Daily News - Thursday, 23 April 2026
Germany Confirms USD $8B Submarine Deal with India Soon (Reuters)
German Defence Minister Boris Pistorius announced in Berlin that Germany expects to sign a final agreement with India within the next three months for a planned USD $8 billion (INR ₹66,400 crore) submarine cooperation. Pistorius made the statement after receiving India’s Defence Minister Rajnath Singh with military honors, underscoring the strategic depth of bilateral defence ties. The deal, in preparation for months, is spearheaded by German warship maker Thyssenkrupp Marine Systems and India’s Mazagon Dock Shipbuilders under the oversight of the Ministry of Defence. The cooperation is expected to strengthen India’s naval capabilities in the Indo-Pacific, where maritime security challenges have intensified due to the West Asia crisis and Chinese assertiveness. Germany’s commitment reflects its broader push to expand defence exports and deepen partnerships with democratic allies in Asia. Analysts note that the agreement will also boost India’s domestic shipbuilding industry, aligning with the Make in India initiative and long‑term naval modernization plans.
India Surpasses US, Germany as Largest Wind Market Outside China (Economic Times)
India commissioned a record 6.3 GigaWatt of wind capacity in 2025, an 85% year-on-year increase, surpassing the US and Germany to become the largest wind market outside China, according to BloombergNEF. Multi-technology clean power auctions, requiring integration of solar, wind, and energy storage, were key drivers, alongside spillover projects delayed in 2024 due to grid constraints. Domestic manufacturers gained global prominence, with Adani Wind entering the global turbine leaderboard after deploying 1 GW at its Khavda renewable park, while Suzlon and Inox Wind also expanded installations. In contrast, European and US turbine makers installed only 1.3 GW, compared with 2.5 GW by Chinese suppliers, highlighting a shift in market share towards Asian firms. BloombergNEF projects India will add around 30 GW of new wind capacity by 2030, with installations dipping slightly to just over 5 GW in 2026 before rebounding as transmission capacity improves. This growth aligns with India’s broader net‑zero commitments, supported by the Ministry of Power and renewable energy policies.
Indian Government Plans Special Vessels to West Asia to Reduce Freight Costs by 50% (Times of India)
Commerce Department announced plans to deploy special vessels to West Asia in coordination with the Shipping Corporation of India (SCI), aiming to cut freight costs for exporters. Current freight rates stand at USD $3,000-3,500 (INR ₹2.5-2.9 lakh) per 20-foot container and USD $4,500-6,000 (INR ₹3.7-5 lakh) for refrigerated units, but the government is targeting nearly 50% lower rates to make shipments viable. With the Strait of Hormuz inaccessible, vessels will dock at alternative ports, from where goods will move by road. The Directorate General of Foreign Trade (DGFT) has held consultations, while APEDA (Agricultural and Processed Food Products Export Development Authority) will lead cargo aggregation, focusing on perishables like onions, bananas, rice, and tea. SCI is considering deploying 4,000 TEU merchant vessels or chartering smaller 1,000 TEU ships, while Concor will ensure container availability and inland cargo movement. The initiative replaces earlier freight subsidy discussions, offering a WTO‑compliant solution, with Gulf countries also exploring partial freight support for food items.
