Putin is a fan of PM Modi
Russian President Vladimir Putin praised India’s economic progress. He said that India’s economic growth is a model for many BRICS countries. Putin made the above remarks while delivering a speech at the 16th BRICS leaders’ meeting in Kazan, Russia. He thanked Prime Minister Modi for participating in the three-day summit. He said that India has successfully achieved the high economic growth we often emphasize. He congratulated Prime Minister Modi on this. He said the 7.5 per cent increase was an example to many of us. Thanks for this achievement.
Germany gives special status to India
German Ambassador Philipp Ackermann said Germany gives India special status in terms of military procurement approvals. This can speed up the review and approval of military procurement. He said the German suppliers were waiting for the Indian government to complete the decision-making process on the P-75I submarine deal. He said the multi-billion dollar deal would be top of the agenda during Spanish Prime Minister Pedro Sanchez’s planned visit to India during German Chancellor Olaf Scholz’s visit to India.
fast growing economy
Krishna Srinivasan, the International Monetary Fund’s regional director for Asia and the Pacific, had some important remarks about the Indian economy. He said that India will remain the fastest growing economy in the world. Krishna Srinivasan told PTI that the rural economy is improving rapidly and crop maintenance and production levels have also increased. He said despite some fluctuations in food prices, inflation is expected to fall to 4.4% in FY24-25. This will affect markets and economies.
However, he also gave three important suggestions for this. In addition to job creation and services, he also talked about emphasizing agriculture and land reform. Comprehensive reforms in these areas will further strengthen urban and rural economies.
Education 2030 Action Framework
UNESCO said the Indian government had allocated the funds in line with its Education 2030 Framework for Action. India will spend about 4.1% to 4.6% of GDP on education between 2015 and 2024, which is in line with international standards. The UNESCO report states that the Indian government’s education expenditure during the same period ranged from 13.5% to 17.2%. This report provides a detailed analysis of global education investment trends.
Government initiatives in the field of education are positive. UNESCO recognizes India’s investment in education as being in line with international norms. India is progressing faster in education compared to many Asian countries. After the COVID-19 epidemic, investment in education has declined in many countries.
Second phase of ‘Bharat Dal’ begins
Pulses inflation rose by 9.8% in September from 113% in August due to a sudden softening in pulse prices in the country. Thereafter, the government started a campaign to control pulse prices. To this end, Food and Consumer Affairs Minister Prahlad Joshi launched the second phase of ‘Bharat Dal’ to control pulses prices. In a bid to control prices, the Ministry of Consumer Affairs has expanded the subsidy scheme for pulses and announced the launch of new products including chana Whole and Masoor dal under the ‘Bharat’ brand.
The objective of the program is to make pulses such as gram gram, moong gram and masu beans available to consumers at discounted prices through partner retail networks and e-commerce platforms. On the occasion, he said that we are committed to keeping prices of pulses stable.
New Initiatives for eShram Portal
The central government has taken up a new initiative on eShram portal to facilitate workers in the unorganized sector. The government has integrated 12 schemes on the portal. This will eliminate the problem of unorganized workers running away. Workers who register on this portal will get all the facilities available at one place. The central government has also urged states and union territories to provide schemes and benefits for unorganized workers on this platform.
Some regional languages ​​are also available on the eShram portal. For example, outreach programs and awareness programs on labor and employment. The ‘Ishram-One Stop Solution’ portal provides information on welfare schemes for unorganized workers in an efficient manner on a single platform.
Digital payments double in three years
The Reserve Bank of India has released a major report on digital payments in the country. According to a report by the Reserve Bank of India, cash transactions have dropped significantly in the country. A study by the Reserve Bank of India shows that cash’s share of the market is declining rapidly due to the rise in digital payments in the wake of the coronavirus pandemic. The report shows that the share of digital payments increased from 14-19% in March 2021 to 40-48% in March 2024.
However, the report also said that by March 2024, cash’s share of the market will still be 60%. From 81-86% in January-March 2021, this has dropped to 52-60% in January-March 2024. The report said that after demonetization in 2016, the amount of payments through UPI surged during the 2020 COVID-19 pandemic. This trend is gradually increasing rapidly.
The real estate market is also booming
After the recession of recent years, the real estate market is booming again. Homebuyers are encouraged given the improving economy and the holiday season. As the festive season approaches, the real estate market in India seems to be booming. Large infrastructure projects are being launched.
Market experts believe that the Indian real estate industry is undergoing a major transformation. People’s interest and financial ability to buy houses, shops, and commercial facilities have increased again. This is why house prices are up 20% this year compared to last year.
Vadodara steel bridge inaugurated
A 60-meter-long steel bridge has been launched on the Bajwa-Chhayapuri string line of the Vadodara Western Railway for the Ahmedabad-Mumbai high-speed rail project. Regarding the project, National High Speed ​​Rail Corporation Limited officials said that the ‘Made in India’ steel bridge has been successfully launched. The 645-ton steel bridge is 12.5 meters high and 14.7 meters wide. The bridge assembly uses approximately 25,659 Torsional Shear High Strength (TTHS) bolts with C5 System paint and thermoplastic bearings.
Global Competence Center (GCC)
JLL India presents a unique report on India’s progress. According to the report, India is emerging as an important destination for Global Capability Centers (GCC). There are currently more than 1,800 such centers across the country. By 2022, the country will have more than 100 new GCCs that are of strategic importance to multinational companies. GCC is now one of the 7 largest cities in India. In the past 18 months (January-December 2023 to the first half of 2024), GCC leased 35.2 million square feet of office space. Bengaluru, Hyderabad and Chennai have the highest proportions.
Indian apparel exports increase
India’s apparel exports have grown significantly. In fiscal year 2025, the revenue of the apparel industry will grow by 9-11%. The report said that India’s apparel exports have greater potential in the future. Its demand at the international level has increased significantly and the proposed free trade agreements with the UK and EU will help encourage the government. ICRA said capital expenditure is likely to increase in FY2025 and FY2026. It can remain within the range of 5-8% of turnover.
King Charles remembers India
British High Commissioner to India David Cameron said he was delighted to celebrate the birthday of King Charles III in Delhi. He said India held a special place in King Charles’ heart. Cameron recalled King Charles’ previous visit to India. His most recent visit was in 2019. He said King Charles was influenced by Indian culture. He thoroughly enjoyed his trips to Delhi and Mumbai. It was a country that held a special place in his heart. He said I have been here for six months and am very happy. King Charles visited India ten times.
India has the ability to deal with global inflation
Santosh Rao of Manhattan Ventures praised the growth of the Indian market. He said the market here is developing rapidly. A lot of manufacturing is coming. All of this is good for the economy. In response to a question, he said, I think when the situation is good, the market will move forward quickly, and when the situation is bad, the market will fall a lot. It’s always like this. At some point you need balance. India is going through this process.
Indian food discussion
GlobalData gives a better report on Indian food and beverages. GlobalData says India’s food habits offer hope in overcoming environmental problems. GlobalData is a leading data and analytics company. As the world grapples with climate change, Indian food appears to be immune to such concerns. According to GlobalData statistics, there are quite a lot of vegetarians in India. Vegetarianism also has a long history. This is food that solves ecological problems.
In the report, India’s food consumption patterns are described as the most climate-friendly among G20 countries. It also mentioned that if all countries follow India’s food consumption pattern, the world will require 0.84% ​​of the earth’s land for food production by 2050.
