Economy

India has developed as a net agri-machinery exporter to some of the advanced countries such as the US, the UK, Germany and Italy, an export body of engineering said on Monday.

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.