News on Indian Economy
India’s Sugar Exports witnessed an astounding growth of 291% from USD 1,177 million in FY 2013-14 to USD 4600 million in FY 2021-22. As per DGCI&S data, India exported sugar to 121 countries across the globe.
The Ministry of Commerce and Industry announced that the road transport ministry had finished 1,41,190 kilometres of national highways as of March 31 this year, out of a target of 2 lakh kilometres for 2024-25
In March 2022, India’s exports increased 19.76% to US$ 42.22 billion, thanks to strong growth in sectors like petroleum products, engineering, and leather, while imports increased by 24.21% to US$ 60.74 billion, meaning the trade deficit during the month widened to US$ 18.51 billion. This was the first time that India’s monthly merchandise exports exceeded US$ 40 billion.
Country’s first-ever radio channel for the visually impaired, named ‘Radio Aksh’ has been launched in Nagpur, with the Blind Relief Association Nagpur and Samdrushti Kshamata Vikas Avam Anusandhan Mandal (Saksham) serving as the pioneers of the concept that will help the visually-impaired gain seamless access to education resources and audiobooks.
The Border Roads Organisation will construct the world’s highest tunnel at Shinku La Pass at 16,580 feet to connect Himachal Pradesh to Ladakh, BRO Director General Lieutenant General Rajeev Chaudhary said here on Saturday.
India is setting up a first-of-its-kind standalone renewable battery power bank envisaging an investment of Rs 2,000 crore to make green energy available on tap for discoms and grid operators during peak demand, but spike in prices of lithium — a key ingredient for making batteries — and supply chain disruptions due to the Russia-Ukraine conflict may weigh on industry response.
A World Food Program-backed initiative to deliver millet seeds to vulnerable people is taking root in Odisha, India, where it is helping to ward off hunger and improve livelihoods.
Egypt imported wheat worth about USD 1.8 billion from Russia and USD 610.8 million from Ukraine in 2020. The African nation is looking to import 1 million tonne of wheat from India and would need 2,40,000 tonne in April.
India and the 27-nation European Union (EU) will restart negotiations for their long-pending free trade agreement from June, a top official said on Wednesday. Commerce Secretary BVR Subrahmanyam said the EU team would visit India for talks immediately after the ministerial meeting of the World Trade Organisation (WTO), which is scheduled from June 12-15.
The Prime Minister expressed pride in the fact that many of the Prime Ministers came from ordinary families. Fact of such leaders coming from extremely poor, farmer families reaching the position of the Prime Minister strengthens the faith in Indian democracy and its traditions, he said.
