News on Indian Economy
Initially, 2 DEMU rakes will be converted and later, 2 Hybrid locos will be converted based on Hydrogen Fuel cell power movement. There will be no change in the driving console. Also, the project will lead to saving of Rs.2.3 Cr. annually.
He added that target must be set to increase the export of handloom items from existing 2,500 crore rupees to 10,000 crore rupees in the next three years. Addressing an event on the occasion of 7th National Handloom Day here today, Shri Goyal said that nation is committed to ensure sustainable development of the handloom sector thereby empowering handloom weavers and workers financially and instilling pride in their exquisite craftsmanship.
Prime Minister Mr. Narendra Modi will launch a national campaign on Friday to meet a US$ 400 billion merchandise export target for the current fiscal year. In the first four months of 2021-22, India achieved roughly a third of its yearly objective.
India’s state refiners plan to invest Rs. 2 trillion (US$ 26.96 billion) by 2025 to increase oil refining capacity by 20% in Asia’s third-largest economy, according to Mr. Rameswar Teli, Minister of State Ministry of Petroleum and Natural Gas.
Indian Space Research Organisation (ISRO) has launched a study to explore whether quality assurance mechanisms used in space technology to reduce human errors can be replicated in Indian hospital settings to ensure zero defect and quality of service in the emergency and intensive care units.
Border Roads Organisation (BRO) has constructed and black-topped the highest motorable road in the world at 19,300 ft at Umlingla Pass in Eastern Ladakh, creating a record in high-altitude road construction. It has constructed a 52-km long tarmac road through Umlingla Pass, bettering the previous record of a road in Bolivia connecting to its volcano Uturuncu at 18,953 ft.
Make in India initiative has made significant achievements and presently focuses on 27 sectors under Make in India 2.0. Department for Promotion of Industry and Internal Trade is coordinating action plans for manufacturing sector, while Department of Commerce is coordinating service sector.
These large synthetic molecules, ‘specialty friction-reducer polymers’, are in high demand globally but unfortunately, India was not a part of the global supply chain for the product, Prof Sandeep D Kulkarni, the lead researcher said.
In a major boost to exports of exotic fruit, consignments of fiber& mineral rich ‘dragon fruit’, which are sourced from farmers of Gujarat & West Bengal, have been exported for the first time to London, United Kingdom & Kingdom of Bahrain. In India, dragon fruit is also referred to as Kamalam.
The IDEA would help in laying down the architecture for the Agri-stack in the country and that would serve as a foundation to build innovative agri-focused solutions leveraging emerging technologies to contribute effectively in creating a better Ecosystem for Agriculture in India. This Ecosystem shall help the Government in effective planning towards increasing the income of farmers in particular and improving the efficiency of the Agriculture sector as a whole.
