News on Indian Economy
This procurement will utilize 5 Million USD from the recent grant provided by the Asian Development Bank (ADB). EESL has received financing from ADB towards the cost of scaling up and financing high priority areas like Demand Side Energy Efficiency Sector Projects.
Ministry of Road Transport and Highways has surpassed its target for construction of National Highways in the country till the past weekend. During April to August this year, 3181 kilometre NH length was constructed against the target of 2771 kms for this period. This includes 2104 kms by State PWDs, 879 kms by NHAI, and 198 kms by NHIDCL.
As India battles the Covid-19 pandemic, its pharmaceutical industry and health care services have seen a strong growth. Companies such as Ipca showed improved sales and profitability led by its export’s formulations and APIs (active pharmaceutical ingredient) business which jumped by 72 percent year-on-year (y-o-y). The demand for malaria drug Hydroxychloroquine Sulfate (HCQ) to treat Covid-19 had led the momentum in APIs for Ipca
India is emerging as one of the preferred destination for International garment companies to shift their base from China.
This ‘Made in India’ solution will be a plug-and-play option for many of the banks and acquirers already connected to Mosambee. It also helps enable small businesses to compete more effectively while enhancing overall customer service.
To boost the India’s toy manufacturing industry and be in line with Vocal for Local campaign, Karnataka Chief Minister B S Yediyurappa announced the proposed toy cluster in Koppala in Karnataka.
Union Minister Piyush Goyal sharing light on the India-US trade deal on Tuesday said the package is near ready and can be finalised at any time. Speaking on the crucial matter, Goyal said that the whole package is near ready and can be finalised at any time when the local political situation in the US permits them to. India believes that it has to be a win-win situation for both India and US.
With an aim to achieve 1 billion tonnes (BT) coal production by the year 2023-24 and make the nation Aatmanirbhar in Coal, National Miner Coal India Ltd (CIL) will invest over Rs. 1.22 lakh crores on about 500 projects related to coal evacuation, infrastructure, project development, exploration and clean coal technologies, said Union Minister of Coal and Mines Shri Pralhad Joshi today while addressing a Stakeholders meet organized by CIL through video conferencing.
As a first step towards Greening the Indian short term power Market, Shri R. K. Singh, the Minister of State (IC) Power and New & Renewable Energy & Minister of State (Skill Development and Entrepreneurship), launched pan-India Green Term Ahead Market (GTAM) in electricity through video conference in New Delhi, today, the 1st September 2020.
Smt Harsimrat Kaur Badal, Union Minister of Food Processing Industries has stated that new integrated cold chain projects are likely to generate direct and indirect employment for 16,200 and are likely to benefit 2,57,904 farmers.27 projects were approved in Inter-Ministerial Approval Committee (IMAC) meetings under the Scheme for Integrated Cold Chain and Value addition infrastructure of Pradhan Mantri Kisan SAMPADA Yojana (PMKSY). The meetingswere chaired bySmt. Harsimrat Kaur Badal through video conferencing.
