India explores joining FCAS or GCAP sixth-generation fighter jet programmes

by Hansraj Agrawal | Mar 18, 2026 | Business

The proposal aligns with India’s broader strategy of balancing indigenous development like AMCA with selective global collaborations to strengthen future air combat capabilities. (A file photo)
| Photo Credit:
CHARLES PLATIAU

India is exploring joining one of two major European consortia developing sixth-generation fighter aircraft, according to a recent report by a Parliamentary panel.

The panel has recommended that the government evaluate collaboration with either the Future Combat Air System (FCAS) or the Global Combat Air Programme (GCAP)—two ambitious multinational projects to develop next-generation air combat platforms.

FCAS and GCAP: Europe’s next-gen air combat push

FCAS is a joint initiative led by France, Germany and Spain, centred on a networked combat system that integrates a next-generation fighter aircraft with drones and advanced digital combat technologies. Meanwhile, GCAP is being developed by the United Kingdom, Italy and Japan to field a sixth-generation stealth fighter expected to enter service in the mid-2030s.

The Parliamentary panel noted that partnering with either programme could significantly accelerate India’s access to cutting-edge aerospace technologies, including artificial intelligence-enabled warfare systems, advanced sensors and manned-unmanned teaming capabilities.

Early talks with France, scope for co-development

According to the report, India has already shown interest in collaborating with European partners—particularly France—on FCAS, with preliminary discussions indicating openness to co-development and co-manufacturing arrangements.

However, the panel also highlighted key challenges, including concerns over technology transfer, intellectual property rights and the extent of India’s role in design and production. These factors, it said, must be carefully negotiated to safeguard India’s long-term strategic and industrial interests.

Balancing AMCA ambitions with global partnerships

The move comes as India continues to pursue its indigenous fifth-generation Advanced Medium Combat Aircraft (AMCA) programme, while simultaneously preparing for future sixth-generation capabilities.

The panel emphasised that a balanced approach—combining domestic development with selective international collaboration—would be critical for strengthening India’s air power and achieving self-reliance in advanced defence technologies.

If realised, such a partnership would mark a significant step in India’s efforts to position itself among a select group of nations developing next-generation fighter aircraft systems.

Published on March 18, 2026

Source link

RNFI, Jio Payments Bank roll out cardless cash withdrawals via UPI QR

by Hansraj Agrawal | Mar 18, 2026 | Business

RNFI Services, through its fintech platform Relipay, has made a nationwide rollout of its UPI QR-based cash withdrawal service in partnership with Jio Payments Bank, following a successful pilot phase.

The service enables customers to withdraw cash instantly by scanning a UPI QR code at authorized outlets in RNFI’s Business Correspondent network.

Customers can simply scan the QR code, enter the withdrawal amount, and authenticate using their UPI PIN.

Once completed, the merchant dispenses the cash, enabling a simple and frictionless assisted transaction experience.

Krishnakumar Daga, Chief Executive Officer, RNFI Services said UPI has transformed digital payments across India, but access to cash remains critical for millions, especially in rural and semi-urban markets.

The new service bridges that gap by combining the scale of UPI with the reach of the company’s assisted network, enabling secure and seamless last-mile cash access.

The service will be available across RNFI’s extensive merchant network, ensuring access to cash withdrawal services for customers across urban, semi-urban, and rural markets.

In addition to improving customer convenience, the rollout is expected to drive higher transaction volumes and deepen engagement across the company’s merchant ecosystem.

Some of the key features of the service include fast and secure cash withdrawals through UPI QR scan, availability across authorized retail outlets, no requirement for ATM cards or biometric authentication, and a seamless experience across all UPI-enabled applications.

The service offers a per transaction limit of ₹5,000, with a daily limit of ₹10,000 and a monthly limit of ₹50,000.

This launch marks a significant expansion of RNFI’s assisted digital banking offerings and strengthens its partnership with Jio Payments Bank. As UPI adoption continues to scale, QR-based cash withdrawals are expected to emerge as a key assisted transaction channel, particularly in markets where access to physical cash remains essential.

Published on March 18, 2026

Source link

Centre nudges airlines on free seat allocation, transparency norms

by Hansraj Agrawal | Mar 18, 2026 | Business

The move assumes significance given the current unbundled services framework, in which airlines price various components of travel separately
| Photo Credit:
enviromantic

In a passenger-centric move, the Centre has directed airlines to ensure that the selection of a minimum of 60 per cent of seats are made available free of charge, while also requiring carriers to seat passengers travelling on the same PNR together, preferably in adjacent seats.

As part of a broader push to improve transparency and standardisation, the Ministry of Civil Aviation, through the Directorate General of Civil Aviation (DGCA), has mandated airlines to clearly articulate policies on carriage of sports equipment, musical instruments and pets.

Besides, the directions mandate airlines to prominently display passenger rights across platforms and ensure communication of entitlements in regional languages.

The move assumes significance given the current unbundled services framework, in which airlines price various components of travel separately.

At present, most seat selections are chargeable, with passengers often paying extra for preferred seats or to ensure adjacent seating, even when travelling on a single booking.

Ancillary revenues, including seat selection, baggage and onboard services like food and beverages, account for an estimated 10–15 per cent of airline revenues, with seat selection contributing a relatively smaller share within this segment.

According to Kinjal Shah, Senior Vice President and Co-Group Head, Corporate Sector Ratings, ICRA, the DGCA directive is not going to have any material impact on the revenues of the airlines. “Ancillary revenues have accounted for less than 10 per cent of the revenues of Indian airlines over the last few years. Ancillary revenues comprise seat selection charges, extra baggage charges, and food sales, among others,” she said.

But there is still unease in the industry following the new norms, especially given the high cost of operations in the country.

“Given the crude oil price situation, it is very difficult for airlines to survive if the government continues to enforce policies that are financially unviable for the sector,” a senior executive of a leading low-cost carrier told businessline.

Another senior executive from a different airline said that the impact on fares may be limited, as seat selection charges themselves typically start at around ₹200 and form a small portion of overall ancillary revenues.

Globally, such practices are uncommon, with most aviation markets allowing airlines flexibility to price services under deregulated frameworks.

According to Mark Martin, Founder and CEO of Martin Consulting, “Selection of seats is considered a value-plus offering and preference. Although the 60 per cent limit will continue to allow airlines to sell window and aisle seats as a ‘value-plus add-on’, the bigger impact I see is with the Premium Economy product, as the middle seat in Premium Economy will need to be classified as a nil-value seat.”

The directions reiterate strict adherence to the existing passenger rights framework, particularly in cases of delays, cancellations and denied boarding.

While several of these provisions are already part of the regulatory framework, the latest directions are aimed at strengthening compliance and ensuring more uniform practices across airlines.

Published on March 18, 2026

Source link

India activates 1.2 lakh PNG connections as LPG supply faces West Asia disruption

by Hansraj Agrawal | Mar 18, 2026 | Business

India has activated over 1.2 lakh PNG connections in two weeks to counter LPG supply disruptions caused by the West Asia conflict.

The government has activated more than 1.20 lakh piped natural gas (PNG) connections for domestic, commercial, and industrial users, as well as CNG stations, over the last 2 weeks, as the conflict in West Asia continues to disrupt India’s LPG supplies, with commercial users bearing the brunt.

LPG supplies monitored, output increased

Besides, State governments have lifted almost 7,200 tonnes of liquefied petroleum gas (LPG) in the last four days. Sujata Sharma, Joint Secretary, Ministry of Petroleum and Natural Gas (MoPNG), during the briefing on West Asia on Wednesday, said that priority sectors continue to receive protected gas supplies, including 100 per cent supply to domestic PNG and compressed natural gas (CNG) transport, while supplies to industrial and commercial consumers are being regulated at around 80 per cent.

Commercial LPG consumers are being encouraged to switch to PNG, and establishments such as hotels, restaurants, hospitals and hostels can obtain PNG connections from authorised city gas distribution (CGD) entities. In the last two weeks, around 1.20 lakh new PNG connections have been issued, including domestic, commercial, industrial, and CNG stations, she added.

LPG supply continues to be monitored in view of the prevailing geopolitical situation, and no dry-outs have been reported at distributorships, said Sharma, adding that domestic LPG production from refineries has been increased by about 40 per cent.

Besides, no dry-outs have been reported at distributorships. This would mean that, compared to the average daily LPG production in February 2026 (37,929 tonnes), average daily output may have increased to roughly 53,100 tonnes.

States step up LPG allocation, supply stable

About 15 States/UTs, such as Bihar, Chhattisgarh, Delhi, Gujarat, Haryana, Himachal Pradesh, Jharkhand, Karnataka, Kerala, Manipur, Rajasthan, Uttarakhand, and others, have issued orders for the allocation of non-domestic LPG, and commercial LPG supply is being made available across the country. Sharma emphasised that domestic LPG cylinder deliveries are continuing as normal and instances of panic booking are reducing.

While online LPG bookings have increased from 83 per cent to 93 per cent, the delivery authentication code coverage has expanded from 53 per cent (February 2026) to about 81 per cent to prevent diversion. Regarding the supply of petrol and diesel, Sharma informed that all refineries are operating at high capacity and have adequate crude inventories. India has sufficient production of petrol and diesel, and no imports are required to meet domestic demand. No cases of fuel dry-outs have been reported.

Shipping and diplomatic efforts underway

On vessels idling around the Strait of Hormuz, Rakesh Kumar Sinha, Special Secretary at the Shipping Ministry, said there are 22 ships west of the Strait in the Persian Gulf. These vessels are loaded with roughly 3.2 lakh tonnes of LPG, two lakh tonnes of liquefied natural gas (LNG) and 16.7 lakh tonnes of crude oil.

Randhir Jaiswal, spokesperson for the Ministry of External Affairs, said the Ministry continues to closely monitor the evolving situation in West Asia and the Gulf region. The Ministry is in touch with Iran and other countries for the safe passage of these 22 vessels through the Strait.

Published on March 18, 2026

Source link

JBM Auto, Olectra Greentech, Ather Energy, Ola Electric shares zoom on optimistic EV growth outlook

by Hansraj Agrawal | Mar 18, 2026 | Business

Electric vehicle-related stocks JBM Auto, Ather Energy, Ola Electric Mobility and Olectra Greentech rallied sharply on Wednesday, defying broader weakness in the market as investors bet that persistently high crude oil prices could accelerate the shift toward electric mobility.

JBM Auto settled 19 per cent higher at ₹585.30 on the BSE. Olectra rallied over 17 per cent to ₹1058.15. Ather Energy and Ola Electrict settled 4-5 per cent positive.

Investors anticipate that rising fuel costs amid West Asia conflict will accelerate consumer demand for electric vehicles, as buyers increasingly look for cost-efficient alternatives to petrol and diesel transportation. At the same time, expectations of a targeted government push to reduce oil dependence are strengthening confidence in the sector’s long-term prospects.

Meanwhile, the auto sector had witnessed pressure recently due to heightened fears of natural gas supply disruption, fuel availability and rising cost pressures.

Published on March 18, 2026

Source link

Govt curbs import of diamond-studded gold, silver jewellery

by Hansraj Agrawal | Mar 18, 2026 | Business

The Indian government has restricted import of gold and silver jewellery studded with cheaper diamonds amid the discount of $30 an ounce offered in Dubai.

In a notification issued on Wednesday, the Government imposed a ban on the import of gold and silver jewellery studded with low-value diamonds.

While both gold and silver prices have taken a beating of late, the long term prospects of both precious metals appear to be firm given the raging war between the US and Iran.

With heavy bombings by Iran, the financial activities including bullion trade and tourism in Dubai have come to a standstill.

This has forced many bullion dealers to offer a discount of $30 an ounce. Once the flight services resume, the gold and silver jewellery may flow into India putting temporary pressure on domestic prices.

Until June 30

Amid this, the government has now amended the regulation concerning gold and silver and has issued a formal notification regarding the same.

According to the notification issued by the Directorate-General of Foreign Trade, the import policy for these specific items has been reclassified from ‘Free’ to ‘Restricted.’ This rule has come into effect immediately and will remain operative until June 30.

The DGFT stated that, under this decision, controls will be exercised over the import of the relevant commodities.

Checking indiscriminate inflows

Prithviraj Kothari, President, India Bullion and Jewellers Association, said the move to place imports of gold and silver jewellery studded with diamonds under the restricted list is aimed at curbing indiscriminate inflows, improving traceability and protecting domestic manufacturers.

It likely comes at a time when authorities are focusing on reducing trade imbalances and preventing misuse of import channels for duty arbitrage, he said.

In the near term, this could tighten supply, increase compliance costs and support local jewellery production, he added.

For the industry, it encourages value addition within India but may disrupt supply chains for exporters dependent on imported finished products, said Kothari.

Published on March 18, 2026

Source link

« Older Entries

Next Entries »

Times Top News

Times Top News