News on Indian Economy
India’s wearables market grew 118.2% YoY in the June 2021 quarter at 11.2 million units with robust shipments from homebased brands in earwear and watches propelling this growth, according to research firm IDC.
This transmission line corridor shall provide a strong connectivity between Northern Region (NR) and Western Region (WR) and facilitate reliable flow of power, benefitting the overall social and economic system, by enabling reliable flow of power to industries and households in Northern Region, Western Region and the entire country. With the commissioning of this link, the inter-regional power transfer capacity of national grid has enhanced by 4200 MW, taking the total capacity to 110750 MW in the country.
for strengthening of aviation infrastructure in the respective states. AAI has embarked upon development and expansion of airports in the country at a cost of Rs. 20,000 Crore in the next 4-5 years in order to meet the growing passenger demand in the country.
Infosys Ltd became the fourth Indian firm to reach a market capitalization (m-cap) of US$ 100 billion on Tuesday. The IT services company has joined the likes of TCS, Reliance Industries, and HDFC Bank in surpassing the US$ 100 billion market value threshold.
According to SBI’s research report Ecowrap, India’s gross domestic product (GDP) is anticipated to expand at about 18.5% in the first quarter of this fiscal year, lower than the RBI’s forecast of 21.4%.
According to property consultancy JLL, the capacity of the data centre sector is anticipated to double by 2023 to over 1,000 MW to satisfy growing demand amid rapid development in digitalisation.
“In 2020-21, India got the greatest amount of FDI it has ever received. It increased by 10% to US$ 81.72 billion, with FDI totaling US$ 12.1 billion in May 2021, which is 203% more than May 2020.” He mentioned this while speaking to a group of industrial groups about encouraging exports.
Union Minister of State for Commerce and Industry Ms. Anupriya Patel on Tuesday inaugurated the “India-ASEAN Engineering Partnership Summit” organised by Engineering Exports Promotion Council (EEPC) with the support from Ministry of External Affairs and Department of Commerce.The focus of today’s summit is on collaborations in engineering sector. The summit offers an important platform for engagement of Indian industry on India-ASEAN partnership in engineering trade and investments. This forum will also be instrumental in achieving the landmark export target set by the government both in terms of engineering as well as merchandise exports.
According to a statement released by Boeing on Monday, Mahindra Aerostructures has been granted a contract to produce intake outer barrel components and sub-assemblies for the B737 aircraft and ship them to Boeing’s facilities in the United States. The inlet duct of an aircraft engine regulates the flow of air before it enters the compressor.
Engineering goods exports from India hit an all-time high of US$ 9.14 billion in July, accounting for one-fourth of the country’s overall merchandise exports, thanks to robust demand from the United States, Europe, and the United Arab Emirates (UAE).
