News on Indian Economy
The exports of smartphones from India is expected to cross $1.5 billion by value this year – constituting 98 per cent of the total mobile phones exported out of the country, a new report said on Monday.
India will soon launch an ambitious ‘Deep Ocean Mission’ that envisages exploration of minerals, energy and marine diversity of the underwater world, a vast part of which still remains unexplored, a top official of the Ministry of Earth Sciences said.
The survey — conducted by the community social media platform among 14,000 Indian consumers spread over 204 districts — shows only 29 per cent of consumers purchased one or more China-made products. Of these, 11 per cent were unaware while purchasing them, while 16 per cent were informed buyers.
India plans to nearly double its oil refining capacity in the next five years, Prime Minister Narendra Modi said on Saturday, offering a much more aggressive timeline than previously despite the coronavirus pandemic blighting the economy.
In a first, India will be developing technologies for mobile base stations that can be commercialised, which will boost a host of private firms including small and medium industries, academia research labs and make 5G services — yet to be launched — more affordable.
State-owned Oil India Ltd (OIL) on Friday launched a Rs 220 crore seismic campaign to locate oil and gas in the Mahanadi basin in Odisha, as it is boosting the country”s hydrocarbon resource base.
Prime Minister Narendra Modi on Friday launched the phase two of RuPay card in Bhutan with his counterpart Lotay Tshering. Launching the card, PM Modi said that RuPay cards issued by the Bhutan National Bank can be used at ATMs for Rs 1 lakh and for Rs 20 lakh at point-of-sale terminals.
Government of India, under the SATAT initiatives envisages setting up of 5000 CBG plants by 2023-24 with production target of 15 MMT, facilitating the creation of new employment opportunities and enhancing farmers’ income towards further invigorating the rural economy.
The Indian Regional Navigation Satellite System (IRNSS) has been accepted as a component of the World Wide Radio Navigation System (WWRNS) for operation in the Indian Ocean Region by the International Maritime Organization (IMO).
Barclays updated its Indian economy’s fiscal 2022 growth projections to 8.5% from an earlier 7% estimate, saying the country will “return to normal” faster than anticipated as the COVID-19 curve begins to soften in the world’s second-most populous country.
