Union Minister of Commerce & Industry, Shri Piyush Goyal, has expressed unwavering confidence in the Indian auto component sector’s ability to achieve a staggering $100 billion export target by 2030. This ambitious goal positions the sector as a key driver of job creation in the country. The Minister made this statement during the 64th Annual …
India, the world’s third-largest emitter, faces a daunting challenge in achieving its net-zero ambitions by mid-century. A recent report by BloombergNEF (BNEF) underscores the urgency of this task, highlighting the need for a drastic reduction in emissions from the country’s high-polluting power industry by 2026. However, the government’s continued reliance on coal, a major contributor …
Indian Railways continues to demonstrate its pivotal role in the nation’s economy, achieving remarkable freight loading statistics for August 2024. The Railway Board announced that a total of 126.97 million tonnes (MT) of freight was loaded in August alone, contributing to a cumulative total of 653.22 MT for the financial year 2024-25. This impressive performance …
The Indian government has implemented a significant policy change, permitting sugar mills to utilise a wider range of sugar derivatives for ethanol production. This shift announced in a notification on August 29, 2024, is designed to bolster ethanol output and reduce reliance on fossil fuels. Effective November 1, 2024, sugar mills will be allowed to …
The World Bank increased its growth forecast for India to 7% for the current financial year, up from the previous estimate of 6.6%. This upgrade is attributed to increased government spending on infrastructure. According to the World Bank’s India Development Update report, the growth was driven by investments in public infrastructure and a rise in …
The Indian life insurance sector witnessed a surge in July, with the total annualised premium equivalent (APE) experiencing a substantial 16.9% year-on-year increase. This growth was primarily fueled by the private sector, demonstrating a remarkable 18% rise in APE. Life Insurance Corporation of India (LIC), the country’s largest insurer, recorded a more moderate growth of …
The Reserve Bank of India (RBI) has taken a significant step to encourage wider foreign participation in India’s sovereign green bonds (SGrBs). The central bank has introduced a new scheme that allows foreign investors in the International Financial Services Centre (IFSC) to invest directly in these environmentally-friendly securities. SGrBs, issued by the Indian government, are …
The Reserve Bank of India (RBI) has announced the launch of a new Unified Lending Interface (ULI) on the same public digital infrastructure that supports the innovative UPI services. This platform enables a seamless and consent-based flow of digital information from multiple data service providers to lenders, aiming to reduce the turnaround time for assessing …
On August 28, 2024, the Union Cabinet approved a significant equity support of ₹4,136 crore to the North Eastern states to develop hydropower projects. This initiative aims to boost the region’s renewable energy capacity by adding a total of 15,000 MW over the next 8 years. The cabinet gave its green light to a power …
India’s market regulator, SEBI (Securities and Exchange Board of India), has raised concerns about suspicious practices in the SME (small and medium enterprises) market. They have warned investors that some SMEs are making unrealistic claims about their performance after going public. SEBI observed that these companies or their promoters often make overly optimistic announcements about …
