FM Nirmala Sitharaman begins her briefingÂ
New Delhi/IBNS: Indian Finance Minister Nirmala Sitharaman has started briefing the nation about the details of the Rs. 20 lakh crore economic stimulus package announced by Prime Minister Narendra Modi during his 33-minute address to the nation last night.
New Delhi/IBNS: India enjoys 18 per cent share in Tanzanian imports and 14 per cent share in Tanzanian exports, said Sanjiv Kohli, High Commissioner to Tanzania, in an interactive webinar on 'India-Tanzania Business Promotion, Challenges and Opportunities – Post COVID19'.
India signs $1.5 billion loan with ADB to support India’s COVID-19 immediate response
New Delhi/IBNS: The Government of India and the Asian Development Bank (ADB) today signed a $1.5 billion loan that will support the government’s response to the novel coronavirus disease (COVID-19) pandemic, focusing on immediate priorities such as disease containment and prevention, as well as social protection for the poor and economically vulnerable sections of the society, especially women and disadvantaged groups.
New Delhi/IBNS: Union minister Nitin Gadkari has said Indian manufacturers can take advantage of the current anti-Chinese sentiments by manufacturing items for which India is largely dependent on Chinese imports, media reports said.
New Delhi/IBNS: The Government of India has reviewed the extant Foreign Direct Investment(FDI) policy for curbing opportunistic takeovers/acquisitions of Indian companies due to the current COVID-19 pandemic and amended para 3.1.1 of extant FDI policy as contained in Consolidated FDI Policy, 2017.
Sugar prodcution in India drops as of April this year compared to same period last year
New Delhi/IBNS: Sugar mills across India have produced 247.80 lakh tonnes of sugar as of April 15, 2020, which is nearly 64 lakh tonne less compared to 311.75 lakh tonnes produced at the same time last year, according to a press release by Indian Sugar Mills Association (ISMA), a group consisting of stakeholders of the country's sugar industry.
Raghuram Rajan ready to help India as country stares at post-COVID-19 economic crisis
New Delhi/IBNS: Days after giving suggestions to the Narendra Modi government on how to tackle the post-Coronavirus economic situation, former Reserve Bank of India (RBI) governor Raghuram Rajan said he was ready to help India as the vast country of 1.3 billion people is staring at a financial crisis once the threat of COVID-19 retreats.
Godrej Material Handling launches the new Bravo Electric Three-Wheel Forklift
Mumbai/IBNS: Godrej Material Handling (GMH), a business unit of Godrej & Boyce Mfg. Co. Ltd, has announced its foray into the 3-wheel electric forklift truck segment.
India's growth to slow to 4 percent in FY2020, recover to 6.2% in FY2021
Manila/IBNS: The Asian Development Bank (ADB) projects India’s gross domestic product (GDP) will slow to 4.0% in fiscal year (FY) 2020 ending on 31 March 2021 due to a weak global environment and continued efforts to contain the novel coronavirus (COVID-19) outbreak in the country. The forecast assumes that the pandemic dissipates and full economic activity resumes from the second quarter of FY2020.
Rome/Kolkata: Several companies from Italy – one of the nations worst-hit by the Covid 19 pandemic and a resulting dismal economy – are looking forward to furthering their business with India when life returns to a normal pace, according to Italy-based ArtValley, which hosts projects and international forums for the promotion of specific cultural and geo-political initiatives.
COVID-19 impact: Recession to hit developing nations, may spare India and China, says UN report
New York/IBNS: The world economy will go into recession this year with a predicted loss of global income in the trillions of dollars, causing serious trouble for developing countries, with the likely exception of China and the possible exception of India, as per a UN trade report released on Monday.
Indian financial year not being extended: Indian Government
New Delhi/IBNS: Refuting media reports, the Ministry of Finance has said India's financial year has not been extended till June this year when the nation is fighting against the COVID19 outbreak.
Kolkata/IBNS: The Union Government has already identified the list of jobs and services deemed "essential" and, therefore, these are not required to be in lockdown for the next few weeks.
MG Motor India announces donation of Rs. 2 crore towards medical aid
New Delhi/IBNS: MG Motor India on Tuesday announced a donation of Rs. 2 crore for the government hospitals and health institutions providing medical assistance in Gurugram and Halol (Vadodara), where the carmaker’s facilities are located – to ensure the health and well-being of the medical staff and underprivileged sections of society.
DBS Foundation calls for 2020 Social Enterprise Grants submissions, winners to get SGD 250,000 each
Mumbai/IBNS: With the Covid-19 or novel coronavirus playing havoc with economy, social enterprises can take heart from DBS Foundation's calls for the Social Enterprise Grant submissions for the 2020 cycle.