Kautilya

According to data from the National Payments Corporation of India (NPCI), Unified Payments Interface (UPI) crossed US$ 100 billion in a month for the first time in October, further cementing its position as India’s most popular digital payments system. A mammoth 4.2 billion UPI transactions amounting to Rs. 7.71 lakh crore (US$ 103 billion) were recorded in the month, indicating all-time highs on both counts for the five-year-old payments channel.

According to provisional data released by the government, India’s merchandise exports in October rose 42.33% to US$ 35.47 billion.

Manufacturing activity enhanced to an 8-month high in October due to festival demand, but it failed to arrest employment cut off by firms as existing manpower were adequate to meet the rising demand, revealed IHS Markit Purchasing Managers Index (PMI) survey.

People’s massive turnout to purchase local products this festival, in response to Hon’ble Prime Minister’s appeal, has done wonders for Khadi. On 30th October, the single-day sale of Khadi at its flagship outlet at Connaught Place, New Delhi, stood at a whopping Rs 1,29,05,000 (Rs 1.29 crore), surpassing all previous records. Earlier, the highest ever single-day sale of Khadi was recorded at Rs 1,28,33,000(Rs 1.28 crore) on 2nd October 2019.