News on Indian Economy
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.
The saffron bowl, which was so far confined to Kashmir, may soon expand to the North East of India. Plants from seeds transported from Kashmir to Sikkim and acclimatized there are now flowering in Yangyang in the Southern part of the North-East state.
Prime Minister Mr. Narendra Modi inaugurated the Ro-Pax terminal at Hazira and flagged off the Ro-Pax ferry service between Hazira and Ghogha in Gujarat through video conferencing. He also interacted with the local users. He renamed the Ministry of Shipping as the Ministry of Ports, Shipping and Waterways.
www.iffcobazar.in, the e-commerce arm of IFFCO has announced its integration with the SBI YONO Krishi, which is the dedicated portal catering to the farmer’s needs.
The Fertilisers and Chemicals Travancore Limited (FACT), a Public Sector Company under the Ministry of Chemicals & Fertilisers, has made a record profit of Rs.83.07 Crore for the quarter ended 30 September 2020.
WhatsApp has started its payments service in India on Friday, the messaging app said in a blog post. WhatsApp received NPCI approval on Wednesday evening to ‘Go Live’ on UPI in a graded manner.
Japan has agreed to offer financial assistance to two companies — Toyota-Tsusho and Sumida — to diversify their manufacturing base to India as part of its recent initiative to provide subsidy to companies relocating from China.
After a rebound led by Korea’s Samsung, which dethroned Chinese Xiaomi to emerge as the top smartphone and mobile brand, CMR said, India’s smartphone shipments hit the highest ever level of 14% year-on-year in Q3 2020.
On the bank of a small stream, amidst the lush green paddy fields, lies the serene and a bit obscure Mimey village. Situated about 40 km away from the district headquarter under Chowkham block, Namsai district in the eastern part of Arunachal Pradesh, Mimey village is abode of some 42 households.
The Indian Railways is planning to build the world’s longest railway platform at the Hubbali railway junction in Karnataka, according to a report in Deccan Herald.
