News on Indian Economy
Besides the ongoing project to construct 3,323-km roads along the boundary with China, the Ministry of Defence is working on additional 104 roads (around 6,700 km) along the Line of Actual Control (LAC) in Ladakh, Himachal Pradesh, Uttarakhand, Sikkim and Arunachal Pradesh.
The Indian Oil Corporation (IOC) on Wednesday entered into a collaboration with the Israeli start-up company Phinergy to form IOC Phinergy Private Limited.
According to a report, venture capital investments in India reached US$ 10 billion in 2020, and as many as 7,000 new start-ups were founded over the same period.
The order for Cameroon has been received from the Ministry of Economy, Planning & Regional Development (MOEPRD), Cameroon for supply of 71 units of construction equipment consisting of bulldozers, excavators, wheel loaders, motor graders and compactors for their Cassava Farm Project.
Union Minister of Chemicals & Fertilizers Shri D.V. Sadananda Gowda inaugurated the 11th Edition of India Chem 2021 in New Delhi with the theme “India: Global Manufacturing hub for chemicals and petrochemicals”. He stated that the Indian chemicals and petrochemicals industry is growing to new heights, and informed that an investment of Rs 8 lakh crore is anticipated in the sector by 2025.
The objective of the Stand-Up India Scheme is to facilitate loans from Scheduled Commercial Banks (SCBs) of value between Rs. 10 lakh (US$ 13.78 thousand) and Rs. 1 crore (US$ 137.79 thousand) to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and one woman borrower per bank branch for setting up a greenfield enterprise in manufacturing, services or trading sector.
In a welcome development for those involved in the Kinnow fruit juice industry, a team of researchers at the Department of Biotechnology’s Mohali- based Centre of Innovative and Applied Bioprocessing has come out with a technique to convert the waste generated by units producing juice from Kinnow fruit into a nutritious food supplement.
The scheme is being implemented through POWERGRID, a Public Sector Undertaking (PSU) under Ministry of Power in association with Sikkim and Arunachal Pradesh and is targeted to be commissioned in phased manner by December 2021 for awarded scope of works and 36 months from RCE approval for un-awarded packages.
Seeking to expand acceptability of Indian Standards in other countries, the Bureau of India Standards (BIS) has started providing complimentary copies of the Indian Standards for reference and adoption purposes to some of the developing and least developed countries such as Suriname, Indonesia and Uzbekistan.
“We have got the required encouragement from the Centre and have taken up the exploration. There was no possibility to do heliborne exploration because of the hills. But we walked all the way up the hills to begin the exploration,” D K Sinha, director, Atomic Minerals Directorate for Exploration and Research (AMD) said in Hyderabad on Monday.
