SEPTEMBER 20268TOP STORIESIndia is increasingly pursuing to link digital payment system in its free trade agreements. Commerce Secretary Rajesh Agrawal has stated that payment-system alignment is being discussed as part of India's FTA negotiations, particularly with countries which have a large Indian diaspora. The government is also looking to expand India's fintech capabilities across Asia, Africa and Latin America, where informal economy and cash dependency remain significant.India's objective to include payment-system interoperability could therefore have implications far beyond faster digital transactions. Electric two-wheeler maker Ultraviolette is expanding its manufacturing footprint with a new facility in Hosur, Tamil Nadu, as the company prepares for the next phase of growth in India and overseas markets.The company plans to invest Rs 779 crore over the next five years in its new BIGGA (Big Global Ambition) Factory. The facility will initially scale up to an annual production capacity of 2.5 lakh vehicles, while its infrastructure will be designed to eventually support 5 lakh vehicles annually. The expansion will complement Ultraviolette's existing Bengaluru plant and strengthen its ability to manufacture products across multiple electric two-wheeler segments. Larsen & Toubro scores a major offshore engineering win from ONGC that strengthens India's west coast energy push.This latest order positions L&T's energy hydrocarbon offshore unit at the heart of fresh development work off the western shoreline.The company lands a large contract valued between Rs 2,500 crore and Rs 5,000 crore for the Additional Development of Ratna-I and NLM-14 projects. The deal covers full engineering, procurement, construction, installation and commissioning of new platforms and pipelines.It signals ONGC's steady push to lift output from mature fields while L&T expands its decades-long expertise in complex offshore execution. India's freight rail network now stands closer than ever to closing the long-standing cost gap with China.Maharashtra Chief Minister Devendra Fadnavis declared that the newly completed Western Dedicated Freight Corridor will push the country's logistics cost down to around 7 percent, the same level China currently maintains.Prime Minister Narendra Modi inaugurated the final sections of the 1,600-km corridor on Tuesday, linking Dadri in Uttar Pradesh with Jawaharlal Nehru Port near Mumbai. Adani Group plans a $2.5 billion refinancing deal that could become India's largest offshore loan of 2026, as the conglomerate looks to restructure debt linked to its acquisition of Ambuja Cements and ACC.The proposed financing will be split across offshore and domestic lending markets, allowing the group to access different pools of liquidity while managing borrowing costs amid changing global credit conditions.Endeavor Trade and Investment Ltd., a Mauritius-based special purpose vehicle owned by the Adani family, plans to raise $1.5 billion through an 18-to-24-month bridge loan, according to people familiar with the matter. WHAT IS BEHIND ULTRAVIOLETTE'S RS 779 CRORE MANUFACTURING EXPANSIONDECODING L&T'S LATEST OFFSHORE ENGINEERING WIN FROM ONGCCAN INDIA'S FREIGHT RAIL NETWORK CLOSE THE CHINA COST GAP?INDIA'S FTA PUSH: CREATING A GLOBAL DIGITAL PAYMENT PATHWAY SYSTEMADANI GROUP PLANS $2.5 BILLION REFINANCING TO RESTRUCTURE CEMENT DEBT
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