News on Indian Economy
Finance minister Nirmala Sitharaman on Wednesday said India is “very close” to arriving at the specifics of the two-pillar taxation proposition A total of 130 countries had in July agreed to a overhaul of global tax norms to ensure that multinationals pay taxes wherever they operate and at a minimum 15 per cent rate.
According to two industry officials, India’s wheat exports in 2021 could four-fold from a year ago to the highest level in eight years as a march in global prices and higher freight costs make Indian wheat lucrative for Asian buyers, reported by Reuters.
With the Indian soft loan, Nepal has constructed a 220 KV Double Circuit Koshi Corridor power transmission in eastern Nepal and handed over to Nepal Electricity Authority, a semi-autonomous body to oversee the power generation and distribution in Nepal. With the construction of the new strategic transmission line, Nepal can evacuate power up to 2000 mw, said officials, which will also ease power evacuation and distribution in eastern Nepal.
The Agricultural and Processed Food Products Export Development Authority (APEDA) facilitated exports of the first consignment of various value-added and nutri-rich products derived from Jackfruit, Passion fruit and Nutmeg (Jaiphal) sourced from farmers in Thrissur, Kerala, to Melbourne, Australia.
The increased flying time for Air India nonstop between Delhi and UK and Delhi and North America since Afghan airspace closed on August 16 is going to reduce significantly with the airline deciding to fly over the mighty Hindu Kush range for the first time. This new routing will see Boeing 777s and 787s soaring over Tirich Mir (7,780 metres), the world’s highest peak outside the Himalaya-Karakoram range.
The new 2-km-long bridge, linking the island of Rameswaram in the Arabian Sea to the mainland, will replace the existing 104-year-old structure. The bridge will have a 63-metre stretch, which will lift up vertically to allow passage to small ships. In the images shared by Mr Vaishnaw, we can see workers and machinery deployed at the site under a clear, blue sky.
Under the initiative, nearly 51,991 apprentices were hired and the event witnessed participation from more than 5000+ organisations, operating in more than 30 sectors such as Power, Retail, Telecom, IT/ITeS, Electronics, Automotive and more. Additionally, country’s aspiring youth received the opportunity to engage and select prospects from more than 500 trades (Designated and Optional) including posts for Welder, Electrician, Housekeeper, Beautician, Mechanic and more.
With a view to realise the vision of Hon’ble Prime Minister Shri Narendra Modi of building an Aatmanirbhar Bharat and to position India strongly on the Global textiles map, the Government has approved the setting up of 7 PM MITRA (पीएम मित्र) parks as announced in Union Budget for 2021-22.
The consignment of unique sweet dish Mihidana was exported to Bahrain by APEDA registered M/S DM Enterprises, Kolkata and imported by Aljazira Group, Bahrain. The sweet dish from West Bengal is being displayed (also provided for tasting purpose) to consumers at Aljazira super stores in Bahrain. More consignments of the unique sweet dish would be exported to Bahrain during forthcoming Diwali festival.
“Our overall organic and inorganic investments across the entire green energy value chain will range between $50-70 billion. This will include investments with potential partners for electrolyser manufacturing, backward integrations to secure the supply chain for our solar and wind generation businesses, and AI-based industrial cloud platforms,” Adani said while addressing participants virtually at the TiE Sustainability Summit being held in Hyderabad.
