India

Loop Industries announced a $1.5 million engineering services agreement with ELITe, its Indian joint venture, to support the construction of its Infinite Loop™ India facility. The deal follows a completed initial agreement and highlights engineering services as a key revenue source. Loop is also pursuing off-take agreements with major brands for the India JV to solidify its position in sustainable materials. Ground-breaking is anticipated in the latter half of 2025.

A tragic incident at Ahmedabad’s airport resulted in the suspension of operations. An Air India Boeing 787-8, en route to London, crashed shortly after takeoff, disappearing from radar. All 242 people on board are reported dead. This marks the first total loss of a 787 model, with eyewitness accounts detailing the crash and ensuing fire.

A Boeing 787-8 Dreamliner operated by an Indian airline crashed near Ahmedabad Airport on June 12th. The aircraft, carrying 242 passengers and en route to London, reportedly crashed shortly after takeoff into a residential area. Sadly, all 246 people on board are presumed dead. This marks the first known crash for the 787, Boeing’s latest model, previously boasting a perfect safety record.

India has surpassed Japan to become the world’s fourth-largest economy, according to the NITI Aayog. Driven by a robust 6.5% growth rate, the economy now exceeds $4 trillion. Government officials project India will be the third-largest economy in three years. This milestone aligns with the nation’s ambition to become a developed country by 2047.