Loading...
| Jan 01, 1970 | Daily Report |
| RISING BHARAT | News Count (102282) | |
21191. Union Cabinet Likely To Clear Scheme To Setup Seven Mega Textile Parks Within Next Two Weeks
- In a big Make in India policy push for the country's textiles sector, the Union Cabinet headed by Prime Minister (PM) Narendra Modi is likely to approve the proposed scheme to setup seven mega investment textile parks (MITRA) within the next fortnight, reports Economic Times.
- The parks have been proposed to be set up in a span of three years over an area of 1,000 acres in line with such similar parks in China and Vietnam. These parks will also have uninterrupted water and power supply, common utilities and research and development (R&D) laboratories. It should be noted that this comes just days after the Union Cabinet cleared the Rs 10,683 crore production-linked incentive (PLI) scheme for the textile sector. The scheme is likely to lead to investments of over Rs 19,000 crore.
- The MITRA parks, announced in the Budget 2021-22, are expected to enable the textile industry to become globally competitive, attract large investments, boost employment generation and export
21192. Govt wants Tesla to first start production in India before any tax concessions can be considered: Sources
- Govt wants Tesla to first start production in India before any tax concessions can be considered: The heavy industries ministry has asked US-based electric car major Tesla to first start manufacturing its iconic electric vehicles in India before any tax concessions can be considered, government sources said.
- Tesla has demanded reduction in import duties on electric vehicles (EVs) in India. At present, cars imported as completely built units (CBUs) attract customs duty ranging from 60 per cent to 100 per cent, depending on engine size and cost, insurance
- The company has argued that these proposals would not have any negative impact on the Indian automotive market as no Indian OEM currently produces a car (EV or ICE) with ex-factory price above $40,000 and only 1-2 per cent of cars sold in India
- Union Minister Nitin Gadkari had said Tesla has a golden opportunity to set up its manufacturing facility in India given the country's thrust on e-vehicles. Tesla is already sourcing various auto components from Indian automakers and setting up base
21193. India to give $3.5 bln in revised clean tech scheme for automakers.
- India to give $3.5 bln in revised clean tech scheme for automakers. The scheme was redrawn to focus on companies that build electric and hydrogen fuel-powered vehicles. the government's original plan was to give about $8 billion to automakers and part manufacturers to promote mainly gasoline technology, with added benefits for electric vehicles (EVs).
- India sees clean auto technology as central to its strategy to reduce its oil dependence and cut the debilitating pollution in its major cities, while also meeting its emissions commitment under the Paris Climate Accord
- The official did not specify those conditions, and India's industry and finance ministries did not immediately respond to an email seeking comment Details of the scheme, part of India's broader $27 billion programme to attract global manufacturers, could be made public as early as next week, the two sources said.
Click here to find 1469 similar incidents of Bharat Economic Growth -> Bharat Economic Growth
21194. Go global: Rolls-Royce, HAL pact for Adour engine parts
- Rolls Royce and Hindustan Aeronautics Limited (HAL) signed a “Make in India” agreement on Tuesday to manufacture parts for Rolls-Royce’s Adour engines that will support the UK-headquartered company’s international defence customer base. HAL has manufactured and supported Adour engine variants, under licence from Rolls-Royce, over several decades. However, Rolls-Royce now aims to strengthen the spares and maintenance ecosystem for Adour engines in India.
- Kishore Jayaraman, who heads Rolls-Royce in South Asia, said: “We are going to supply through multiple companies. HAL is only the first supplier we have signed a contract with, but we are looking at an entire supply chain ecosystem,” he said
- Rolls-Royce underscores a three-point aim in the current initiative. The first is to equip Indian manufacturers with the knowhow, processes and experience to build complex parts that require a lot of high-technology processes. Exporting parts from India would enhance supply chain efficiency and benefit Rolls-Royce’s global operators. Thirdly, since the Adour engines will continue to fly in India for the longest time, a self-sufficient supply chain would be in place to support those older engines.
21195. Indian Pharma: a strategic sector from ‘Make in India’ to ‘Make and Develop in India’
- Poised to grow to USD 120 to 130 billion by 2030, the pharma sector contributes significantly to India’s economic growth— 1.7 percent to the country’s GDP last year as compared to its contribution at one percent, a decade ago. The Indian pharmaceutical industry is US$42bn in size and ranks third worldwide for production by volume and thirteenth by value.
- India’s booming pharmaceuticals industry is not only a great source of innovation and employment generation, but it has also become a global healthcare provider in need” as said by Union Health and Chemicals and Fertilizer Minister Mansukh Mandaviya Innovation, research and development calls for huge investment. Exploring mechanisms to incentivize investment in research and evaluating various funding mechanisms such as budgetary support from government
- India introduced a patent box (allowing concessional tax rates for incomes from intellectual property) in 2016, and royalty incomes from patents developed and registered in India are taxed at a concessional 10 percent (plus applicable surcharges). The Indian pharmaceutical industry will not only need stable policies and regulatory transformations for the industry to thrive, but also strong collaborations between the government, industry and existing academic and research institutes to foster innovation.
21196. Expedite employment generation in Mizoram for rural development: Union minister
- Union Minister of State for Rural Development and Steel Faggan Singh Kulaste on Friday said employment generation in rural areas should be expedited to develop the people.
- During an interaction with officials of rural development department, Kulaste emphasised the importance of expediting employment generation in rural areas through various Central schemes to ensure that people have a regular income. He urged the officials to strengthen and popularise Self Help Groups (SHGs) and also to expand the existing marketing network for the benefit of SHGs.
- The minister further said that the Centre is making efforts to develop a small state like Mizoram. Among others, the Centre has allocated Rs 500 crore for the construction of a by-pass road in Aizawl and another Rs 100 crore for a pilot project (bamboo link roads) across Mizoram in the union budget. Citing about the strategic location of Mizoram, the Union Minister said he would inform the Centre to increase funds allocation under Border Area Development Programme (BADP).
Click here to find 219 similar incidents of North East India -> Developments in North East India
21197. Assam: Over 4,900 militants settled in mainstream life last year
- Relentless efforts on the part of the state government to bring insurgent groups to the mainstream to establish peace and harmony in the last one year has resulted in the rehabilitation of nearly 4,962 surrendered militants of different rebel groups, including the United Liberation Front of Asom-Independent (Ulfa-I) and the National Democratic Front of Bodoland (NDFB).
- Around 1,000 members of Bru militant outfits, Bru Liberation Army-Union (BLAU) and the United Democratic Liberation Army (UDLA) will surrender in Assam's Barak valley soon.
- The government has provided financial assistance of Rs 4 lakh to each of the rehabilitated surrendered members of the insurgent groups. Almost all of them are engaged in cultivation and farming. Skill development training under the State Institute of Panchayat and Rural Development has been given to the youths. Around 70 youths have opened a sandal factory in Udalguri while 43 have started goat farming in Darrang district and a few have opened home stay business.
Click here to find 219 similar incidents of North East India -> Developments in North East India
21198. Fly your way to office: India to soon introduce Asia's first hybrid flying cars
- Chennai-based Vinata Aeromobility is all set to launch its autonomous hybrid flying car on 5 October at the world's largest Helitech Exhibition.
- Vinata Aeromobility’s hybrid flying cars are designed for dual travelers and will touch a cruise speed range of 100-120 km/hour.
- Civil Aviation Minister Jyotiraditya Scindia tweeted that he was introduced to the concept model of Asia’s First Hybrid flying car by the young team of a Chennai-based startup.
21199. LG to lay foundation stone of Tawi River front development project today
- Jammu and Kashmir Lieutenant Governor Manoj Sinha will be launching mega projects of public welfare and first ever sports policy at different events here on 12 feb.
- Official sources said that LG Sinha will inaugurate Drug De Addiction Centre at Channi Himmat on Saturday morning. This will be the second drug de addiction centre to be set up at Jammu. The existing one is located at District Police Lines. Thereafter, Sinha will lay foundation of the ‘River Tawi Front’, the much awaited project of people of Jammu.
- The existing one is located at District Police Lines. Thereafter, Sinha will lay foundation of the ‘River Tawi Front’, the much awaited project of people of Jammu. The project, once completed will be beautifying the Tawi Front and will have multi features like eating points, parks, walking zones, cycling zones on the pattern of ‘Sabarmati River Front’.
21200. How manufacturing and automation can lead India to become an economic superpower
- The economic mayhem caused by the pandemic has exposed many weaknesses in Indian manufacturing space and questioned our claim of an inclusive journey to become an economic superpower.
- The Indian manufacturing, including electronics contract manufacturing (EMS) , has an immense pool of talented professionals, which has steered their operations well during this crisis and shows our ability to plan and create preparedness.
- Our becoming a developed country and an economic superpower will be incomplete if we do not enable a comfortable, safe and sustainable lifestyle for our Country’s people.
Click here to find 1469 similar incidents of Bharat Economic Growth -> Bharat Economic Growth