Business & Economy Current Affairs

36th edition of the India International Trade Fair inaugurated today

36th edition of the India International Trade Fair inaugurated today

The annual flagship event of India Trade Promotion Organisation (ITPO), the 36th India International Trade Fair (November 14-27, 2016) was inaugurated by the President of India, Shri Pranab Mukherjee today at Hamsadhwani Theatre, Pragati Maidan, New Delhi. This year, as many as 7000 participants are taking part in the fair. The ‘Partner Country’ is the ‘South Korea’ and the ‘Focus Country’ is ...

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Civil Aviation Ministry’s Regional Connectivity scheme ‘UDAN’ launched today

Civil Aviation Ministry’s Regional Connectivity scheme 'UDAN' launched

The Ministry of Civil Aviation took a major step today towards making flying a reality for the small town common man. The Civil Aviation Minister, Shri P Ashok Gajapathi Raju launched the Ministry’s much awaited Regional Connectivity Scheme ‘UDAN’ in New Delhi today. UDAN is an innovative scheme to develop the regional aviation market. It is a market-based mechanism in ...

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India awards contract for construction of multi-modal waterways terminal at Sahibganj

India awards contract for construction of waterways terminal at Sahibganj

The multi-modal terminal at Sahibganj in Jharkhand is soon to become a reality. The Inland Waterways Authority of India has recently awarded the contract for construction of the terminal to Larsen & Toubro (L&T). With the targeted completion of Phase-1 in 2019, the state of the art terminal will have a cargo handling capacity of 2.28 MMTPA. Given Jharkhand’s coal reserves ...

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Commerce and Industry Minister launches the CIPAM Logo to promote Intellectual Property

Commerce and Industry Minister launches the CIPAM Logo

The logo of the Cell for IPR Promotion and Management (CIPAM) was launched today by the Commerce & Industry Minister Smt. Nirmala Sitharaman. On the occasion she said that this is an ambitious task as India’s intellectual property related activities need great traction. The logo has been designed keeping in mind the slogan of the National IPR Policy: “Creative India, ...

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PM launches National SC/ST hub and Zero Defect-Zero Effect scheme, at Ludhiana

PM launches Zero Defect-Zero Effect scheme at Ludhiana

The Prime Minister, Shri Narendra Modi, launched the National SC/ST hub, and the Zero Defect-Zero Effect (ZED) scheme today for MSMEs at Ludhiana in Punjab. He also presented National Awards to Micro, Small and Medium Enterprises (MSMEs). He distributed 500 traditional wooden charkhas (spinning wheels) among women. Speaking on the occasion, he said Ludhiana is an important economic centre, and ...

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Sagarmala funds flagship project of Ro Pax Ferry Service in Gulf of Cambay, Gujarat

Sagarmala funds flagship project of Ro Pax Ferry Service in Gulf of Cambay

As part of promoting coastal shipping in the country under Sagarmala programme, the Ministry of Shipping has sanctioned the Capital Dredging Project for Ro Pax Ferry Services between Gogha & Dahej, in Gulf of Cambay in Gujarat. The Ministry released Rs. 58.50 Crore as first installment of grant-in-aid to Gujarat Maritime Board (GMB). The total project cost is estimated to ...

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Germany to collaborate with India to improve Rail connectivity of Indian ports

Germany to collaborate with India to improve Rail connectivity of Indian ports

India and Germany, after a detailed meeting, announced that they are all set to collaborate on projects for improving rail connectivity of Indian ports. The two countries will work together on projects worth Rs. 1 Lakh crore, being implemented by the Indian Port Rail Corporation Ltd (IPRCL). Germany has been invited to cooperate in the development of inland waterways, including manufacturing ...

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MoU between Exim Bank of India on general cooperation with the NDB approved

Cooperation between Exim Bank and the New Development Bank approved

The Union Cabinet has given its approval for signing of a Memorandum of Understanding (MoU) on General Cooperation with New Development Bank (NDB) through the BRICS Interbank Cooperation Mechanism by Government at the level of Secretary, Department of Economic Affairs/Export Import Bank of India. The proposal will enhance trade and economic relations among the BRICS countries. There is no financial ...

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Cabinet approves revision of Ethanol price for supply to Public sector Oil Marketing Companies

Cabinet approves revision of Ethanol price

The Cabinet Committee on Economic Affairs, has approved the mechanism for revision of ethanol price for supply to Public Sector Oil Marketing Companies (OMCs) to carry out the Ethanol Blended Petrol (EBP) Programme in the following manner: For the next sugar season 2016-17 during ethanol supply period from 1st December, 2016 to 30th November, 2017, the administered ethanol price for ...

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India aggressively pursuing trade prospects with Latin American Countries (LAC)

India aggressively pursuing trade prospects with Latin American Countries

India’s engagement with LAC (Latin American Countries) has gained further momentum with recent developments that have taken place. India signed an agreement on the expansion of India-Chile PTA in New Delhi on 6th September, 2016. The expanded PTA will have far greater trade coverage in comparison to the agreement signed earlier in March, 2006 as both sides have offered tariff ...

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