- Thursday, February 27, 2025
By: Shubham Ghosh
HERE are news in brief related to Indian economy and business for Friday, August 11, 2023:
India’s industrial output growth rate fell to a three-month low of 3.7 per cent year-on-year in June, data from the statistics ministry showed on Friday. Analysts in a Reuters poll had forecast an expansion of five per cent. Industrial output for May was amended to 5.3 per cent from 5.2 per cent. Manufacturing, which accounts for nearly 17 per cent of the Indian economy, went up 3.1 per cent year-on-year in June, slowing down from a revised 5.8 per cent annual growth rate recorded in May. Generation of electricity during June went up 4.2 per cent over the same month a year earlier, while mining activities increased 7.6 per cent, the data showed.
India is seeking consensus among G20 nations against fugitive economic offenders to ensure their faster extradition and recovery of assets, both domestically as well as abroad. This was stated in New Delhi on Friday by minister for personnel, public grievances and pensions, Jitendra Singh, in an interview with public broadcaster Doordarshan News before leaving for Kolkata in the eastern state of West Bengal for the G20 ministerial meet and the final meeting of G20 Anti-Corruption Working Group to be held on Saturday (12).
Use of trademarks as keywords by Google in its Ads Programme does amount to “use” under the intellectual property law and, in case of infringement, it cannot claim benefit of “safe harbour” from liability under the law, the Delhi high court has said. The court’s observations came on an appeal by Google against the order of a single judge bench on a lawsuit by Agarwal Packers and Movers Ltd alleging that the use of its trademark and its variations as keywords on Ads Programme resulted in the diversion of traffic from the website of the plaintiff to that of the advertiser.
Reserve Bank of India’s (RBI) governor Shaktikanta Das on Friday pitched for the “expeditious completion” of the 16th general review of the quotas at the International Monetary Fund (IMF), pointing out that the same can help the multilateral lender assist distressed countries in a better way. Addressing a G20 seminar on the global economy, organised by the finance ministry and the RBI in Mumbai, Das also said the funding conditions of the IMF are such that they make the country that needs the money urgently look elsewhere because those conditions come with lots of riders and attendant stigmas.
The Enforcement Directorate (ED) has arrested Prem Prakash, an alleged local muscleman, as part of its ongoing money laundering probe linked to a land “grabbing and fraud” case in the eastern Indian state of Jharkhand, official sources said on Friday. Prakash was arrested by the ED in August last year in a separate money laundering case being probed in the state related to alleged illegal mining. He was lodged in a jail in judicial custody here. He was arrested in the alleged land scam case after the ED moved a local court and sought his custody, the sources said. Prakash is stated to have political links. This is the 14th arrest in this case. T
(With agencies inputs)
