General Awareness

BUSINESS AND ECONOMY - May 2018

May 2018

Jan 16, 2025

India's GDP Growth Projected to Reach 6.7% in FY25

India's GDP growth is projected to improve to 6.7% in the fiscal year 2025 (FY25), according to a CRISIL Intelligence report. This anticipated growth follows a moderation to 6.4% in the current fiscal year, down from 8.2% in the previous year.
The report highlights a sustained decline in food inflation, with the Consumer Price Index (CPI) inflation cooling to 5.2% in December from 5.5% in November. Food inflation eased to 8.4% from 9%, while non-food inflation remained stable at 3.1%. This trend is expected to create room for a rate cut by the Reserve Bank of India (RBI) in the coming months.

Jan 15, 2025

SECL Introduces Post-Retirement Benefit Cell

In an initiative aimed at enhancing the welfare of its retired employees, South Eastern Coalfields Limited (SECL), a Chhattisgarh-based subsidiary of Coal India Limited (CIL), launched a Post-Retirement Benefit (PRB) Cell. The cell, designed to provide a single-window solution for retired employees, reflects SECL's commitment to improving the post-retirement experience of its former workforce. The new PRB Cell consolidates various post-retirement services under one roof, ensuring that retirees no longer need to navigate between multiple departments. The initiative also complements 'Mission Sambandh', an ongoing SECL program aimed at fostering better communication and engagement with stakeholders.

DP World, AM Green Ink Pact to Develop Green Fuel Logistics Infra

Green hydrogen and ammonia producer AM Green of the Greenko Group, and global logistics major DP World entered into a pact to develop storage and logistics facilities for 2 million tonnes of green fuel per annum.
"Under the memorandum of understanding (MOU) DP World and AM Green will jointly develop logistics and storage infrastructure to facilitate the global export of 1 million tonnes per annum (MTPA) of green ammonia and 1 MTPA of green methanol," AM Green said in a statement Tuesday morning.
The logistics infrastructure will include developing port infrastructure across AM Green Net-Zero Industrial Clusters to facilitate global exports, creating bunkering infrastructure across Dubai, India, and Southeast Asia for green ammonia and methanol supplied from AM Green plants.

IMGC, GIC Housing Partner to Offer Mortgage Guarantee-backed Home Loans

India Mortgage Guarantee Corporation (IMGC) announced a partnership with GIC Housing Finance Ltd (GICHFL) to offer innovative mortgage guarantee-backed home loan products.
This strategic collaboration aims to introduce innovative mortgage guarantee-backed home loan products to prospective salaried and self-employed home loan customers, specifically designed to enhance accessibility and affordability in the growing housing finance sector.

Jan 14, 2025

Avenue Supermarts Appoints Anshul Asawa as CEO Designate

Avenue Supermarts Limited, which operates the DMart hypermarket chain in India, appointed Unilever's Anshul Asawa as the Managing Director and Chief Executive Officer (CEO) designate with effect from March.
Asawa, an IIT Roorkee and IIM Lucknow alumnus, has played a pivotal role in creating a portfolio and driving demand for Unilever's e-commerce home care segment. He was the company's Global Vice President for digital, e-commerce, and customer development.

INROAD Project: Enhancing Natural Rubber Quality in India's North-East

The INROAD (Indian Natural Rubber Operations for Assisted Development) project in the North East received financial support of Rs. 100 crore for improving the quality of natural rubber.
This initiative focuses on skill development for rubber growers and the establishment of model infrastructure, with support from key players in the tyre industry, demonstrating a unique collaboration between agriculture and manufacturing.
INROAD is a pioneering initiative in the global tyre industry, focusing on improving the quality of natural rubber through direct involvement from tyre manufacturers. The project is financially supported by four major companies – Apollo, Ceat, JK, and MRF. The Rubber Board of India oversees its implementation.

C-DOT and IIT Mandi Sign Agreement for Developing Semiconductor Chip

In a step towards developing Indigenous state-of-the-art next-generation telecommunications technology, the Centre for Development of Telematics (C-DOT), signed an agreement with the Indian Institute of Technology Mandi (IIT Mandi) in collaboration with Indian Institute of Technology Jammu (IIT Jammu), for the development of 'Wideband Spectrum-Sensor ASIC-Chip for Enhancing the Spectrum Utilization'.
According to the Ministry of Communications, the agreement is signed under the Telecom Technology Development Fund (TTDF) scheme of the Department of Telecommunications, Government of India.

Jan 13, 2025

Adani Announces Rs. 65K cr Investment in Energy, Cement Projects in Chhattisgarh

Industrialist Gautam Adani called on Chhattisgarh Chief Minister Vishnu Deo Sai and announced an investment of Rs. 65,000 crore in the Adani Group's energy and cement projects in the state.
During the meeting, Adani announced a planned investment of Rs. 60,000 crore to expand the group's power plants in Raipur, Korba and Raigarh in the state. This expansion will enhance Chhattisgarh's total power generation capacity by an additional 6,120 MW.
Additionally, the Adani Group chairman also committed Rs. 5,000 crore for the development and expansion of the group's cement plants in the state.

Barista Coffee Company Collaborates with American Pistachio Growers

Barista Coffee, one of India's leading home-grown coffee chains collaborated with the American Pistachio Growers (APG) to introduce a new range of pistachio-based beverages and desserts. APG is known for their product quality, which is in synonym to what Barista stands for. Innovation has been a key to Barista's success and to launch a product which has a trust value attached creates the desired synergy for the collaboration. The partnership focuses on the premium quality of California-grown pistachios, known for their taste and nutritional benefits, bringing a unique blend of indulgence and wellness to Barista's customers.

India and Mongolia Forge Mining Partnership

India is set to sign a Memorandum of Understanding (MoU) with Mongolia in the areas of geology and exploration, aiming to enhance resource security and diversify supply chains. This agreement follows India's increasing reliance on imports to meet the rising demand for copper and coking coal, essential for power generation, construction, and steelmaking industries.
The MoU will focus on geological studies and exploration activities, facilitating collaboration between Indian and Mongolian entities in the mining sector.

Jan 12, 2025

Piyush Goyal Launches 8th Edition of National Programme for Organic Production

India's total export value of organic farming has the potential to reach Rs. 20,000 crore in the next three years. This was stated by Union Minister of Commerce & Industry, Piyush Goyal during his address at the launch of 8th edition of National Programme for Organic Production (NPOP) at the Bharat Ratna C. Subramaniam Auditorium (NASC Complex), Pusa in New Delhi.

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