Manufacturing

The Indian industries have been surprised by the Reserve Bank of India’s decision not to further cut repo rate at its MPC meeting on 5 Dec 2019, many pointing out the weakening economy.

The Rapaport Group, which supports over 20,000 clients in 121 countries, is organizing 2020 Trade Mission to Surat, home to an estimated 500,000 diamond cutters who manufacture over 90% of the world’s polished diamonds.

The Ministry of Micro, Small and Medium Enterprises will raise GST related issues faced by the sector with the Finance Minister to provide some relief to the small companies.

The Monetary Policy Committee (MPC) at its meeting on 5 December 2019 decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 5.15%.

Public Sector Oil Marketing Companies (OMCs), Gail (India) Limited and Indraprastha Gas Limited (IGL) have issued 443 numbers Letters of Intent (LoIs) as on 29 Nov 2019 for setting up Compressed BioGas (CBG) plants in the country.

The Special Economic Zones has received investment of Rs.521,631.44 crore as of 30 Sept 2019 since the concept was first passed by parliament in May 2005.

Three new problem statements have been launched recently to expand the startup network in the Aeronautics, Aerospace and Defence sector, State Minister for Defence Shripad Naik said in a written reply to parliament on 4 Dec 2019.

Bengaluru’s VuNet Systems, an AI Driven IT Operations(AIOps) platform start-up, has been recognized in the Gartner’s Market Guide for AIOps Platforms 2019.

Utah’s Co-Diagnostics, Inc. (Nasdaq: CODX) said its joint venture for manufacturing has obtained regulatory clearance for five tests to be manufactured and sold as in vitro diagnostics (IVDs) from their facility in Ranoli.

S&P Global Ratings has reaffirmed Sovereign Credit Rating of India at BBB- with Stable outlook, saying it expects Indian economy to continue to outperform its peers and that growth will remain strong over the next 2 years.