News on Indian Economy
India on Friday handed over the 34.9km-long cross-border rail link connecting Jaynagar in Bihar to Kurtha in Nepal to the Nepal government, a move that is expected to enhance trade and commerce activities as well as people to people linkages between the two countries.
It’s an engineering marvel under way at an altitude of over 13,000-feet in icy cold weather to bolster all-weather connectivity and swifter military deployments to the critical Tawang and Kameng regions of Arunachal Pradesh along the China frontier.
Union Commerce and Industry Minister Mr. Piyush Goyal stated that all indicators, including GDP, foreign direct investment (FDI) inflows and exports growth, are indicating towards a strong and sharp economic recovery in the country.
State-owned GAIL (India) Ltd will build India’s largest green hydrogen-making plant as it looks to supplement its natural gas business with carbon-free fuel.
Hon’ble Prime Minister launched PM GatiShakti NMP for multi-modal connectivity on 13th October, 2021. Implementation framework includes Empowered Group of Secretaries (EGOS), Network Planning Group (NPG) and Technical Support Unit (TSU) with required technical competencies.
India Inc salaries are anticipated to see a median salary rise of 9.3% in 2022 – rendering to an average salary rise of 8.8% — as compared to the actual median salary rise of 8% (average salary rise of 7.4%) in 2021, according to the latest Salary Budget Planning Report by Willis Towers Watson.
As reported in the same news item this could be the conspiracy to malign the image of India as a reliable suppliers of quality rice to the world. The experts in India both from Genetic Engineering Appraisal Committee (GEAC) and Agricultural experts from IARI and other rice experts in India are however, investigating the matter but re-confirming that commercial GM variety of rice is not grown in India.
According to a report titled ‘Travel market in India,’ published by RedCore – RedSeer’s unit which focuses on early stage companies, the travel market in India, which was worth about US$ 75 billion in FY20, is projected to cross US$ 125 billion by FY27.
Indian startups received record funding in Q3 of CY21, with investment totalling US$ 10.9 billion through 347 deals, it is the first-time investments in a quarter that funding have crossed the US$ 10 billion mark, as per the PwC India. This was double the amount of funding received in Q3CY20 and was up ~41% over the Q2CY21 figure, stated the outcomes of the report titled ‘Startup Perspectives-Q3CY21’. The growth in funding activity was observed across all sectors, both in terms of value and volume.
India’s merchandise exports grew by 22.63 percent year-on-year to $33.79 billion in September on better performance by key sectors, even as the trade deficit widened to a record high of $22.59 billion.
