News on Indian Economy
The Protocol on Inland Water Transit and Trade (PIWTT) between India and Bangladesh allows mutually beneficial arrangements for the use of their waterways for movement of goods between the two countries by vessels of both countries. T
Speaking at NIOT’s silver jubliee celebrations here, Naidu said that he has been informed that NIOT is working towards developing a deep-sea mining system and other technologies for harnessing resources from the ocean to meet India’s growing mineral needs and increase self-sufficiency in the near future.
The French companies, along with several more Indian firms, will participate in the second Indo-French Investment Conclave that will be held in Goa on November 8. The previous edition was held at Nagpur, Maharashtra and yielded investment proposals to the tune of Rs 12,000 crore, event convener Prasanna Mohile, said.
The 15 flagship outlets for TVS Motors will be opened with the support of Cadisa in a phased manner. The presence of the company will also be in 17 multi-brand outlets and over 150 retail stores across Guatemala and 25 service outlets will also be operated by the company. According to the statement, the company will also provide retail finance schemes to boost the range of two-and three-wheeler sale.
At least 200 retail outlets are planned to be initially set by both companies. This comes at a time when the Saudi’s national oil company Saudi Aramco is planning to enter into the Indian downstream market through a tie-up with Mukesh Ambani-led Reliance Industries.
Speaking at the launch of a new index that Bloomberg introduced – a new benchmark that measures competitiveness against the new disruptive forces like automation, digitisation, climate change, protectionism, and populism, Orlik said India could gain most from its edge in the services ector. Hence, though ranked 43rd by traditional measures of drivers of growth, it could move ahead rapidly because of its strength in the services sector and digital sector advantage.
The new international airlines, which will operate from India during the winter schedule — from 27 October 2019 to March 28, 2020 — include Air Tanzania, Arkia Israeli Airlines, Azerbaijan Airlines, LOT Polish, Nok Air, Nok Scoot Air, and VietJet Airlines, the official added, requesting anonymity.
According to global research firm Gartner’s report, total spend in the IT services space is likely to grow by 5.5 per cent in 2020 and will touch US$ 1.08 trillion as compared to 3.7 per cent rise estimated for 2019.
At this speed, we are bound to cross USD one billion mark in the year 2019, it said, adding that early this month a Chinese trade delegation visited India and signed a contract for the import of marine products worth USD 500 million in the next two years.
India is planning to open 100 additional airports by 2024, as part of a plan to revive economic growth in Asia’s third-largest economy, according to people with knowledge of the matter.
