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PM will meet 15 leading global fund houses.

Oct 22, 2020

PM Narendra Modi will soon meet representatives of 15 leading global fund houses, a top finance ministry official said on Wednesday. The move is aimed at attracting long-term capital to help revive the economy.
 
'You actually have these fund houses from all over the world getting in touch with us and saying if you can provide some good assets which require patient capital and gives not very high returns but stable returns. So that is another area we are looking at,' economic affairs secretary Tarun Bajaj said at a virtual event conducted by the Confederation of Indian Industry (CII), while announcing the PM’s meeting with the fund houses to get a better view from them.
    
Source: The Times of India



Govt open to further stimulus to lift economy, says DEA Secretary.

Oct 22, 2020

The government is open to further stimulus measures to boost the coronavirus-hit economy, Economic Affairs Secretary Tarun Bajaj said on Wednesday.
 
Finance Minister Nirmala Sitharaman had announced a slew of measures to spur demand and ramp up capital expenditure earlier this month. This was the third stimulus package since the outbreak of the COVID-19 pandemic.
 
The government had announced a Rs 1.70 lakh crore Pradhan Mantri Garib Kalyan Yojana (PMGKP) in March to protect the poor and vulnerable sections from the impact of COVID-19 crisis.
    
Source: The Economic Times



India, Vietnam Business Forum held in virtual mode, reaffirmed growing bilateral trade relations between the nations.

Oct 22, 2020

The India Vietnam Business Forum was held via video conference on October 20, 2020. During the meet, both sides reaffirmed the growing bilateral trade and the investment ties between both nations.
 
While speaking on the occasion, Riva Ganguly Das, Secretary (East), External Affairs Ministry highlighted that the trade between India and Vietnam has grown steadily and presently stands at $12.34 billion in 2019-20.
 
The Business Forum between India and Vietnam was co-organized by the Vietnam Chamber of Commerce and Industry and India Chamber of Commerce.
    
Source: Jagran Josh



India invites British government to explore huge business opportunities in North East.

Oct 22, 2020

The Development of North East Region minister, Dr. Jitendra Singh invited the UK government and the private sector to explore various forms of business opportunities present in India’s North-East Region.
 
Dr. Jitendra Singh during a virtual meeting with the officials of the British High Commission stated that both India and UK are two vibrant democracies that enjoy mutually rewarding business relationships. He added that both countries can work together in exploiting and exploring new opportunities in the North East region.
    
Source: Jagran Josh



India sees recovery in overall export of oilmeals during H1.

Oct 22, 2020

Exports were reported at 1.3 billion tonnes during April-Sept
The Solvent Extractors’ Association (SEA) of India’s data has reported a recovery in the overall export of oilmeals during April-September period.
    
Source: Business Line



GOI Approves MIS for Procurement of Kashmir Apple.

Oct 22, 2020

Jammu & Kashmir Lieutenant Governor, Manoj Sinha thanked Prime Minister, Narendra Modi and the Union Cabinet for approving Market Intervention Scheme (MIS) for procurement of apples in the Union Territory. The move will ensure optimum prices to the Apple farmers and give necessary fillip to the economy.
 
'The scheme is a great relief for apple growers. It will provide a comprehensive insurance cover against any obstacle thus helping in stabilizing the income of the Apple farmers. It will also address all issues related to marketing and transportation, in addition, to provide optimum returns to apple growers' said the Lt Governor.
    
Source: Kashmir Observer



India recorded export growth of 4% in September: UNCTAD.

Oct 22, 2020

Export growth declined in India in the third quarter of 2020 relative to the same quarter last year but picked up pace in September, according to a global trade update by the UN.
 
The UNCTAD’s new global trade update said that global trade recorded a 5 per cent drop in the third quarter of 2020 compared with the same period last year. This marks an improvement on the 19 per cent year-on-year plunge recorded in the second quarter, and the United Nations Conference on Trade and Development (UNCTAD) expects the frail recovery to continue in the fourth quarter.
    
Source: The Hindu



Govt relaxes import norms for onion to boost domestic supply, check prices.

Oct 22, 2020

The government on Wednesday relaxed import norms till December 15 to facilitate the early shipment of onion to boost the domestic supply and check the retail prices of the key kitchen staple. The Union Consumer Affairs Ministry, in a statement, said it will also offload more onion from its buffer stock in the open market to contain price rise.
 
An estimated Kharif crop of 37 lakh tonne is likely to start arriving in the Mandis that will give reprieve to the rising prices, it added.
 
According to the ministry, a sharp spike in onion prices in the past 10 days by Rs 11.56/kg has taken the all-India retail price of the commodity to Rs 51.95/kg, which was 12.13 per cent higher than the last year's price of Rs 46.33/kg.
    
Source: India TV News



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