News on Indian Economy
The report prepared by Oxford Economics, which is engaged in global forecasting and quantitative analysis, India is likely to achieve an average growth of 6.5 per cent in 2019-28, the highest among the emerging economies.
A complete ‘Make in India’ initiative, the project is a step towards saving traction energy cost and cutting down on carbon emissions.
The delivery milestone highlights the ongoing success of Lockheed Martin’s hallmark Make in India partnership with Tata.
Some 56 smaller contract areas of ONGC and OIL have been bid out to companies under the two rounds of discovered small fields over the last few years.
The overall target will include production of 100 crore mobile handsets by 2025, valued at about Rs 13 lakh crore, including 60 crore mobile handsets valued at nearly Rs 7 lakh crore for export.
Iron ore output is estimated at 210 mt this fiscal ending in next March and climbing to 225 mt in FY20. ICRA expects that in largest ore producing state Odisha, production could rise by 10 per centas 17 mines’ lease held by merchant producers are lapsing by March 2020.
During the Crown Prince’s two-day visit, India is likely to raise the issue of Pakistan sponsored terrorism with him, officials hinted. The two countries may even issue a strong statement on terrorism and are expected to strengthen their intelligence-sharing mechanism to combat terror globally.
Aero India 2019 :There will be 61 aircraft on display and 403 exhibitors would be part of the Aero India show. More than 200 Foreign Companies are here to participate and witness the largest Aero Show of Asia.
The new manufacturing facility, its first in India for LEAP turbofan engines, will involve an investment of around €40 million (approximately ₹323.3 crore) with a capacity of around 20,000 units a year, said its global chief executive Philippe .
We believe these regulations will pose headwinds to growth in the near term as some of the prominent companies restructure their businesses, processes and contracts, to be compliant,” the global financial services major Morgan Stanley said in a report..
