Real estate emerges as fastest-growing services sub-sector, up 24.7 per cent in June
This is an AI-generated summary. ShortSingh links to the original source for the complete article.
This is an AI-generated summary. ShortSingh links to the original source for the complete article.
The Indian Army has finally initiated a comprehensive overhaul of its domestically built Arjun tanks, six years behind schedule. Two Mk-1 tanks will undergo upgrades as part of a pilot program to guide the refurbishment of the remaining 124 vehicles in the fleet. The exercise is aimed at improving the operational readiness of the Arjun tank force. Meanwhile, the upgraded Arjun Mk-1A variant continues to face delivery setbacks due to engine supply constraints. The development highlights ongoing challenges in India's defense manufacturing sector despite sustained efforts toward self-reliance.
India's manufacturing sector recorded its slowest growth in five years during August, with the Purchasing Managers' Index (PMI) falling to 52.8. Both production output and new orders declined during the month, pushing activity to its weakest level since August 2021. The slowdown also triggered a contraction in factory employment for the first time in two and a half years. Overseas demand weakened overall, despite a marginal uptick in purchasing activity. Business confidence improved slightly but stayed below long-term historical averages.
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