Manufacturing

The Government is stepping up engagement with EU, US, and UK to secure markets for Indian exports even as it withdrew from the Regional Comprehensive Economic Partnership, Commerce and Industry Minister Piyush Goyal has assured delegates at Export Summit 2019.

As one of the leading importers of defense equipment and facing war threats from China and Pakistan on its borders, India’s defence expenditure is projected to increase to US$104 billion in 2024 from US$68.4 billion in 2020.

The Coal Ministry has decided to establish a ‘Sustainable Development Cell’ (SDC) to promote environmentally sustainable mining in the country and address environmental concerns during the decommissioning or closure of mines.

The Coal Ministry has allotted two Coking Coal mines, Rohne and Rabodih, in Jharkhand to the Steel Central Public Sector Enterprises (CPSE’s).

Indian oil marketing companies have guaranteed buying energy from the 5,000 compressed biogas plants (CBG) being built across the country, Petroleum and Natural Gas Minister Dharmendra Pradhan has assured.

The Government is planning to invest around Rs.100 lakhs crore in logistics infrastructure in the next 5 years, Minister of State for Commerce and Industry Som Parkash said.

Domestic and global factors have led to the marginal 0.34% decline in November exports, noted FIEO President Sharad Kumar Saraf. November exports totalled US$25.98 billion.

Los Angeles’ Flowerkist Incorporated has entered into a proprietary agreement with Delhi-headquartered Dabur Research Foundation (DRF) to develop and launch a wide range of 100% hemp-based CBD infused topical products with its patent-pending “Rapid Penetration Technology™”.

A New Shipbuilding Financial Assistance policy has been in place since 9 Dec 2015 for assisting Indian shipyards’ shipbuilding contracts signed during 2016-2026, parliament was told on 12 Dec 2019.

Indian technical textile market is estimated to cross Rs.2 lakh crores by the year 2020-21 as its use become mandatory in many formats, Minister of Textiles, Smriti Zubin Irani, told Rajya Sabha on 12 Dec 2019.