News on Indian Economy
The initial public offering (IPO) market is expected to recover due to the launch of initial share-sales by four firms scheduled next week that is expected to raise Rs. 9,123 crore (US$ 1.25 billion) collectively.
If all goes according to the plan, the Western Dedicated Freight Corridor (WDFC) will finish building a road overbridge (ROB) in 20 days, a milestone for the country.
Sources confirmed an important bridge towards Doka La in Sikkim has been launched by the Border Roads Organisation, and Yangtse in Arunachal Pradesh has been linked with roads. “Launch of Indigenously-developed (by GRSE) 140’ double lane Class-70 modular bridge in Sikkim (to Dokala) is complete, and forward location of Yangtse in Arunachal Pradesh is now connected with road.” said the source.
In a major amendment to the ongoing FAME-II scheme, the Ministry of Heavy Industry has announced incentives for India-made electric two-wheelers.
The country’s foreign exchange reserves crossed the $600 billion mark for the first time after increasing by $6.842 billion in the week ended June 4, RBI data showed on Friday.
The multi-instrument facility includes Quadrupole Inductively Couple Plasma Mass Spectrometer fitted with collision reaction cell (QQQ-ICP-MS), and an Inductively Couple Plasma Optical Emission Spectrometer with dual detection capability (ICP-OES).
For agriculture products (excluding marine and plantation products), the growth is 28.36% with exports of USD 29.81 billion in 2020-21 as compared to USD 23.23 billion in 2019-20.India has been able to take advantage of the increased demand for staples during the COVID-19 period.
Indian automobile giant Mahindra & Mahindra has opened a new $230 million plants for an off-highway vehicle in Detroit, the world’s car capital, which got its first automotive production facility in 25 years.
The report said, India which has a population of 130 crore people presents 10x revenue opportunity as compared to rest of South East Asia.
In a major boost to mango exports potential from eastern region, sixteen varieties of mangoes including three GI certified Khirsapati & Lakshmanbhog (West Bengal), Zardalu (Bihar) are being exported to Bahrain commencing today.
