India's 1st private orbital rocket launch on track: Skyroot CEO
NEETA LAL
NEW DELHI -- Pioneering Indian space startup Skyroot Aerospace is on track for India's first private orbital rocket launch later this year, co-founder and CEO Pawan Chandana told Nikkei Asia, as the country emerges as a major player in the space industry.
Tests on mission-critical systems for the Vikram-1 rocket, such as the separation of expended fuel stages and the protective nose cone around the payload, have been successfully completed, Chandana said. The Skyroot team has also completed tests of the fairing separation system.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Diplomat
3 hours ago
- The Diplomat
India Closes Landmark Trade Pact With UK
Indian Prime Minister Narendra Modi with his U.K. counterpart Keir Starmer during Modi's two-day visit to the U.K. on July 23-24, 2025, when the two sides signed a key trade pact. India and the United Kingdom signed a landmark trade pact, the Comprehensive Economic and Trade Agreement (CETA), during Prime Minister Narendra Modi's visit on July 23-24. The pact opens a new chapter in bilateral economic relations against the backdrop of rising geopolitical uncertainty and economic flux stemming from the U.S. announcement of unilateral tariffs. The agreement, which contains almost 30 chapters, has been described as 'forward-looking' and the 'largest' India has negotiated in terms of complexity and depth. It covers trade in goods and services, telecommunications, digital trade, financial and professional services, labor mobility, environment, and social issues like labor rights and development cooperation, as well as support for small and medium enterprises. Hailing the agreement as a 'blueprint for shared prosperity,' Modi said that it would reduce the 'cost of doing business' and enhance 'confidence of doing business' between the two economies, even as it strengthens the global economy. U.K. Prime Minister Keir Starmer described the CETA as 'historic' and pointed out that it would 'boost wages and living standards' in the two countries. 'It will bring down the prices of Indian clothes, shoes, foods for British citizens,' he said. The agreement with the U.K., the world's sixth-largest economy, is particularly significant for India as its pacts with two other major developed economies, the U.S. and the European Union (EU), are still under negotiation. The CETA could therefore serve as the template in these negotiations. In addition, India's deal with the U.K. would help undercut arguments that paint India — the world's fourth largest economy — as isolationist or obstructive when it comes to trade matters. U.S. President Donald Trump has frequently called India a 'tariff king' – a scathing commentary on what he views as India's high tariffs protecting its domestic markets and industries. Days after the CETA was signed, Indian Commerce Secretary Sunil Barthwal pointedly said that India was capable of facing competition and was not a 'tariff king,' with average tariffs for the U.K. set to drop to 3 percent from the current 15 percent. With India's economic profile rising, the Indian government would like to be seen as trade-friendly, welcoming of investors, and an easier place to do business. India's budget 2025-26 contained a slew of measures, including the setting up of a new committee to review regulatory reforms in the non-financial sector with the aim of strengthening trust-based economic governance to improve ease of doing business. Discussions for a pact between India and the EU began in 2007. But they floundered in 2013, and it was only in 2022 that negotiations were resumed. Meanwhile, India began trade discussions with the U.S. during Trump's first term in office (2017-2021). Talks resumed after Trump returned to the White House in January 2025. India's trade with the U.S. in 2024 totaled almost $130 billion; trade with the EU was $155 billion (132 billion euros) during the same period. With the U.K., India's bilateral trade is about $56 billion, with both countries pledging to double this number by 2030. With the deal with the U.K. in the bag, India now has 16 trade agreements in place, including those with Australia and the United Arab Emirates. A closer look at the CETA reveals that India has managed to protect its interests while exhibiting flexibility to accommodate demands from the U.K. An Indian government statement said that the CETA provides for the elimination of almost 99 percent of tariff lines, accounting for almost the entire value of Indian exports to the U.K. It will significantly enhance market access and boost the competitiveness of Indian textiles, marine products, leather, footwear, sports goods, toys, gems and jewelry, besides fast-growing sectors like engineering goods, auto components, and organic chemicals. Most of these sectors are labor-intensive, employing millions of workers. By securing zero duties in these areas, India has ensured its exports remain competitive. For instance, in the case of textiles, the CETA guarantees that Indian exports retain their advantage vis-à-vis those from other textile-exporting nations like Bangladesh or Vietnam. Analysts have pointed out that finding an alternative market for Indian marine products, including shrimps, in the U.K. through the CETA means that India is ringfencing this sector from future economic and political shocks that could come its way from markets like China. Given India's mostly tense ties with Beijing, finding alternative markets is an imperative that the CETA addresses. Dairy products and edible oils have been kept out of the ambit of the pact, while almost all of Indian agricultural products and processed food items will now have zero import duties when entering the U.K. market. This protects India's sensitive farm sector — agriculture and allied activities that contribute to 16 percent of India's GDP and support 46 percent of the population, according to Indian Finance Ministry data. A second key feature of the CETA is that India has agreed to loosen controls that will allow U.K. firms into its previously closely guarded government procurement market. British companies will be free to bid for 40,000 Indian government contracts worth about $40 billion, provided the firms fulfil a 20 percent local content sourcing criterion. This move aligns India with global norms on public procurement. However, certain sectors like defense and agriculture remain outside the ambit of the CETA. India has also committed to greater transparency by agreeing to publish information related to procurement on government portals. Some strategic sectors, like defense, are out of the purview of this, but still, the move is seen as a significant gesture toward the United Kingdom. The CETA does not exempt India from the U.K.'s Carbon Border Adjustment Mechanism (CBAM), which aims to tax carbon-intensive products. This could affect India's exports of iron, steel and fertilizers. India has said it would retaliate should the U.K. impose this measure from early 2027. The pact also provides for increased mobility of Indian professionals by simplifying access requirements and allowing easier movement of contractual service providers, business visitors and independent professionals. A separate Double Contributions Convention that was signed alongside the CETA will eliminate the need for Indians in the U.K. to pay social security contributions in both countries, simultaneously, for a period of three years. This is expected to benefit some 75,000 Indians working in the U.K. Analysts Nisha Taneja and Nirlipta Rath of the New Delhi-based Indian Council for Research on International Economic Research have said that CETA sets 'a progressive benchmark for the country's future trade negotiations.' According to Bidisha Bhattacharya, a senior research consultant at the Chintan Research Foundation, the signing of the CETA is 'not a retreat from protectionism but a recalibration of India's trade strategy.' It involved using strategies like phased liberalization, minimum pricing thresholds, and value addition rules. By doing so, 'India is carefully walking the line between global integration and domestic resilience,' Bhattacharya wrote in a recent article. This was not India embracing multilateralism offered on unfavorable terms but India seeking bilateral agreements with high-income economies that offered reciprocal access, she pointed out. With the World Trade Organization looking increasingly irrelevant and dysfunctional, it's natural for countries to look for bilateral or regional arrangements that secure their access to key global markets. Though it is a late entrant, India seems to be learning to play the game, albeit slowly.
Nikkei Asia
2 days ago
- Nikkei Asia
US tariff deadline, BOJ monetary policy, Nintendo earnings
Welcome to Your Week in Asia. With several countries in Asia having now secured tariff deals with the U.S. -- even as details remain scarce or disputed for many of them -- the pressure is on those that haven't, with U.S. President Donald Trump's latest deadline for negotiations now just days away. The trade dislocations unleashed by Trump will be among the factors weighing on central bankers from the U.S., Singapore and Japan this week as they decide how to act on interest rates. Get the best of our coverage of Asia and much more by following us on X, where our handle is @NikkeiAsia. We are also now on Bluesky, with the handle @ MONDAY Marcos national address Philippine President Ferdinand Marcos Jr. is set to deliver his fourth State of the Nation Address, an annual event typically used to underscore the government's accomplishments and outline policy. Last year, Marcos Jr. notably condemned China's maritime aggression and ordered a ban on offshore gambling. This year, his address takes place against a backdrop of heightened domestic political turbulence and pressing economic concerns. U.S.-China talks The U.S. and China begin their third round of talks in Stockholm amid a possible extension of their trade truce beyond the Aug.12 deadline. Washington plans to raise issues including China's industrial overcapacity, economic imbalances and continued oil purchases from Iran and Russia. China, on the other hand, says it will seek to "enhance consensus, reduce misunderstandings and strengthen cooperation" with the U.S. Earnings: Singapore Airlines TUESDAY IPO: Oxford Innotech Earnings: ANA WEDNESDAY Fed rate decision The U.S. Federal Reserve will conclude its two-day meeting and reach its latest monetary policy decision. Markets do not expect a rate cut in the meeting, but all eyes are on Chair Jerome Powell's news conference. Market watchers will be seeking clues on the next rate cut, as well as any response to Trump's strong criticisms of the Fed chair. Singapore monetary policy statement Singapore's central bank will announce its monetary policy statement, with some economists expecting further easing, given a forecast economic slowdown in the second half of the year driven by ongoing U.S. tariff uncertainties. The city-state predicts its economy will grow between zero and 2% this year. Nissan earnings Nissan Motor will release its April-to-June results. The company is expected to update investors about progress in its business restructuring and how much its bottom line has been affected by the 25% automotive tariffs set by the U.S. Earnings: JAL, Kansai Electric Data: Philippines trade, Sri Lanka inflation THURSDAY BOJ monetary policy The Bank of Japan wraps up its two-day policy meeting. While market participants expect the central bank to hold interest rates steady, the focus will be on what Gov. Kazuo Ueda says in the wake of the upper house election and the Japan-U.S. trade deal. The BOJ will also release its latest inflation and economic outlook. Earnings: Apple, Sumitomo, Grab, Keppel, Siam Cement, SK Innovation, JERA FRIDAY U.S. tariff deadline After a monthslong pause, Trump is set to impose varying tariff rates on dozens of countries, although some have made arrangements with Washington to lower the U.S. duty rate, although details have yet to be revealed. Governments that have not reached a deal with the U.S. will be slapped with a steep, country-specific tariff rate, which will likely increase costs for U.S. households. Nintendo earnings Nintendo releases its April-to-June earnings following the release of its Switch 2 game console in June. Investors are eager to hear an update on Switch 2 sales, as well as how it is contributing to the company's finances. Other earnings: Nippon Steel, Marubeni, Itochu, OCBC, Mitsui & Co, Tata Power
Nikkei Asia
2 days ago
- Nikkei Asia
Top India soccer league season in doubt, leaving sport in chaos
Sports Critics blame high player salaries, lack of vision and planning for dire state India players pose for a team group photo before the match at Jassim Bin Hamad Stadium, Doha, Qatar on June 11, 2024. © Reuters JOHN DUERDEN SEOUL -- Indian soccer is in disarray, after the organizer of the top league announced a pause to the new season due to begin in September. The organizer, Football Sports Development, and India's governing body, All India Football Federation, has yet to reach a deal even though a multimillion 15-year contract is set to expire in December, leaving the 14-team India Super League (ISL) in doubt. According to reports, while FSDL proposed a new deal that split ownership between itself, the clubs and the AIFF, the federation preferred to receive cash.
