- Tuesday, February 25, 2025
By: Shubham Ghosh
HERE are news related to Indian economy and business for Monday, January 15, 2024:
India has moved from women-centric development to women-led development under the leadership of Prime Minister Narendra Modi, federal ministers Smriti Irani and Hardeep Singh Puri said in Davos, Switzerland, on Monday. Speaking after inaugurating the Women Leadership or WeLead Lounge on the sidelines of the World Economic Forum Annual Meeting, Irani. who is India’s women and child development minister, said it gives her immense satisfaction to see this lounge and a huge Indian presence on the main Promenade street of Davos. The lounge has been set up by her ministry in association with the Bill and Melinda Gates Foundation and Confederation of Indian Industry.
The proportion of CEOs who believe global economic growth will improve over the next 12 months has more than doubled since last year, the annual PwC Global CEO Survey showed on Monday. The survey, released on the first day of the World Economic Forum Annual Meeting in Davos, also showed that almost half of CEOs do not believe their businesses will be viable in a decade amid acceleration of technology and climate pressures. The survey, which interviewed over 4,700 CEOs across 105 countries and territories, found that 38 per cent of CEOs are optimistic about global economic growth prospects in the next one year, up from 18 per cent in 2023.
India’s domestic airlines carried 15.2 crore (152 million) passengers in 2023 as against 12.32 crore (123.2 million) in 2022, thereby registering an annual growth of 23.36 per cent, according to the country’s civil aviation regulator Directorate General of Civil Aviation (DGCA). In December, the passenger volume rose from 1.27 crore (12.7 million) to 1.37 crore (13.7 million) year-on-year, data from the regulator showed. The increased passenger figures indicated a growing demand for air travel and highlighted the positive trajectory of the aviation sector, the DGCA said. The consistent growth is a testament to the collective efforts of airlines, airports, and the Ministry of Civil Aviation in fostering a safe, efficient, and customer-centric aviation ecosystem.
In what can be seen as a key indicator of India’s progress towards becoming a developed nation, as many as 24.82 crore (248.2 million) individuals in India moved out of multidimensional poverty over the past nine years, according to a report by government think tank NITI Aayog. According to the paper, India has registered a significant decline in multidimensional poverty in India from 29.17 per cent in 2013-14 to 11.28 per cent in 2022-23 — a reduction of 17.89 percentage points.
Uttar Pradesh registered the largest decline in the number of poor with 5.94 crore (59.4 million) people escaping multidimensional poverty during the last nine years followed by Bihar at 3.77 crore (37.7 million), Madhya Pradesh at 2.30 crore (23 million) and Rajasthan at 1.87 crore (18.7 million).
Global aerospace major Boeing has opened its first distribution centre in India — in Khurja in the northern state of Uttar Pradesh. The 36,000-square-foot parts warehouse will support regional aviation customers in maximising fleet utilisation.
The aerospace company, in a release issued on Monday, asserted that the new site is part of its continued commitment to expanding its presence in the country and delivering an efficient, cost-effective, and local solution. “The Boeing India Distribution Center illustrates Boeing’s commitment to supporting the growth of this market, aligned with the government’s Aatmanirbhar Bharat vision. This center will support the emergent needs of spare parts for Boeing aircraft in India, reducing lead times, improving availability, and supporting the MRO industry here,” said Salil Gupte, president, of Boeing India.
(With agencies)
