India at Halfway Mark in Meeting the Export Target of $400 Billion
The country has almost reached the halfway mark (49.5 per cent) by the end of September 30, said Srikar K. Reddy, Joint Secretary, Union Ministry of Commerce and Industry.
Economy
News on Indian Economy
India’s Foreign Exchange Reserves Rise By $1.492 Billion To $641.008 Billion
According to the Reserve Bank of India’s (RBI) weekly statistical supplement, the reserves increased to $641.008 billion from $639.516 billion reported for the week ended 8 October.
India Hands Over Jaynagar-Kurtha Cross-Border Rail Link To Nepal
India on Friday handed over the 34.9km-long cross-border rail link connecting Jaynagar in Bihar to Kurtha in Nepal to the Nepal government, a move that is expected to enhance trade and commerce activities as well as people to people linkages between the two countries.
Strategic Sela Tunnel for Tawang to be Completed by Mid-2022
It’s an engineering marvel under way at an altitude of over 13,000-feet in icy cold weather to bolster all-weather connectivity and swifter military deployments to the critical Tawang and Kameng regions of Arunachal Pradesh along the China frontier.
All Indicators Pointing Towards Sharp Economic Recovery: Mr. Piyush Goyal
Union Commerce and Industry Minister Mr. Piyush Goyal stated that all indicators, including GDP, foreign direct investment (FDI) inflows and exports growth, are indicating towards a strong and sharp economic recovery in the country.
India’s Largest Green Hydrogen Plant to be Built by GAIL
State-owned GAIL (India) Ltd will build India’s largest green hydrogen-making plant as it looks to supplement its natural gas business with carbon-free fuel.
Cabinet Approval Sets the Implementation of PM Gati Shakti National Master Plan (NMP) in Motion
Hon’ble Prime Minister launched PM GatiShakti NMP for multi-modal connectivity on 13th October, 2021. Implementation framework includes Empowered Group of Secretaries (EGOS), Network Planning Group (NPG) and Technical Support Unit (TSU) with required technical competencies.
India to See Higher Salaries at 9.3% Increase in 2022, Up from 8% in 2021: Willis Towers Watson Survey
India Inc salaries are anticipated to see a median salary rise of 9.3% in 2022 – rendering to an average salary rise of 8.8% — as compared to the actual median salary rise of 8% (average salary rise of 7.4%) in 2021, according to the latest Salary Budget Planning Report by Willis Towers Watson.
India is Exporting Strictly Non GMO Rice to World
As reported in the same news item this could be the conspiracy to malign the image of India as a reliable suppliers of quality rice to the world. The experts in India both from Genetic Engineering Appraisal Committee (GEAC) and Agricultural experts from IARI and other rice experts in India are however, investigating the matter but re-confirming that commercial GM variety of rice is not grown in India.
Indian Travel Market to Cross $125 Billion by FY27, Says Report
According to a report titled ‘Travel market in India,’ published by RedCore – RedSeer’s unit which focuses on early stage companies, the travel market in India, which was worth about US$ 75 billion in FY20, is projected to cross US$ 125 billion by FY27.