Industry Sectors

The Indian agriculture-technology is growing at a rate of 25% year on year and the start-up ecosystem is playing a critical role, bringing innovation and disruption in much-needed areas.

The Confederation of Indian Industry (CII) has shared Pre-Budget Memorandum recommendations focusing on providing impetus to Consumption and Investment with Ajay Bhushan Pandey, Finance Ministry’s Revenue Secretary.

The government is committed to promoting the use of additional farm machinery in the coming years to achieve improvement in awareness about diverse utilization of mechanization and credit support so that access to latest technologies is not a constraint.

A Consultative Committee of Parliamentarians were briefed about the high importance accorded by the Government to gas-based economy and Biofuels, setting the pace for them to deliberate on the two topics.

The Indian industries have been surprised by the Reserve Bank of India’s decision not to further cut repo rate at its MPC meeting on 5 Dec 2019, many pointing out the weakening economy.

CSIR and BHEL have signed an MoU to cooperate, collaborate and pursue industrial application-oriented research programmes and its commercialization in large scale.

The Rapaport Group, which supports over 20,000 clients in 121 countries, is organizing 2020 Trade Mission to Surat, home to an estimated 500,000 diamond cutters who manufacture over 90% of the world’s polished diamonds.

Wipro Limited has launched of its NextGen Cyber Defence Centre (CDC) in Melbourne, planning similar CDCs in other Australian cities to offer cyber resilience and provide digital protection to large government organizations.

The Ministry of Micro, Small and Medium Enterprises will raise GST related issues faced by the sector with the Finance Minister to provide some relief to the small companies.

The Monetary Policy Committee (MPC) at its meeting on 5 December 2019 decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 5.15%.