News on Indian Economy
“With emphasis on ‘Make in India’ and support from local and central government, the COVID- 19 kit has been made as per WHO/CDC guidelines. It was developed and evaluated in a record time,” Hasmukh Rawal, Managing Director, Mylab Discovery Solutions said.
The de-risking trend is all set to accelerate further because of the coronavirus pandemic. The scare, however, wasn’t around five years back. What forced companies to reduce their imports from China? There are a bunch of reasons but the most prominent is the government of India’s import substitution strategy that started levying high customs duties on the import of finished products and components.
During January 2020, mineral production stood 4.4 per cent higher than the production during the same month last year.
The said cushion enables more. By official estimates, the stock of foodgrain (wheat and rice) on March 10 was 58.49 million tonnes (mt), much more than required as a buffer in normal times. Also, there are stocks of around 3 mt of pulses, 1.1 mt of oilseed and 4 million tonnes of sugar.
India’s Ministry of New and Renewable Energy has reiterated its commitment to set up nearly 26 gigawatts solar power capacity in the agricultural sector by 2022.
By January 2020, Indian Oil had been successful in the conversion from BS4 to BS6 at 80 percent of its bulk storage terminals across the country. The company has invested around Rs 17,000 crore for the upgradation of its facilities.
The union Cabinet on Friday approved three new schemes, worth over Rs 48,000 crore, to promote large-scale electronics manufacturing, electronic component, and semiconductor manufacturing in the country, Information Technology Minister Ravi Shankar Prasad said on Saturday.
“Solar Rooftops not only offer an economical and cleaner alternative to conventional energy sources but also deliver reliability. With the increased adoption of RTS by consumers, we are confident that our solar rooftop solutions will play a big role in improving energy access across the country, in both urban and rural parts,” Tata Power Chief Executive Officer and Managing Director Mr Praveer Sinha said.
India wants to set up an e-commerce regulator and force companies such as Amazon to swiftly turn over information sought by authorities as part of a new policy being drafted, two sources familiar with the plan told Reuters.
As per the latest key world energy statistics published by the IEA in 2019, India is the 3rd largest producer of electricity in the world and it ranks 106th in terms of per capita consumption in 2017.
