- Monday, April 28, 2025
By: Shubham Ghosh
Here are news in brief related to Indian economy and business for Friday, December 30, 2022:
The Indian government will launch a Digital India Innovation Fund that will support deeptech startups, the country’s minister of state for electronics and IT Rajeev Chandrasekhar said on Friday, PTI reported. The minister made these comments during his address to over 1,000 college students as part of the ‘New India for Young India: Techade of Opportunities program’ at the Catholic Bishop House Campus, Thamarassery, Kerala, an official statement said. Chandrasekhar said the government will launch a Digital India Innovation Fund that will support deeptech startups.
The National Geospatial Policy unveiled by the Indian government asks ministries and departments to “increasingly engage” the private sector for creation and development of geospatial data required by them under the liberalised regime rather than use Survey of India as an intermediary, PTI reported. The National Geospatial Policy, notified by the Department of Science and Technology on Thursday, also spelt out 13 milestones for the country to achieve to have a thriving geospatial industry involving private enterprises, that include creating a high accuracy digital elevation model for the entire country by 2030 and digital twins of major cities and towns by 2035.
The India government may review its stance on Chinese investments to help global companies looking to relocate to the country, CNBC-TV18 reported on Friday, citing government sources, Reuters said. Several global firms are exploring a China Plus One strategy to avoid supply chain bottlenecks as the world’s second-largest economy grapples with a surge in Covid-19 infections. Multinational companies are interested in pursuing manufacturing in India, but also want to continue existing Chinese joint ventures, CNBC-TV18 reported. IPhone maker Apple wants China’s BYD to be permitted to sign a joint venture with an Indian company to move iPad production to the country and the government might consider the move, the report added.
Indian external affairs Minister Subrahmanyam Jaishankar on Friday underlined that during its G20 presidency, India intends to take up the issue of affordability and accessibility to energy, foodgrains and fertilisers “very strongly” as the economies of the Global South have been impacted, PTI reported. India formally assumed the G20 presidency on December 1. The next G20 leaders’ summit at the level of heads of state/government is scheduled to be held on September 9 and 10 next year in New Delhi. Addressing a business event in Nicosia, Jaishankar, who is on his first official visit to Cyprus as India and Cyprus celebrate 60 years of diplomatic relations, noted that the efficiency and the delivery of global supply chains is a common concern today for all countries in the world.
Santosh Shukla, director general of South Asian Chamber of Commerce and Industry (SACCI) said that Anjali Bharadwaj has been nominated as Vice President of SACCI, India, ANI/PNN reported. The certificate of nomination was bestowed by Bhawani Rana, former president, Federation of Nepalese Chambers of Commerce & Industry (FNCCI), Nepal. Under her guidance and visionary leadership, SACCI will achieve great heights in all spheres of development. In pioneering leadership and new responsibility to develop and expand the missions of the association across the South Asian economic scenario of The South Asian Association for Regional Cooperation countries.
Eight eco parks have been constructed recently in different parts of the country and two more such parks will be completed in 2022-23, according to a government statement, ANI reported. The ministry of coal on Friday said this was part of the ongoing efforts of the coal ministry to develop eco parks on reclaimed land and to promote mine tourism. In a recent development, Indian coal minister Pralhad Joshi inaugurated Jhurey/Bal Gangadhar Tilak Eco Park of Western Coalfields Ltd (WCL) in October 2022. On these lines to promote tourism, NLCIL has signed an agreement with Pondicherry Tourism Development Corporation (PTDC) recently to promote ecotourism at Mine-I and Mine-II and showcase sustainable mining activities.
