News on Indian Economy
There are now five DCCs across the globe, situated in Aachen, Chicago, Venice, Singapore and Beijing. NITI Aayog is now in talks with the global management consultancy to help develop a centre in India, focused on exploring the true potential of Industry 4.0 in the growth of India’s manufacturing sector.
Between 2015 to 2016, large deals have been doubled in value to US$ 23 billion and again doubled to US$ 56 billion between 2017-2018. In 2018, 70 per cent growth has been recorded by M&A activities, driven by distressed deals enabled by the corporate insolvency resolution process under the Insolvency and Bankruptcy Code (IBC), it according to a Confederation of Indian Industry (CII) and other sources.
A high-level committee headed by NITI-Aayog member V.K. Saraswat is looking into the multi-crore project details. MIDHANI and Defence Metallurgical Research Laboratory (DMRL) will be involved in supply of specialised metal alloys like steel, titanium and nickel for making the main body parts and engine.
When finished, Jewar airport will also be counted along with two of the largest airports in the world — O’Hare International Airport in Chicago, which is spread over 7,200 acres and has eight runways, and Dallas/Fort Worth International Airport in the US state of Texas that has seven runways.
Launching the mobile Apps – ‘CHC Farm Machinery’ and ‘Krishi Kisan App for Geo Tagging’- the minister urged farmers to utilise the services for improving cultivation methods and ensure higher agricultural productivity.
Indian Prime Minister Narendra Modi’s government is pushing a Make-in-India programme under which it wants global firms, including in the defence sector, to set up manufacturing centres in India to build a domestic industrial base and create jobs. “The first wing prototype is being built now. The expectation is we will begin supplying by next year sometime, this will be the sole facility for future F-16 wing production,” Lall told Reuters.
Infosys jumped to the third spot from 31st position in 2018. “Infosys’ leading position headlined an Asian invasion in the rankings,” Forbes said.
The companies, coordinated by Dubai-based Emaar Group, plan to invest up to $5 billion in mega food parks in various Indian cities and up to $2 billion in contract farming, sourcing of agro commodities and related infrastructure, according to Piyush Goyal, India’s Minister of Railways and Minister of Commerce and Industry.
The Indian Railways has completed the construction of the giant four-lane cable-stayed railway overbridge (RoB) at Burdwan Junction in West Bengal. The RoB, considered to be the second largest in the country will be inaugurated by Railway Minister Piyush Goyal.
Army sources said allowing civilians at the closely guarded Siachen Glacier would help people see the difficulties and daily challenges faced by personnel of the Indian Army who man the area in extremely harsh weather conditions. The sources also said that Army chief General Bipin Rawat has said that people have developed a keen interest in the Army life and its ways.
