News on Indian Economy
“In 2020-21, India got the greatest amount of FDI it has ever received. It increased by 10% to US$ 81.72 billion, with FDI totaling US$ 12.1 billion in May 2021, which is 203% more than May 2020.” He mentioned this while speaking to a group of industrial groups about encouraging exports.
Union Minister of State for Commerce and Industry Ms. Anupriya Patel on Tuesday inaugurated the “India-ASEAN Engineering Partnership Summit” organised by Engineering Exports Promotion Council (EEPC) with the support from Ministry of External Affairs and Department of Commerce.The focus of today’s summit is on collaborations in engineering sector. The summit offers an important platform for engagement of Indian industry on India-ASEAN partnership in engineering trade and investments. This forum will also be instrumental in achieving the landmark export target set by the government both in terms of engineering as well as merchandise exports.
According to a statement released by Boeing on Monday, Mahindra Aerostructures has been granted a contract to produce intake outer barrel components and sub-assemblies for the B737 aircraft and ship them to Boeing’s facilities in the United States. The inlet duct of an aircraft engine regulates the flow of air before it enters the compressor.
Engineering goods exports from India hit an all-time high of US$ 9.14 billion in July, accounting for one-fourth of the country’s overall merchandise exports, thanks to robust demand from the United States, Europe, and the United Arab Emirates (UAE).
world’s second most desired manufacturing destination, indicating the growing interest shown by manufacturers in India as a preferred manufacturing hub
Foreign portfolio investors (FPI) have made a net investment of Rs. 5,001 crore (US$ 673.48 million) so far in August 2021 in Indian equities, according to data published by NSDL.
The geology and mining department of Arunachal Pradesh is all set to collaborate with the Atomic Minerals Directorate for Exploration and Research (AMD) to explore atomic minerals in the state.
The National Thermal Power Corporation (NTPC ) Ltd, has commissioned the largest floating solar PV project of 25MW on the reservoir of its Simhadri thermal station in Visakhapatnam, Andhra Pradesh. This is also the first solar project to be set up under the Flexibilisation Scheme, notified by the Government of India in 2018.
Taking advantage of pandemic-related lifestyle changes Indian home textile exporters are expected to have a strong year in FY22, according to investment research company ICRA, due to improved cleanliness awareness and the predominance of stay-at-home choices.
Between March 2017 and March 2021, the Reserve Bank of India (RBI) reported a 24% increase in financial inclusion (FI) as assessed by the RBI’s FI-Index.
