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.
Union minister Nitin Gadkari said that the centre is expecting toll revenues worth Rs 1,000 to 1,500 crore every month once the much-awaited Delhi-Mumbai Expressway becomes operational in 2023. He also described it as a gold mine to generate income.
SEA said that India's export of oilmeal, used as animal feed, declined 4 percent to 1,64,831 tonne in August from the year-ago period. Oilmeal exports stood at 1,71,515 tonne in August 2020.
BJP national vice president Radha Mohan Singh said that 12 crore farmers have benefited so far from the Pradhan Mantri Kisan Samman Nidhi Yojana and 2.5 crore of them are from Uttar Pradesh.
Agriculture Minister Narendra Singh Tomar at G20 agriculture meeting said that there is a need to increase investment in agricultural research and development amid the challenges of climate change and expected increase in food demand by 2030. The demand for foodgrain is expected to rise to 350 million tonnes with likely increase in India's population to 150 crore by 2030-32.
P-notes are issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to be part of the Indian stock market without registering themselves directly. According to SEBI data, the value of P-note investments in Indian markets, equity, debt and hybrid securities, was at Rs 97,744 crore in August-end compared to Rs 85,799 crore in July-end.
In order to meet rising demands, the Centre has urged Odisha and its neighbouring states to explore untapped mineral resources. The Geological Survey of India (GSI) made a presentation on potential areas for mineral exploration in Odisha, West Bengal and Bihar and Jharkhand at a workshop in Bhubaneswar.
RBI said, "The trajectory of inflation is shifting down more favourably than anticipated.” It also said that “as pandemic scars heal and supply conditions are restored with productivity gains, a sustained easing of core inflation can be expected, which will reinforce the growth-supportive stance of monetary policy.”
Britain hopes that it will be able to soon complete the negotiations for the proposed Free Trade Agreement (FTA) with India. There have been productive discussions on how the trade pact can act as a means to connect the two economies and to double bilateral trade over the next decade.