Economy

News on Indian Economy

1,000 Foreign Firms Mull Production in India, 300 Actively Pursue Plan

Amid chances of China possibly losing its tag of preferred manufacturing hub following coronavirus, around 1,000 foreign companies are engaged in discussions at various levels with the Indian authorities. At least 300 of these companies are actively pursuing production plans in sectors such as mobiles, electronics, medical devices, textiles and synthetic fabric, according to top government sources.

67% Wheat Harvested, Summer Crop Sowing in Progress: Agri Ministry

Wheat crop harvesting reached around 67 per cent of the total area under cultivation so far and summer crop sowing is also in progress despite a nationwide lockdown as timely intervention by the central and state governments has ensured that there is minimal or no disruption to the farm activities, said the Union Agriculture Ministry.

Movement of Fertilizers Going On to Meet the Demand of Farmers

Despite lot of movement restrictions due to National level COVID-19 lockdown, with the concerted efforts of Department of fertilizers, Railways, States and Ports, production and supply of fertilizers in the country is going on to meet demand of the farmers. As such highest number of 41 rakes of fertilisers were moved on last Friday, 17.4.2020 during lockdown period.

The Potential for Indian Inland Waterway and Coastal Transport Development

The Indian peninsula has a vast coastline of 5,423 km and an additional 2,094 km around the 1,256 islands in the Andaman and Lakshadweep group of islands. With 200 miles of Exclusive Economic Zone the country has gained a territory of around 100,000 sq km of water surface for economic exploitation. A number of rivers pour into these seas around peninsular India. It has been estimated that around 14,500 km length of rivers are navigable throughout the year.

National Security in Focus as India Amends FDI Rules

India’s decision on Saturday to amend FDI rules requiring government approval for entities from countries that share a land border — read more specifically as China — is not only an attempt to protect vulnerable assets from predatory acquisitions but a recognition that in the wake of the Covid-19 crisis India needs to draw a careful line between economic openness and national security.