📊 Index & Rankings
The Stockholm International Peace Research Institute (SIPRI) has released its fact sheet titled “The SIPRI Top 100 Arms-Producing and Military Services Companies, 2024.”
Three Indian PSUs under the Ministry of Defence feature in the global Top 100 arms-producing companies list.
| Company | Global Rank | Revenue (USD) |
|---|---|---|
| Hindustan Aeronautics Limited (HAL) | 44 | $4,010 million |
| Bharat Electronics Limited (BEL) | 58 | $2,750 million |
| Mazagon Dock Shipbuilders Ltd. (MDL) | 91 | $1,370 million |
Global Top 3 Rankings:
- Lockheed Martin (USA) – Rank 1 with USD 71,040 million revenue
- RTX (USA) – Rank 2 with USD 80,740 million revenue
- Northrop Grumman (USA) – Rank 3 with USD 41,030 million revenue
The combined arms revenue of the SIPRI Top 100 touched USD 679 billion, marking a 5.9% increase from 2023. A total of 77 companies reported revenue growth, with 42 achieving double-digit gains.
Other companies in the Top 10 include: Boeing (6th, USA), Rostec (7th, Russia), AVIC (8th, China), CETC (9th, China), and L3Harris Technologies (10th, USA).
🇮🇳 National News
Bharat Taxi, a cooperative-based ride-hailing service positioned as a government-backed alternative to Uber and Ola, has begun trial operations in Delhi and Gujarat.
The initiative operates under the Sahakar Taxi Cooperative Limited and is supported by the Union Ministry of Cooperation and the National e-Governance Division (NeGD).
Drivers are titled “Saarthis”, symbolizing respect, dignity, and equal participation in the cooperative ownership model.
Unique Features of Bharat Taxi:
- Zero-Commission Structure – Drivers retain their full fare earnings, unlike private platforms that charge up to 30% commission
- No Surge Pricing Policy – Fixed, predictable fares for passengers without sudden price fluctuations
- Cooperative Ownership – Drivers function as stakeholders and decision-makers rather than mere service providers
- Share Ownership – Drivers may buy cooperative shares and gain full transparency in income
The 2025 Regional Artificial Intelligence Impact Conference took place at the State Convention Centre in Shillong, Meghalaya as one of the regional events leading up to the India-AI Impact Summit 2026 scheduled for February 2026.
The conference emphasized the themes of People, Planet, and Progress, aligning with the government’s mission to expand AI accessibility across all parts of India, including remote areas.
The IndiaAI Mission has allocated over ₹10,300 crore to enhance AI infrastructure, capabilities, and research nationwide. As part of AI infrastructure expansion, 38,000 GPUs have been deployed for use by academic bodies, startups, and research institutions at affordable rates.
The Ministry of Electronics and Information Technology (MEITY) and the Ministry of External Affairs (MEA) have launched a fully digital, paper-free passport verification system through DigiLocker.
Citizens can now retrieve and share their Passport Verification Records (PVRs) directly from the Issued Documents section in DigiLocker, simplifying the verification and application process.
Key Benefits:
- Digital Storage – PVRs can be digitally viewed and stored, removing the need for printed or physical copies
- Verified Authenticity – DigiLocker ensures data security, minimizing risks related to document alteration or fraud
- Electronic Sharing – PVRs can be shared with authorized entities such as passport offices for quicker processing
- Contactless Procedures – Eliminates the need for physical visits and document submissions
Upon generation, a citizen’s PVR is automatically uploaded to their DigiLocker account, from where it can be shared, downloaded, or verified by government agencies for faster application processing.
RailTel Corporation of India Limited, a Navratna PSU under the Ministry of Railways, has entered into an agreement with Nokia Corporation to upgrade its National Long-Distance (NLD) and metro optical transport networks across India.
The modernization will incorporate Nokia’s advanced IP routing and optical technologies to strengthen high-speed connectivity, reliability, and network capacity for enterprise and broadband users.
Key Technologies Deployed:
- Nokia 7750 Service Router (SR) – For advanced IP routing
- Broadband Network Gateway (BNG) – For improved broadband service delivery
- Carrier-Grade NAT (CG-NAT) – Designed to handle increasing data consumption and large traffic flows
- 1830 Photonic Service Switch (PSS) – Increases transport capabilities while reducing cost per bit
The project emphasizes open-network, vendor-neutral architecture to ensure future scalability and flexibility. This deployment enables high-capacity Lambda transmission and faster intercity traffic movement.
The National Institute for Smart Government (NISG), in collaboration with MeitY and the Directorate of IT, Tripura, organized a conference titled “Harnessing AI and Digital Public Infrastructure (DPI) for Viksit Bharat” on 5 December 2025 in New Delhi, with EY serving as the Knowledge Partner.
The conference brought together policymakers, industry leaders, technology experts, and administrators to explore how AI and DPI can enhance governance and public service delivery, contributing to the national vision of Viksit Bharat 2047.
NISG and EY released a report stating that integrating AI with India’s DPI ecosystem will enable large-scale citizen-centric services, improve governance efficiency, and support economic empowerment.
💼 Business & Economy
The Securities and Exchange Board of India (SEBI) has provided preliminary approval for the registration of Raajmarg Infra Investment Trust (RIIT) as an Infrastructure Investment Trust (InvIT) under the SEBI InvIT Regulations, 2014.
This approval supports NHAI’s asset monetization strategy by enabling the monetization of national highway infrastructure. RIIT aims to establish a reliable, long-term investment option specifically designed for domestic and retail investors.
Raajmarg Infra Investment Managers Pvt. Ltd. (RIIMPL), created in November 2025, serves as the Investment Manager. It is a joint venture with equity participation from SBI, PNB, NaBFID, Axis Bank, Bajaj Finserv Ventures, HDFC Bank, ICICI Bank, IDBI Bank, IndusInd Bank, and Yes Bank.
NHAI’s Previous Monetization Achievements:
- ₹48,995 crore – Monetized through the Toll-Operate-Transfer (TOT) model
- ₹43,638 crore – Generated across four rounds of Private InvITs
To obtain final registration, RIIT must meet all required conditions within six months, including appointing directors, submitting relevant financial records, and ensuring complete regulatory compliance.
NPCI International Payments Limited (NIPL), the global division of NPCI, has signed a Memorandum of Understanding (MoU) with ACLEDA Bank Plc., Cambodia’s first publicly listed commercial bank.
The partnership aims to enable QR-code-based cross-border payment transactions between India and Cambodia.
This collaboration enhances regional payment connectivity, supports ASEAN’s vision of strengthening digitally inclusive economies, and promotes advancements in digital payment ecosystems.
Vrutti, part of the Catalyst Platform, in collaboration with HSBC India, has rolled out ‘FPO Shakti’, a phased and blended financing mechanism to help Farmer Producer Organisations (FPOs) secure necessary capital.
The initiative seeks to address the funding shortages that limit many FPOs from progressing beyond their initial incubation phases.
Program Details:
- Backing – HSBC India and Friends of Women’s World Banking (FWWB) India (Facility Manager)
- First Cohort – 15 early-stage FPOs, with long-term plans to expand support to over 100 organizations
- Financial Instruments – Stage-specific tools including revolving funds, guarantees, and revenue-linked financing
- Technical Support – Provided through Business Support Organisations (BSOs)
👔 Appointments
The Reserve Bank of India (RBI) has cleared the appointment of Vikram Sahu as the CEO of Bank of America N.A. (BANA) in India for a term of three years.
He takes over from Kaku Nakhate, who now serves as the Chair of Bank of America in India while continuing her role as Country Executive, a position she has held since 2025.
Vikram Sahu brings nearly 30 years of global financial experience, with leadership roles across India, USA, Europe, Hong Kong, and Singapore. Before this role, he spent over 14 years at Goldman Sachs, where he served as the Head of Research for South Asia.
Reliance Retail Ventures Limited (RRVL), the retail subsidiary of Reliance Industries Limited (RIL), has named Jeyandran Venugopal as its inaugural President and CEO.
He will collaborate closely with Isha Ambani, Executive Director of RRVL, and the broader leadership group under the supervision of Mukesh Ambani and Manoj Modi.
Venugopal possesses more than 25 years of expertise in retail, e-commerce, technology, and business transformation.
Previous Roles:
- Chief Product & Technology Officer (CPTO) at Flipkart – Led Product, Engineering, Design, Data Science, Infrastructure, IT, and Security
- CTO of Myntra and Jabong – Guided tech and product teams, strengthening technological foundations of fashion e-commerce covering UX, cataloguing, pricing, and supply chain systems
🔬 Science & Technology
Finland-based Nokia has partnered with Bharti Airtel to make Airtel’s nationwide network capabilities available to developers and enterprises across India.
Through this collaboration, Airtel will make its network resources accessible for third-party innovation using Nokia’s Network as Code platform, supported by an integrated developer portal.
Key Highlights:
- Subscription-Based Access – After successful pilot testing, Airtel will offer its network APIs on a subscription basis via the Network as Code platform
- Advanced Technologies – Enables development of solutions involving 5G, artificial intelligence (AI), and next-generation computing technologies
- Target Users – Developers, system integrators, and organizations can build advanced digital solutions
📅 Important Days
International Civil Aviation Day is observed every year on 7 December to highlight the vital role of global civil aviation in socioeconomic development.
The day was established by the International Civil Aviation Organization (ICAO), a UN specialized agency, to emphasize aviation’s contribution to global connectivity.
The first observance took place in 1994 to commemorate ICAO’s 50th anniversary. In 1996, the UN General Assembly formally recognized 7 December as International Civil Aviation Day.
Civil aviation has revolutionized tourism, trade, and cultural exchange by making international travel faster and more accessible.
🕊️ Obituaries
Frank Gehry, one of the world’s most iconic modern architects, died at the age of 96 at his Santa Monica residence after a short respiratory illness.
Gehry was celebrated for his bold architectural ideas, sculptural forms, and unique artistic philosophy that transformed urban skylines around the world.
He was honored with the prestigious Pritzker Prize and recognitions from leading institutions such as the Royal Institute of British Architects.
Landmark Creations:
- Guggenheim Museum – Bilbao, Spain
- Walt Disney Concert Hall – Los Angeles, USA
- DZ Bank Building – Berlin, Germany
- IAC Building (2007) – New York, USA
- New York by Gehry Tower (2011) – A 76-storey residential structure, one of the tallest globally
Influenced by pop art, Gehry infused modern creativity into his architectural masterpieces. His works were admired for their originality, American spirit, and innovative use of materials and structural engineering.
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