News on Indian Economy
Hyundai Mobis, the South Korean group’s main parts supplier, will create a second R&D center near an existing lab in the city of Hyderabad, a tech hub in central India. The company will lift the number of technicians by 20% yearly from the current 700.
In the month of March 2020, COVID-19 lockdown has affected the final testing, certification and shipment of materials. In spite of this, MIDHANI has sustained sales turnover of Rs 711.37 crore (provisional) for FY20 as compared to Rs 710.85 crore for FY19.
The employees, including 9 women, are happy to continue working on offshore installations as a nationwide lockdown restricts bringing in their replacement.
Iron ore shipments from Indian ports in FY20 touched its peak in the last six years. At the end of February, the ports had carried 50 million tonnes of the key ingredient in steel making.
In order to ensure that weaker sections of the society continue to get the basis amenities and do not get impacted during the lock down period due to COVID 19, Rs 1.70 lakh crore (US$ 24.32 billion) Pradhan Mantri Garib Kalyan Package (PMGKP) was announced by Union Finance Minister Smt Nirmala Sitharaman on 26th March 2020 to protect such people from the impact of the lockdown.
Keeping in view the need of making marketing of commodities easier for farmers, e-NAM was envisioned and launched by Prime Minster in 21 mandis on 14th April, 2016 which has now reached 585 mandis across 16 States and 02 UTs.
Hyderabad: Sterlite Power, a leading global power transmission player, today announced the commissioning of Gurgaon Palwal Transmission Project (GPTL) worth INR 1027 Cr, that will enhance the power capacity of Gurugram and Palwal areas in the state of Haryana by ~2000 MW.
India has an estimated 6.4 crores MSMEs in the country, contributing significantly to the economic and social development by fostering entrepreneurship and generating employment opportunities both at urban as well as rural level, which is only next to agriculture sector.
Maharashtra Metro Rail Corporation Limited (Maha-Metro) has issued a letter of acceptance (LoA) to Honeywell Automation India Limited for the contract worth Rs 76,33,16,727.00 for the supply of telecommunication systems for Pune Metro Rail project. The contract was signed on 25th February 2020.
At a webinar by Harvard Business School (HBS) and Harvard Business Publishing, members of the HBS faculty and India Inc executives brainstormed on economic uncertainties resulting from the pandemic and the opportunities for countries like India.
