News on Indian Economy
India will levy a 5% basic customs duty on imports of picture tubes used in making open cells – used in display screens of LED or LCD televisions – from November 12, 2020. The move will encourage foreign companies to set up display manufacturing units in India, industry insiders said.
The Ministry of Agriculture along with Central Institute of Horticulture, Nagaland organized today a virtual meeting on ‘Value Chain Creation for Kiwi fruit – Farm to Fork’ keeping in mind the popularity of the fruit due to its tremendous commercial potential.
In the first quarter of this fiscal year through June, customer spending on telecom services increased 16.6% year-on-year, quite apart from the Covid disruption and lack of access of offline recharges for a few weeks, with over three-fourths spent on data services, ICICI Securities said.
The country’s exports increased 22.47% year-on-year to US$ 6.75 billion in the first week of November, indicating significant progress, supported primarily by growth and development in the pharmaceuticals, gems and jewellery and engineering sectors, an official said on Tuesday.
The glass skywalk adds to the allure of the scenic religious site which doubles up as a popular tourist location. Chenrezig or Avalokiteshvara, as per local folk tales, is the earthly incarnation of Lord Buddha, Amitabha. The statue at Choeling area in Pelling was constructed at a cost of Rs 46.65 crore.
A Memorandum of Understanding (MoU) has been signed by the Airports Authority of India (AAI) recently, with a subsidiary of National Thermal Power Corporation (NTPC) to promote usage of electric vehicles as well as set up solar power plants at its airports.
Alstom, a leader in sustainable and smart mobility, achieved another milestone today in India. It’s SriCity factory in Andhra Pradesh that manufactures Rolling Stock (MetroTrains) for Urban Metro projects, successfully completed production of its 500th Metro Car. As Alstom’s largest Urban Rolling Stock manufacturing unit in the Asia-Pacific region, this facility is delivering metro trainsets to not only Indian cities but also global ones – Chennai, Kochi, Lucknow, Mumbai, Sydney and Montreal.
Indian Railways with the objective of bringing hospital management on a single architecture to prevent pilferage and making operations seamless has entrusted RailTel Corporation of India Limited (“RailTel”) with implementation of hospital management information system (“HMIS”) an integrated clinical information system for its 125 health facilities and 650 polyclinics across India for improved hospital administration and patient healthcare.
Tata Steel Europe and POSCO of South Korea plans to collaborate to develop the necessary steel tubes for high-speed hyperloop transport systems, the companies said on Monday.
According to McKinsey, the manufacturing sector could become an engine for economic growth and jobs if it can specialise. India has a potential of US$ 300 billion opportunity and could double its manufacturing gross domestic product (GDP) in the next few years if it can improve the effectiveness of value chains.
