India Working on Free Trade Agreements with Israel, Middle East Nations
India is working on at least six free trade agreements, including one with the United Arab Emirates that can create a gateway for Indian trade to the Middle East and Africa.
Economy
News on Indian Economy
Indian Railways to Introduce New Measures for Female Travelers
According to the ministry, six berths will be reserved in the sleeper class of long-distance Mail/Express trains and a reservation quota of six berths in third-tier AC (3AC) coaches of Garib Rath/Rajdhani/Duronto/fully air-conditioned Express trains have been allocated for female passengers, irrespective of their age, travelling alone or in a group.
India, Taiwan in Talks on Semiconductor Hub, Free Trade and Investment Pacts
India and Taiwan have begun talks on a free trade pact and creating a semiconductor manufacturing hub in the country as part of efforts to meet the burgeoning demand for the chips needed for products ranging from cellphones to cars.
Modi Govt to Revamp Century-Old Telecom Laws that Throttle India’s Digital Dream
The government is exploring ways to allow companies to merge, expand and operate without multiple bureaucratic approvals so as to avoid subsequent court battles, Telecommunications Minister Ashwini Vaishnaw said in an interview at his office in New Delhi on Thursday. He aims to present new rules in February.
India’s Rice Exports Rose by Over 33% to 11.79 MT in First Seven Months of Current FY, Likely to Surpass Last FY’s Record Over 17MT
India’s rice exports in FY22 is likely to exceed the record of 17.72 million tonne (MT) achieved in FY21 on the back of a 33% YoY jump in exports to 11.79 MT between April-October 2021. In terms of value realization, India’s rice exports increased 38% YoY to US$ 8,815 million in FY21. In Rupees terms, India’s rice exports increased by 44% YoY to Rs 65,298 crore in FY21.
India’s Apr-Oct Iron Ore Production at 143 MT; Set to Surpass FY’20 Record
India’s iron ore output increased to 143 million tonnes (MT) in the first seven months of the current fiscal year, surpassing the previous high of 246 MT established in 2019-20, according to Mines Secretary Alok Tandon.
Installed Nuclear Power Capacity Grew by Over 40% in last 7 Years: Govt
“India is following an indigenous three-stage nuclear power programme to provide long-term energy security in a sustainable manner,” stated Dr. Jitendra Singh, Minister of State in the Department of Space and Department of Atomic Energy.
India has Added Nearly 40 Unicorns in Last 50 Weeks in the Startup World: Shri Ajay Sawhney, Secretary, MeitY
He also mentioned that India’s software exports increased to Rs 5,00,000 crore today compared to Rs 51 crore in 1987, representing a 35% annual growth for the last 30 years.
Cabinet Approves an Incentive Scheme for Promotion of RuPay Debit Cards and Low-Value BHIM-UPI Transactions (P2M)
The Union Cabinet, led by Prime Minister Mr. Narendra Modi, authorised an incentive programme to promote RuPayDebit cards and low-value (upto Rs. 2,000 [US$ 26.17]) BHIM-UPI transactions (Person-to-Merchant (P2M)] BHIM-UPI transactions across India.
Diagnostic Industry may Log 55% Revenue Growth in FY22, Says Report
Strong growth in revenue and operating margin during first half of the year boosted by pandemic, may help national level diagnostic firms to logout FY 2021-22 with around 55% revenue growth and 800 basis point increase in operating margins, as per a report.