During the week from October 9 to 16, Telangana secured investments from three companies totalling Rs 1,850 crore, confirming its position as India's premier investment destination. As a result of these three investments, approximately 4,500 jobs could be created. There were contributions from a wide range of industries, including life sciences, edible oils, and jewellery. A positive start to the new week for Telangana was provided by pharma company Hetero, which announced plans to invest around Rs 600 crore in an acquired manufacturing unit. The project will create employment for about 2,
South African President Cyril Ramaphosa’s visit to the Kingdom of Saudi Arabia was summarised by signing a series of memorandum of understanding (MoU) between both countries. As per the report shared by a Saudi state news agency on Monday, the estimated value of those memorandums of understanding is worth more than $15 billion. Both countries agreed on cooperation in the field of agriculture, aquaculture, fisheries, and direct investment cooperation. South African President Cyril Ramaphosa arrived in the Kingdom of Saudi Arabia on Friday, October 14, for a State Visit, which concluded on
World Bank President David Malpass has expressed his interest to work with India to take its successful digitization efforts to other countries so that they can also reap benefits from it, Finance Minister Nirmala Sitharaman has said. Sitharam, who was in Washington to attend the annual meetings of the International Monetary Fund and the World Bank, spoke about this to Indian reporters on Saturday during a press conference. Sitharaman said India was requested to exhibit how Indian people have recognized the intense digital applications. “In fact, today, in my meeting with the World Ba
The U.S.-India Trade Policy Forum (TPF) will be held on November 8 in Washington DC. U.S. trade officials will arrive in New Delhi next week to set the seal on issues for discussion, an Indian government official said. A few weeks ahead of this meeting, it seems likely that the gains are most probably going to be moderate and result in a positive change in the immediate future, considering the structural differences in both economies and political factors in India and the U.S. — both of which have general elections in 2024. The 12th TPF was held in New Delhi in November 2021, after a gap
Trade and investment will be a focus area for Singapore and Thailand, as well as tourism cooperation and digital economy collaboration. In Bangkok on Tuesday and Wednesday, the sixth ministerial meeting on Enhanced Economic Relationships between Singapore and Thailand was co-chaired by Dr Tan See Leng, Minister for Manpower and Second Minister for Trade and Industry, and Mr Jurin Laksanawisit, Thai’s Deputy Prime Minister and Commerce Minister. As part of the agreement, Singapore and Thailand formed a Cruise Tourism Task Force to develop a comprehensive road map for promoting cruise t
Union Finance Minister Nirmala Sitharaman said on Tuesday India is talking to different countries to make RuPay acceptable in their nations. “Not just that, the UPI (Unified Payments Interface), the BHIM app, and NCPI (the National Payments Corporation of India) are all now being worked in such a way that their systems in their respective country, however, robust or otherwise can talk to our system and the inter-operability itself will give strength for Indians expertise in those countries,” the FM said. An Indian student studying at the University of Maryland told Sitharaman how pr
Sterling has fallen by 1% after the dollar wavered and British Prime Minister Liz Truss defended her government's economic plans that led to the drop in the pound. Defending the new plans laid by the British government, Truss said that the big tax cuts were the right path for the nation and refused to give a second thought to making any changes to the "mini-budget". The pound was last down 0.3% to $1.0854 after hitting a low of $1.0764. However, the euro was 0.12% lower against sterling at 89.27 pence. Not only on other currencies, the new budget has affected the UK government bond market
A new report released by the World Intellectual Property Organisation (WIPO) on 29 September shows India has made significant progress in the global innovation index ranking, reaching the top 40 for the first time. In the report, the most innovative economies in the world are Switzerland, the United States, Sweden, the United Kingdom and the Netherlands. Furthermore, India jumps to 40th place, while Turkey moves up to 37th place, with emerging economies showing consistently strong performance. It has made its way into the top 40 this year after entering the top 50 earlier in 2020. In sp
The Asian Development Bank (ADB) on Tuesday announced plans to provide at least $14 billion in financial support for the Asia-Pacific region's worsening food crisis, which is a direct impact of the Russia-Ukraine war and global climatic conditions. The funding will be done over 2022-2025. The funding was announced by Asian Development Bank (ADB) President Masatsugu Asakawa during the 55th ADB annual meeting, conducted via a virtual press conference. $3.3 billion will be spent in 2022, while $10.7 billion is to be utilized between 2023-25. Mr. Asakawa highlighted global climate change
On Tuesday, Defence Minister Rajnath Singh urged the domestic industry to identify cost-effective products and technologies for making weapons for the world, noting that global military spending is on the rise. He said the recent rally in defence stocks indicates a growing interest in the sector, as he addressed a gathering of domestic defence manufacturers. He spoke at the Society of Indian Defence Manufacturers (SIDM). Singh said, “The whole world is coming forward to invest in India. India is an attractive investment destination. This shows that now is the time to move ahead much f