August 03, 2020
Every day we compile the latest news on the Indian economy to keep you abreast and updated on the current state of commercial affairs. So that Indian economy news stays fresh and crisp as your daily newspaper, with inputs from the best resources. Our compilations bring business news reports that are relevant today and tomorrow, giving vital inputs on the various sectors of the Indian Industry and trade. The news gathered from across the financial and political hubs of India so that you know the shape of things to come in the Indian economy.
The Unified Payments Interface (UPI) recorded the highest volume in July with 1.49 billion transactions.
The Group of Ministers (GoM) agreed to the proposal of the Ministry of Health and Family Welfare allowing the export of made-in-India ventilators, as case fatality rate decreases in the country.
Minister for Micro, Small and Medium Enterprises (MSME), Mr Nitin Gadkari approved a unique employment generation program proposed by Khadi and Village Industries Commission (KVIC) to make India Aatmanirbhar in Agarbatti production.
Mr Sanjay Dhotre, Minister of State for Human Resource Development, Electronics, Communication, and IT, inaugurated Bharat Air Fibre Services at Akola in Maharashtra.
Applications by Taiwanese giants Foxconn, Wistron and Pegatron, which are contract manufacturers for Apple and other electronic makers such as Xiaomi, along with Samsung and other homegrown companies such as Lava, Dixon Electronics, Karbonn, Optiemus Infracom, and Micromax have been submitted under the Government’s ambitious Rs 41,000 crore (US$ 5.82 billion) production linked incentive schemes (PLI) for mobile manufacturing in India.
Tata Capital Growth Fund plans to invest Rs 225 crore (US$ 30 million) in Biocon Biologics India to acquire 0.85 per cent equity stake in the company.