Daily News - Friday, 13 February 2026
India approves USD $43 Billion defence upgrade, including 114 Rafale jets. French President Emmanuel Macron’s upcoming India visit to spotlight defence partnership (livemint)
The Defence Acquisition Council (DAC) under the Ministry of Defence approved a ₹3.6 lakh crore (USD $43.2 billion) plan to modernize India’s armed forces. The package includes procurement of 114 Rafale fighter jets for the Indian Air Force (IAF) and Boeing P‑8I reconnaissance aircraft for the Indian Navy, alongside anti‑tank missiles for the Army. The Multi‑Role Fighter Aircraft (MRFA) program is expected to significantly enhance the IAF’s deterrence capabilities, providing long‑range strike power and control across multiple conflict scenarios. According to Ashish Saraf, Vice President and Country Head of Pratt & Whitney India, if the Rafale order is finalized, India will become the largest global operator of Rafale jets with over 175 aircraft, including the 36 already in service and 26 Rafale‑N jets previously procured. Analysts project a major boost to India’s maintenance, repair, and overhaul (MRO) ecosystem, with opportunities linked to servicing more than 250 fighter jets, including spares and consumables. The approvals come ahead of French President Emmanuel Macron’s visit to India next week, underscoring the strategic depth of the India–France defence partnership.
India Switches To A New Inflation Base CPI with base year 2024 which adopts UN’s COICOP 2018 classification for global comparability (News18)
India has introduced a new Consumer Price Index (CPI) series with 2024 as the base year, replacing the earlier 2012‑based index, according to the Ministry of Statistics and Programme Implementation (MoSPI). The first reading under this framework showed retail inflation at 2.75% in January 2026, an eight‑month high but still within the Reserve Bank of India’s tolerance band. The CPI basket has expanded from 299 items to 358, with 308 goods and 50 services, now including OTT subscriptions, CNG/PNG fuels, rural house rent, and e‑commerce prices. Data collection has been modernized to incorporate digital and administrative sources such as online airfares, rail fares, telecom charges, and postal services. The new CPI adopts COICOP 2018 (Classification of Individual Consumption According to Purpose), aligning India with global statistical standards, and reorganizing items into 12 divisions, 43 groups, 92 classes, 162 subclasses, and 358 items. Importantly, the weight of food and beverages has declined, while housing, transport, health, and communication have gained prominence, reflecting India’s evolving consumption patterns.
Commerce Minister Piyush Goyal said India secured zero‑duty access to US textile market under interim trade deal (Financial Express)
Commerce and Industry Minister Piyush Goyal announced that India will gain zero‑duty access to the US textile market under the upcoming India–US interim trade deal. He explained that India will receive the same benefits as Bangladesh, provided raw materials such as cotton and yarn are sourced from the US, under yarn forward and cotton forward rules of origin. India currently produces 300–350 lakh bales of cotton annually, importing only 20-30 lakh bales of specialized varieties worth USD $1.2 billion (INR ~10,000 crore), compared to Bangladesh’s USD $2.5 billion cotton imports. The minister emphasized that 90-95% of Indian agricultural products including dairy, cereals, poultry, pulses, and millets are excluded from the deal, ensuring no harm to farmers. India is targeting USD $50 billion (INR ~4.1 lakh crore) in textile and clothing exports, while US cotton exports stand at USD $5 billion (INR ~41,000 crore). Industry experts noted that the US, once heavily reliant on China for cotton, is now seeking India and Bangladesh as trusted partners, with Indian spinners already importing US cotton at zero duty under advance licensing schemes.
India’s retail inflation steady at 2.75% in January under new CPI framework (Business Today)
India’s retail inflation stood at 2.75% in January 2026, the first reading under the new Consumer Price Index (CPI) series (base year 2024=100), according to the Ministry of Statistics & Programme Implementation. Rural inflation was 2.73%, while urban inflation was slightly higher at 2.77%, with the All‑India CPI (General) index rising to 104.46 from 104.10 in December. The revised CPI basket now covers 358 items (up from 299 earlier), including 308 goods and 50 services, reflecting consumption changes from the Household Consumption Expenditure Survey (HCES) 2023–24. Food inflation measured by the Consumer Food Price Index (CFPI) was 2.13%, with rural at 1.96% and urban at 2.44%, while housing inflation came in at 2.05%. The share of Food & Beverages in the CPI has dropped to 36.75% from 42.62% in the 2012 series, with non‑food categories now accounting for over 60%, including housing, transport, health, and services. State‑level data showed Telangana recording the highest inflation at 4.92%, followed by Kerala (3.67%) and Tamil Nadu (3.36%), while items like silver jewellery (+159.67%) and tomatoes (+64.80%) saw sharp price spikes, contrasted by declines in garlic (‑53.05%), onion (‑29.27%), and potato (‑28.98%).
