As per a report, India added 521 megawatts (MW) of rooftop solar capacity in the second quarter (Q2) of the calendar year (CY) 2021, a 53 per cent increase quarter-on-quarter (QoQ) compared to 341 MW installed in Q1 2021 (January-March).
As per Swiss customs data, Swiss exports of gold to India jumped to a five-month high in August while shipments to China fell. Switzerland is the world’s largest bullion refining centre and transit hub. A total of 70,294 kg of gold was shipped to India in August.
As per the ministry, FDI equity inflows grew by 112 per cent in the first four months of 2021-22 ($20.42 billion) compared to the year ago period ($9.61 billion). Automobile industry leads as the top sector, accounting for 23% of the total FDI equity inflows followed by computer software & hardware (18%) and services sector (10%), respectively.
The Tamil Nadu government has signed Memorandum of Understanding for 24 projects worth Rs.2,120.54 crore. Chief Minister M K Stalin said the government's goal is to increase the state's exports to $100 billion by 2030. The state government's MSME - TIPB entered into an MoU with Flipkart/Walmart for promotion of e-commerce among MSMEs in Tamil Nadu through a supplier development programme.
As per data, Japan's economy grew 0.3% in the three months to June, slightly more than expected. The growth came after a contraction in the previous quarter. Economists surveyed by Bloomberg had forecast just 0.1 percent quarter-on-quarter growth.
As per data, US employers posted a record 10.1 million job openings in June. It rose from 9.5 million in May. A record low 1.3 million people were laid off or fired in June.
As per NCAER, the Indian economy could see annual growth in the ballpark range of about 10%. The reasons for this perceived optimism are: fewer supply disruptions; increased pent-up demand in the traditional and contact-intensive services; and a buoyant global economy.
The government said India’s export of agricultural and processed food products rose 21.8% on year in April-August. The exports of products were $7.9 billion in the first five months of the fiscal year as against $6.4 billion a year ago.
As per a report, hiring activity witnessed a marginal growth of 1% in August, compared to the previous month, mainly due to decline in job postings in sectors. Overall job postings have improved by 14% y-o-y.
As per a report, India has improved its ranking in the latest Global Innovation Index (GII), moving up two positions to 46. Switzerland took the first spot, followed by Sweden, the US and the UK. Among Asian economies, South Korea jumped to the fifth position, up from 10 last year. China was in the 12th position.
As per RBI survey, exports of software services, including services delivered by foreign affiliates of Indian companies, saw a 2.1% growth during 2020-21 and stood at $148.3 billion. India's exports of software services (excluding exports through commercial presence) are estimated at $133.7 billion during 2020-21. Software exports by foreign affiliates through commercial presence, stood at $14.6 billion in 2020-21.
The finance ministry will start preparing the annual Budget for 2022-23 from October 12. The Budget Estimates (BE) for 2022-23 will be provisionally finalised after the expenditure secretary completes discussions with other secretaries and financial advisers. Pre-Budget meetings will begin from October 12 and continue till the second week of November, as per a circular.
As per International Copper Association, India's copper import which increased 26% to 60,766 tonne in June quarter of 2021-22 is expected to rise further in the remaining part of the financial year. Country's copper imports may touch 3 lakh tonne as economic growth picks up momentum.
As per Indian Tea Association, import of Kenyan tea climbed to 5.02 million kg in the first six months of 2021. Kenyan prices are around $1.7 per kg as compared to India’s price of $2.5 per kg. A similar trend has been noticed in the case of teas coming from Nepal, which is duty-free.
Amid inflationary pressure on inputs, shortage of components and a threat of a third wave of the pandemic, the consumer durable industry is expecting double-digit growth in the festive season sales this year. Festive season usually contributes 30% of annual sales for the companies.