News on Indian Economy
Space PSU NewSpace India opened the commercial bids of the three shortlisted entities — HAL-L&T, BHEL (single firm) and the BEL-Adani Alpha Design-BEML consortium — on Wednesday. The winning bid quoted Rs 824 crore, BHEL Rs 1,129 crore and the third group Rs 1,218 crore, a source said. These figures exclude taxes.
India’s exports surged to USD 9.32 billion in the first week of this month, posting year-on-year growth of 37.57 per cent, the government data showed on Friday.
The negotiations between National Plant Protection Organisations of India and Canada on market access for Indian Banana and Baby corn resulted in Canadian market access for these commodities.
The first India-made Dornier 228 aircraft was delivered to Alliance Air on Thursday. The aircraft can carry up to seventeen passengers and is capable of running day and night operations.
Funded by the Government of India, this project is expected to come up in two years and will involve the setting up of two wind turbines of over 8MW (megawatt) capacity, in order to perform studies and collect data on the feasibility of large-scale projects of this kind.
Reacting to media reports claiming a cyberattack on the power grid near Ladakh between August and March, Singh said, “Two attempts by Chinese hackers were made to target electricity distribution centres near Ladakh but were not successful…”
In a written reply to a question raised in the Lok Sabha, the minister said the government has accorded administrative approval and financial sanction for construction of 10 indigenous 700MW PHWRs to be set up in fleet mode. He said on progressive completion of the projects under construction and accorded sanction, the nuclear capacity is expected to reach 22,480MW by 2031.
Agricultural exports increased by 19.92% to US$50.21 billion in 2021-22, according to preliminary estimates issued by DGCIS. The growth rate is impressive because it exceeds the 17.66% growth rate of US$ 41.87 billion obtained in 2020-21.
Mr. Piyush Goyal, Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, stated that India and Australia should work towards increasing bilateral trade to US$ 100 billion by 2030, up from the current level of around US$ 27.5 billion.
India has sent about 270,000 MT of petrol and diesel to Sri Lanka to help alleviate the country’s power crisis, which is occurring in the midst of the country’s worst economic crisis in decades. Last week, the High Commissioner of India handed over a shipment of 40,000 MT of diesel to Sri Lanka’s Energy Minister Mr. Gamini Lokuge, with the help of an Indian line of credit worth US$ 500 million.
