News on Indian Economy
Gujarat centre would be Dassault Systemes’ third such venture in the country after setting up CoEs in Hyderabad and Bangalore. The proposed CoE is expected to come up either at GTU’s existing campus in Chandkheda or their new university campus at Lekawada near Gandhinagar that is being built in a sprawling 200 acres area, sources said.
Dharmendra Pradhan said the blending of ethanol in petrol has risen to 6 per cent at present and the blending would rise further to 10 per cent by 2022.
For Nokia, the Flipkart collaboration is not just about a manufacturing partner, but a complete go-to-market strategy with promotions and research-backed product development.
Hundreds of startups are shaking up Indian agriculture, proposing solutions to chronically low output. The number of agritech ventures has risen 25% to 450 this year, with funding up 300% to $248 million, according to the National Association of Software and Service Companies. This wave of innovation and investment promises to support Prime Minister Narendra Modi’s pledge to double farmer incomes by 2022.
Nikita Mazein, vice-president of Rusatom Overseas (a division of Rosatom), said, “Rosatom is developing small and medium-sized solutions based on light water reactor unit of Russian design.” There is a need to explore the possibility of such projects in the coastal areas of South Asia as this nuclear energy segment provides an opportunity for boosting Indo-Russia nuclear cooperation, he said.
The inauguration was done on Tuesday, by the Governor of Tamil Nadu Banwarilal Purohit in the presence of Ministers of Finland and Tamil Nadu apart from the top officials of Kone Corporation. New factory is located at Phillaipakkam in Sriperumbudur industrial corridor near Chennai.
India’s economic interests and national priorities come first and the concerns of the farmers, dairy sector, MSMEs and domestic manufacturing will be addressed, and these sectors will be protected. Commerce and Industry Minister informed that throughout the seven-year long negotiations in RCEP India has consistently stood its ground to uphold its demands particularly over controlling trade deficit, stronger protection against unfair imports and better market opportunities for Indian goods and services.
“Despite the global headwinds, India M&A is expected to remain stable in the next few years, with private investments reviving against the backdrop of a more favourable business environment,” it said.
Union Minister of Finance and Corporate Affairs, Smt Nirmala Sitharaman today unveiled two new IT initiatives – ICEDASH and ATITHI – for improved monitoring and pace of Customs clearance of imported goods and facilitating arriving international passengers by electronic filing of Customs baggage and currency declarations. Minister of State, Finance and Corporate Affairs Shri Anurag Singh Thakur, Secretary (Revenue), senior officials of CBIC and members of trade and industry were present.
India’s digital payment backbone UPI, which has awed some of the biggest tech companies in the world such as Google and Oracle, may soon power Singapore and UAE.
