News on Indian Economy
Tata Motors on Friday stated it has released its brand new variety of passenger automobiles in Bhutan. The business enterprise stated it has released the product variety in association with Samden Vehicles, an authorised distributor of passenger automobiles in Bhutan.
According to data from the Indian Bureau of Mines (IBM), Ministry of Mines, the index of mineral production in the mining and quarrying industry in November 2021 (Base: 2011-12=100) was 111.9, which was 5% higher than the level in November 2020. The cumulative growth rate from April to November 2021-22 is 18.2% higher than the previous year’s similar period.
As per the data of Indian Bureau of Mines (IBM), Ministry of Mines, the index of mineral production of mining and quarrying sector for the month of November, 2021 (Base: 2011-12=100) at 111.9, was 5.0% higher as compared to the level in the month of November, 2020. The cumulative growth for the period April- November, 2021-22 over the corresponding period of previous year has increased 18.2 percent.
India’s gem and jewellery exports during December 2021 grew 29.49 per cent to $3,040.92 million (Rs 22,914.6 crore) as compared to $2,348.44 million (Rs 16,712.46 crore) in December 2019 — the pre-pandemic year, the Gem and Jewellery Export Promotion Council said.
The final blast for the 980-metre long Sela Tunnel (Tunnel 1) was conducted by Director General Border Roads (DGBR) Lt Gen Rajeev Chaudhry through an e-ceremony from New Delhi on January 22, 2022. This marks the culmination of the excavation works on the complete Sela Tunnel Project. This feat has been achieved by Border Roads Organisation (BRO) amidst inclement weather and heavy snowfall.
India has crossed the USD 200 million mark of export of agricultural processed product, – pickling cucumber, which is globally referred as gherkins or cornichons, in the last financial year.
According to the ‘The Indian Tech Unicorn Report 2021,’ India will have 46 unicorns (businesses valued at US$ 1 billion or more) in 2021, more than doubling the overall number to 90. ShareChat, Cred, Meesho, Nazara, Moglix, MPL, Grofers (now Blinkit), upGrad, Mamaearth, GlobalBees, Acko, Spinny, and other services are among them.
According to a survey by Credit Suisse, India is increasing market share in manufacturing exports, and its share of global merchandise exports has reached an all-time high.
The income tax department announced on Thursday that it has paid refunds totalling over Rs 1.54 lakh crore to over 1.59 million taxpayers this fiscal year.
The Minister said that the FTA with UK is expected to provide certainty, predictability and transparency and will create a more liberal, facilitative and competitive services regime.
