News on Indian Economy
India and Australia are in discussions for a bilateral free trade agreement, Indian Foreign Minister Subrahmanyam Jaishankar said on Wednesday, following New Delhi’s decision to walk out of a China-backed trade bloc.
The Union Cabinet on Wednesday approved Centre’s plan to launch massive wi-fi network in India. The cabinet gave nod to the setting up of public wi-fi networks to provide public wi-fi service through Public Data Offices without levy of any license fee.
India has had good diplomatic relations with Austria since the establishment of bilateral ties between the two countries in 1949. Both countries share a history of friendly economic and diplomatic relations. Austria has state of the art technologies for roads and highways, such as electronic toll systems, intelligent transportation systems, traffic management systems, tunnel monitoring system, geo-mapping and landslide protection measures.
The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given its approval for Provision of Submarine Optical Fibre Cable Connectivity between Mainland (Kochi) and Lakshadweep Islands (KLI Project).
Prime Minister Shri Narendra Modi laid the foundation stone of the New Parliament Building today. The new building is an intrinsic part of the vision of ‘AatmaNirbhar Bharat’ and will be a landmark opportunity to build a peoples’ Parliament for the first time after independence, one which will match the needs and aspirations of ‘New India’ in the 75th anniversary of independence in 2022.
On Tuesday, the car dealers’ body FADA said retail sales of passenger vehicles (PV) in November saw a year-on-year rise of 4.17% to 2,91,001 units as the duration of Diwali-Dhanteras resulted in an increase in vehicle registrations.
Microsun Solar tech Private Limited has announced the completion of some key solar projects it has made for the Indo Tibetan Border Police, (ITBP), a key border force for the Indo-China border. The Indian army thus continues to build on its plans to use solar power more actively for its energy needs.
The Gem and Jewellery Export Promotion Council of India (GJEPC) on Monday said that if the current rate continues, total shipments are projected to hit about Rs. 1.6 lakh crore (US$ 20-21 billion) in this financial year with improvement in export market conditions.
While India is yet to officially spell out its electrification targets for 2030, the aspiration as stipulated by NITI Aayog-government’s primary think tank, states that 70 per cent of all commercial cars, 30 per cent of private cars, 40 per cent of buses, and 80 per cent of two-wheeler (2W) and three-wheeler (3W) sales would be electric by the end of this new decade.
NTPC Ltd., one of India’s largest integrated energy company and a PSU under Ministry of Power, signed a Memorandum of Understanding (MoU) with Indian Institute of Forest Management (IIFM), Bhopal, on 4th December, to implement the Narmada Landscape Restoration Project. The program is in partnership with a grant in aid from NTPC Ltd and United States Agency for International Development (USAID) in equal proportions.
