Manufacturing

GE Transportation (NYSE:GE) said the Indian Railways has confirmed its acceptance of GE’s 4,500-horsepower diesel-electric Evolution Series prototype locomotive.

The Cabinet Committee on Economic Affairs has approved 205.5-km line between Budni to Indore (Mangaliyagaon), estimated to cost Rs.3,261.82 crore.

The Defence Acquisition Council (DAC) has approved Rs.9,100 crore worth of equipment procurement for the Defence Forces.

Railway and Coal Minister Piyush Goyal has wished the Tourism Ministry will achieve its US$100 billion foreign tourist arrival receipts a year within the next five years.

The Indian government has taken a much-awaited decision to merge scam- and non-performing asset-hit pubic sector banks, which would be a trend, financial and banking sector observers hope.

The Indian steel sector faces multiple challenges such as transportation and logistics, weakening rupee and auctioning of mines after the current licenses expires in 2020.

India has set an ambitious defence export target of US$5 billion by 2025 to become one of the world's top five defence producers.

Though August exports have shown higher double digit growth with upward trend, rising trade deficit still remains a concern, says the Federation of Indian Export Organizations (FIEO) President Ganesh Kumar Gupta.

The Assam government is set to six a series of Memorandum of Understanding (MoUs) with South East Asian countries as well as South Korea and Taiwan.

The government is injecting competition in the power distribution sector through content and carriage reforms to make the supply of power consumer-friendly.