News on Indian Economy
This was more than double of the Rs 91,670 crore that was raised in 2019-20, according to Pranav Haldea, Managing Director, PRIME Database Group, India’s premier database on the capital markets. The previous highest amount raised in a financial year was Rs.1.75 lakh crore in 2017-18.
In a constant endeavour to connect the unconnected regions, 22 new routes have been operationalised in the last 3 days under the UDAN scheme out of which 6 new routes have been operationalised in North-East India.
The Minister of New and Renewable Energy recently announced the imposition of a basic customs duty on solar cells and modules. Solar cells imported into India will attract a 20% duty while a 40% duty will be levied on imported modules. These duties will be imposed starting 1 April 2022.
India Indio Networks, a homegrown Indian data networking products company, today released a new line of indigenously manufactured, enterprise-grade WiFi Access Points. Indio’s enterprise-grade Access Points are specially engineered to support various Public WiFi development initiatives like PM-WANI and WiFi Choupal which require latest generation, secure and affordable networking products.
According to Mr. Piyush Goyal, Minister of Railways, Commerce & Industry, Consumer Affairs and Food & Public Distribution, India’s goods exports will total US$ 290 billion in the FY21 ending in March.
India has imposed anti-dumping duty on Chinese bottle-grade PET (polyethylene terephthalate) resin—used to make bottles and jars for mineral water, carbonated soft drinks and pharmaceutical products among other goods—to offset the damage to the domestic industry.
Cochin Shipyard Limited, through its wholly-owned subsidiary Hooghly Cochin Shipyard Limited (HCSL), is currently setting up a modern shipbuilding facility at Nazirgunge, West Bengal at an estimated project cost of Rs 169.76 crore, as per a document of the Ministry of Shipping.
India will catch up with China in developing border infrastructure in three to four years, chief of defence staff General Bipin Rawat said on Friday. He discounted major threats from the Chinese navy in the Indian Ocean region.
The ship would ply mainly between the groups of islands but also can call the Main Land as necessary. This project is a part of a series of Four Passenger vessels comprising of 2 nos 500 Pax and 2 nos 1200 pax at a total order value of approx: 1400 crores under the “Make In India” initiative of the Government. The second 500 pax sister vessel is presently under advanced stage of construction is also expected to join the fleet in the current year.
South African nutritional food brand, Futurelife, that recently entered into a joint venture with Indian traditional snack brand, Haldirams, is likely to start production in India within the next few months, said a senior executive. The company is also likely to ‘Indianise’ the products to suit the Indian palette.
