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

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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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India’s central bank estimates GDP to contract by 8.6% in Q2; enters recession for first time

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India’s GDP is likely to contract by 8.6 per cent for the July-September period, which means India will enter into a recession for the first time in history in the first half of this fiscal with two successive quarters of negative growth due to the COVID-19 pandemic, as per an RBI official reported by the Press Trust […]

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Modi urges foreign investors to come to India for “returns with reliability”

Prime Minister Narendra Modi on Thursday urged global investors to put their money in India for returns with reliability, saying the country was fast changing for the better and offered huge opportunities in every sector of its economy. “We are building a New India which is free of old practices. Today, India is changing and for […]

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India’s shipping ministry issues draft Coastal Shipping Bill, 2020 for suggestions from the public

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India’s Shipping Ministry  has issued a draft Coastal Shipping Bill, 2020 for public consultation, in accordance with Prime Minister Narendra Modi’s vision for augmenting people’s participation and transparency in the governance, a PIB note said. As the shipping sector grows and evolves in the country, a need was felt to have a separate legislation on […]

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India to introduce logistics, e-commerce national policy, says minister

India’s junior Commerce Minister Som Prakash said on Wednesday that the government will soon be introducing a national policy for logistics as well as e-commerce to boost the retail trade following the devastation suffered in the global pandemic. He told the Federation of Indian Chambers of Commerce and Industry (FICCI) annual retail event called MASSMERIZE […]

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Import of thermal and coking coal at major Indian ports decline by 25% in the first 6 months of FY21

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Disruptions caused by the COVID-19 pandemic continued to impact cargo movement in India, with thermal and coking coal imports at 12 major ports falling by 25 per cent year-on-year to 55.41 million tonnes (MT) during April-September, according to the apex ports’ body IPA. Coal volumes at the 12 major ports declined for the sixth straight […]

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World’s largest container shipping firm Maersk to layoff 2,000 employees amid improving outlook

Maersk, the world’s biggest container shipping line, said it was making about 2,000 employees redundant globally even while announcing that a recovery was underway. The company said in a statement that it expects  to take a restructuring charge of $100 million in the third quarter of this year. “Trading conditions for the quarters ahead remain subject […]

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Interview – Covid vaccine storage and distribution unlikely to be a logistical nightmare for India

Apprehensions around India’s ability to handle the distribution and storage of the Coronavirus vaccines that are expected to come into place next year mostly unfounded, a top cold chain industry expert said. The world is gearing up to the possibility of finally finding an antidote for the dreaded virus that has killed tens of thousands […]

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India’s stimulus measures seen providing modest push to economic growth

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Indian industry welcomed measures to boost spending in the economy with the government providing a festival advance plan to its employees as well as advancing a 50-year loan to states. However, the measures would only have a modest impact and would fall short of a bigger push needed to revive growth over the medium to […]

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Minister invites coal and power sectors to consolidate Indian railways coal business

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India’s Minister of Railways and Commerce and Industry Piyush Goyal met the top leadership of the coal and power sectors to ensure consolidation of Indian Railways coal business and suggest ways and means to further improve the joint operational productivity of all stakeholders, the railway ministry said in a statement. Coal accounts for almost 50 per cent […]

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