A New Era of Energy Cooperation: India and Nepal Inaugurate Transmission Lines
In a landmark agreement that marks a new era in the energy sector of South Asia, Nepal and India have formalized a significant power trade agreement. Under this accord, Nepal will export 10,000 megawatts (MW) of hydroelectricity to India over the next decade. This agreement not only underscores the strengthening ties between the two neighboring […]
Insolvency Proceedings in Crisis: Understanding the Impact of Extended Timelines
As of September 2023, the insolvency resolution process under the Insolvency and Bankruptcy Code (IBC) has faced significant delays, with timelines stretching far beyond the prescribed limits. This has led to a decrease in the asset value of companies undergoing the resolution process. Since the implementation of the IBC in December 2016, creditors have realized […]
Intelligent Transport Systems: Experts See Hope for Safer, Smoother Roads
In recent developments, India is taking significant steps towards implementing Intelligent Transport Systems (ITS) to enhance road safety and manage traffic more efficiently. Experts in the field are advocating for the swift adoption of ITS, recognizing its potential to significantly reduce the high incidence of road accidents and ease traffic congestion. One of the notable […]
Cheers to Indian Exports! Alcoholic Beverages to Cross $1 Billion Mark in Boom Years Ahead
India’s alcoholic beverage exports are poised to cross the USD 1 billion threshold in the next few years, marking a significant milestone in the country’s economic expansion in this sector. This projection reflects the burgeoning demand for Indian spirits in global markets. In the fiscal year 2022-23, India’s exports in this sector reached USD 325 […]
Navigating Post-Pandemic Finance: EPFO Retires Covid Advance Option
The Employees’ Provident Fund Organisation (EPFO) has reportedly terminated the Covid advance facility, which was a special fund withdrawal option for subscribers. This facility allowed EPFO members to withdraw part of their retirement savings as a Covid advance. The decision to discontinue this facility comes about seven months after the World Health Organization declared an […]
Connecting the Himalayas: Massive Investment in Ladakh Infrastructure with Rs 1,170 Crore Push
In a significant move to enhance road connectivity and infrastructural development in Ladakh, Union Minister for Road Transport and Highways Shri Nitin Gadkari has announced the sanctioning of Rs 1,170.16 crore for the construction of 29 road projects in the Union Territory. This substantial allocation encompasses the development of state highways, major, and other district […]
Ayodhya’s Awakening: Temple Inauguration to Fuel Rs 50,000 Crore Business Bonanza
In a remarkable fusion of spirituality and commerce, the consecration of the Ram Temple in Ayodhya, scheduled from January 21 to 23, 2024, is poised to not only mark a historic religious event but also catalyze a significant economic upsurge. The event is anticipated to generate a staggering Rs 50,000 crore in trade, as per […]
Beyond Roti: PLI Attracts 30 Companies to Innovate with Millet-Based Products
India has witnessed a significant development in the food processing industry with around 30 companies, including 22 micro, small, and medium enterprises (MSMEs), actively participating in the Production-Linked Incentive (PLI) scheme for manufacturing millet-based products. This initiative is spearheaded by the Ministry of Food Processing Industries. The PLI for Millet Based Products (PLISMBP) scheme, approved […]
A Thank You from FM: Kotak’s Plan Sparks Debate on India’s Economic Trajectory
Veteran banker Uday Kotak, Founder and Director of Kotak Mahindra Bank, has ignited the national imagination with a bold proposal: propelling India’s GDP to a staggering $30 trillion by 2047, coinciding with the centenary of its independence. This ambitious vision, outlined in a recent social media post, has garnered considerable attention and even a warm […]
Boom in Mineral Block Auctions: Government Records 76 Deals This Year
In a significant development in the mineral sector, the Indian government announced that a total of 76 mineral blocks have been auctioned in the year 2023. This count includes 30 mineral blocks that were specifically auctioned for mining leases, while the remaining 46 blocks were sold as composite licenses. A mining lease is a type […]