Author: Bhakti Narayanan

Prime Minister Mr. Narendra Modi marked a historic milestone for Lakshadweep by inaugurating the region’s first on-grid solar project in Kavaratti. Developed by the Solar Energy Corporation of India Limited (SECI), this project features an impressive combined solar capacity of 1.7 MW, complemented by a state-of-the-art 1.4 MWh Battery Energy Storage System (BESS). This undertaking marks a significant leap towards sustainable energy solutions, aiming to reduce dependency on the Diesel-based Power Generation plant in Kavaratti. Lakshadweep Energy Development Agency (LEDA) will now harness power from these solar installations, symbolizing a transformative shift from diesel-based power to an environmentally friendly energy…

Former US President and Republican frontrunner, Donald Trump, has chosen to keep his Vice Presidential pick undisclosed for the 2024 election, eliminating Indian-American rival Nikki Haley from consideration. Trump addressed this decision during a rally in Concord, asserting that while Haley is “OK,” she lacks the presidential qualities he seeks in a running mate. The former President’s remarks suggest that Haley is unlikely to be selected as the Vice Presidential candidate. Trump emphasized the impact of certain statements on a candidate’s eligibility for the VP role, stating, “When you say certain things, it sort of takes them out of play.”…

External Affairs Minister (EAM) S Jaishankar is set to lead the Indian delegation at the 19th Summit of the Non-Aligned Movement (NAM) in Kampala, Uganda, on January 19-20. Preceding the summit, there will be deliberations at the Ministerial and Senior Officials levels. Meanwhile, Minister of State (MoS) for External Affairs Rajkumar Ranjan Singh is representing India at the NAM Foreign Minister’s meeting, while MoS External Affairs V Muraleedharan will attend the G-77 Third South Summit in Kampala on January 21-22. The theme of the 19th NAM Summit, under Uganda’s leadership, is ‘Deepening Cooperation for Shared Global Affluence,’ bringing together over…

Union Minister Piyush Goyal chaired the second meeting of the reconstituted Board of Trade in New Delhi, announcing the initiation of the Trade Connect ePlatform. This intermediary platform aims to connect Indian exporters with international stakeholders, providing support for new exporters, market information, and insights into free trade agreements (FTAs). Mr. Goyal stressed utilizing FTAs, promoting Startup/MSME exports, and enhancing the service sector. The session aimed at reaching the $2 trillion export goal by 2030 and deliberating on priorities in the 2023 Foreign Trade Policy. The Board of Trade offers a forum for ongoing discussions, consultations, and guidance to the…

In 2023, India became a significant recipient of global liquidity, with around US$15 billion flowing into Indian equities from global mutual funds, as reported by Elara Capital. The report highlighted the substantial foreign inflows, positioning India alongside the United States and Japan as primary beneficiaries, while Europe witnessed outflows. Data indicated that the US, India, Japan, and Hong Kong secured the top spots for the largest recipients of global funds in 2023, with China, Brazil, and Mexico following. Until September 2023, mid-cap funds in India experienced robust inflows, constituting nearly 40% of the total funds. However, the subsequent three months…

India is on track to claim the top spot as the leading global producer of lentils in the 2023-24 crop year, with an expected surge in production to about 1.6 million tonnes, as indicated by Consumer Affairs Secretary Mr. Rohit Kumar Singh. The government’s goal of achieving self-sufficiency in pulses by December 2027 is in progress, yet a dependence on imports is foreseen for some time. The projected lentil production for 2023-24 represents a substantial increase since 2017-18, propelled by a noteworthy rise in Minimum Support Price (MSP) and favorable market dynamics, encouraging increased cultivation by farmers. Despite initial higher…

Reserve Bank of India Governor, Mr. Shaktikanta Das, commended the substantial recovery of the Indian banking and financial sector following the Covid pandemic. Speaking at the Mint BFSI Summit in Mumbai, he highlighted the pivotal role played by the Indian banking system in the country’s recent economic achievements. Emphasizing its resilience, Mr. Das stated that the system is now well-prepared to actively contribute to India’s growth story in the upcoming years. Preserving the trust built over time in the banking and financial sector was underscored as crucial for India’s economic resilience and recovery. Addressing the commitment to maintain this trust,…

Uttar Pradesh Chief Minister Yogi Adityanath directed the closure of educational institutions on January 22 for the Ram Temple ‘Pran Pratishtha’ ceremony, declaring it a holiday. He also announced the closure of liquor shops on this day, considering the event as a “national festival.” The state government, under CM Yogi’s leadership, is preparing for a smooth transportation experience for devotees during the ceremony. Taxi and tourist bus reservations will be arranged as needed, with instructions for safe driving, uniform wearing, and cleanliness. The government aims to prioritize convenience and safety during this significant event in Ayodhya. Transport Commissioner Chandra Bhushan…

Chef Robotics has strategically appointed Somudro Gupta, formerly the head of autonomous vehicle engineering at Embark Trucks, as its head of software, aiming to advance the integration of artificial intelligence (AI) in the food industry. Gupta, with a significant role in the development of autonomous vehicle technology during his five-year tenure at Embark, previously served as the US Motion Planning Lead for Jack, a self-driving Audi A7, at the Volkswagen Electronics Research Laboratory. Expressing enthusiasm about his new role, Gupta highlighted his experience in autonomous driving, emphasizing its applicability to deploying intelligent robots in the real world. He believes that…

The National Statistical Office (NSO) has presented an optimistic growth projection of 7.3% for the Indian economy in the fiscal year 2023-2024. This surpasses the Reserve Bank of India’s estimate of 7% and relies on the expectation of a recovery driven by investments in the fifth-largest global economy. The forecast stands higher than the prevailing Street estimates, where most economists anticipate a GDP growth ranging between 6.5% and 6.7% for the ongoing financial year, following a 7.2% expansion in FY23. Data released on November 30, 2023, indicates significant growth in the first half of FY24, with the Indian economy expanding…