News on Indian Economy
According to the ‘The Indian Tech Unicorn Report 2021,’ India will have 46 unicorns (businesses valued at US$ 1 billion or more) in 2021, more than doubling the overall number to 90. ShareChat, Cred, Meesho, Nazara, Moglix, MPL, Grofers (now Blinkit), upGrad, Mamaearth, GlobalBees, Acko, Spinny, and other services are among them.
According to a survey by Credit Suisse, India is increasing market share in manufacturing exports, and its share of global merchandise exports has reached an all-time high.
The income tax department announced on Thursday that it has paid refunds totalling over Rs 1.54 lakh crore to over 1.59 million taxpayers this fiscal year.
The Minister said that the FTA with UK is expected to provide certainty, predictability and transparency and will create a more liberal, facilitative and competitive services regime.
The Prime Minister, Shri Narendra Modi inaugurated 11 new medical colleges and a new campus of Central Institute of Classical Tamil (CICT) in Tamil Nadu today through video conference. Union Minister Dr Mansukh Mandaviya, Dr L Murugan and Dr Bharati Pawar, Chief Minister Tamil Nadu Thiru M.K.Stalin were present on the occasion.
South Korea’s Trade Minister Yeo Han-Koo met with India’s Commerce and Industry Minister Piyush Goyal in New Delhi on Tuesday, setting a bilateral trade aim of $50 billion by 2030.
Even in comparison to the pre-pandemic year, 2019-20, textile sector exports (Textiles & Apparel including Handicrafts) climbed by 14.6% from April to December 2021 as compared to April to December 2019. Textiles saw a 31% increase in exports, Cotton Yarn/Fabrics/Made-ups, Handloom items, etc. saw a 43% increase, and Jute products saw a 33% increase from April to December 2021, compared to April to December 2019.
The Henley Passport Index (HPI) says the desi passport rose seven position to become the world’s 83rd most powerful document last year, up from 90th in 2020, when this number of countries was 58.
According to a quarterly employment survey issued on Monday by the labour ministry, total employment created by nine key industries stood at 3.10 crore in the July-September 2021 quarter, which is 2,00,000 more than the April-June period.
Now, researchers at the Indian Institute of Technology (IIT), Guwahati, have developed a novel improved natural draft charcoal retort (INDCR) to address the technological and capital investment challenges of Indian charcoal makers.
