- Sunday, March 02, 2025
By: Shubham Ghosh
Here are news related to Indian economy & news for Tuesday, April 4, 2022:
India’s housing and urban affairs ministry has set up a 14-member committee headed by Amitabh Kant, former CEO of the country’s government thinktank NITI Aayog, to examine issues related to stalled real-estate projects and recommend various ways for their completion, PTI reported. According to an order issued by the ministry on Friday (31), the committee will submit its report within six months from the date of its first meeting. The 14-member panel will deliberate on the issues of legacy stalled projects and suggest ways to complete and hand over these projects to homebuyers in a time-bound manner, the order states.
Axis Bank Ltd CEO Amitabh Chaudhry is cautious over consumer demand in the Indian economy and said expectations for growth might have to be tempered a bit, the Financial Times reported on Tuesday. He said lenders need to be vigilant about the economic outlook despite the recent robust growth since India’s post-pandemic rebound loses steam and global economic volatility makes forecasting more difficult, the report added.
Digital payments firm PhonePe Pvt Ltd, backed by Walmart Inc, launched on Tuesday an app called Pincode on the Indian government’s open network to strengthen its e-commerce business, Reuters reported. The Open Network for Digital Commerce was launched in 2022 to enable small merchants and local stores across the country to access processes and technologies typically deployed by large e-commerce platforms such as Amazon and Walmart. Pincode, which will focus on hyperlocal commerce, is currently live only in the southern city of Bengaluru and available on the Google Play Store and the App Store, a statement from PhonePe said.
With the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) set to review the benchmark policy rates, apex industry chamber ASSOCHAM (Associated Chambers of Commerce and Industry of India) has urged the central bank’s MPC for a halt to more hikes with the lending rates amid uncertainties in the global business environment, ANI reported. Addressing his maiden press conference after taking over as the president, ASSOCHAM’s Ajay Singh elaborated on several key issues confronting the Indian industry, including the overall economic outlook, inflationary pressures and several unfolding opportunities for the young entrepreneurs as the country leverages the technology-led economic expansion with large job potential.
Naveen Patnaik, chief minister of the eastern Indian state of Odisha, on Tuesday began his business tour of Japan, where he is scheduled to meet Nippon Steel president Eiji Hashimoto, an official statement said, PTI reported. Patnaik will discuss avenues of collaboration between Nippon Steel and the Odisha government during the meeting in Tokyo. On his arrival in the Japan capital, Patnaik exuded confidence that his visit would further strengthen the relationship between Japan and Odisha and provide opportunities for both sides to explore avenues of mutual interest, the statement said.
Suzuki Motorcycle India Pvt Ltd on Tuesday announced the appointment of Kenichi Umeda as its new managing director (MD). Umeda succeeds Satoshi Uchida, who has completed his term as the MD of the company, Suzuki Motorcycle India Pvt Ltd said in a statement. He will be responsible for the further growing and strengthening Suzuki Motorcycle India’s position in the Indian and overseas markets.
