News on Indian Economy
The contract has been described by the defence ministry as the `largest ever single export order’ to the state owned OFB that manufactures a bulk of the ammunition in used by the Indian armed forces. In particular, the OFB will supply 50,000 numbers each of the 155 mm HE ERFB BT Shell and Primer M19l-A2 to UAE.
Minister of Railways and Commerce & Industry, Piyush Goyal spoke about the Modi government’s ambitious plan to make the national transporter environment friendly, which means the Indian Railways is planning to expand the use of solar energy.
“The same priorities continue in the Modi 2.0 term, with a time-bound and streamlined approach,”Singh said and added, “The development is envisaged to be all inclusive, that is, inclusive of all regions, as well as all spheres and all dimensions.”
India now produces roughly 24 mtpa of urea (many plants operate above their rated capacities) and imports 7-8 mtpa (table 2). If all the proposed new capacities materialise, imports may reduce to nothing.
Defence officials said India is building a network of such radar stations in Indian Ocean region. The coastal surveillance radar is the primary sensor for Integrated Coastal Surveillance System (ICSS). It is capable of detecting sub 20-metre boats such as county boats, dinghies and fishing vessels in heavy sea clutter environment in all weather conditions. The radar is capable of operating 24×7.
The Defence Testing Infrastructure Scheme (DTIS) being unrolled by the ministry will invite consortiums from the industry, associations or academia to set up and run the eight greenfield ranges for defence and aerospace related production.
It plans to invest ₹100 crore to set up the unit at its campus in Taramani, Chennai.This is a marked departure for the research body that has developed technologies, on its own or as a sponsored initiative, and licensed out the know-how.
Addressing business leaders in Denver, Colorado, India’s Ambassador to the US Harsh Vardhan Shringla said India-based global IT services companies employ more than 175,000 workers in the US accounting for 8.4 per cent of employment in the computer systems design and related services industry.
In the old world order as on 1987, 75% of the world GDP was controlled by 15 countries of US, Canada, Western Europe and later entrant was Japan, 45% of world trade was within these nations and all of them are aging rapidly, hence they will come outside and invest.
The Chief Minister said the state government has acquired land for defence corridor and is developing an industrial corridor along the Bundelkhand Expressway. Giving further information on the efforts of the government to attract investment, he said the government is acquiring land in Lucknow and Kanpur for industrial development.
