Page-23 of Business

5th India-CLMV Business Conclave held at Phnom Penh, Cambodia

May 25, 2018

The 5th India-CLMV (Cambodia, Lao PDR, Myanmar and Vietnam) Business Conclave was held at Phnom Penh, Cambodia. It was jointly organised by Ministry of Commerce & Industry along with Ministry of Commerce of Cambodia. The Confederation of Indian Industry (CII) ..

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NITI Aayog ink SoI with ABB India to provide AI, big data and connectivity solutions

May 24, 2018

NITI Aayog and ABB India have signed Statement of Intent (SoI) to help India leverage power of advanced technologies, including robotics and artificial intelligence. Under it, two parties will work towards making key sectors of Indian economy ready for digitalised ..

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Strategic Petroleum Reserve: India receives first crude oil cargo from UAE for Mangalore reserve

May 22, 2018

India received first consignment of 2 million barrels of crude oil from United Arab Emirates (UAE) for its strategic petroleum reserve (SPR) at Mangaluru (on west coast), Karnataka. This first consignment from UAE fill one of two strategic reserve caverns ..

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MCX launches India’s first copper options contracts

May 22, 2018

India’s largest commodities exchange platform, Multi Commodity Exchange of India Limited (MCX) launched country’s first copper options contracts. The option contract will provide physical market participants additional instrument to hedge their price risk. The copper option contracts were launched with ..

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India is 6th wealthiest country in the world

May 21, 2018

According to AfrAsia Bank Global Wealth Migration Review, India is the sixth wealthiest country in the world with total wealth of $8,230 billion. US is richest nation globally with total wealth of $62,584 billion. Total wealth refers to private wealth ..

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India drags US to WTO over imposition of duties

May 20, 2018

India has dragged United States (US) to World Trade Organisation’s (WTO) Dispute Settlement Mechanism over imposition of import duties on steel and aluminium. India stated that decision will of imposition of import duties impact its exports of these products to ..

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National Mineral Development Corporation wins 2018 S&P Global PLATTS Global Metals Award in CSR category in London

May 20, 2018

The National Mineral Development Corporation (NMDC Ltd) has bagged the S&P Global Platts Global Metals Award 2018 in the corporate social responsibility category at London Grosvenor Square Marriott Hotel in the UK. This is the first time since inception of ..

Commerce Ministry establishes Directorate General of Trade Remedies  

May 18, 2018

Union Ministry of Commerce and Industry issued notification for creation of Directorate General of Trade Remedies (DGTR) in Department of Commerce. In this regard amendments were made in Government of India (Allocation of Business) Rules, 1961. Directorate General of Trade ..

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India's economy is projected to grow 7.6% in 2018-19: UN WESP

May 18, 2018

According to UN World Economic Situation and Prospects (WESP), India’s economy is projected to grow 7.6% in fiscal year 2018-19, making it fastest growing economy in the world. GDP growth in India is expected 7.5 and 7.6% in fiscal years ..

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RBI tweaks norms for setting up of IFSC Banking Units

May 18, 2018

The Reserve Bank of India (RBI) has modified norms for setting up International Financial Services Centres (IFSC) Banking Units (IBUs) by banks in IFSCs. In April 2015, RBI had formulated scheme for setting up of IFSC IBUs by banks in ..

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