News on Indian Economy
The gross GST Collection in FY 2021-22 post COVID-19 pandemic outbreak are showing an increasing trend. This was stated by Union Minister of State for Finance Shri Pankaj Chaudhary in written reply to a question in Lok Sabha on Mondy.
The Production-Linked Incentive (PLI) Scheme for drones and drone components has been notified on 30 Sep 2021 to push the production of drones.
Indian public technology companies revenues increased 4.5% sequentially and 17.8% annually, with digital and cloud remaining the major drivers, according to National Association of Software and Services Companies (Nasscom) “Quarterly Industry Review”. It included that companies expect to grow in double digits going forward.
India may have 228 million native social commerce shoppers by the tip of 2022, a 45% rise from the present consumer base, as consumers discover newer ways of shopping for items online through social media apps such as YouTube, WhatsApp, FB and Instagram, according to a report by Recogn.
Tata group is in talks with three states to invest up to US$ 300 million to set up a semiconductor assembly and test unit, stated two sources familiar with the matter, as part of the conglomerate’s push into high-tech manufacturing.
The capital of Manipur will be connected by rail in the next two years, taking the country’s railway network to barely 100 km from Myanmar border. This will become a new lifeline for Imphal, which is now primarily dependent on the road network for getting essential supplies.
Bharti Airtel (‘Airtel’), India’s premier communications solutions provider, today said that it has successfully conducted India’s first 5G trial in the 700 MHz band in partnership with Nokia. Airtel has been allotted test spectrum in multiple bands by the government’s Department of Telecommunications for the validation of 5G technology and use cases.
International Advanced Research Centre for Powder Metallurgy and New Materials (ARCI), an Autonomous R&D Centre of Department of Science and Technology (DST), Govt. of India and Nsure Reliable Power Solutions., Bengaluru signed an agreement for technical know-how transfer and training of personnel to set up the Li-ion battery fabrication lab on November 25, 2021.
Quoting the Prime Minister Shri Narendra Modi, Shri Goyal said the ultimate aim of EoDB reforms is to achieve Ease of Living for citizens. “I think, today India means Business and the world recognizes that. With political stability, policy continuity, pro-growth & pro-business thinking in the Government and in our young entrepreneurs and the Startups, in our traditional businesses, this is the time to really go for it.”
Exports of gems and jewellery this FY in the first 7 months upto October’ 21 was $ 23.62 bn, as compared to $ 11.69 bn (+102.09%) for the same period previous year.
