The Council of Scientific and Industrial Research (CSIR) and IP Australia have entered into an Agreement on access to CSIR’s Traditional Knowledge Digital Library (CSIR-TKDL) during the 3rd India - Australia Annual Summit held in Melbourne, Australia. The Agreement was concluded in the presence of the Hon'ble Prime Minister of India, Shri Narendra Modi.
Hon'ble Prime Minister of Australia, Mr. Anthony Albanese MP was also present. It is one of the eighteen outcomes of the bilateral discussions held during the Summit, which covered various areas including defence and security, energy security, education, skill development, science and technology, film-making, traditional knowledge, and repatriation of cultural properties.
TKDL is a first-of-its-kind prior art database, developed by India to prevent the misappropriation of its rich traditional knowledge through the erroneous grant of patents. Under the Agreement, IP Australia will gain access to the TKDL database to identify relevant prior art while examining patent applications in line with Australia's patent laws and examination procedures.
The Agreement will facilitate more informed patent examination while helping prevent the grant of patents on knowledge that is already part of India's documented traditional heritage. This signing reflects shared commitment of both countries to safeguarding traditional knowledge and strengthening intellectual property systems through effective use of documented prior art.
TKDL, established in 2001 by the Government through a collaborative initiative of the CSIR and AYUSH ministry, is the world's first database dedicated to the defensive protection of traditional knowledge. It currently contains information on over 5.2 lakh formulations and practices, translated into five international languages- English, German, French, Japanese and Spanish.
Union Minister for Environment, Forest and Climate Change, Shri Bhupender Yadav inaugurated the Centre of Excellence (CoE) on Human–Wildlife Conflict at Coimbatore. It was followed by a National Workshop on Human–Wildlife Conflict, bringing together senior policymakers, forest managers, scientists, researchers, technology experts and conservation practitioners.
As announced by Prime Minister Shri Narendra Modi during the 7th Meeting of the National Board for Wildlife, the newly established CoE will serve as a national hub for research, innovation, policy support, capacity building and dissemination of best practices to strengthen scientific and evidence-based management of human–wildlife conflict, Shri Yadav informed.
The Minister also desired that the institute must focus on a strategy to form a policy to manage conflicts of tigers outside tiger reserves, leopards and elephants with humans. He stated that awareness generation needs to be carried out in mission mode, in urban as well as rural areas on how to deal with human-wildlife encounters.
National Human–Wildlife Conflict Portal, a digital platform designed to facilitate data management, knowledge sharing and decision support for conflict mitigation across the country was also launched.
The first edition of a series of publications titled ‘Current Status of Human–Wildlife Conflict in India: An Overview’ was also released, providing a comprehensive assessment of the current status, trends and emerging challenges related to human–wildlife conflict in India.
In a significant step towards strengthening regulatory oversight and preventing misuse of medicinal products with high alcohol content, the Ministry of Health and Family Welfare has removed the existing exemption (under Schedule K) from licensing requirements for formulations containing ethyl alcohol.
Certain medicinal products, including tinctures of cardamom, ginger and other aromatic preparations, have been exempted from licensing requirements under Schedule K of the Drugs Rules, 1945. Some of these formulations contain high concentrations of ethyl alcohol, in certain cases up to 80–90% v/v, making them susceptible to misuse for intoxication.
To address this concern, the Government has mandated that all formulations containing more than 12% v/v ethyl alcohol, in quantities exceeding 30 mL, shall no longer be covered under the exemption provided to them under Schedule K. Consequently, such products will be required to obtain the requisite licenses under the Drugs and Cosmetics Act, 1940.
The amendment shifts these products to Schedule H1 of the Drugs Rules, 1945, which mandates sale against the prescription of a Registered Medical Practitioner and stricter record-keeping. The amendment is expected to strengthen regulatory oversight over those medicinal products containing alcohol, ensuring their supply only through the regulated pharmaceutical supply chain.
The Department of Financial Services (Banking and Insurance Divisions) has been receiving more than 2.50 lakh grievances annually. It has consistently figured among the top 10 Ministries/Departments in the Grievance Redressal Assessment & Index (GRAI) rankings since November 2025.
For the month of May 2026, the Insurance Division secured the 2nd position in the Group A category (registering more than or equal to 500 grievances) in the GRAI rankings released by the Department of Administrative Reforms and Public Grievances. The Banking Division stood at the 6th position in the same category.
Since 7th January 2024, the Secretary, Department of Financial Services, has been personally reviewing 20 randomly selected grievances, with complainants participating directly alongside the Chairpersons, MDs, CEOs, and senior management of the concerned financial institutions. This initiative aims to improve customer trust and ensure meaningful resolution of grievances.
The BRICS Women Ministerial Meeting concluded in Kochi, India under India's BRICS Chairmanship 2026, marking a significant milestone in advancing cooperation among BRICS Member Countries on women-led development. The four-day engagement from 6th to 9th July 2026 comprised the BRICS Women Working Group Meeting and the BRICS Women Ministerial Meeting.
The landmark outcome of this year's Women Ministerial Meeting was the adoption of the first-ever Joint Statement in the Women Track, reflecting the shared commitment of BRICS Member Countries to strengthen cooperation in promoting women-led development in all spheres.
India has expanded its civilisational diplomacy footprint in Central Asia with the inauguration of the International Centre for Civilizational Studies “Manas and Mahabharata" in Kyrgyzstan, bringing together governments, academia and cultural institutions to strengthen historical and strategic ties.
The initiative also saw the unveiling of the first-ever Hindi translation of the Kyrgyz national epic Manas, marking a new chapter in India-Kyrgyz cultural engagement.
The centre, established by Kyrgyzstan’s Manas National Academy in collaboration with New Delhi-based Centre for Studies of International Relations (CSIR),
aims to institutionalise research on the shared civilisational traditions of India and Kyrgyzstan, with a particular focus on the Mahabharata and the Kyrgyz national epic Manas.
In a significant step towards deepening India’s civilisational outreach in Central Asia, an Indian delegation led by RSS national executive member and Akhil Bharatiya Prachar Pramukh (national spokesperson) Sunil Ambekar inaugurated the International Centre for Civilizational Studies “Manas and Mahabharata" in Bishkek during a four-day visit to Kyrgyzstan from July 4 to 7.
India will remain among the world’s fastest-growing major economies, with its GDP projected to expand by 6.4 per cent in FY2026-27, supported by strong private consumption and robust services sector activity, according to the International Monetary Fund’s (IMF) July 2026 World Economic Outlook (WEO) Update.
Globally, economic growth is projected to slow to 3.0 per cent in 2026 before recovering to 3.4 per cent in 2027. World trade volume growth is also expected to decelerate sharply from 5.0 per cent in 2025 to 3.5 per cent in 2026, before improving to 4.3 per cent in 2027.
Growth across emerging markets and developing economies is projected to ease to 3.8 per cent in 2026 before recovering to 4.5 per cent in 2027.
Among Asian economies, China’s growth is projected to slow to 4.6 per cent in 2026 due to higher oil prices and persistent structural headwinds. Vietnam’s growth forecast has been revised upward to 7.5 per cent,
while Malaysia is expected to expand by 4.7 per cent, supported by the global technology cycle.
In the United States, economic growth is projected at 2.3 per cent in 2026 and 2.2 per cent in 2027, broadly unchanged from the IMF’s April forecast.
The Asian Development Bank (ADB) has lowered India's GDP growth projection for FY27 by 30 basis points to 6.6 per cent. It has maintained its FY28 growth forecast for India at 7.3 per cent, citing concerns over higher energy prices amid tensions in West Asia.
The Indian government has implemented several policy measures since March to insulate the domestic economy from external headwinds.
The Indian economy grew 7.7 per cent in FY26, according to the Ministry of Statistics and Programme Implementation.
Despite the reduction in the estimate by ADB, India's GDP is poised to grow at the fastest pace in FY27 and FY28 compared with other Asian economies.
ADB expects global conditions to improve going ahead and has left its projection for FY28 unchanged.
The legendary Leander Paes has been appointed Player Ambassador of the Asian Tennis Federation (ATF), as the continental body seeks to inspire the next generation of players and accelerate the growth of the sport across the region.
The announcement was made on the sidelines of the Wimbledon Championships in the presence of ATF president Yuryi Polskiy, senior officials.
One of the most decorated players in the history of the sport, Paes enjoyed a professional career spanning more than three decades.
An Olympic bronze medallist at the 1996 Atlanta Games, he won 18 Grand Slam titles -- eight in men's doubles and 10 in mixed doubles -- while also completing a career Grand Slam in both disciplines.
A former world No. 1 in doubles and winner of the Davis Cup Commitment Award, Paes has been one of Asia's greatest ambassadors for tennis and one of India's most celebrated sporting icons.
Paes, who was inducted into the 'International Tennis Hall of Fame' in the player category in 2024.
Aviva is on course to becoming the first foreign insurer to hold 100% stake in an insurance joint venture in India with the British insurer announcing plans to acquire the remaining 26% stake in Aviva Life Insurance Company India from its joint venture partner.
It has signed an agreement to purchase the 26% in Aviva India from its local joint venture partner Dabur Invest Corp. This will take Aviva’s ownership of Aviva India to 100% and will give Aviva full control over the strategic direction of the business, the insurer said.
Aviva’s announcement comes in the backdrop of India notifying earlier this year the government’s decision to permit 100% foreign direct investment (FDI) in insurance from the earlier limit of 74%.
The life insurance joint venture, between DIC and Aviva, was formed in 2001.
Defence Research & Development Organisation (DRDO) conducted a successful flight-test of Pinaka Long Range Guided Rocket (LRGR) at the Integrated Test Range (ITR), Chandipur on July 08, 2026. The rocket was tested for a user defined minimum range of 60 kms.
Demonstrating all in-flight manoeuvres as planned, the LRGR impacted on the target with textbook precision exactly following the predicted trajectory. All the deployed range instruments tracked the flight throughout its trajectory.
The Pinaka LRGR rocket is designed by Armament Research and Development Establishment in association with High Energy Materials Research Laboratory, with support from Defence Research and Development Laboratory and Research Centre Imarat. The flight-trial was coordinated by ITR and Proof & Experimental Establishment.
The rocket was launched from the in-service Pinaka launcher demonstrating its versatility and providing launch capability of Pinaka variants of different ranges from the same launcher.
Defence Secretary and Secretary, Department of Defence R&D and Chairman, DRDO- Rajesh Kumar Singh.
The Indian Space Research Organisation (ISRO) successfully conducted a critical test on the main parachutes for the Gaganyaan's crew module.
The test was carried out at the Aerial Delivery Research and Development Establishment (ADRDE) drop zone in Sheopur, Madhya Pradesh.
The objective of this test was to qualify the main parachute for its structural integrity and design margins under the maximum expected load conditions in the first uncrewed Gaganyaan G1 mission," ISRO said.
During the test, a simulated assembly of a single main parachute and a dummy mass was dropped from an altitude of 2.5 km using an Indian Air Force IL-76 aircraft.
This is the 5th test in a series of integrated main parachute airdrop tests (IMAT) to qualify the critical main parachute for the Gaganyaan Mission. The successful completion of IMAT-05 provides necessary confidence in the performance and reliability of the Main Parachute System for the first Uncrewed Gaganyaan Mission (G1)," said ISRO.
Aswath S. needed to win his last three games to achieve the Grandmaster title, and he did so by winning it on demand at the Pune International Round-Robin chess tournament.
With an awesome finish in Pune, the 17-year-old Aswath became India’s 98th GM after beating Kannan Vaidyanathan with black pieces in the final round.
The tournament was Aswath’s return to classical chess after a break for his Std. X exams. His previous classical event was in December 2025, when he earned his second GM norm at the First Saturday GM Round-Robin in Budapest, winning the event with 7/9.
The first GM norm came earlier in 2025 at the Grenke Open in Germany.
Charles Leclerc gave Ferrari their 250th Grand Prix victory when he won a gripping British GP at Silverstone,which ended with safety car as championship leader Kimi Antonelli missed out on a top 10 finish.
Antonelli’s Mercedes teammate and championship rival George Russell came through to take second place,while Lewis Hamilton in the other Ferrari crossed the line in third.
It was Leclerc’s ninth Grand Prix victory – and first since he won the United States GP in Austin in October 2024 – putting him fourth in the championship with 108 points.
Telangana will host the 2026 edition of Khelo India Youth Games, Sports Minister Mansukh Mandaviya announced.
"The state has the infrastructure and the enthusiasm to host these Games where at least 8000 athletes, officials and support staff are expected to participate," said Mandaviya.
The Bihar edition saw athletes taking part in 28 sports. Twenty-six records were created in KIYG 2025, of which 13 were national youth records, all in weightlifting. The rest were meet records and all in athletics.
Europe dominated the world's strongest passports in 2026, occupying nine of the top 10 positions in the Global Passport Index, while India slipped to 125th place and Ireland maintained its lead over the UK for a second straight year, highlighting the enduring impact of Brexit on travel freedom.
According to the sixth annual Global Passport Index released by Global Citizen Solutions (GCS), Sweden topped the global rankings, followed by Switzerland and Finland. Singapore, at 10th, was the only non-European country in the top 10.
The Society for Worldwide Interbank Financial Telecommunication (Swift), whose messaging system is used by banks for millions of transactions a day, said a blockchain-based network designed to facilitate round-the-clock money transfers across borders is ready for initial use.
The Society for Worldwide Interbank Financial Telecommunication said that 17 banks from around the world are preparing to pilot live transactions using tokenised deposits on its new system. Tokenised deposits are digital representations of customers’ account balances that can be transferred over blockchain rails.
Swift’s ledger allows banks to move funds for customers outside traditional business hours, including at nights and on weekends, before completing the final settlement through existing systems, according to a statement.Banks taking part in initial trials include HSBC Holdings Plc, Citigroup Inc., Bank of New York Mellon Corp., Standard Chartered Plc and UBS Group AG, Swift.
Standard Chartered Bank said it has become the first bank in India to process a cross-border remittance under Swift's new retail payments scheme, completing the transaction from Australia to India in 37 seconds.
The bank said it enabled near real-time credit to the beneficiary bank in India, demonstrating its ability to complete end-to-end payments with participating banks in the country using Swift rails.
The transaction originated from Australia's Westpac and was routed through Standard Chartered using Swift's network.
According to Standard Chartered, the new retail payments scheme offers end-to-end payment tracking, upfront certainty on costs with no hidden charges, and ensures that the amount sent is credited to the beneficiary's bank account without any foreign exchange deductions.
India's securitisation market began FY27 on a strong note, with volumes rising about 20 per cent year-on-year to around Rs 61,000 crore in the April-June quarter, driven almost entirely by non-banking financial companies (NBFCs), according to rating agency ICRA.
The growth extends the trend seen in the previous financial year, when banks sharply reduced their securitisation activity while non-banking entities continued to increase issuances. NBFCs accounted for nearly the entire market during the quarter, with overall volumes originating from the segment growing 27 per cent over the corresponding period of FY26.
