News on Indian Economy
The Central Power Research Institute (CPRI) an autonomous Society under the Union Ministry of Power, has been granted the prestigious accreditation from National Accreditation Board for Certifying Bodies (NABCB) – for certification of electrical equipment as per ISO/IEC 17065.
EOS-02 is Technology demonstration satellite for various new technologies with applications that include agriculture, forestry, geology, hydrology, miniaturised power electronics, reaction wheels etc. and forming the payload for SSLV-1.
Last year, India came in second to the United States, which attracted US$ 51 billion in investment, followed by China, which received US$ 14 billion, and the United Kingdom, which received US$ 7 billion.
The worldwide energy shortage caused by Russia’s invasion of Ukraine is providing a much-needed boost to the world’s largest refining complex. Reliance Industries Ltd.’s Jamnagar refinery is increasing crude processing and delayed planned maintenance to take advantage of rising diesel demand. It is already shipping the fuel to Europe, and this will rise in the coming months.
She also added, “We see clear advantages in a central bank driven digital currency, because in this day and age, bulk payments happening between- countries, large transactions between institutions and large transactions between central banks themselves of each country- are all better enabled with digital currency,”.
The Indian government on Tuesday said it has decided to resume scheduled commercial international passenger services in the country from March 27 as part of the summer schedule 2022.
Reserve Bank of India (RBI) Governor Shaktikanta Das on Tuesday launched the country’s most famous unified payments interface (UPI) service for feature phones. Termed as UPI123PAY, the service will allow 40 crore feature phone users across India to access the payment service.
On the occasion of the International Women’s Day, Government eMarketplace [GeM] has launched a new service vertical “Stitching and Tailoring Services” on the GeM portal in partnership with USHA International Ltd., through its Silai School Programme. The service will open new opportunities for Usha Silai Women and self-help groups in urban and rural areas to enhance their livelihood incomes through sewing orders placed by various Government departments and agencies and fulfil the 3 percent procurement target set aside for women MSE entrepreneurs.
In the first ten months of FY22, India’s agricultural and processed food exports increased by more than 23% in dollar terms compared to the same period previous year. Agricultural and Processed Food Products Export Development Authority (APEDA) product exports grew from US$ 15,974 million in FY21 to US$ 19,709 million in FY22 till January.
According to Mr. Piyush Goyal, Minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution and Textiles, Government of India, Indian exports are likely to reach US$ 410 billion this fiscal year despite geopolitical disturbances. During April-February 2022, the country’s merchandise exports totalled US$ 374.05 billion, up 45.80% from US$ 256.55 billion the previous year. India’s service exports will cross US$ 250 billion.
