ModiWatch: Prime Minister Narendra Modi announced that air taxis will soon become a reality in India. Speaking at the Asia Pacific Ministerial Conference on Civil Aviation, hosted in collaboration with the International Civil Aviation Organization, he highlighted that the day is near when air taxi travel will be commonplace.

VL-SRSAM test success strengthens India's defence: The Defence Research & Development Organisation (DRDO) and the Indian Navy successfully tested the Vertical Launch Short Range Surface-to-Air Missile (VL-SRSAM) at the Integrated Test Range in Odisha. The test validated key updates, including the Proximity Fuse and Seeker. Defence Minister Rajnath Singh commended the teams, emphasising the reliability and effectiveness of the missile system.

New rules simplify foreign exchange compounding process: In line with the Union Budget 2024-25, the Ministry of Finance has introduced the Foreign Exchange (Compounding Proceedings) Rules, 2024, replacing the previous 2000 rules. The updated regulations aim to simplify foreign investments by streamlining the compounding process, enabling faster application processing, and offering digital payment options. This revision aligns with the government’s broader effort to enhance ease of doing business and eliminate regulatory ambiguity.

Global bio India 2024: Union Minister Dr. Jitendra Singh, at the Global Bio India 2024 inaugural, highlighted India’s role in global biotech. With 60% of the world’s vaccine production and the second-highest number of USFDA-approved manufacturing plants outside the US, India offers vast investment opportunities across Bio-Pharma, Bio-Agri, Bio-Industrial, Bio-energy, Bio-Services, and Med-Tech sectors.

IAF chief calls for production boost to meet LCA demand: As the Indian Air Force (IAF) prepares for the delivery of indigenous Light Combat Aircraft (LCA)-Mk1A and eyes export opportunities, IAF Chief Air Chief Marshal VR Chaudhari emphasised the need to align production capacity with demand. Speaking at the conclusion of the Tarang Shakti air exercise in Jodhpur, he highlighted that current orders for 83 LCA-Mk1As, followed by 97 more, will take time to fulfil. He called for increased public-private partnerships and joint ventures to expand production lines, with Hindustan Aeronautics Limited (HAL) leading the effort.

India and China pledge to ease border tensions in high-level talks: National Security Adviser Ajit Doval of India and Foreign Minister Wang Yi of China met in St. Petersburg on Thursday to address the ongoing border standoff in eastern Ladakh. The officials agreed to intensify efforts towards complete disengagement in remaining friction points along the Line of Actual Control (LAC). Doval emphasised that respecting the LAC and maintaining peace in border areas are crucial for normalising bilateral relations. Both sides acknowledged the significance of their relationship for regional and global stability. 

Delhi Today: Plenty of morning clouds, then intervals of clouds and sunshine in the afternoon with a thunderstorm in spots.

Rajya Sabha: Not in session.

Lok Sabha: Not in session.