Tata Acquires Majority Stake in Pegatron’s iPhone Plant in Tamil Nadu Introduction: Tata’s Strategic Move in the Tech Sector In a significant development in India’s tech and manufacturing sector, Tata Group has acquired a majority stake in Pegatron’s iPhone manufacturing plant located in Tamil Nadu. Pegatron, a Taiwanese contract manufacturer, is one of the primary…
India Achieves Historic Rank in Global Patent Filings In a remarkable achievement, India has been ranked 6th globally in the World Intellectual Property Organization’s (WIPO) Patent Filings for 2023. This milestone showcases the country’s growing innovation ecosystem and its increasing contribution to global research and development. This achievement highlights India’s continued push toward becoming a…
City of Weavers: Which District of Haryana is Known for Its Rich Weaving Tradition? Haryana, a state known for its cultural richness and vibrant heritage, is home to many districts with unique identities. One such district, known as the “City of Weavers,” is Panipat. The district, renowned for its weaving industry, has earned this title…
Harsha Vardhan Agarwal to Take Over as FICCI President from Nov 21 Harsha Vardhan Agarwal, a prominent figure in the Indian business community, is set to assume the position of President of the Federation of Indian Chambers of Commerce and Industry (FICCI) starting November 21, 2024. His appointment follows the successful tenure of his predecessor,…
Shri JP Nadda Launches Scheme to Strengthen the Medical Device Industry In a move to bolster India’s medical device sector, Shri JP Nadda, the National President of the Bharatiya Janata Party (BJP), launched a new scheme aimed at strengthening the country’s medical device industry. The scheme seeks to enhance the growth and innovation of the…
Loss of a Luminary: Bibek Debroy, Chairman of PM’s Economic Advisory Council, Dies at 69 Bibek Debroy, a distinguished economist and the Chairman of the Prime Minister’s Economic Advisory Council (PMEAC), passed away at the age of 69. His death marks a significant loss to India’s economic policy landscape, where his insights and expertise shaped…
Surge in GST Collections: October Sees 8.9% Year-on-Year Growth In October 2024, India witnessed a notable surge in Goods and Services Tax (GST) collections, which reached a remarkable ₹1.87 lakh crore. This represents an 8.9% increase compared to the same month last year. The growth in GST revenue is indicative of the robust economic recovery…
FSIU Recommends Ashok Chandra as Next MD and CEO of PNB In a significant move for the banking sector, the Financial Services Institutions Bureau (FSIB) has recommended Ashok Chandra as the next Managing Director (MD) and Chief Executive Officer (CEO) of Punjab National Bank (PNB). This recommendation comes at a crucial time when PNB aims…
Drop in India’s Foreign Exchange Reserves to $688.26 Billion India’s foreign exchange reserves have witnessed a notable decline, now standing at $688.26 billion as of October 20, 2023. This decrease, amounting to $4.84 billion, is a significant concern for the Indian economy, as these reserves play a crucial role in maintaining the country’s financial stability…
MUDRA Loan Limit Doubled to ₹20 Lakh: A Boost for Entrepreneurs The Government of India has announced a significant increase in the MUDRA (Micro Units Development and Refinance Agency) loan limit, doubling it from ₹10 lakh to ₹20 lakh. This decision aims to bolster the micro, small, and medium enterprises (MSME) sector, providing entrepreneurs with…
