- Sunday, September 08, 2024
By: Shubham Ghosh
HERE are news in brief related to Indian economy and business for Tuesday, September 5, 2023:
Indian finance minister Nirmala Sitharaman on Tuesday said talks were underway on a global framework to regulate crypto assets, adding that cryptocurrencies could not be regulated efficiently without the cooperation of all nations. “India’s (G20) presidency has put on the table key issues related to regulating or understanding that there should be a framework for handling issues related to crypto assets,” she said at an event in India’s financial capital of Mumbai. The G20 leaders’ summit will take place in New Delhi on September 9 and 10.
India’s Narendra Modi government and the central bank are “very ambitious” about the Unified Payments Interface (UPI) and its other digital payments products and wants it to be “everywhere”, Moneycontrol reported citing sources. “We want to be everywhere. Obviously, to begin with, some countries have shown interest so we are in talks with them. But our eventual objective is very ambitious. We want to be there in every country, be it UPI or other payments and digital products,” the source was quoted as saying on Tuesday. “The effort to internationalise the UPI is going on. Agreements have been signed with some countries, discussions are on with other countries. We also want to link the UPI with other countries’ fast payments systems,” the person added.
The Enforcement Directorate (ED), India’s economic crime-fighting agency, on Tuesday said in a recent action, it has seized gold bullion and jewellery worth Rs 2.12 crore (£203,091) in the northern state of Punjab as part of a money-laundering probe linked to an alleged tender scam involving former state minister and Bharat Bhushan Ashu. About 4 kilograms of these gold valuables were seized from bank lockers in Ludhiana in the state on Monday (4) and the assets belong to various accused involved in the case. These lockers were frozen by the probe agency on August 24, when it launched raids against Ashu and some others under provisions of the Prevention of Money Laundering Act.
India has raised the stature of the G20 grouping, giving it a certain recognition of its ability to influence people in the world and the forum will be inspired in future by what has been done in the country during its presidency, Maruti Suzuki India chairman R C Bhargava said on Tuesday. No other nation has taken the opportunity like India did to showcase its development, raise the profile of the country and also to use the G20 platform to make a lot of changes, and improvements in attitudinal differences in different parts of the country under the leadership of prime minister Narendra Modi, he told PTI. At a time when the world is facing a number of problems both economically and politically, India has taken the lead in trying to move the countries of the world towards recognising how they can deal with these problems, he added.
India’s online furniture marketplace Pepperfry has appointed co-founder Ashish Shah as its new chief executive officer (CEO), days after the untimely demise of former CEO Ambareesh Murty last month. Shah co-founded the company with Murty in 2012 and had served as its chief operating officer before taking over as the CEO. Murty died of a cardiac arrest in Leh on August 7 while on a motorcycle trip. Pepperfry said it raised a fresh funding worth $23 million (£18.3 million) from existing investors including institutional investors and family offices. In a statement issued on Tuesday, Pepperfry said it has undertaken several initiatives in the past few months that have set it towards a sustained path of profitability — a milestone that is “now within close reach”.
India saw a 29 per cent rise in per capita coal emissions in 2022 as compared to 2015, while G20 per capita coal emissions rose by about nine per cent from 1.5 tonnes of carbon dioxide in 2015 to 1.6 tonnes of carbon dioxide in 2022, according to a new analysis by global energy think tank Ember based in London, UK. The annual report on ‘Changes in per capita coal power emissions of G20 countries’ also found that 12 out of 20 G20 economies saw declining per capita coal emissions since 2015. “However, G20 per capita coal emissions slightly increased by about nine per cent from 1.5 tonnes of carbon dioxide in 2015 to 1.6 tonnes of carbon dioxide in 2022. India saw a 29 per cent increase in seven years in per capita coal emissions compared to 2015,” said the report which focuses on global transition to clean electricity.
(With agencies inputs)
