Prime Minister Narendra Modi on Friday said India and New Zealand are working towards linking India's Unified Payments Interface (UPI) with New Zealand's payment system, marking a significant step in expanding digital and financial cooperation between the two countries. Addressing the Indian community in Auckland during his two-day visit, Modi said the proposed integration would strengthen bilateral collaboration in fintech while making cross-border digital transactions more seamless. "We are moving ahead with connecting India's UPI and New Zealand's payment system," the Prime Minister
On Thursday, Prime Minister Narendra Modi said India is building a manufacturing "chips to ships" ecosystem while investing in emerging technologies such as 6G, as the country works towards becoming a developed nation. Addressing members of the Indian community in Melbourne, Modi said India has emerged as the world's third-largest startup ecosystem, with more than two lakh registered startups and over 4,000 new startups being launched every month. He added that entrepreneurship is no longer limited to major cities, and innovation is expanding rapidly across districts. Highli
Australia and India have signed a uranium export agreement, paving the way for Australian uranium supplies to support India's expanding civil nuclear energy programme. The deal was announced during Prime Minister Narendra Modi's visit to Australia, the second leg of his ongoing three-nation tour after Indonesia. The agreement allows Australia to export uranium to India for peaceful civilian use, reinforcing the growing strategic partnership between the two countries. Australian Prime Minister Anthony Albanese described the agreement as a significant step towards supporting India's long-ter
Sri Lanka has officially returned to the upper middle income country category under the World Bank's latest annual income classification, marking a significant milestone in the country's economic recovery after years of financial turmoil. The reclassification is the first since 2019 and follows Sri Lanka's gradual recovery from the economic crisis that peaked in 2022. According to the World Bank, the country's improving macroeconomic stability, stronger export performance, and sustained policy reforms have helped lift its gross national income (GNI) per capita above the threshold required
Finance Minister Nirmala Sitharaman said India's growing middle class will remain the country's primary growth engine, with approximately 500 cities expected to emerge as new centres of economic activity, reshaping the nation's economic landscape. At the Rencontres Économiques d'Aix-en-Provence in France, Sitharaman said the middle class currently accounts for 31 per cent of India's population and is expanding at an annual rate of 6.3 per cent since economic liberalisation. She noted that the middle class is expected to drive 93 per cent of consumer spending in India, with growth conce
The United Nations AI report has warned that advances in artificial intelligence could deepen global inequalities, urging governments to strengthen oversight and ensure that emerging economies also progress in the race for AI leadership. The Preliminary Report of the Independent International Scientific Panel on AI highlights a widening divide between the Global North and the Global South, noting that wealthier nations and major technology companies capture most of the benefits of advanced AI systems. It warns that developing countries face growing challenges in regulating technologies tha
PM Narendra Modi and Japan PM Takaichi inaugurated Maruti Suzuki India's Kharkhoda manufacturing plant in Haryana on Friday, marking a major milestone in India-Japan industrial cooperation in the automotive sector. Maruti Suzuki's newest manufacturing facility in Kharkhoda has been developed with an investment of approximately ₹35,000 crores across 800 acres. The plant is expected to become the company's largest production hub in India, with a projected annual manufacturing capacity of 10 lakh vehicles. Maruti Suzuki has already commenced commercial production at the facility, its ope
Adani Enterprises has signed a joint venture agreement with Abu Dhabi-based International Holding Company (IHC) to develop an $11.5 billion integrated aluminium project in Odisha, marking one of the largest foreign-backed industrial investments in India's metals sector. The project will be developed through a new joint venture with Adani Enterprises, holding a 70 per cent stake, with IHC holding the rest. Together, the companies plan to establish India's largest integrated aluminium manufacturing facility. The proposed investment includes Rs 46,000 crore for the aluminium plant and Rs 4
South Korea's exports surpassed $100 billion in a month for the first time, driven by soaring semiconductor demand amid the global artificial intelligence boom. According to the Ministry of Trade, Industry and Resources, exports rose 70.9 per cent year-on-year to a record $102.25 billion, making South Korea the fourth country, after Germany, China, and the United States, to exceed $100 billion in monthly exports. Semiconductors led the surge, with exports nearly tripling to $44.82 billion, 199.5 per cent growth from a year earlier, marking the first time the country's monthly semiconduc
Prime Minister Narendra Modi welcomed Amazon's USD 48 billion investment in India, stating that the commitment reflects global confidence in the country's investment potential and will create new opportunities for India's youth. Prime Minister Modi met Amazon President and CEO Andy Jassy in New Delhi, where they discussed and unveiled plans to invest USD 48 billion in India between 2026 and 2030, from an earlier commitment of USD 35 billion. More than USD 21 billion of the planned investment will be directed towards expanding artificial intelligence and cloud infrastructure, inclu