WPI inflation declines to 21-month low of 5.85% in Nov
The wholesale price-based inflation or WPI declined to a 21-month low of 5.85% in November on easing prices of food, fuel and manufactured items. The inflation was 14.87 per cent in November 2021.
The Commerce and Industry Ministry stated on Wednesday that the decrease in the rate of inflation in November 2022 was mostly caused by lower prices for food items, basic metals, textiles, chemicals & chemical products, and paper & paper products when compared to the same month the previous year.
Wholesale inflation declines to 21-month low in November | Mint (livemint.com)
India’s exports saw a modest increase in November, reaching $32 billion
According to data issued by the Ministry of Commerce and Industry, India’s merchandise exports recorded a modest increase in November 2022 following a significant contraction in October.
According to the report merchandise imports were USD 55.88 billion in November 2022 as compared to USD 53.03 billion in November 2021.
India’s total exports (goods and services combined) increased by 10.97% over the same time in the previous year to USD 58.22 billion in November 2022.
India s Exports Witness Modest Growth At 32 Bn In November – BW Businessworld
Center likely to propose to curb Chinese imports in Budget 2023
The Center is likely to propose many tariff and non-tariff measures in Budget 2023 to lessen dependence on Chinese imports. The nation may import items and raw materials from China, though it may limit the entry of finished goods. There will probably be restrictions on the imports of finished goods from China into India, whether they enter directly or indirectly through a third nation.
In light of the 20-month standoff between the two nations’ armies in Ladakh, India has been attempting to push for stricter enforcement of agreements with China. Additionally, the efforts have been strengthened following a new conflict between the two sides on December 9 in Arunachal Pradesh.
Budget may seek to curb China imports | Mint (livemint.com)
MeitY set to clear Samsung’s mobile PLI subsdies for FY21
Before the end of FY23, Samsung will receive a portion of the subsidies under the Center’s production-linked incentive program for the manufacture of mobile phones. According to reports, the Korean electronics giant will shortly receive a portion of the 900 crore incentive after a delay of more than a year.
After discrepancies in the invoices were discovered, the Center had postponed paying Samsung Electronics’ incentive under the PLI scheme for FY21. According to sources, the Ministry of Electronics will soon release the incentive after gathering enough clarity.
MeitY set to clear Samsung’s mobile PLI subsdies for FY21 – The Hindu BusinessLine
Mahindra’s Chakan plant becomes India’s first 5G-enabled automobile factory
In a strategic partnership with Bharti Airtel, Mahindra & Mahindra has installed 5G network access at the Chakan manufacturing facility in Pune. It has evolved into India’s first auto manufacturing facility with 5G capabilities. The solution offered by 5G for Business improves network connectivity and accelerates software flashing, a crucial process for all vehicle dispatches.
Manish Vyas, CEO of Tech Mahindra’s network services and president of the company’s communications, media, and entertainment business sated that the partnership will help open up opportunities across industries to improve productivity, advance intelligent network-led enterprise digitalization, and promote innovation.
Mahindra’s Chakan Factory Deploys 5G Network Connectivity, First Auto Plant in India (news18.com)