India has approved the Reserve Bank of India's proposal to begin large-scale field trials of polymer banknotes in ₹10 and ₹20 denominations. The RBI will print 2 billion polymer notes for testing to evaluate their durability, cost-effectiveness, and performance in circulation. Officials clarified that there is no plan to replace existing paper currency, with both polymer and paper notes expected to circulate together if the pilot succeeds. Polymer banknotes, already used in over 60 countries including Australia, the UK, and Canada, last significantly longer than conventional paper notes and offer improved resistance to wear, moisture, and dirt. The move revives a proposal first announced in 2012 and aims to improve the lifespan of Indian currency while reducing long-term currency management costs.

India Approves Polymer ₹10 & ₹20 Banknote Trials | RBI to Test 2 Billion Plastic Currency Notes

India’s trade deficit narrowed slightly in May as rising exports helped offset import costs despite volatile energy prices and global disruptions. Businesses continue to navigate challenges from West Asia tensions and shifting trade dynamics, while India’s export structure shows gradual movement toward higher value-added goods. Analysts say the data reflects a more resilient trade position amid global uncertainty.

May Trade Data: India Moving Up Value Chain Fast 

This projection is anchored in domestic growth drivers rather than external demand, reflecting India’s increasing insulation from global volatility.

Economic Survey 2026: India to maintain fastest-growing major economy status with GDP Growth 6.8–7.2%. Why this matters!

India’s economy shrank 7.5 per cent in the fiscal second quarter, after seeing a record contraction of 23.9 per cent in Q1.

WION Dispatch: India’s economy shrinks 7.5% in Q2, falls into recession

Watch today in 'World Business Watch': India business sentiment recovers in July-September quarter as the Indian government unlocks the economy.

India business sentiment recovers in 3rd quarter as govt unlocks the economy

India is drawing up an incentive plan for the autos sector aimed at doubling exports of vehicles and elements in the future 5 decades

India plans incentives for auto firms to boost exports