News on Indian Economy
Reacting to media reports claiming a cyberattack on the power grid near Ladakh between August and March, Singh said, “Two attempts by Chinese hackers were made to target electricity distribution centres near Ladakh but were not successful…”
In a written reply to a question raised in the Lok Sabha, the minister said the government has accorded administrative approval and financial sanction for construction of 10 indigenous 700MW PHWRs to be set up in fleet mode. He said on progressive completion of the projects under construction and accorded sanction, the nuclear capacity is expected to reach 22,480MW by 2031.
Agricultural exports increased by 19.92% to US$50.21 billion in 2021-22, according to preliminary estimates issued by DGCIS. The growth rate is impressive because it exceeds the 17.66% growth rate of US$ 41.87 billion obtained in 2020-21.
Mr. Piyush Goyal, Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, stated that India and Australia should work towards increasing bilateral trade to US$ 100 billion by 2030, up from the current level of around US$ 27.5 billion.
India has sent about 270,000 MT of petrol and diesel to Sri Lanka to help alleviate the country’s power crisis, which is occurring in the midst of the country’s worst economic crisis in decades. Last week, the High Commissioner of India handed over a shipment of 40,000 MT of diesel to Sri Lanka’s Energy Minister Mr. Gamini Lokuge, with the help of an Indian line of credit worth US$ 500 million.
Merchandise exports from India have reached USD 417.8 billion in the current financial year. This figure excludes the figures from non-EDI Ports and adding that, it is likely to exceed $418 billion, an all-time high in India’s export history.
The Central Power Research Institute (CPRI) an autonomous Society under the Union Ministry of Power, has been granted the prestigious accreditation from National Accreditation Board for Certifying Bodies (NABCB) – for certification of electrical equipment as per ISO/IEC 17065.
EOS-02 is Technology demonstration satellite for various new technologies with applications that include agriculture, forestry, geology, hydrology, miniaturised power electronics, reaction wheels etc. and forming the payload for SSLV-1.
Last year, India came in second to the United States, which attracted US$ 51 billion in investment, followed by China, which received US$ 14 billion, and the United Kingdom, which received US$ 7 billion.
The worldwide energy shortage caused by Russia’s invasion of Ukraine is providing a much-needed boost to the world’s largest refining complex. Reliance Industries Ltd.’s Jamnagar refinery is increasing crude processing and delayed planned maintenance to take advantage of rising diesel demand. It is already shipping the fuel to Europe, and this will rise in the coming months.
