News on Indian Economy
India witnessed 19 Initial Public Offering (IPOs) worth US$ 1.84 billion in Q4 2020 and market sentiment remains positive, according to leading consultancy EY’s India IPO Trends Report.
The London-based consultancy firm expects the Indian economy to recover sharply this year from its current technical recession, expanding 9.7 percent, quicker than other major economies across the globe. China is expected to see growth of 8.6 percent.
Indian Farmers Fertiliser Cooperative Limited (IFFCO) ranked 65th in the overall turnover ranking from 125th in the last financial year and is in the leading position among the world’s 300 leading cooperatives, according to an official release.
The primary objective of implementing the sewage treatment plant in Imphal is to control pollution in Nambul River which flows into Loktak, the largest freshwater lake in northeast India, Ibohal said.
The plant will be connected to our state-of-the-art Energy Network Operation Centre (“ENOC”) that continuously monitors and analyses performance of 80+ solar and wind plants across diverse locations in India.
Ola on Wednesday announced that it has joined hands with Siemens to build India’s most advanced electric vehicle manufacturing facility in Tamil Nadu. Last month, the popular ride-hailing platform signed a 2,400-crore-deal with the Tamil Nadu government to set up its first factory in the state. Upon completion, the factory will create almost 10,000 jobs, the company claimed.
The Union Cabinet, chaired by the Prime Minister, Shri Narendra Modi, has given its approval for the investment of Rs.5281.94 crore for 850 MW Ratle Hydro Electric (HE) Project located on river Chenab, in Kishtwar district of Union Territory of Jammu and Kashmir, by a new Joint Venture Company (JVC) to be incorporated between National Hydroelectric Power Corporation (NHPC) and Jammu & Kashmir State Power Development Corporation Ltd (JKSPDC) with equity contribution of 51% and 49% respectively.
The 700-megawatt pressurized heavy water reactor of the Kakrapar Atomic Power Station, located in the western state of Gujarat, is the first of 16 planned units that will help balance the grid against growing intermittent renewable generation, according to K.N. Vyas, India’s atomic energy secretary.
The Ministry of Road Transport & Highways (MoRTH) has created a record by constructing 534 km of National Highways (NHs) in the last week commencing 8 January.
India has supplied a consignment of two Mobile Harbour Cranes (MHC) to Iran’s Chabahar port, with a total contract value of over USD 25 Million under a contract agreement for supply of 6 MHC. The consignment of cranes arrived from Marghera port, Italy has been unloaded successfully on 18th January 2021 at Chabahar port and presently undergoing trials run.
