OCTOBER 20268TOP STORIESSigma Advanced Systems Limited has signed an exclusive memorandum of understanding (MoU) with Munitions India Limited (MIL). The partnership aims to manufacture Indigenous Artillery Fuzes for 155 mm artillery ammunition in India.Announced on Wednesday, October 14, the agreement covers the integration, domestic manufacturing, and supply of course-correction fuzes. It also includes related components, subsystems, and technologies. The collaboration aims to strengthen India's precision-guided artillery capabilities and support critical programs of the Indian military. India's steel demand in 2026 is expected to grow by 7­9 percent, reinforcing the country's position as a key growth market for the global steel industry. However, rising imports are creating a parallel challenge for domestic manufacturers, as overseas supplies compete with locally produced steel despite sustained consumption growth.The World Steel Association's forecast highlights India's relatively strong demand outlook, supported by infrastructure development, construction and industrial activity. Meanwhile, data from the Ministry of Steel indicate that finished steel imports increased 29.5 percent year on year during April­August 2026. RPSG Group drives a clear power shift in its FMCG business as Harshad Jain takes over as chief executive officer. This appointment injects cross-sector leadership into the conglomerate's consumer vertical and signals a deliberate move to professionalize operations. Jain arrives with more than 35 years of diverse experience that spans consumer goods, telecom, media, aviation and advisory roles. His unusual career path from PepsiCo India through telecom and media into airport non-aero commercial leadership and board advisory positions now leads him into a pure FMCG CEO role. The group positions him at RPSG House, where he reports directly to the vice-chairman. This talent injection stands out because RPSG chooses to import proven operators from aviation, media and telecom rather than draw only from traditional FMCG peers. Malaysia Airlines is seeing a sharp rise in corporate travel demand from India, with bookings increasing by 40 percent year-on-year. The airline is open to new partnerships to tap this growing market. However, bilateral traffic rights continue to limit its plans to expand flights between India and Malaysia.The Southeast Asian carrier also reported a 24 percent increase in visiting friends and relatives (VFR) India's free trade deals could give its economy a major boost, even as US tariffs reshape global trade. A World Trade Organization (WTO) model suggests these agreements could add around USD 140 billion to India's GDP by 2035.The estimate reflects India's expanding trade network, which includes agreements with Australia, the United Arab Emirates, the United Kingdom, Oman and the European Free Trade Association. A deal with New Zealand has also been signed, while negotiations with the European Union have concluded. These agreements could open new markets, reduce import costs and attract foreign investment. India's food regulator is tightening food safety rules for quick-commerce platforms such as Blinkit, Swiggy Instamart, and Amazon Now. The move comes as the Food Safety and Standards Authority of India (FSSAI) expands its crackdown on unsafe practices across the country.FSSAI CEO Rajit Punhani said e-commerce is the regulator's next major focus. The authority plans to make online platforms more accountable for the food products they list and sell. The proposed measures could affect India's USD 80 billion online retail industry, where groceries account for up to 51 percent of sales, according to Redseer Strategy Consultants. SIGMA & MUNITIONS INDIA PARTNER TO BUILD INDIGENOUS ARTILLERY FUZESFSSAI TIGHTENS FOOD SAFETY RULES: QUICK COMMERCE FACES MORE SCRUTINYINDIA'S STEEL DEMAND IN 2026: IMPORTS RISE BY 29.5 PERCENTPOWER SHIFT IN RPSG FMCG AS HARSHAD JAIN TAKES OVERMALAYSIA AIRLINES SEES 40 PERCENT CORPORATE TRAVEL GROWTH IN INDIACAN INDIA'S FREE TRADE DEALS ADD USD 140 BILLION TO ITS GDP BY 2035?
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