News on Indian Economy
From April to August 2024, India’s total coal production reached 384.07 Million Tonnes (MT), representing a growth of 6.36% compared to 361.11 MT during the corresponding period of the previous year. However, in August 2024, overall coal production decreased slightly to 62.67 MT, down from 67.76 MT in August 2023.
The Department of Fisheries, Ministry of Fisheries, Animal Husbandry and Dairying, Government of India marks the 4th successful year of implementation of Pradhan Mantri Matsya Sampada Yojana (PMMSY). The Department of Fisheries, GoI is accordingly organising an event to commemorate the occasion of accomplishing four successful years of Pradhan Mantri Matsya Sampada Yojana (PMMSY).
The Japanese delegation included the representatives from Ministry of Finance and Financial Services Agency. From the Indian side, the representatives from Ministry of Finance, Reserve Bank of India, Securities and Exchange Board of India, Pension Fund Regulatory and Development Authority, Insurance Regulatory and Development Authority of India, and International Financial Services Centres Authority participated in the discussion.
Shri Goyal said that as India is progressing to become the third largest economy in the world in terms of Gross Domestic Product (GDP), the auto sector must also strive to become the world leader from currently being the third largest auto market in the world. He urged the industry leaders to set a roadmap to achieve the target. Shri Goyal stressed on combining organic growth with outreach across the world along with technological improvements.
The 2nd Asia Pacific Ministerial Conference on Civil Aviation is scheduled to be held from 11th to 12th September 2024 at Bharat Mandapam, New Delhi, India. The event is co-hosted by the International Civil Aviation Organization (ICAO) and the Ministry of Civil Aviation, Government of India. The first Ministerial Conference of the Asia Pacific region was organized in 2018 in Beijing, China. During the first conference, India volunteered to host the second Conference in 2020 however due to the Covid-19 pandemic, the conference was postponed.
Prime Minister Shri Narendra Modi will inaugurate SEMICON India 2024 at India Expo Mart, Greater Noida, Uttar Pradesh on 11th September, 2024 at around 10:30 AM. He will also address the gathering on the occasion.
The drive, which will continue until September 15, 2024, has witnessed enthusiastic participation from states including Andhra Pradesh, Chhattisgarh, Goa, Gujarat, Karnataka, Kerala, Odisha, Tamil Nadu, Telangana, Arunachal Pradesh, Assam, Manipur, Mizoram, Nagaland, and Tripura.
Australia granted market access to Indian pomegranates in 2020, paving the way for Indian farmers to tap into a new and lucrative market. A work plan and Standard Operating Procedures (SOP) for the export of pomegranates to Australia were signed in February 2024, further streamlining the export process.
Union Minister of Commerce and Industry, Shri Piyush Goyal during his address at the 5th edition of ISA Steel Conclave on 5th August 2024 in New Delhi set a target of 500 mn tonnes of steel production by 2034.He urged the industry leaders to focus their energy on economies of scale through decarbonisation as green steel will be in more demand.
Bharat Tex 2025 is a global textiles event being organised by a consortium of Textile Export Promotion Councils (EPCs) and supported by the Ministry of Textiles. Scheduled to be held from February 14-17, 2025 BHARAT TEX 2025 is positioned as a global scale textile trade fair and knowledge platform.
