- Tuesday, February 25, 2025
By: Shubham Ghosh
HERE are news on Indian economy and business for Friday, January 12, 2024:
Naveen Patnaik, the chief minister of the eastern Indian state of Odisha, on Friday inaugurated the second International Craft Summit in the state’s Jajpur town on a virtual platform. He said Odisha’s civilisational journey is intricately woven with the threads of artistic expression. Patnaik added that the skills and craftsmanship of Odisha’s talented artisans have left an indelible mark, visible in every nook and cranny of the state. Patnaik said this summit will take the state’s reputation to an international level. He said the government is making sincere efforts to develop the state as a global hotspot for tourists, provide livelihoods and employment opportunities, and make the state attractive for investors.
Indian prime minister Narendra Modi on Friday said India’s longest sea bridge Atal Setu was a symbol of infrastructural prowess and reflection of Viksit Bharat (developed India) and asserted big-ticket development projects are no longer getting delayed as was the case before 2014 when only “mega scams” were a topic of discussion. The bridge, known as Atal Bihari Vajpayee Sewri-Nhava Sheva Atal Setu, is a six-lane trans-harbour sea link connecting Mumbai with its satellite city Navi Mumbai, and was inaugurated by Modi, more than seven years after he laid its foundation stone. The 21.8-kilometre-long engineering marvel, of which 16.5 km is in the sea, has been built at a cost of Rs 17,840 crore (£1.6 billion) and will cut the distance between Mumbai and Navi Mumbai from some hours to just 15-20 minutes.
Indian civil aviation minister Jyotiraditya Scindia on Friday said 75 new airports have been built in the country in the last 10 years as part of the Narendra Modi government’s vision to bring air travel within the reach of a vast number of common citizens, and asserted the key sector was on the upswing and still holds a lot of potential. The government plans to raise the number of airports in the country to 220 from the present 149 in the next five to seven years, he said. Earlier, people only heard about airlines getting shut down in India, but now things have changed and new air carriers are being established to make flying accessible to citizens, he said. Scindia was speaking at the formal inauguration of the aircraft Maintenance Repair Overhaul facility of AAR-Indamer at Mihan SEZ in Nagpur in the western state of Maharashtra.
The Narendra Modi government on Friday extended the tenure of deputy governor of the Reserve Bank of India (RBI), Michael Debabrata Patra, by one more year. The current tenure of Patra is to end on January 14. The appointments committee of the cabinet, headed by prime minister Narendra Modi, has approved Patra’s re-appointment as the RBI’s deputy governor for a further period of one year, with effect from January 15, according to an official notification. Patra was first appointed as a deputy governor in January 2020 for a three-year term. He looks after the monetary policy department and is also a member of the rate-setting Monetary Policy Committee. The three other deputy governors of the bank are M Rajeshwar Rao, T Rabi Sankar and Swaminathan J.
NTPC Green Energy Ltd (NGEL) on Friday announced the signing of two initial pacts for the development of green hydrogen projects in the western state of Gujarat. The NTPC’s arm signed the memorandums of understandings (MoUs) with Gujarat State Petroleum Corporation Ltd (GSPC) and Gujarat Pipavav Port Ltd (GPPL) These pacts were signed at the Vibrant Gujarat summit that concluded in state capital Gandhinagar on Friday. In a statement, NTPC said the pact with GSPC is for the blending of green hydrogen in the gas networks of GSPC and green hydrogen mobility by setting up of green hydrogen-fuelling stations in Gujarat. NGEL is a wholly-owned subsidiary of NTPC with an operational capacity of over 3.4 GW and 26 GW in pipeline, including 7 GW under implementation.
(With agencies)
