries such as Vietnam and Nepal. However, imports from certain developing nations have been exempted in line with global trade rules. High-end and specialty steel products, including stainless steel, are not covered under the duty.

The decision comes after a temporary 200-day safeguard duty imposed earlier this year expired in November. With India being the world’s second-largest steel producer, the government has emphasised the need to protect domestic manufacturing, jobs and long-term investment in the sector, while maintaining stable supply for downstream industries.

Also Read: India moves up to 4th spot in global economy rankings

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Beyond

India moves up to 4th spot in global economy rankings

India has climbed to fourth place among the world’s largest economies, overtaking Japan in terms of nominal Gross Domestic Product (GDP), according to the government’s latest assessment. With its economy now valued at around USD 4.18 trillion, India stands behind only the United States, China, and Germany, marking a key moment in the country’s growth story.

The government attributed this rise to strong and steady economic expansion despite global challenges such as slowing trade, high inflation in advanced economies, and geopolitical uncertainties. India continues to be the fastest-growing major economy, supported mainly by robust domestic demand, higher consumer spending, and sustained public investment.

Recent economic data shows a sharp improvement in growth during the second quarter of the current financial year. Strong performance in manufacturing, services, and infrastructure activity has helped accelerate overall output. Policy reforms, digital transformation, and efforts to improve the ease of doing business have also played an important role in strengthening economic activity.

International agencies have responded positively to India’s progress. Institutions such as the International Monetary Fund and the World Bank have projected that India’s economy will grow at over 6 per cent annually in the coming years, well ahead of most large economies. These forecasts underline India’s growing role as a major contributor to global growth.

Looking ahead, the government said India is expected to surpass Germany and move into third place within the next two to three years if current growth trends continue. By the end of the decade, India’s economy is projected to expand significantly, driven by a young population, a rising middle class, and increased investment in manufacturing, technology, and infrastructure.

Economists, however, note that challenges remain. While the economy’s overall size has increased rapidly, per capita income levels remain relatively low, pointing to the need for inclusive growth, job creation, and stronger outcomes in health, education, and skills.

Still, India’s rise in the global economic rankings highlights its growing influence and long-term potential on the world stage.

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India’s industrial output jumps 6.7% in November

India’s industrial production rose sharply by 6.7% in November, recording its fastest growth in over two years, according to official data.

The surge was mainly driven by a strong recovery in manufacturing output, which grew around 8%, supported by higher production of automobiles, pharmaceuticals, metals and consumer goods.

Mining activity also showed improvement, reflecting steady demand. However, electricity generation remained weak, showing a slight contraction during the month.

The sharp rise in the Index of Industrial Production (IIP) marks a significant rebound from October’s muted performance and signals improving economic momentum amid festive demand and rising consumption.

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Scindia flags security, pricing delays in satellite internet rollout

Satellite internet services in India have not yet begun commercial operations due to pending security approvals and unresolved spectrum pricing, Union Telecom Minister Jyotiraditya Scindia has said.

Companies such as Starlink, OneWeb and Jio Satellite Global Services have already received licences to operate in the country. However, Scindia clarified that services can start only after all regulatory and security conditions are fully met.

The minister said satellite communication companies must demonstrate compliance with national security norms. These include setting up lawful interception systems for security agencies, ensuring secure handling of Indian user data, and establishing approved international gateways. Security agencies must be satisfied with these arrangements before giving the final clearance.

To support this process, the government has allotted provisional spectrum to the companies so they can test their systems and prove compliance. Final spectrum allocation will be granted only after security requirements are fulfilled.

Another key factor delaying the launch is spectrum pricing. The Department of Telecommunications and the Telecom Regulatory Authority of India are still discussing the pricing framework for satellite internet services. Issues such as the method of charging spectrum fees and the overall cost structure are yet to be finalised.

Differences between the regulator and the department on certain pricing elements have slowed the decision-making process. The final pricing policy is expected to be cleared by senior government bodies, including the Digital Communication Commission and, if required, the Cabinet.

Scindia said the government is keen to promote satellite internet services, especially for improving connectivity in remote and underserved regions. However, he stressed that security and regulatory safeguards remain a priority.

Once security clearances are completed and spectrum pricing is approved, satellite internet services are expected to be rolled out in a phased manner across India.

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India to miss $1trillion export goal

India’s exports for FY26 are projected at around $850 billion, falling short of the $1 trillion target, according to the Global Trade Research Initiative (GTRI).

Sluggish global demand, especially from the US and EU, and rising protectionism are limiting merchandise export growth. While India has signed 18 free trade agreements, GTRI notes that more effort is needed to make them effective.

Expanding export products and markets, along with improving competitiveness, will be crucial. Services exports may help offset shortfalls, but without strategic action, the $1 trillion milestone remains out of reach.

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Beyond

India tests long-range submarine K‑4 missile

India has successfully test-fired its K‑4 submarine-launched ballistic missile (SLBM) from the nuclear-powered submarine INS Arighaat in the Bay of Bengal. The missile, with a range of 3,500 kilometres, represents a major step forward in strengthening India’s sea-based nuclear deterrence.

The launch was conducted under the supervision of the Strategic Forces Command. Defence analysts describe it as a significant move in boosting India’s “second-strike” capability, ensuring that the country retains the option to respond even if faced with a nuclear attack. The test underlines India’s progress toward operationalising a credible nuclear triad – the ability to deploy nuclear weapons from land, air, and sea.

Developed by the Defence Research and Development Organisation (DRDO), the K‑4 missile is a solid-fuel, intermediate-range weapon. It can carry a nuclear warhead of up to 2.5 tonnes. Designed for underwater launch, the missile exits the submarine, rises through the water, and then ignites its rocket motor to reach distant targets.

Previously, India’s submarines carried K‑15 missiles with a shorter range of around 750 km. The K‑4 dramatically extends the reach of India’s sea-based strategic forces, allowing for more flexible deployment and greater deterrence.

INS Arighaat, commissioned in August 2024, is India’s second nuclear-powered ballistic missile submarine. Its integration with the K‑4 missile marks a key milestone in strengthening the operational readiness of India’s strategic submarine fleet.

Although the Defence Ministry has not released an official statement, analysts say the test signals India’s growing strategic capabilities. With this achievement, India joins a small group of countries capable of firing long-range nuclear missiles from submarines, enhancing regional security posture and deterrence.

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