News on Indian Economy
India and the European Union (EU) on Tuesday signed a civil nuclear cooperation agreement on the eve of a virtual summit, while Europol and the Central Bureau of Investigation (CBI) are negotiating a working arrangement to combat organised crime and terrorism.
A first ever containerized cargo export from India to Bangladesh using Inland Waterways has reached its destination Pangaon International Container Terminal, Dhaka on 12th July 2020. The barge “MV Pruthvi” carrying 45 TEUs (about 1,250 MT) of sponge iron was flagged off on 30th June 2020 from Haldia Docks for its maiden voyage from Haldia to Dhaka on Indo Bangladesh Protocol Route (IBPR).
The Indian online grocery market is estimated to exceed sales of about Rs 22,500 crore (US$ 3.19 billion) in 2020, a significant 76 per cent jump over the previous year, according to Spencer’s Retail Chairman Mr Sanjiv Goenka. The online delivery has gained attention following the COVID-19 outbreak, he added.
Technology giant Google has announced that it plans to invest over ₹75,000 crore($10 billion) in India over a period of 5-7 years. Google and Alphabet CEO Sundar Pichai made the announcement today at ‘Google for India’ virtual event. The Google’s investment in India will be made through equity investments and tie-ups, marking its biggest commitment to a growth market.
Global wind turbine major Siemens Gamesa Renewable Energy will start making the 3.4 MW wind turbine at its Indian plant in Tamil Nadu, said a company official.
India invested in 120 projects and created 5,429 new jobs in the UK to become the second-largest source of foreign direct investment (FDI) after the US in 2019, according to new UK government figures released on Friday.
For the first time the Indian Railways, loaded special Parcel train beyond the country borders to Benapole in Bangladesh with Dry Chillies from Reddipalem in Guntur District of Andhra Pradesh state.
The Department of Agriculture, Cooperation and Farmers Welfare, Government of India is taking several measures to facilitate the farmers and farming activities at field level during COVID 19 pandemic.
Tech giant Samsung on Thursday said it has started manufacturing smartwatches in India at its Noida facility as part of its ‘Make in India’ efforts. The South Korean company, which has its largest smartphone manufacturing facility in Noida, has also launched a new 4G-enabled smartwatch priced at Rs 28,490 that will be manufactured locally.
Indian Oil Corporation (IOC) said with easing of lockdown restrictions, it has resumed work on projects worth Rs 1.04 lakh crore which will help address future energy demand as well as kickstart the economy.
