South Korea Signs Free Trade Agreement with CC
The Gulf Cooperation Council (GCC) recently made a significant advancement in its trade relations by finalizing a free trade agreement (FTA) with South Korea. This move is part of the GCC’s ongoing efforts to diversify its economy and enhance its global trade connections. The agreement, which has been under negotiation since 2007, experienced a hiatus […]
Centre Reports INR 95,000 Cr Investments Drawn by PLI Schemes by September 2023
As of September 2023, India’s ambitious Production-Linked Incentive (PLI) schemes have successfully attracted a staggering investment of over Rs 95,000 crore. This initiative, encompassing 14 key sectors, was first announced in the Union Budget of 2021-22 and has since seen a total of 746 applications approved by November 2023. The targeted sectors include electronics, telecommunications, […]
Intel’s $25 Billion Chip Plant Project Receives $3.2 Billion Grant from Israel Amid Conflict
In a significant move for the technology industry, Israel’s government has agreed to grant Intel a sum of $3.2 billion to establish a new $25 billion chip plant in southern Israel. This decision marks the largest investment by a company in Israel’s history. Intel has been a significant presence in Israel since 1974 and currently […]
AIIB Leads the Way with INR 2.5k Crore Funding for Mahindra-OTPP’s Green InvIT
The Asian Infrastructure Investment Bank (AIIB) has emerged as a leading financier in a significant investment initiative for Mahindra OTTP’s Green Infrastructure Investment Trust (InvIT). The AIIB’s investment amounts to a substantial Rs 2,500 crore, marking a pivotal moment in the development of sustainable infrastructure within India. This investment is particularly focused on Mahindra Susten, […]
Rajasthan Transmission Project Now Under Tata Power’s Wing
Tata Power, one of India’s leading integrated power companies, has recently marked a significant milestone in the renewable energy sector by securing the Bikaner-III Neemrana-II Transmission Project in Rajasthan. This achievement follows their successful bid in the Tariff-Based Competitive Bidding (TBCB) process, as outlined by the guidelines of the Union Ministry of Power. The project, […]
RBI Greenlights ICICI Pru Mutual Fund’s Stake Acquisition in Three Banks
In a significant move, the Reserve Bank of India (RBI) has granted approval to ICICI Prudential Asset Management Company Limited (ICICI Pru AMC) and ICICI Prudential Life Insurance Company Limited (I-PruLife) to acquire stakes in three private sector banks: Federal Bank, RBL Bank, and IDFC FIRST Bank. The regulatory nod allows these entities to acquire […]
Government Plans to Sell FCI Rice Under New ‘Bharat’ Brand
In response to the escalating food inflation in India, the government is considering introducing ‘Bharat Rice’ under the Food Corporation of India (FCI) at a discounted rate. This initiative follows the successful implementation of discounted prices for ‘Bharat atta’ (wheat flour) and ‘Bharat dal’ (pulses). Key Points of the Initiative: Discounted Pricing: The proposed ‘Bharat […]
India-ASEAN Trade Agreement Set for Modernization Review in February
India and the ten-member Association of Southeast Asian Nations (ASEAN) are set to commence crucial negotiations in February with the goal of modernizing their decade-and-a-half-old Free Trade Agreement (FTA). This move comes as part of a broader effort to address the significant trade imbalance currently existing between India and ASEAN countries. The ASEAN India Trade […]
India Predicted to Rise as Third-Largest Economy by 2032, CEBR Reports
According to the Centre for Economics and Business Research (CEBR), India is on track to become the world’s third-largest economy by 2032, eventually emerging as the largest economic superpower by the end of the century. This forecast is part of the CEBR’s latest World Economic League Table report. The report highlights several factors contributing to […]
A New Era in India-UAE Relations: First Oil Transaction in Rupees
The historic transaction between India and the United Arab Emirates (UAE) involving the first-ever rupee payment for the purchase of crude oil represents a significant shift in international trade dynamics, particularly in the context of India’s economic strategies and global trade relations. Here’s a more detailed exploration of this event: Background and Context Bilateral Trade […]