News on Indian Economy
India’s largest and most advanced shipbuilder Cochin Shipyard has selected Siemens to implement advanced marine solutions for India’s first fleet of 23 boats equipped with electric propulsion and battery integrated technology.
India and Britain will push negotiations on trade ties, their foreign ministers said after talks in New Delhi on Tuesday, as both countries seek to restart economies battered by the coronavirus pandemic.
Department of Posts (DoP) and India Post Payments Bank (IPPB) unveiled a new digital payment app ‘DakPay’ at virtual launch event today. The App is launched as part of its ongoing efforts to provide Digital Financial inclusion at the last mile across India.
The firm expects to make India an electric vehicle manufacturing centre. A memorandum of understanding for this facility with the Tamil Nadu government has been signed by Ola. The factory would produce nearly 10,000 jobs upon completion. It will be the largest scooter production facility in the world and will potentially have a total annual capacity of 2 million units.
Union Minister said, “When we first came to power in 2014, India had just two smartphone factories, now India has over 260. India has been the world’s second-biggest mobile maker. I’m aiming to reach at the top right now and that’s my dream.”
The Indian foreign ministry will launch a special website later this week that will showcase “Brand India” and its state and sector wise economic strengths with the twin aims of boosting domestic exports as well as attract foreign direct investment into Asia’s third largest economy.
Textiles, apparels, garments, and Khadi witness a huge response from international buyers in the first day of the innovative Virtual Buyer Seller Meet organized by the Indian Chamber of Commerce (ICC) here on Monday.
While India and Bolivia are in talks about having a joint manufacturing base for the batteries, both Chile and Argentina are in talks about exploration and exports of Lithium.
The amount released this week was the 7th instalment of such funds provided to the States. The amount has been borrowed this week at an interest rate of 5.1348%. So far, an amount of Rs.42,000 crore has been borrowed by the Central Government through the special borrowing window at an average interest rate of 4.7712%.
The exchange said in a statement, the BSE e-Agricultural Markets Ltd (BEAM) platform will act as an institutionalised, electronic, open, national level commodity spot trading platform in line with the vision of the prime minister to establish a single market.
