News on Indian Economy
According to two sources aware with the latest proposal, India would pay auto companies ~ US$ 3.5 billion in incentives over a five-year period under a revamped scheme to encourage the production and export of clean technology vehicles.
The government’s various initiatives have resulted in rapid growth in the fintech industry, which is expected to triple in value to Rs. 6,20,700 crore (US$ 82.7 billion) by 2025, according to Minister of State for Finance Mr. Bhagwat K Karad.
According to sources aware of the development, Apple Inc. is producing 70% of the mobile phones it sells in the domestic market in India, as part of a significant push toward “Make in India.”
Tesla Power USA Inc., the Indian subsidiary of Tesla Power USA LLC., based in Florida, USA., has introduced its proprietary American technology-led, highly efficient lead-acid batteries to the market. The company also provides innovative solutions to corporate and bulk battery users in India. The company’s unique proposition for the maintenance and revival of all types of lead-acid batteries, using its proprietary Electrochemical Battery Enhancement Process (EBEP), not only saves huge costs but also saves the environment from hazardous pollution.
According to a study, employment activity in India has been steadily improving, with the hiring rate in July this year being approximately 65% higher than pre-Covid levels.
National Auminium Company Ltd (NALCO), a Navratna CPSE under the Ministry of Mines, has been playing a key role in empowering the Micro and Small Enterprises (MSEs) through providing a modern & innovative platform ‘NALCO Micro And Small enterprise Yogayog Application’ (NAMASYA), a bi-lingual App developed exclusively for the benefit of the Company’s MSE Vendors.
In the ongoing season of Kharif 2020-21, purchase of 889.62 LMTs of paddy (includes Kharif Crop 718.09 LMT and Rabi Crop 171.53 LMT) up to 05.09.2021 has been done against the last year corresponding purchase of 764.39 LMT.
Honeywell Hometown Solutions India Foundation (HHSIF), the philanthropic arm of multinational conglomerate Honeywell, said on Monday that it will spend Rs. 10 crore (US$ 1.36 million) in 50 institutions across the country to establish centres of excellence for skill development in collaboration with ICT Academy.
According to sources aware of the development, Apple Inc. is producing 70% of the mobile phones it sells in the domestic market in India, as part of a significant push toward “Make in India.”
Union Minister of State (Independent Charge) Science & Technology; Minister of State (Independent Charge) Earth Sciences; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh today inaugurated the latest upgraded state-of-the-art Doppler Weather Radar (DWR) & Indigenous GPS based Pilot Sonde at Indian Meteorological Office in Jammu, and said, like other parts of the country, Jammu has become a part of India’s giant scientific leaps under Prime Minister Narendra Modi.
