India Positive - September 4, 2020
- September 4, 2020
PM inaugurates College and Administration Buildings of Rani Lakshmi Bai Central Agricultural University, Jhansi through video conferencing
PM congratulated everyone and expressed hope that students after graduating from this university will actively contribute to empowering the country’s agriculture sector. He hoped that new facilities provided due to the new building would encourage and motivate students to work harder.
IT Minister Ravi Shankar Prasad Launches “Chunauti”- Next Generation Start-up Challenge Contest
The “Chunauti”- Next Generation Start-up Challenge Contest is expected to further boost start-ups and software products with special focus on Tier-II towns of India. The government has earmarked a budget of Rs 95.03 crore (US$ 13.48 million) over a period of three years for this programme.
Boat Lifestyle eyes Rs 1,000 crore revenue in FY24
Boat Lifestyle, a consumer tech products maker, plans to double the top-line by FY24 to Rs 1,000 crore (US$ 141.86 million) on the back of strong demand for products like audio devices and accessories in the country. The company registered gross revenue of over Rs 500 crore (US$ 70.93 million) in FY2019-20.
RIL's retail arm to acquire Future Group's key businesses for Rs 24,713 crore
Reliance Retail Ventures Ltd. (RRVL) plans to acquire Future Group’s retail, wholesale, logistics and warehousing businesses. Under the agreement, Future Group will first merge certain companies carrying on the aforesaid businesses into Future Enterprises Limited (FEL).
Indian Micro-businesses Remain Resilient Amidst COVID-19 Economic Impact: GoDaddy’s 2020 Global Entrepreneurship Survey Finds
GoDaddy has released the 2020 Global Entrepreneurship Survey which finds micro-businesses in India are optimistic about the future of their very small business, amidst the COVID-19 pandemic. The overwhelming majority of Indian very small business owners surveyed (88 percent) believe that their business will grow in the next three to five years.
India's electronic exports can rise 16 fold to $180 billion by 2025
India is working to reduce electronic goods and component imports from China which accounted for a third of all imports from across the border. Industry wants government to expand policies like performance linked incentive scheme and phased manufacturing programme for the entire sector.
Indian Railway Solarises more than 960 Stations
Indian Railways has solarised more than 960 stations till date to achieve its objective of becoming 100% self-sustainable for all its power needs and to contribute to national solar power goals. Also, orders have been placed for 198 MW solar rooftop capacity for 550 stations which are under execution.
India aims to achieve 100 MT coal gasification target by 2030: Pralhad Joshi
India aims for 100 million tonnes (MT) coal gasification with investments worth over Rs. 4 lakh crores. Addressing a webinar on Coal Gasification and Liquefaction, Shri Pralhad Joshi, Union Minister of Coal and Mines said that Coal Gasification and Liquefaction is no more an aspiration, but a requirement. He added that for encouraging use of clean sources of fuel, government has provided for a concession of 20% on revenue share of coal used for gasification.
Mumbai adds highest data centre capacity in January-June: Report
Mumbai has witnessed highest data centre capacity addition in the first half of 2020, as it continues to be the preferred choice for large cloud players. The city also accounts for 62% of India’s total cloud capacity, followed by Pune and Chennai, showed a JLL India report. Mumbai continues to command premium for enterprise demand driven by its infrastructural benefits, followed by Hyderabad and Chennai.
PhonePe to digitize 25 Million small merchants across 5500 talukas in India
PhonePe, India’s leading digital payments platform will enable digital payments for over 25 million small merchants across India in the next one year. The company will also onboard these kiranas on its PhonePe for Business app, offering them end-to-end control of the payment process including instant payment confirmations, receipts and reconciliations.
Koppala to get India's first toy manufacturing cluster
To boost the India’s toy manufacturing industry and be in line with Vocal for Local campaign, Karnataka Chief Minister B S Yediyurappa announced the proposed toy cluster in Koppala in Karnataka. This will be the India's first toy manufacturing cluster and is expected to attract over Rs 5,000 crore in investments. The proposed toy cluster will have connectivity to NH-63 and Belagavi Airport.
India’s bicycle market on a fast track amid pandemic
The industry was growing at 5-7 per cent every year but because of the coronavirus pandemic, it is now expected to grow at 15-20 per cent, led by a surge in first-time users. Indian cycle industry is second largest in the world, followed by China. 22 million units are made in the country every year and the annual turnover is Rs 7,000 crore.
Another milestone for farm sector: Now, Kharif acreage at lifetime high; bumper harvest likely.
With a favourable monsoon this year, the agriculture sector has drawn the silver linings on the dark clouds of India’s severe economic stress. After a bumper rabi harvest, the acreage of the Kharif crops has skyrocketed to a lifetime high in the current year.
Prime Minister Delivers Special Keynote Address at the US-India 2020 Summit of US-ISPF
In his speech, Prime Minister Modi has stated that India is becoming a leading attraction for Foreign Investment. The country has received over 20 Billion Dollars of Foreign Investment this year as it continues to offer affordability of geography, reliability, and political stability. Talking about the way ahead the Prime Minister said that the country is focussing on ramping up capacities, securing the poor and future proofing our citizens.
India's apparel exports to register 40% growth in FY21: AEPC
Apparel Export Promotion Council (AEPC) Chairman A. Sakthivel, quoted that the apparel exports from the India is likely to expand by about 40 per cent in the current financial year. While addressing the 41st Annual General Meeting of the industry body, the Chairman further stated that the major focus this year will be on medical textiles, which will take the total apparel exports from $15.4 billion in last fiscal to about $22 billion in 2020-21.
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