India Story: Employment And Industrial Policy

India needs to create many more jobs in sectors outside of agriculture, construction and services. But that is where we have failed, said Professor Jayan Thomas, Economics, IIT Delhi in an interview with BW Businessworld. On the employment crisis in India, he cited data and said that between 2012 and 2018, India’s non-agricultural workforce could have increased to 17.5 million a year. That is the potential labour supply. But the actual labour absorption in industry, construction and services was at the rate of 4.5 million a year. Edited excerpts: Tell…

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Indian Industrial Growth Stands At 11.7% In 2021-22: Govt Tells Parliament

The Minister of State for Commerce and Industry, Som Parkash said in reply to a parliamentary question on Wednesday said that the industrial growth during 2021- 22 was 11.7 per cent over the corresponding period of the last year.  As per the Index of Industrial Production (IIP), the annual average growth of IIP was 3.4 per cent and 3.2 per cent respectively during the period 2009-14 and 2014-19. MoS Parkash stated that the government has undertaken various steps to boost industrial performance. The minister stated that the Emergency Credit Line…

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Coffee Exports Up 38% In 2021-22 Compared To 2020-21: Centre

During 2021-22, Indian coffee exports stood at USD 1.016 billion, growing by 38 per cent from the previous year 2020-21. This was stated by the Minister of State in the Ministry of Commerce and Industry Anupriya Patel said in reply to a parliamentary question on Wednesday. Notably, in the year 2021-22, India was the fifth largest exporter of coffee in the world with a share of about six per cent of global coffee exports. The minister stated that Indian coffee exports have increased from 19.7 thousand tonnes during 1960-61 to…

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Exports Of 207 Technical Textile Products Up 28.4% To $2.85 Bn In 2021-22: Govt

To boost the technical textiles sector, the Centre has set up the National Technical Textiles Mission (NTTM) for a period of 4 years with an outlay of Rs 1,480 crore Registering a growth rate of 28.4 per cent, India’s exports of 207 technical textile products have grown from USD 2.21 billion in 2020-21 to USD 2.85 billion in 2021-22. This was stated by the Union Minister of State for Textiles Darshana Jardosh in a written reply to a question in Lok Sabha on Wednesday. To boost the technical textiles sector,…

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Actual Covid infections in India 17 times higher than reported: BHU study, Health News, ET HealthWorld

New Delhi: The actual COVID-19 infections in India may be around 17 times higher than the official figure, a study led by researchers at Banaras Hindu University (BHU) suggests. According to government data, nearly 4.5 crore people in India have been infected with COVID-19 so far. However, the study published in the International Journal of Infectious Diseases (IJID) estimated that the actual coronavirus cases in the country may be between 58 to 98 crores. The research “has shown that the actual corona infection in India was at least 17 times…

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Syria Earth Quake: India hands over six tonnes of relief materials to quake-hit Syria, Health News, ET HealthWorld

India on Wednesday handed over six tonnes of relief materials, including essential medicines and medical equipment, to earthquake-hit Syria. The consignments were sent on a C-130J military transport aircraft on Tuesday night and were handed over to the Syrian authorities by India’s Charge’d Affaires S K Yadav this morning. India has already sent to Turkiye relief materials, a mobile hospital and specialised search and rescue teams in four C-17 Globemaster military transport aircraft on Tuesday to support the country’s rescue efforts following the massive earthquake that has killed thousands of…

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RBI Raises Repo Rate By 25 Bps To 6.50% Amid Moderating Inflation

The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on Wednesday raised the policy rate by 25 basis points in its last policy review of the fiscal year amid moderating inflation. The MPC hiked the repo rate, or the key rate to 6.50 per cent from 6.25 per cent and increased the key rate by 250 (225 + 50) bps since May. The panel also decided to remain focused on the withdrawal of the accommodative stance. The smaller rate hike by the central bank can be credited…

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India’s Annual Textile, Apparel Exports Up 41% To $44.4 Bn In FY 2022

India’s annual textile and apparel exports stood at USD 44.4 billion in FY 2022 with an increase of 41 per cent compared to last year, the Minister of State for Textiles Darshana Jardosh on Tuesday said.  While inaugurating the 68th India International Garment Fair (IIGF), she said that India is the second largest textile and clothing exporter in the world.  She appealed to the apparel manufacturers and exporters to emphasise innovation and quality by matching the latest fashion trends and assured all sorts of support from the government for the…

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India Committed To Reduce 45% emissions intensity Of GDP By 2030: Bhupender Yadav

India stands committed to reducing the emissions intensity of gross domestic product (GDP) by 45 per cent by 2030 and reach to net zero by 2070 while developing sustainably, said Union Minister Bhupender Yadav on Tuesday in Bengaluru.  While addressing the ministerial session on ‘Adapting to an Uncertain Future: Reshaping of Global Partnerships’ at India Energy Week, he said India has emerged as one of the global forerunners with the ability to show concrete and collective resolve to ensure harmony and energy security in the world amid energy crisis.  He…

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India Receives $89,127 Mn Foreign Inward Remittances In FY 2021-22

During 2021-22, India received foreign inward remittances of USD 89,127 million which was the highest ever inward remittances received in a single year.  This was stated by Union Minister of State for Finance Pankaj Chaudhary in a written reply to a question in Rajya Sabha. The minister further stated that the value of the Indian Rupee is market-determined and the RBI closely monitors the foreign exchange markets.  He added that intervenes only to maintain orderly market conditions by containing excessive volatility in the exchange rate, without reference to any predetermined…

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