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| Jan 01, 1970 | Daily Report |
| RISING BHARAT | News Count (102346) | |
20721. Vivo to invest Rs 3.5k cr in India by 2023, to start export devices in 2022
- Smartphones maker Vivo plans to invest Rs 3,500 crore in two years to boost its manufacturing facility in India and start exporting devices from the country this year, a senior company official said
- Vivo has set a target to double the smartphone production capacity in India to 12 crore annually from six crore at present and take the employee base to 40,000 after investing the entire amount of Rs 7,500 crore.
- Vivo India has 10,000 employees at its manufacturing unit at present. The company has acquired another 169 acres of land in Greater Noida where it is developing its new manufacturing unit.
20722. Rs 1,204 cr worth exports in 7-months: More takers for Indian coir pith in overseas markets
- Even amid the Covid-19 pandemic crisis, coir pith produced in India is having more takers in overseas market. In the first seven months of the current fiscal year (until October 2021), the value of pith exported from the country stood at Rs 1,204 crore
- During this period, 4.1 lakh tonnes of pith was exported. Notably, during the previous fiscal's corresponding period, the value stood at Rs 980 crore, while the quantity exported was 3.8 lakh tonnes.
- The exporters point out that exports have increased within the last five years. Similarly, the enquiries from private companies in other countries too have increased, said sources.
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20723. India’s exports expected to grow by 16.5% in FY22: Economic Survey
- The Economic Survey 2022 tabled in the Parliament said that the Indian merchandise exports are expected to grow by 16.5 per cent in 2021-22 surpassing pre-pandemic levels.
- The Centre has targeted $400 billion in merchandise exports for the current fiscal and an ambitious $1 trillion by 2030.
- Out of an ambitious export target of $400 billion set for 2021-22, India has already attained more than 75 per cent of it by exporting goods worth $301.4 billion, which is actually higher than the export target of $300 billion set for the April-December period of 2021-22, the Survey highlighted.
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20724. Aurobindo Pharma plans local market foray with buyouts, targets Rs 1,000 crore domestic formulation sales
- Aurobindo Pharma, one of India’s largest listed pharmaceutical firms with a large contribution from global sales, is exploring a foray into the domestic formulations market and is actively looking at inorganic growth opportunities.
- the Aurobindo Pharma chairman PV Ram Prasad Reddy said the company wants to reach around Rs 1,000 crore of sales in the domestic market through inorganic route in “3 years from the date of the first launch.
- Aurobindo Pharma said it has invested Rs 400-500 crore on the production linked incentive (PLI) scheme. the company was going ahead with a project for 15,000 tons of Penicillin G at Kakinada in Andhra Pradesh.
20725. Nepal to be first foreign country to deploy UPI (UPI Revolution Global)
- The National Payments Corporation of India’s global arm NPCI International Payments (NIPL) help enable the Unified Payments Interface (UPI) platform in Nepal. NIPL has partnered Gateway Payments Service (GPS), an authorised payment system operator in Nepal, and Bengaluru-based Manam Infotech.
- UPI will be deployed in Nepal as a digital public benefit to bolster interoperable real-time person-to-person (P2P) and to-merchant (P2M) payment transactions.
- Nepal has a population of around three crore with about 45% banked, a mobile penetration of over 135% with 65% of the population using smartphones
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20726. Vedanta to invest up to $20 bn in semiconductor business in India, roll out by 2025
- Indian conglomerate Vedanta has earmarked USD 15 billion for foray into the electronic chip and display manufacturing space, and plans scale up the investment to as much as USD 20 billion
- Vedanta is the first company to make the announcement to invest in semiconductor manufacturing after the government announced a USD 10 billion (Rs 76,000 crore) program to boost electronic chip and display ecosystem in the country.
- Vedanta has signed a memorandum of understanding with electronics manufacturing services giant Foxconn to form a joint venture company that will manufacture semiconductors in India.
20727. PM Modi to Virtually Inaugurate Bio-CNG Plant in Indore to Help Turn Wet Garbage into Fuel
- India’s cleanest city Indore, which earned the coveted distinction five times in a row, is set to add another feather in its embellished cap as Prime Minister Narendra Modi will virtually inaugurate a Bio-CNG plant in the city
- which will be turning 550 tonnes of wet garbage produced by the city to run 400 city buses on clean fuel. Offering a win-win situation for the local authorities, the state-of-the-art plant, billed as the largest one in Asia, will generate 18,000 kg of CNG and 100 tonnes of organic fertilizer besides ridding the city of huge quantities of wet garbage and polluted air.
- The plant has been built on 150 acre of area and a budget of Rs 150 crore in the city. The daily generation of CNG could offer refills to 1,000 small vehicles and 400 bigger ones, which will prevent consumption of 17,000 litre of fossil fuel and generate 100 tonnes of organic fertilizer on daily basis.
20728. Bajaj Chetak Electric now available for booking in Mumbai, Delhi: Check out full list of cities
- Bajaj Auto has announced that it has expanded the network for its Chetak electric scooters to cover 20 cities. With this expansion, the firm has increased its coverage two-fold in a matter of six weeks
- Bajaj Auto had launched the electric version of its iconic Chetak scooter in January 2020. The original Chetak had ruled the Indian two-wheeler landscape for three decades between 1972 and 2006.
- Bajaj Auto has expanded its reach to 12 more cities for its Chetak electric scooter. These cities are - Coimbatore, Madurai, Kochi, Kozhikode, Hubli, Visakhapatnam, Nashik, Vasai, Surat, Delhi, Mumbai and Mapusa. Bajaj Auto made the scooter available in 8 cities in 2021.
20729. ‘White Revolution’ in J&K: Govt establishes over 1000 dairy units in past 4 months
- the present Jammu and Kashmir govt. is taking a series of measures for the development of the dairy sector thus paving way for a new ‘White Revolution’ in the Union Territory.
- In order to augment the milk production and to uplift the economic conditions of the farmers, department of Animal Husbandry Jammu is facilitating intensive induction of high yielding milch Cows and Buffaloes from the neighbouring states under the flagship Integrated Dairy Development Program, under which beneficiaries get financial-assistance to procure cattle heads.
- In the past 4 months alone, the department of Animal Husbandry Jammu has physically established more than one thousand dairy units comprising elite cows and buffaloes in the Jammu province. In addition, over 5000 Dairy Units have already been sanctioned by the department which shall facilitate a cumulative induction of around 30 thousand Dairy animals with superior germplasm into the UT from outside states in a short span of time.
- The renewed focus by the department of Animal Husbandry Jammu shall lead to the increase in the average milk production to the tune of around 3 lakh litres per day in the Jammu province.
20730. JK To Create 4 Innovation Hubs Under New Education Policy: Kansal
- Principal Secretary Higher Education Department, Rohit Kansal on Friday reiterated that the J&K Government is committed to supporting the Indian Institute of Technology Jammu and other institutions to build a culture of innovation and growth.
- He also announced that the entire process would be enlarged and a J&K wide start up contest would be organized soon. The Higher Education department would support and facilitate a J&K wide version of the event which would be organized by the IIT and supported by the government.
- He confirmed that the government stands committed in supporting IIT Jammu in all their innovation efforts and are going to take this forward to expand the scope of this exercise to enable it to reach a much larger audience set. “We will expand our support in size as well as scope whereby IIT Jammu shall be developed as an incubation hub; we will also support other institutions and universities in J&K by mapping up these incubators with spokes that we will create in all our colleges. The resultant culture of innovation, growth and progress will benefit not just J&K but the entire nation.”