News on Indian Economy
The COVID-19 pandemic has driven digital transformation of Micro, Small and Medium Enterprises (MSMEs) in India, as these businesses are now adopting technology for business continuity and growth.
India will demand foreign firms use more locally produced materials when working on government-run projects, a government order said late on Friday.
Nepal on Friday started the trial of its first broad-gauge railway service after procuring railway engines, coaches from India.
India may soon manufacture its own super alloy steam turbine rotors for efficient coal based thermal power plants – thanks to a facility being set up by Bharat Heavy Electricals Limited (BHEL) to assess Low Cycle Fatigue effects in rotors required for such power plants.
Parliament today passed two bills aimed at transforming agriculture in the country and raising farmers’ incomes. The Farmers’ Produce Trade and Commerce (Promotion and Facilitation) Bill, 2020 and The Farmers (Empowerment and Protection) Agreement of Price Assurance and Farm Services Bill, 2020 which were passed by Lok Sabha on 17th September 2020, were passed by the Rajya Sabha also today.
tate-run engineering firm Bharat Heavy Electronics Limited (BHEL) recently announced its tie-up with SwissRapide AG to bring magnetic levitation trains commonly called Maglev trains to India.
Textile Sector in India provides largest source of employment in the country with over 4.5 crore people employed directly and another 6 crores people in allied sector including large number of women and rural population through various schemes and public programmes
Sensing the importance of such small satellites, Isro is planning to launch a small satellite launch vehicle (SSLV) that will be used extensively to launch small and nano-satellites, Saraswat said during a presentation at the inaugural session of the International Space Conference and Exhibition ‘Ushering the New Era in Indian Space Sector’, organised by the Confederation of Indian Industry, on Tuesday. Currently, Saraswat said, the Indian space economy is valued at $7 billion, which is around 2% of the global space economy worth $348 billion.
India has entered into Air Bubble agreements with 10 countries viz. USA, Canada, France, Germany, UK, Maldives, UAE, Qatar, Afghanistan and Bahrain, till 13.09.2020.
A few days ago, Ministry of Micro Small and Medium Enterprises (MSME), had announced expanding and doubling the support to Artisans who might be interested in making Agarbatti. Taking these efforts further, the Ministry has now come out with new guidelines for two more schemes which include ‘Pottery Activity’ and ‘Beekeeping Activity’.
