India's Ministry of Defense has announced a 10% increase in its defense budget for fiscal 2026 which begins April 1, reaching a record $78.3 billion amid security challenges from Pakistan and China. The budget breakdown reveals that 26.4% ($20.7 billion) is allocated for new acquisitions. Major planned purchases include (General...
Quad Diplomats Discuss Asia-Pacific Challenges
Top diplomats from Japan, the U.S., Australia, and India -- known as the Quad-- recently met in Tokyo. The meeting focused on addressing growing tensions in the Asia-Pacific region, particularly in maritime areas. Key points from the meeting include: 1. The diplomats expressed concern about tensions in regional seas...
India Reviews $21 Billion in Semiconductor Proposals
The Indian government is reviewing investment proposals totaling $21 billion to boost chip manufacturing in the country. According to a Bloomberg report, the proposals encompass diverse ventures from both Indian conglomerates and international players. Israel's Tower Semiconductor has proposed a $9 billion chip plant in Gujarat. Its proposed plant may...
U.S. Among Top Destination for India’s Petroleum Products in November ‘22
In November 2022, The U.S. sourced refined petroleum products worth $588 million from India. Analysts said that the imports increased amid the high demand for crude ahead of the U.S. holiday season. Europe’s November imports of petroleum products from India also showed significant changes: Portugal, Belgium, and Italy increased imports...
India Is Part of a New ‘Quartet’ Formed in West Asia
On October 20, foreign ministers from India, Israel, the United Arab Emirates, and the United States came together to form what they called an "international forum for economic cooperation." India's External Affairs Minister Dr. S Jaishankar, and Israeli Foreign Minister Yair Lapid joined the U.S. Secretary of State, Antony Blinken,...
India’s Foreign Investments Double Year-on-Year
Data from India's central bank, shows that outward foreign investment in the first month of this current fiscal year (April 2021) increased by more than two-times year-on-year to $2.51 billion. Of this amount, $1.75 billion was in the form of loans, $421 million was equity capital, and $333 million was...