- Tuesday, April 29, 2025
By: Shubham Ghosh
Here are news in brief related to Indian economy and business for Wednesday, December 7, 2022:
The Indian Railways (IR) on Wednesday said it has envisioned to achieving net-zero carbon emission by 2030, Asian News International reported. According to the statement from the railway ministry, about 142 megawatt (MW) of solar plants (both on rooftops and on its vacant land) and about 103 MW of wind power plants have been commissioned till October 31, 2022. It said it also started usage of insulated gate bipolar transistor (IGBT)-based 3-phase propulsion system with regenerative braking in locomotives, electrical multiple unit (EMU) trains, mainline electric multiple unit (MEMU) trains, Kolkata Metro rakes and electric train sets.
GM is all set to participate in the coveted and biggest exhibition for design and Architecture – Delhi Acetech 2022, commencing from December 8 to 11, ANI/PNN reported.This much-awaited mega exhibition is a 4-day event and will take place in Delhi’s Pragati Maidan location. After a successful wrap-up of the most recognised Acetech 2022 Exhibition in Mumbai, now GM is now gearing up to participate in Acetech Delhi, where it will occupy the largest stall space of over 6500 square feet at the forthcoming premium event and will unveil its exclusive products and latest innovations in the home electrical space at the event. Like the latest range from avant-garde designs in switches to decorative lights. The GM stall will also entail a cafeteria for the visitors.
India’s central bank, the Reserve Bank of India, on Wednesday raised its key policy rate by 35 basis points to 6.25 per cent, the highest in over three years and its fifth straight increase, and said there will be no let up in its fight to tame high inflation, Reuters reported. While there have been indications recently that price pressures may be moderating, RBI governor Shaktikanta Das said the main risk was that inflation could remain pervasive and elevated, reinforcing market views the bank could hike rates again in months ahead, the report added.
India’s Food Safety and Standards Authority of India (FSSAI) has asked state food safety commissioners to ensure proper due diligence while seizing food products, the Hindu BusinessLine reported. The regulator wrote to the state food safety commissioners and regional directors on Tuesday after learning about instances where food safety officers started seizures of food products without any reasonable basis, the report added. “It has been brought to the notice that the power to seize articles of food is being resorted to…. by food safety officers even in case of minor violations and without any reasonable grounds to believe that the said food article is adulterated or unsafe,” the letter said. The letter also said that food safety officers should “strictly adhere to the procedural requirements” as specified by the regulations, “so as to avoid unnecessary complaints/ litigations by food business operators/associations”.
Members of the G20 spoke over ways to address disruptions and promote security of food, fuel and fertiliser supplies, on the third day of the first Sherpa Meeting of India’s G20 presidency, in Udaipur, Rajasthan, on Tuesday (6), the Hindu BusinessLine reported. “Strengthening and enhancing the mandate and resources of multilateral development banks, reforming the WTO, the importance of green hydrogen in achieving green energy transition including for hard-to-abate sectors and reformed multilateralism for greater peace and harmony, were some of the major areas of discussion,” according to a statement issued by India’s ministry of external affairs. India assumed the one-year presidency of the international grouping on December 1 and set the ball rolling by hosting the three-day G20 Sherpas’ meeting in Rajasthan. India’s G-20 Sherpa Amitabh Kant, on Tuesday, provided an overview of India’s G20 priorities across the six different working groups on agriculture, trade and investment, employment, anti-corruption, tourism and culture.
