News on Indian Economy
According to Agriculture Minister Mr. Narendra Singh Tomar, India is the world’s fourth-largest producer of agrochemicals, and the industry has a tremendous potential for development with the help of research, innovation, and a quick registration procedure.
Carbon Clean’s technology, consisting of a modular carbon capture skid, has been installed at Tata Steel’s Jamshedpur steel plant in India. The facility is capturing 5 t/d of CO2 from the blast furnace. The captured CO2 is reused onsite for a variety of applications such as for water treatment. Tata Steel plans that scaled-up facilities in the future will be able to use captured CO2 to produce methanol and other value-added products.
India and the UK are likely to announce a joint declaration on “one sun, one world, one grid” — or OSOWOG, a concept New Delhi has been pushing through its International Solar Alliance — at the upcoming COP26.
Union Minister for Agriculture and Farmers’ Welfare Shri Narendra Singh Tomar launched ‘Amul Honey- a product of Gujarat Cooperative Milk Marketing Federation Ltd. (GCMMF)’ under active cooperation with ‘National Bee Board (NBB)’ today virtually in the presence of Union Minister for Animal Husbandry, Fisheries and Dairying Shri Parshottam Rupala. Addressing the launching event, Shri Tomar emphasized the importance of National Beekeeping and Honey Mission in increasing the income of small farmers, which is being implemented in the country for doubling income of farmers/beekeepers through beekeeping with the budgetary allocation of Rs. 500 crores.
The Gem and Jewellery Export Promotion Council (GJEPC) announced that gem and jewellery exports hit a new high of Rs. 24,239.81 crore (US$ 3.26 billion) in August, thanks to robust demand for the upcoming festive season and the easing of entry restrictions.
New online system of MSME/Udyam Registration launched by Union MSME Ministry, w.e.f. 1st July, 2020, has stood the test of Time and Technology as more than 50 lakh MSMEs have successfully registered themselves by now. These include over 47 lakh Micro organisations and 2.7 lakh Small Units.
A new direct rail line from Bogura to Sirajganj in Bangladesh will be developed under a government of India Line of Credit (LoC). As a first step towards this an agreement between Bangladesh Railway and a joint venture company of India was signed on Monday, 27 September in Dhaka.
The Prime Minister, Shri Narendra Modi dedicated to the Nation 35 crop varieties with special traits through video conference. The Prime Minister also dedicated to the nation the newly constructed campus of National Institute of Biotic Stress Management Raipur. On the occasion, the Prime Minister also distributed the Green Campus Award to Agricultural Universities. He interacted with farmers who use innovative methods and address the gathering.
Unicommerce, an e-commerce-focused supply chain software-as-a-service platform, claims to handle over 1 million daily transactions with a gross merchandise value (GMV) of more than US$ 5 billion each year.
The Indian government is pulling out all the stops to achieve renewable energy (RE) capacity of 150 gigawatts (GW) by 2 October, said two people aware of the development, seeking anonymity.
