MSMEs Secure Contracts Worth Rs 70 Crore in Indian Army's Defence Procurement Drive
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MSMEs Secure Contracts Worth Rs 70 Crore in Indian Army's Defence Procurement Drive Pune, Feb 27 (KNN) Chief of Army Staff General Manoj Pande revealed that the Indian Army is actively harnessing the potential of Micro, Small, and Medium Enterprises (MSMEs) and startups to foster innovation and bolstering indigenous defence capabilities. Speaking at the Maharashtra MSME Defence Expo 2024 in Pune on Monday, General Pande highlighted the strides made through the Innovation in Defence Procurement Excellence (iDEX) route, emphasising its pivotal role in shaping the future of defence procurement i ..read more
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Finance Minister Advocates Monthly Meetings For Fintech Regulation
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Finance Minister Advocates Monthly Meetings For Fintech Regulation New Delhi, Feb 27 (KNN) Finance Minister Nirmala Sitharaman has proposed a structured monthly dialogue between fintech firms, startups, and regulators, aiming to foster better communication and address industry concerns. This proposal follows a meeting held in the wake of the recent Paytm controversy on Monday. Despite the Paytm issue, there seems to be a general sense of stability within both the fintech sector and regulatory bodies. India boasts a significant fintech presence, with approximately 10,244 entities, ranking thir ..read more
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Adani Group's Ammunition Manufacturing Complex Inaugurated by Chief Minister Yogi Adityanath in UP
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Adani Group's Ammunition Manufacturing Complex Inaugurated by Chief Minister Yogi Adityanath in UP Kanpur, Feb 27 (KNN) Chief Minister Yogi Adityanath marked a significant milestone in Uttar Pradesh's industrial landscape with the inauguration of the Adani Group's expansive ammunition manufacturing complex on Monday. Situated within the Kanpur node of the UP defence corridor, the facility spans an impressive 500 acres in Kanpur’s Saadh area. Positioned as South Asia’s largest ammunition and missile facility, the complex is poised to play a pivotal role in bolstering India's defence capabiliti ..read more
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India Sees Surge In Power Generation & Coal-Based Output: Ministry of Coal
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India Sees Surge In Power Generation & Coal-Based Output: Ministry of Coal New Delhi, Feb 27 (KNN) India experienced a 6.60 per cent surge in power generation from April to January 2024 compared to the corresponding period in the previous year, with coal-based power generation notably rising by 10.06 per cent, as stated by the Ministry of Coal. Additionally, coal imports for blending witnessed a significant decrease of 36.69 per cent, plummeting to 19.36 million tonnes from 30.58 million tonnes in the previous year's corresponding period. Despite the escalating power demand, the considera ..read more
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India's Textile Exports Dip Over Five Years, Imports Surge: GTRI Report
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India's Textile Exports Dip Over Five Years, Imports Surge: GTRI Report New Delhi, Feb 27 (KNN) India's textile and garment exports have experienced a decline over the past five years, decreasing by 7.6 per cent to USD 34.24 billion in the calendar year 2023 from USD 37.16 billion in 2018, according to a report by the Global Trade and Research Initiative (GTRI). During the same period, India witnessed a notable increase of 25.46 per cent in textile and garment imports. This reached USD 9.18 billion in 2023 from USD 7.32 billion. This indicates a shortfall in meeting domestic demand through lo ..read more
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Prime Minister Modi Set To Unveil Key Initiatives During Southern Districts Visit
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Prime Minister Modi Set To Unveil Key Initiatives During Southern Districts Visit New Delhi, Feb 27 (KNN) Prime Minister Narendra Modi is set to embark on a significant two-day visit to the southern districts, commencing from Tuesday. This visit holds particular importance as it precedes the upcoming general elections and encompasses the launch of several new initiatives aimed at bolstering various sectors and infrastructure. PM Modi's itinerary outlines a series of engagements aimed at inaugurating new projects and addressing key issues pertinent to the region. A focal point of the visit wil ..read more
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VinFast Commences Construction Of EV Facility After Just 50 Days Of MoU Agreement
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VinFast Commences Construction Of EV Facility After Just 50 Days Of MoU Agreement Chennai, Feb 26 (KNN) VinFast Auto Ltd has swiftly initiated the construction of its electric vehicle car and battery manufacturing facility in Tamil Nadu, just 50 days after signing a Memorandum of Understanding (MoU) with the Vietnam-based EV maker. Tamil Nadu Chief Minister M K Stalin laid the foundation stone for this ambitious project, which entails investments of Rs 16,000 crore for the state, on Sunday. The MoU between VinFast and the Government of Tamil Nadu was inked during the Global Investors Mee ..read more
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‘Japanese’ & ‘South Korean’ Industrial Cities To Come-up Near Noida
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‘Japanese’ & ‘South Korean’ Industrial Cities To Come-up Near Noida Noida, Feb 26 (KNN) The Yamuna Expressway Industrial Development Authority (YEIDA) has earmarked two sectors for the establishment of 'Japanese' and 'Korean' industrial cities, intended for electronic manufacturing units from these respective countries. The proposed 'Japanese City' will be situated in Sector 5A along the Yamuna Expressway, encompassing an area of 395 hectares, while the 'Korean City' will be located on 365 hectares in Sector 4A. The proximity to the Noida International Airport in Jewar, just 10 kilometres ..read more
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Mahindra Finance Partners With Lendingkart For SME Business Loans
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Mahindra Finance Partners With Lendingkart For SME Business Loans Mumbai, Feb 26 (KNN) Mahindra & Mahindra Financial Services Limited (MMFSL), a non-banking financial company (NBFC), has announced a strategic collaboration with fintech firm Lendingkart to facilitate business loans for the Small & Medium Enterprise (SME) sector. This nationwide partnership signifies Mahindra Finance's entry into the co-lending space, specifically tailored for the SME sector, operating under an 80:20 structure. Lendingkart will utilise its advanced tech platform, Lendingkart 2gthr, to streamline the ent ..read more
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Liquidity Strains May Last Till End Of FY24
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Liquidity Strains May Last Till End Of FY24 New Delhi, Feb 26 (KNN) Economists anticipate that the liquidity deficit in the banking system will persist until the end of the current financial year. As of February 22, data reveals that the liquidity deficit, measured by the amount banks borrowed from the Reserve Bank of India through the repo window, reached Rs 2.37 lakh crore, reported NDTV. While the RBI has undertaken various fine-tuning operations to manage liquidity, economists suggest that the central bank is comfortable with the current conditions, aligning with its monetary policy stanc ..read more
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