Govt aims at Rs. 1 tn seafood exports by 2029
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Cabinet approves Rs 12,461 crore for hydropower development
The Union Cabinet has approved Rs 12,461 crore for developing 31,350 MW of hydropower projects between FY25 and FY32, aiming for 500 GW of renewable energy by 2030. The revised scheme expands budgetary support for essential infrastructure and applies to projects over 25 MW, including private and pumped storage projects.
LEAD STORY
Govt aims at Rs. 1 trillion seafood exports by 2029
To help India achieve developed nation status by 2029, the government will focus on reinforcing the fishing sector’s foundation over the next five years. It is also providing one lakh transponders to fishermen for better communication with their families and local authorities while at sea. Currently, India exports seafood worth over Rs 60,000 crore to about 130 countries.
India’s GCCs driving global growth and innovation
India’s Global Capability Centres (GCCs) are set to grow from US$ 64.6 billion in 2024 to US$ 99-105 billion by 2030, with the number of companies rising from 1,700 to around 2,200. This growth is driven by India’s talent pool, attracting multinational firms like Chevron and Sanofi to invest US$ 1.4 billion in expanding their GCCs. Sectors like retail, healthcare, and pharma are expected to lead the expansion, while leadership roles in GCCs are predicted to grow from 6,500 to over 30,000 by 2023.
HIGHLIGHT OF THE DAY
For the second consecutive year, India topped global cryptocurrency adoption, according to a report released on Wednesday by blockchain analytics firm Chainalysis. This achievement comes despite the country's strict regulatory policies and high trading taxes, with investors continuing to engage in the market.
领英推荐
India to impose 12%-30% tariffs on steel imports from China, Vietnam
India has announced tariffs ranging from 12% to 30% on specific steel products imported from China and Vietnam, according to an order from the finance ministry. These tariffs, targeting welded stainless steel pipes and tubes, will remain in place for five years to protect the domestic steel industry. This move comes amid ongoing tensions with China and follows an anti-dumping investigation into Vietnamese steel imports, reflecting India's efforts to balance domestic protection with cautious economic ties.
Cabinet approves projects worth Rs 1.02 lakh crore
The government has extended Ayushman Bharat health coverage to all citizens aged 70 and above. Additionally, it has sanctioned new financial support for electric vehicles allocated Rs70,125 crore for upgrading and building rural roads, and dedicated Rs12,461 crore for hydropower projects with a combined capacity of 31,350 MW.
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