News on Indian Economy
“Even as we work through the current crisis, we are focused on the future and are investing towards it,” Daniel Mazon, vice chairman and managing director for Indian subcontinent at Philips India, told ET.
In a major initiative Union Ministry of MSME has launched CHAMPIONS portal www.Champions.gov.in, a Technology driven Control Room-Cum-Management Information System. The system utilising modern ICT tools is aimed at assisting Indian MSMEs march into big league as National and Global CHAMPIONS.
National Fertilizers Ltd, a PSU under the ministry of Chemicals and Fertilizers registered a 71 per cent growth in fertilizer sale in the month of April 2020. Despite the stringent restrictions in country in April due to COVID-19 lockdown. Company recorded fertilizer sale of 3.62 lakh MT in April’ 20 compared to 2.12 lakh MT in the same period last year.
Launching the new mandis through video conferencing, Tomar said efforts should be made to strengthen eNAM to benefit the farmers. He said eNAM portal has been envisioned by Prime Minister Narendra Modi for ambitious use of technology for the benefit of farmers.
Electronics and technology giant, Apple Inc, plans to move almost a fifth of its production capacity from China to India. According to reports, the company wants to reap the benefits of the Indian government’s new production-linked incentives (PLI) scheme to encourage local production in the country.
The department of economic affairs in the finance ministry is looking at options, including the possibility of mandating the “approval route” for Chinese foreign portfolio investment (FPI) as well. FPI investors typically acquire smaller shares and keep churning their investment. The government will initiate the steps in consultation with markets regulator Sebi.
The Roads and Buildings (R&B) Department has resumed work on several important projects like Govt Medical Colleges at Kathua, Rajouri, Doda, two colleges in Kashmir valley and longest bridge over river Chenab at Pargwal in Akhnoor sector besides several hospitals and other major projects in the Union Territory of Jammu and Kashmir.
At the same time, NTPC Koldam in Himachal Pradesh is emerging as one of the best hydropower stations in the country for FY20-21.Earlier, on 13th April 2020, country’s largest power station, NTPC Vindhyachal had achieved 100% plus PLF.
The contract, worth around Rs25.77bn ($340m), includes the delivery of 30 six-car regional commuter trainsets and 10 three-car intracity mass transit along with rolling stock maintenance for a period of 15 years.
The last five years under the leadership of Prime Minister Shri Narendra Modi, has seen the widest acceptance of “brand Khadi” in India. While the production of Khadi, the most eco-friendly product of sustainable development, has more than doubled in the last five years, i.e. since 2015-16; the sale of khadi has gone up by nearly three times during the same period.
