India’s new fiscal stimulus shifts focus back to longer-term growth, says Moody’s


India’s recent $36 billion-worth economic stimulus measures that aim to boost manufacturing and create more jobs present a potential upside to the country’s economic growth forecasts, Moody’s said in a report on Thursday. Only about a week ago, the global ratings agency had revised upwards its previous growth forecast for the South Asian nation. It had […]

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Liquid milk sales in India to sustain momentum despite fall in institutional demand due to Covid – report


Growth of liquid milk sales in India is not seen being impacted by a sharp fall in institutional demand for dairy products due to a pandemic-led lockdown in the first half of the year, according to a report by credit ratings agency ICRA. Speaking with, Gaurav Jain, Vice President (Corporate Ratings), ICRA, said household […]

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India approves $27 billion production-linked incentives for 10 manufacturing sectors, including food


India’s cabinet on Wednesday announced a production-linked incentive (PLI) programme worth Rs 2 lakh crore ($27 billion) for as many as 10 sectors, including food processing, with the aim of establishing the country as manufacturing hub. “The scheme will make Indian manufacturers globally competitive, attract investment and enhance exports, said Prakash Javadekar, minister for human […]

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Rural demand kindles hope that Covid-19 pandemic’s impact on India might be managed


In a bleak year for the economy, India’s hopes of strong rural demand providing a fillip are at last being realised.  Nowhere is this more evident than across different segments of the automobile industry — which represents  around half of the manufacturing industry in the country. This is important as a recovery in automobiles indicates […]

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Eden Renewables India wins 1350MWp capacity projects in Rajasthan


Eden Renewables India, an equally owned joint venture between international giants EDF Renewables and Total Eren has bagged three solar projects, totaling 1350 megawatt peak (MWp) in Rajasthan between April and July 2020. According to a press statement, these projects include two 450 MWp solar photo voltaic (PV) projects snagged during the last tenders awarded by […]

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World steel output in August rose year-on-year by an estimated 0.6%; China up 8.4%, India down 4.4%


World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 156.2 million tonnes (Mt) in August 2020, a 0.6% increase compared to August 2019. Due to the ongoing difficulties presented by the COVID-19 pandemic, many of this month’s figures are estimates that may be revised with next month’s production update. China produced 94.8 […]

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