LEH, 15 October For most of the year, Ladakh depended on two roads to connect from rest of India, the Srinagar–Leh and Manali–Leh highways. On 15 October it will get a third when Prime Minister Narendra Modi dedicates to the nation the 298-km Nimmu–Padum–Darcha Road.
This is one of five projects worth about ₹3,350 crore, according to a PMO release.
At a glance
Total package: about ₹3,350 crore, five projects
Leh airport terminal: ₹640 crore, 23,800 sq m, 35 lakh passengers a year
Nimmu–Padum–Darcha Road: 298 km, built by BRO
Hanu hydro project: 9 MW, with 66 kV Dah–Hanu–Khaltsi line
Project Him Sarovar: 40 water bodies in 40 villages
What India gains
A third road into Ladakh, more air capacity and water stored for the sowing season.
Government clears Rs 52,878 crore IDBI Bank stake sale
NEW DELHI, 15 October The Cabinet Committee on Economic Affairs has approved 10955230 Canada Inc as the strategic buyer of 60.72% of IDBI Bank Ltd for ₹52,878.08 crore. The Government sells 30.48% and the Life Insurance Corporation of India 30.24%.
What India gains
A large foreign investment in an Indian bank, and capital for the bank that no longer has to come from the taxpayer.
At a glance
Stake sold: 60.72% (Government 30.48%, LIC 30.24%)
Price: ₹52,878.08 crore
Benchmark: ₹75.99 a share, average of two independent valuations
Left after the sale: Government 15%, LIC 19%
What India gains
Private capital for a large Indian lender, and money back for the exchequer and LIC policyholders.
IMF sees India growing 7pc in both 2026, 2027
BANGKOK, 15 October — The International Monetary Fund expects India to grow by 7% in 2026 and 2027, its chief economist Silvana Tenreyro said. He was speaking at the launch of the World Economic Outlook in Bangkok on 13 October. “China and India, they are the big engines of growth here,” she told reporters, according to the IMF’s transcript of the briefing.
At a glance
India, IMF projection: 7% in 2026, 7% in 2027
World: 3.1% in 2026, 3.4% in 2027
China: 4.5% in 2026, 4% in 2027
Global inflation: 4.7% in 2026
What India gains
An outside endorsement of India’s growth, at the world’s main economic meeting of the year.
India wins distant-water fishing rights in Indian Ocean
NEW DELHI, 15 October — Indian fishing vessels will be able to fish for squid, toothfish, alfonsino and other non-migratory stocks in the southern Indian Ocean. This came in effect after the Central Government approved India’s accession to the Southern Indian Ocean Fisheries Agreement
What India gains
A legal fishing rights in distant waters, a vote on how those stocks are managed, and a place in the patrols that keep illegal fishing out of the Indian Ocean.
Indian Navy hands over command of Maritime Task Force
MANAMA, 15 — The Indian Navy relinquished command of Combined Task Force 154 at a ceremony in Manama, Bahrain, on 14 October.
This marks the the first time an Indian Navy contingent has led a task force of the Combined Maritime Forces. Commodore Milind M Mokashi handed over to Commander Melissa Desjardins, the task force’s deputy commander.
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What India gains
:
A proof that its naval schools and simulators can train a 47-nation coalition, and a record of leadership in the waters through which much of its oil and trade passes.
India, Canada push for trade pact ahead of Modi-Carney Summit
NEW DELHI, 15 October Canada’s Foreign Minister Anita Anand called on Prime Minister Narendra Modi in New Delhi on 14 October. PM Modi stressed turning momentum in the relationship into “tangible outcomes”, including early conclusion of a Comprehensive Economic Partnership Agreement.
What India gains
:
A December summit with a date, one day after the two Prime Ministers spoke by telephone on 13 October 2026,, with the trade agreement at the top of the agenda.
India, Brunei target pharma, healthcare & energy cooperation
NEW DELHI, 15 October — India and Brunei Darussalam held the third meeting of their Joint Trade Committee. It was co-chaired by Joint Secretary Amit Verma of the Department of Commerce and Permanent Secretary Dr May Fa’ezah Ahmad Ariffin of Brunei’s Ministry of Economy, Trade and Industry. They named pharmaceuticals, healthcare and energy for closer work, and discussed Indian agricultural and animal-product exports to Brunei. The next meeting is in Brunei.
India showcases steel-slag pothole fix to Global South
NEW DELHI, 15 October — Thirty-three ambassadors and embassy officials from 29 countries visited the CSIR-Central Road Research Institute and the CSIR-Institute of Genomics and Integrative Biology on October 14. At CRRI they watched Ecofix, a pothole-repair mix made from steel slag, laid live. The programme is aimed at countries of the Global South.
New audit rules tighten oversight of multi-state co-operatives
NEW DELHI, 15 October — The Ministry of Cooperation has mandated the Multi-State Co-operative Societies (Auditor’s Report) Order, 2026. This is a standard format in which statutory auditors must report on the finances and governance of multi-State co-operative societies. The Order was drawn up with inputs from the Reserve Bank of India, the Institute of Chartered Accountants of India and the Comptroller and Auditor General of India.
What India gains
An earlier warning of stress in co-operatives that hold the deposits of farmers, workers and small savers.
