9OCTOBER 2026Defense manufacturing in India is expanding across specialized technology segments, with the Ministry of Defense signing contracts worth Rs 4,106 crore for an Indian Air Force communication satellite and heavyweight torpedoes for the Indian Navy. The agreements involve Bengaluru-based NewSpace India Limited (NSIL) and Hyderabad-based Bharat Dynamics Limited (BDL).While the Rs 2,563 crore GSAT-7C contract targets secure, dedicated military communications, the Rs 1,543 crore Varunastra procurement supports the Navy's anti-submarine warfare capabilities. Together, the agreements highlight how domestic public-sector enterprises are contributing to different parts of India's defense technology ecosystem, from space-based infrastructure to specialized naval weapons. Varroc Engineering Limited is expanding its electric mobility business through a proposed joint venture with France-based Forsee Power SA. The partnership will focus on EV batteries and battery-pack solutions for India's growing electric vehicle market.Under the proposed deal, Varroc will acquire a 45 percent equity stake in Forsee Power India, Forsee Power's Indian subsidiary specializing in battery-pack systems. Varroc will also take management and operational control of the entity. The transaction remains subject to applicable regulatory and corporate approvals.The partnership will initially target battery packs for three-wheelers before expanding into other vehicle categories. The companies plan to combine Varroc's automotive engineering and manufacturing capabilities with Forsee Power's battery technology expertise. The India-New Zealand FTA takes effect on October 21, 2026, changing trade rules between the two countries. The agreement gives Indian exporters duty-free access to New Zealand's market and introduces tariff concessions on selected New Zealand imports into India.The deal also opens new temporary work visa pathways for eligible Indian professionals. However, India's tariff concessions will vary by product, with some reductions starting immediately and others being phased in over time. Indian goods will receive duty-free access across all tariff lines in New Zealand. The agreement also introduces preferential tariff treatment for selected New Zealand products entering India. Solar wafer manufacturing in India is gaining importance as the country seeks to strengthen domestic production and reduce reliance on imported solar components. Tata Power Renewable Energy Limited (TPREL) plans to continue its Rs 28,000 crore investment program through FY2028. Although the broader investment plan centers around renewable energy expansion, its manufacturing implications matter the most as India tries to build capabilities further up the supply chain.DEFENSE MANUFACTURING: INSIDE NSIL AND BDL RS 4,106 CR DEALSVARROC BETS ON EV BATTERIES WITH 45% STAKE IN FORSEE POWER INDIAINDIA-NEW ZEALAND FTA: WHAT CHANGES FROM OCTOBER 21?TATA POWER RS 28,000 CR INVESTMENT: INDIA'S SOLAR WAFER PUSHULTRATECH CEMENT INVESTS RS 2,650 CRORE IN NEW ANDHRA PLANTUltraTech Cement has expanded its manufacturing capacity in Andhra Pradesh with a Rs 2,650 crore investment in a new integrated cement plant. The facility, Petnikota Cement Works, is located in Nandyal district and is designed to operate entirely on green energy. The new plant has a clinker production capacity of 3.3 million tonnes per annum (MTPA) and a cement dispatch capacity of 3.6 MTPA. According to the company's press release, the facility is expected to create 650 direct jobs and 2,000 indirect employment opportunities.Construction began in May 2025, and the plant was commissioned within 14 months of its groundbreaking ceremony. Andhra Pradesh IT Minister Nara Lokesh highlighted the project's quick completion, calling it an example of the state's efforts to improve the ease of doing business. of industrial equipment reliability, site safety and coordinated engineering work in facilities that combine municipal waste management with electricity production.Antony Lara Renewable Energy, a subsidiary of Antony Waste Handling Cell, operates the facility for the Pimpri-Chinchwad Municipal Corporation (PCMC). On July 8, 2026, heavy monsoon rainfall caused waste from an adjacent legacy landfill to collapse onto the plant site, severely damaging structures. The incident resulted in nine fatalities, according to the company.
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