News on Indian Economy
The Union Government has begun the process of granting regulatory permissions to the operation of drones for commercial purposes, during the lockdown. Thirteen consortia have received permission to conduct trials for their drones and submit proof of concept to the DGCA, but when will we see them in operation? Read on to find out.
In a significant development, India has emerged as the fifth-largest producer of hydropower electricity in the world surpassing Japan. As per the International Hydropower Association, India has a total installed base standing at 50 Gigawatt now after Canada, the US, Brazil, and China.
The government has dropped contentious clauses including the evaluation of plant and machinery to be brought from China and South Korea, which had been opposed mainly by Apple, paving the way for the iPhone maker and others like Samsung, Foxconn, Oppo, Vivo, and Flextronics to make a larger play in local production using the production-linked incentive (PLI) scheme.
The stage is all set for the construction full-fledged airstrip at Kishtwar under Regional Connectivity Scheme called Ude Desh Ka Aam Nagrik (UDAN) of the Union Government.
With a view to leverage development of Hydro and Solar Power Projects in Union Territory of Ladakh, Shri A.K. Singh, CMD, NHPC, the Central PSU under Ministry of Power called on Shri R.K. Mathur, the Lt. Governor of UT of Ladakh on 29.05.2020 at J&K Bhawan, New Delhi. The meeting was held to discuss NHPC’s proposals and way forward on implementation of various identified Hydro and Solar Power Projects in Leh-Ladakh region.
NHPC intends to become the world’s biggest floating solar power company and will hold the record for a very long time. The company proposes to build 2,850 MW floating solar power plants on various reservoirs of the country.
Google Pay’s dedicated section, Nearby Stores, which allows customers to locate grocery stores in the neighbourhood is now available in 35 Indian cities. The platform added Nearby Stores in April but was available in a few major cities.
Foreign direct investment (FDI) in India rose by 13 per cent – the sharpest pace in the last four fiscals – to a record of USD 49.97 billion in 2019-20, according to official data.
Indian space tech startup company, Vestaspace Technology, is planning to launch a constellation of over 35 satellites across India in a bid to build 5G network connections and IoT functionalities across various industries.
Miso will be India’s first social distancing mini scooter and will be available in two variants. One variant will have a carrier, useful for utility vehicle whereas other one will be more focused on simple daily commute. Various battery options will be available with a range of 65 km in a single charge of battery.
