News on Indian Economy
Agriculture scientist Altaf Eijaj Andrabi told IANS, “saffron is cultivated only in Jammu and Kashmir, but it has a demand all over the world. India exports saffron to England, America and some Middle East countries. It sells at Rs 5 lakh per kilogram in the international market. In India it sells at about Rs 3 lakh per kg.”
The unlisted tech startups in India have raised $11.3 billion this year, a substantial jump from last year’s $10.5 billion fundraise, research firm Tracxn told TechCrunch.
With this, Saudi Arabia would become the third country in the Gulf region to get the RuPay card facility after the UAE and Bahrain.
The World Bank report said that Prime Minister Narendra Modi’s “Make in India” campaign focused on attracting foreign investment, boosting the private sector—manufacturing in particular—and enhancing the country’s overall competitiveness.
“We see the Indian economy rebounding from our projected 6.1 per cent growth this fiscal year to something like 7 per cent in the next fiscal year (2020). We see the factors that will support growth, including monetary policy stimulus, working their way through the pipeline,” Jonathan Ostry, deputy director, Asia Pacific Department at the IMF, told reporters.
Around 500 persons worked day and night without break from 2nd September 2019 to 20th October 2019 to execute this complex and challenging work in minimum possible time and with minimum inconvenience to public using innovative and out of the box methodologies and meticulous planning.
The Indian side was led by the Minister of Railways and Commerce & Industry, Shri Piyush Goyal at thesehigh-level delegation levelmeetings. The Swiss delegation comprising Swiss Officials from Department of Transport and representatives from Swiss companies was led by Her Excellency Simonetta Sommaruga, Hon’ble Federal Councilor and Head of the Federal Department of the Environment, Transport, Energy & Communications.
The contribution from the US in global economy is projected to fall to the third place after India. India’s contribution is to rise to 15.5 per cent and overtake America’s share in next five years. America contribution is expected to slip from 13.8 per cent to 9.2 per cent by 2024.
According to the statement, the JV agreement was signed by Deepak Mittal, managing director, ITL, and Yang Shao Jie, founder and chairman, Shandong Luyu Heavy Industry Company Ltd. in New Delhi on 19 October. The entity will be named as Luyulika (Laizhou) Agri Machinery Company Ltd. The financial advisor to ITL was KPMG.
In the year, company has broadened its framework and successfully increased its business in the smartwater in India, becoming the second largest premium water brand in the market since its launch in 2018. Coca-Cola said, “India is now the fourth-largest market globally for the smartwater brand, with a target to be in 90,000 outlets by the end of 2019.”
