India’s Exports Rise by 37.57% to $9.32 Billion in 1st Week of 2022-23
India’s exports surged to USD 9.32 billion in the first week of this month, posting year-on-year growth of 37.57 per cent, the government data showed on Friday.
Economy
News on Indian Economy
Indian Banana & Baby Corn Get Market Access in Canada
The negotiations between National Plant Protection Organisations of India and Canada on market access for Indian Banana and Baby corn resulted in Canadian market access for these commodities.
First India-Made Dornier 228 Aircraft Delivered to Alliance Air
The first India-made Dornier 228 aircraft was delivered to Alliance Air on Thursday. The aircraft can carry up to seventeen passengers and is capable of running day and night operations.
Asia-Pacifics First-Ever Offshore Wind Energy Test Facility to Come Up in India
Funded by the Government of India, this project is expected to come up in two years and will involve the setting up of two wind turbines of over 8MW (megawatt) capacity, in order to perform studies and collect data on the feasibility of large-scale projects of this kind.
Chinese Hackers Target Ladakhs Power Grid; Bid Foiled, Says Govt
Reacting to media reports claiming a cyberattack on the power grid near Ladakh between August and March, Singh said, “Two attempts by Chinese hackers were made to target electricity distribution centres near Ladakh but were not successful…”
Government Gives Nod to 5 New Sites for N-Power Plants
In a written reply to a question raised in the Lok Sabha, the minister said the government has accorded administrative approval and financial sanction for construction of 10 indigenous 700MW PHWRs to be set up in fleet mode. He said on progressive completion of the projects under construction and accorded sanction, the nuclear capacity is expected to reach 22,480MW by 2031.
India’s Agriculture Exports Touch A Historic High of US$ 50 Billion
Agricultural exports increased by 19.92% to US$50.21 billion in 2021-22, according to preliminary estimates issued by DGCIS. The growth rate is impressive because it exceeds the 17.66% growth rate of US$ 41.87 billion obtained in 2020-21.
India, Australia Should Look at $ 100 Billion Bilateral Trade by 2030: Goyal
Mr. Piyush Goyal, Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, stated that India and Australia should work towards increasing bilateral trade to US$ 100 billion by 2030, up from the current level of around US$ 27.5 billion.
India Sends Over 270,000 MT of Petrol, Diesel to Sri Lanka Under Credit Line
India has sent about 270,000 MT of petrol and diesel to Sri Lanka to help alleviate the country’s power crisis, which is occurring in the midst of the country’s worst economic crisis in decades. Last week, the High Commissioner of India handed over a shipment of 40,000 MT of diesel to Sri Lanka’s Energy Minister Mr. Gamini Lokuge, with the help of an Indian line of credit worth US$ 500 million.
India Overshoots Export Target; Achieves USD 417.8 Billion Exports in 2021-22
Merchandise exports from India have reached USD 417.8 billion in the current financial year. This figure excludes the figures from non-EDI Ports and adding that, it is likely to exceed $418 billion, an all-time high in India’s export history.