WEEKLY INDIAN ECONOMIC & COMMERCIAL REPORT (27th April – 3rd May 2020)

May 8, 2020

Weekly Indian Economic & Commercial Report (27th April – 3rd May 2020) Source: IBEF News Letter  Team led by IIT Bombay student develops low-cost mechanical ventilator Ruhdaar 27.04.2020 The Government has said that “the COVID-19 infection curve has begun to flatten and that the outbreak is under control”. According to the Health Ministry, among those getting infected, around 80 per cent will experience only mild illness, around 15 per cent will need oxygen support and the remaining 5 per cent who get critical or severe will need ventilators. Ventilators are thus an important component of the medical infrastructure required for treating infected patients, providing critical breathing support to those falling critically ill. Considering this, the government has been adopting a two-pronged approach, augmenting domestic manufacturing capacity as well as scouting across the world for medical supplies. Accordingly, as per the update given to the Group of Ministers meeting held on April 25, 2020, production of ventilators by domestic manufacturers has already started and orders for more than 59,000 units through nine manufacturers have been placed. In this context, it is heartening that the Indian inventive and creative spirit has been reaping good fruit in this crisis situation. The entire scientific community, including CSIR and its 30-plus labs, institutes such as IITs and many from the private sector and civil society, have come up with various solutions, each of which contributes in some measure to our battle against the pandemic. A team of engineering students from IIT Bombay, NIT Srinagar and Islamic University of Science & Technology (IUST), Awantipora, Pulwama, Jammu and Kashmir is one such group of creative individuals who have come forward to solve the problem of ventilator requirement. The team has come up with a low-cost ventilator using locally available materials. Here is how the Ruhdaar ventilator, as the team has named it, took birth. The project head Zulqarnain, a first-year student of Industrial Design Centre, IIT Bombay, had gone to his hometown Kashmir, when the institute closed due to the pandemic. On getting to know the ground situation as the pandemic progressed, he understood that there were only 97 ventilators in the Kashmir Valley. He sensed that the need was more and that the concern about shortage of ventilators had become a big worry for many people. So, Zulqarnain teamed up with his friends P. S Shoib, Asif Shah and Shakar Nehvi from IUST, Awantipora and Majid Koul from NIT Srinagar. Taking assistance from the Design Innovation Centre (DIC) at IUST, the team has been able to design a low-cost ventilator using locally available materials. While their initial aim was to replicate a tried and tested design, as they began to work on it, they developed their own design of the ventilator. Zulqarnain says “the prototype costed the team around Rs 10,000 (US$ 141.86) and that the cost will be much lower, when we go for mass production.” He said that while high-end ventilators used in hospitals cost in lakhs of rupees, “Ruhdaar provides necessary functionalities which can provide adequate breathing support necessary to save the life of a critically ill COVID-19 patient.” Talking about next steps, Zulqarnain said “the team […]

Read more

WEEKLY INDIAN ECONOMIC & COMMERCIAL REPORT (20th – 26th April 2020)

May 1, 2020

Weekly Indian Economic & Commercial Report (20th – 26th April 2020) Source: IBEF News Letter  Strengthening the fight against Covid-19, Lifeline Udan flights cover 2,87,061 km 20.04.2020 288 flights have been operated under Lifeline Udan by Air India, Alliance Air, IAF and private carriers. 180 of these flights have been operated by Air India and Alliance Air. Cargo transported till date is around 479.55 tons.  Aerial distance covered by Lifeline Udan flights till date is over 2,87,061 km. ‘Lifeline Udan’ flights are being operated by MoCA to transport essential medical cargo to remote parts of the country to support India’s war against COVID-19. Pawan Hans helicopters have carried 1.86 tons of cargo covering a distance of 6265 kms till 18 April 2020.  Helicopter services including Pawan Hans Ltd have been operating in J&K, Ladakh, Islands and North East region transporting critical medical cargo and patients. The domestic Lifeline Udan cargo includes COVID-19 related reagents, enzymes, medical equipment, testing kits, Personal protective equipment (PPE), masks, gloves, other materials of HLL and ICMR; cargo requisitioned by State/UT Governments and postal packets etc. Special focus has been on the North East Region, island territories and the hill states. Air India and IAF collaborated primarily for J&K, Ladakh, North-East and other island regions. Domestic Cargo Operators SpiceJet, Blue Dart and Indigo are operating cargo flights on a commercial basis. Spicejet operated 410 cargo flights during 24 March to 18 April 2020 covering a distance of 6,00,261 km and carrying 3270 tons of cargo. Out of these 128 were international cargo flights. Blue Dart operated 141 domestic cargo flights covering a distance of 1,39,179 km and carrying 2241 tons of cargo during 25 March to 18 April 2020. Indigo has operated 31 cargo flights during 3-18 April 2020 covering a distance of 32,290 km and carrying around 48 tons of cargo.  This also includes medical supplies carried free of cost for the government. International Sector- The date-wise quantity of medical cargo brought in after cargo air-bridge was established with East Asia for transportation of pharmaceuticals, medical equipment and Covid-19 relief material, is as follows: S No Date From Quantity (Tons) 1 04.4.2020 Shanghai 21 2 07.4.2020 Hong Kong 6 3 09.4.2020 Shanghai 22 4 10.4.2020 Shanghai 18 5 11.4.2020 Shanghai 18 6 12.4.2020 Shanghai 24 7 14.4.2020 Hong Kong 11 8 14.4.2020 Shanghai 22 9 16.4.2020 Shanghai 22 10 16.4.2020 Hong Kong 17 11 16.4.2020 Seoul 5 12 17.4.2020 Shanghai 21 13 18.4.2020 Shanghai 17 14 18.4.2020 Seoul 14 15 18.4.2020 Guangzhou 4 Total 242 Within South Asia, Air India transported around 9 tons of supplies on 7 April 2020 and tonnes on 8 April 2020 to Colombo. Air India operated two flights between Mumbai- Frankfurt and Mumbai- London last week under the Krishi Udan program, carrying seasonal fruits and vegetables from Mumbai and returning with general cargo. Air India operated another flight on 15 April 2020 between Delhi-Seychelles-Mauritius-Delhi, carrying medical supplies. IIA scientists connect Lithium abundance in interstellar space to new Lithium rich red giants 20.04.2020 Researchers at the Indian Institute of Astrophysics (IIA), an autonomous institute under the Department of Science &Technology, Govt. of India, have discovered hundreds of Li-rich giant stars indicating that Li is being […]

Read more

WEEKLY INDIAN ECONOMIC & COMMERCIAL REPORT (13th – 19th April 2020)

April 27, 2020

Weekly Indian Economic & Commercial Report (13th – 19th April 2020) Source: IBEF News Letter Medical cargo flights under Operation Lifeline UDAN transport 108 tons of essential supplies for the nation in a single day 13.04.2020 Over 214 Lifeline Udan flights have been operated by MoCA to transport essential medical cargo to remote parts of the country to support India’s war against COVID-19. 128 of these flights have been operated by Air India and Alliance Air. Cargo transported till date is around 373.23 tons. Smt Usha Padhee, JS, MoCA said that the aerial distance covered by Lifeline Udan flights till date is over 1,99,784 km. The Cargo load carried on 11th April 2020 was 108 Tons. The Ministry of Civil Aviation and the aviation industry is determined to support India’s war against COVID-19 by transporting medical air-cargo within India and abroad in the most efficient and cost-effective manner. Special focus has been on the North East Region, island territories and the hill states. Air India and IAF collaborated primarily for J&K, Ladakh, North-East and other island regions. Bulk of the cargo comprises light-weight and voluminous products like masks, gloves and other consumables, that consume relatively larger storage space on the aircraft. Special permission has been taken to store cargo in the passenger seating area and overhead cabins, with due precautions. Public information related to Lifeline Udan flights is updated daily on the portal at https://esahaj.gov.inlifeline_udan/public_info. that was developed by National Informatics Centre (NIC) and MoCA in a record span of three days to enable seamless coordination between various stakeholders. Domestic Cargo Operators Spice Jet, Blue Dart and Indigo are operating cargo flights on a commercial basis. Spice jet operated 286 cargo flights covering a distance of 4,01,290 km and carrying 2334.51 tons of cargo. Out of these 87 were international cargo flights. Blue Dart operated 94 domestic cargo flights covering a distance of 92,075 km and carrying 1479 tons of cargo. Indigo has operated 25 cargo flights covering a distance of 21,906 km and carrying around 21.77 tons of cargo. This also includes medical supplies carried free of cost for the government. Date No. of Flights Tonnage Kilometres 11-04-2020 9 40.36 7271 International cargo by Spicejet Date No. of Flights Tonnage Kilometres 11-04-2020 11 103.35 21,100 Blue Dart cargo uplift Date No. of Flights Tonnage Kilometres 11-04-2020 8 145 7,856 Indigo cargo uplift Date No. of Flights Tonnage Kilometres 11-04-2020 6 15.66 4,829 (Note – Indigo’s Tonnage also includes Govt. cargo consisting of medical supplies carried on Free of Cost (FOC) basis.) International Sector An air-bridge has been established with effect from 4 April 2020 for transportation of pharmaceuticals, medical equipment and Covid-19 relief material. The date-wise quantity of medical cargo brought in as follows: S No Date From Quantity (Tons) 1 04.4.2020 Shanghai 21 2 07.4.2020 Hong Kong 6 3 09.4.2020 Shanghai 22 4 10.4.2020 Shanghai 18 5 11.4.2020 Shanghai 18 Total 85 Within South Asia, Air India transported around 9 tons of supplies on 7 April 2020 and 4 tonnes on 8 April 2020 to Colombo. Air India will operate dedicated scheduled cargo flights to other countries for transfer of critical medical supplies, as […]

Read more

WEEKLY INDIAN ECONOMIC & COMMERCIAL REPORT (6th – 12th April 2020)

April 27, 2020

Weekly Indian Economic & Commercial Report (6th – 12th April 2020) Source: IBEF News Letter Rapid diagnostic kit being developed by Pune based startup for COVID 19 screening 09.04.2020 FastSense Diagnostics, a start-up incorporated in 2018, developing innovative products for rapid disease diagnosis, funded by the Department of Science and Technology (DST) is now developing two modules for detection of COVID 19. “The major challenges of testing for COVID-19 are speed, cost, accuracy and accessibility at the point-of-care or use. Several startups have developed rather creative and innovative ways to address these needs. DST is supporting the most promising of these to facilitate their development to commercialization chain if found suitable on technical grounds” said Professor Ashutosh Sharma, Secretary, DST. In the lines of their existing universal platform “Omni-Sens” for early detection and screening of complex diseases i.e. cancers, liver ailments and neonatal sepsis etc., the company has proposed a technology CovE-Sens specifically for COVID 19. A patent has been filed for CovE-Sens which would provide a rapid, point of care detection along with screening and confirmatory test as well with ease of operation. The company plans to roll out two products — a modified Polymerase chain reaction (PCR) based detection kit for confirmatory analysis in lesser time compared to existing detection methods (approximately 50 samples can be tested in an hour) and a portable chip based module for rapid screening of target population based on the on-chip sensing technology that would provide on the spot results in less than 15 min per sample. The sample size for confirmatory tests can also be increased in the future to 100 samples/ hour. The point of care detection kits of FastSense Diagnostics that can provide on the spot detection rapidly and without highly trained technicians could boost India’s testing efforts in the fight against COVD 19. The two proposed modules can be deployed at any real locations and hotspots like airports, densely populated areas, hospitals where screening of population can be done to prevent corona spread to healthy individuals and data can be generated with ease in less than an hour. The company is working on the cost to make it more affordable. The team is also planning to collaborate with National Institute of Virology for which the formal approval is under process for performance evaluation and they are in touch with existing market players for scaling up and large-scale deployment of the device. The team working on this comprises experts in virology, molecular biology and bioinstrumentation that can deliver the prototype in 8 to 10 weeks. The company also has few in-house facilities to scale up the production for deployment. Besides, preventing further spread of the disease during the current pandemic, the portable rapid diagnostics kit can also prevent future relapse by regular monitoring. The low cost and ease of operation can make help reach out to the rural population and prevent overloading of urban health infrastructure. CSIR-Central Electrochemical Research Institute (CSIR-CECRI) working with Industry to Scale up Personal Protective Equipment 09.04.2020 Under the present COVID-19 pandemic situation, in line with CSIR’s special efforts, its constituent lab CSIR-CECRI (Central Electrochemical Research Institute) at Karaikudi, […]

Read more

WEEKLY INDIAN ECONOMIC & COMMERCIAL REPORT (30th March – 5th April 2020)

April 24, 2020

Weekly Indian Economic & Commercial Report (30th March – 5th April 2020) Source: IBEF News Letter Dr. Harsh Vardhan launches National Teleconsultation Centre (CoNTeC) 30.03.2020 The Union Minister of Health & Family Welfare Dr Harsh Vardhan launched the National Teleconsultation Centre (CoNTeC) today and also interacted with Nodal Officers of Medical Colleges of States and other AIIMS of the country and reviewed the COVID-19 preparedness. The project CoNTeC, an acronym for COVID-19 National Teleconsultation Centre, has been conceptualised by the Ministry of Health & Family Welfare and has been implemented by the All India Institute of Medical Sciences, New Delhi. On the occasion Dr Harsh Vardhan said that CoNTeChas been made operational at AIIMS with a view to connect the Doctors across the country to AIIMS in real time for treatment of the COVID-19 patients. He further informed that the Doctors would be available in the facility 24X7 and to keep it operational 24 hrs. The boarding and lodging facility is also made available for the Doctors manning it. He said that it has been set up in the AIIMS so that the small states should also make use of the vast experience of the Doctors at AIIMS. He informed that the doctors world over are using different protocols to treat COVID-19 patients and the goal of the facility is to at least connect the doctors in the country together to discuss amongst themselves the protocols undertaken and provide the best treatment accordingly. He further informed that the telemedicine guidelines have also been notified by the Government of India and with the help of digital platform and technology, the public at large will get the benefit not only for COVID- 19 but other diseases also. He said the ultimate purpose of starting this facility at prestigious All India Institute of Medical Sciences is to take the best possible treatment to the poorest of the poor of the country. He added that India is a vast country and technology can play a pivotal role for the medical assistance to reach the poor. The poor patients in the country should not be deprived of the quality treatment in any circumstances. With the present facility, the poor would be able to get benefit of consultation form the topmost doctors of the country. He added, “Right now the scenario is evolving world over and the present facility would be strengthened accordingly from time to time to meet the challenges.” He said that there are plans to extend the facility overseas also. He said that continuing forward, all the medical colleges and AIIMS need to be connected together so that they can interact and help in the policy implementation for the country in the health sector. He further said that AIIMSs should become hub of activity for the district hospitals to connect with them for consultation, telemedicine, education, training, interaction and exchange of protocols between themselves. Dr. Harsh Vardhan also attended a test call at the facility to check the effectiveness of the system. The CoNTeC is a Telemedicine Hub established by AIIMS, New Delhi, wherein expert doctors from various clinical domains will be available 24×7 to answer the multifaceted questionsfrom specialists from all over the country. It is a multi-modal telecommunications hub through which […]

Read more

WEEKLY INDIAN ECONOMIC & COMMERCIAL REPORT (23rd – 29th March 2020)

April 24, 2020

Weekly Indian Economic & Commercial Report (23rd – 29th March 2020) Source: IBEF News Letter PM Thanks People for Expressing Gratitude Towards Those Fighting Coronavirus 23.03.2020 Prime Minister Shri Narendra Modi today thanked the people for expressing gratitude towards those who are at the forefront of the battle against Coronavirus. In a series of tweets, PM wrote “The country thanked each person who led the fight against the Coronavirus. Many thanks to the countrymen.” The Prime Minister added that the event marked the beginning of the nation’s victory in a long battle against the COVID-19 menace. He urged the people to bind themselves to the principle of social distancing with the same resolve and restraint. Cabinet approves Modified Electronics Manufacturing Clusters (EMC 2.0) Scheme 23.03.2020 The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has approved financial assistance to the Modified Electronics Manufacturing Clusters (EMC2.0) Scheme for development of world class infrastructure along with common facilities and amenities through Electronics Manufacturing Clusters (EMCs).  It is expected that these EMCs would aid the growth of the ESDM sector, help development of entrepreneurial ecosystem, drive innovation and catalyse the economic growth of the region by attracting investments in the sector, increasing employment opportunities and tax revenues. The Modified Electronics Manufacturing Clusters (EMC 2.0) Scheme would support setting up of both Electronics Manufacturing Clusters (EMCs) and Common Facility Centers (CFCs).  For the purpose of this Scheme, an Electronics Manufacturing Cluster (EMC) would set up in geographical areas of certain minimum extent, preferably contiguous, where the focus is on development of basic infrastructure, amenities and other common facilities for the ESDM units.  For Common Facility Centre (CFC), there should be a significant number of existing ESDM units located in the area and the focus is on upgrading common technical infrastructure and providing common facilities for the ESDM units in such EMCs, Industrial Areas/Parks/industrial corridors. Financial Implications The total outlay of the propose EMC 2.0 Scheme is Rs 3,762.25 crore (US$ 538.31 million) which includes the financial assistance of Rs 3,725 crore (US$ 532.92 million) and administrative and management expense to the tune of Rs 37.25 crore (US$ 5.33 million) over a period of eight (8) years. Benefits The Scheme will create a robust infrastructure base for electronic industry to attract flow of investment in ESDM sector and lead to greater employment opportunities.  Following are the expected outputs/outcomes for the Scheme: Availability of ready infrastructure and Plug & Play facility for attracting investment in electronics sector: New investment in electronics sector Jobs created by the manufacturing units; Revenue in the form of taxes paid by the manufacturing units Background To build and create requisite infrastructure ecosystem for electronics manufacturing; Ministry of Electronics and Information Technology (MeitY) notified Electronics Manufacturing Clusters (EMC) Scheme which was open for receipt of applications upto October, 2017.  A period of 5 years (i.e. up to October, 2022) is available for disbursement of funds for the approved projects.  Under EMC scheme, 20 Greenfield EMCs and 3 Common Facility Centres (CFCs) measuring an area of 3565 acres with project cost of Rs 3,898 crore (US$ 557.73 million) including Government Grant-in-aid of Rs 1,577 crore (US$ 225.64 million) have been approved in 15 states across the country. There is a need for continuation of such scheme in modified form for further strengthening the infrastructure base for electronics industry in the country […]

Read more

WEEKLY INDIAN ECONOMIC & COMMERCIAL REPORT (16th – 22nd March 2020)

April 21, 2020

Weekly Indian Economic & Commercial Report (16th – 22nd March 2020) Source: IBEF News Letter PM interacts with SAARC leaders to combat COVID-19 in the region 16.03.2020 Prime Minister Shri Narendra Modi interacted with the leaders of the SAARC countries through video conference to chart out a common strategy in order to combat COVID-19 in the region. Shared History – Collective Future Prime Minister thanked the leaders for joining the conference at such short notice. Stressing on the ancient people to people ties and interconnectedness of societies of the SAARC countries, he said it is imperative for the nations to prepare to face the challenge together. The Way Forward In the spirit of collaboration, Prime Minister Modi proposed creation of a COVID-19 Emergency Fund based on voluntary contributions from all the countries, with India making an initial offer of US$ 10 million for the fund. The fund can be used by any of the partner countries to meet the cost of immediate actions. He informed that India is assembling a Rapid Response Team of doctors and specialists, along with testing kits and other equipment, which will be on stand-by, to be placed at the disposal of the countries, if required. Prime Minister also offered arranging for online training capsules for the emergency response teams of the neighbouring countries and sharing of software behind India’s Integrated Disease Surveillance Portal to help trace possible virus carriers and the people they contacted. He suggested that existing mechanisms like SAARC Disaster Management Centre can be used to pool in best practises. He also suggested creation of a common Research Platform to coordinate research on controlling epidemic diseases within the South Asian region. He suggested further brainstorming by experts on the long-term economic consequences of COVID-19, and how best to insulate internal trade and local value chains from its impact. The leaders thanked the Prime Minister for the proposed initiatives. Prime Minister reiterated the resolve to battle together and said that neighbourhood collaboration by SAARC countries should serve as a model for the world. Sharing Experience Prime Minister said the guiding mantra for India has been “prepare, but don’t panic”. He laid down the proactive steps taken, including a graded response mechanism, screening those entering the country, public awareness campaigns on TV, print and social media, special efforts to reach out to the vulnerable groups, ramping up of diagnostic facilities and developing protocols for each stage of managing the pandemic. He said that India has not only successfully evacuated almost 1400 Indians from different countries but also evacuated some of the citizens of the neighbouring countries in accordance with the ‘neighbourhood first policy’. President Ashraf Ghani said that the greatest vulnerability of Afghanistan is an open border with Iran. He proposed modelling diffusion patterns, creation of common framework for telemedicine and greater cooperation amongst the neighbouring countries. President Ibrahim Mohamed Solih thanked the Indian government for the medical assistance from India to deal with COVID-19 cases and for evacuating nine Maldivians from Wuhan. He highlighted the negative impact of COVID-19 on tourism in the country and its impact on the nation’s economy. He proposed closer cooperation between the health emergency agencies of the countries, formulation of economic relief package and long-term recovery plan […]

Read more

WEEKLY INDIAN ECONOMIC & COMMERCIAL REPORT (8th – 14th March 2020)

March 23, 2020

Weekly Economic & Commercial Report (8th -14th March 2020) Internal Covid 19 impacts Thai economy    Khao Sod 08.03.2020 In the past 2-3 weeks, COVID-19 outbreak has increasingly affected the economy. Private sector reduced GDP growth expectation as the export and tourism industries are directly impacted by the outbreak. Kasikorn Research Institute expected that Thailand will see only 0.5% GDP growth, reduced from the expected 2.7% growth. The country is expected to lose THB 410 Billion from the 8.3 million lower number of tourists amounted to a 2.4% of GDP. The retail industry is expected to see no less than THB 100 Billion damage as people don’t want to leave home. Commercial banks will see lower revenues due to the measures issued to help customers. The Tripartite Private Committee expected that the GDP growth of Thailand will be at 1.5-2%. The Thai National Shippers’ Council expected that Thailand’s export in 2020 will grow by 0-1%. The Vice Chairman of the Employers’ Confederation of Thailand revealed that employers are finding measures to reduce cost. Employers may slowdown the recruitment which will affect the 500,000 new graduates. Gamble on national economy in Covid 19 outbreak situation Daily News 09.03.2020 The economic cabinet has come up with the emergency measures to support Thai people during the recent COVID-19 outbreak in the country, including the measure to reduce Social Security’s contribution from THB750 per month or 5 percent of the salary to only 0.1 percent of the salary. The measure is expected to be available for 3 months. THAIFEX may postpone Prachachart Turakij  09.03.2020 The Director-General of the Department of International Trade Promotion revealed that the department will host a meeting on March 9 to decide the postponement of THAIFEX 2020. The department has developed measures for event postponement due to COVID-19 including 1) constant updates, 2) technology implementation for online marketing promotion, 3) hosting a teleconference with leaders, and 4) use Facebook Live to host workshops for exporters. PM stops providing THB 2000 Kom Chad Luek 10.03.2020 On March 9, the Prime Minister Gen. Prayut Chan-o-cha revealed that the government suspended the THB 2,000 free money policy to help the public cope with COVID-19. Mr. Satit Pitutacha, Deputy Minister of Public Health, revealed that the government has adjusted the mask allocation to provide masks to medical personnel first. The Department of Internal Trade has increased the mask allocation for the Public Health Ministry from 300,000 to 700,000 pieces per day. MR Jatumongkol Sonakul, Labour Minister, presided over the unemployment center to monitor employments from COVID-19 crisis. Measures to support farmers Thai Rath 11.03.2020 The secretary-general of the Office of Agricultural Economics reveals that the office prepares 3 measures to support farmers who are being affected by COVID-19 outbreak, including the measure to promote domestic fruit consumption with the coordination from HomePro, IT Square, Tesco Lotus, Big C, and others. They will provide their department stores to sell 3,000 tons of fruit at fair prices. Help Thai labors returning back from covid risk countries Krungthep Turakij 11.03.2020 The Ministry of Labour established a countermeasure for the Covid-19 virus for every worker who recently returns from high-risk countries to quarantine […]

Read more

WEEKLY INDIAN ECONOMIC & COMMERCIAL REPORT (1st – 7th March  2020)

March 20, 2020

Weekly Economic & Commercial Report (1st -7th March  2020) Internal Mess of Chevrolet sales Thai Rath 01.03.2020 PM’s Office Minister Tewan Liptapanlop reveals that he has negotiated with the representative of Chevrolet Sales (Thailand) about a group of customers who bought Chevrolet vehicles at full price submitted a letter to Chevrolet Sales (Thailand) representatives, demanding that the company compensate them after Chevrolet cut the prices of its vehicles by 50 percent. Some of the bookings for discounted cars have also been canceled. He needs OCPB and Chevrolet Sales 2nd phase of no plastic bag campaign promoted   Daily News 01.03.2020 The director of the Thai Retailers Association reveals that the association has continued the project “EVERYDAY SAY NO TO PLASTICS BAGS” to stop providing plastic bags. The project stopped customers from taking over 3.750 billion plastic bags within a month. The research shows that 61 percent of customers are willing to join the campaign, 36 percent are whatever, and 3 percent are not willing to join the campaign. Covid 19 takes down business sentiment Thai Rath 03.03.2020 The Bank of Thailand reported that the business confident index has dropped drastically in February from 48.5 points in January to 44.1 points in March, the lowest point since the 2011 flood.  The electrical appliance industry saw the highest drop due to concerns about stock and production affected by COVID-19. The 3-month confident index also dropped to 50.5 points from 52.4 points. Businesses expected that there will be continuous risks in the future. E20 promoted to national standard   Daily News 03.03.2020 The Director-General of the Department of Energy Business revealed that the department will discuss the preparation for the listing of E20 as the standard fuel with oil trader, refinery, and ethanol businesses. The listing is scheduled to take effect in Q3/2020 to help increase cane and cassava prices. Oil traders concerned that there will be not enough ethanol. The Chairman of the Thai Ethanol Manufacturer and Trader Association said that Thailand saw less cane production in 2019/20 season and we will have fewer molasses for producing ethanol. Economic boosting plan to crack down virus Thai Post  03.03.2020 The Finance Minister said that the minister is studying the impacts of COVID-19 and will issue measures to help the public. The Director-General of the Department of Internal Trade revealed that the department launched a caravan of 111 cars to sell masks to the public across Thailand. The department also distributed masks to other organizations and private stores such as Blue Flag, 7-Eleven, Mini Big C, Lotus Express, and Family Mart. 1 person can buy only 1 THB 10 4-piece pack. MoF to provide money for low income earners Thai Rath 05.03.2020 The minister of Finance said that the ministry of Finance will propose the care measure and remedy for Covid-19 impact to the economic cabinet for approval on Mar 6. If approved, the measure will be proposed to the cabinet for consideration on Mar 10. The measure will take effect in the next 3-4 months (Mar to June).  The measure and remedy include giving THB1,000 to low-income earners through PromptPay, soft loan, other incentives for operators and labors […]

Read more

Weekly Indian Economic & Commercial Report (24th February – 1st March, 2020)

March 18, 2020

Weekly Indian Economic & Commercial Report (24th February – 1st March, 2020) Source: IBEF News Letter PM inaugurates first Khelo India University Games 24.02.2020 The Prime Minister Shri Narendra Modi inaugurated the first Khelo India University Games today in Odisha via video link. Addressing on the occasion, Prime Minister said that today is not just the beginning of a tournament but the beginning of the next phase of the sports movement in India. Here you are not only competing with each other, but also with yourself. “I am connected with you through technology, but I can experience the atmosphere the enthusiasm, the passion and the energy there. The first Khelo India University Games in India’s history are starting today in Odisha. This is a historic moment in India’s sports history. It is also a big step for the future of India’s sports”, Prime Minister said. Prime Minister added that Khelo India campaign has played an important role in increasing interest towards sports and recognition of young talent in every corner of the country. When the Khelo India Games started in the year 2018, 3500 players took part in it. But in just three years the number of players has almost doubled to more than 6 thousand. “This year, Khelo India Schools Games has broken 80 records. Out of which 56 records have been in the names of our daughters, our daughters have won, our daughters have done wonders. The important thing is that the talent coming up under this campaign is not from the big city, but from small towns”, Prime Minister said.  Prime Minister mentioned that since the past 5-6 years sincere efforts have been made for the promotion and participation of sports in India. Transparency is being promoted in identification of talent, training and selection process. “These are the players who are likely to take part in the Tokyo Olympics. The players benefiting from this scheme have given more than 200 medals to the country in several sporting events such as Commonwealth Games, Asian Games, Asian Para Games, Youth Olympics. In the coming days, the goal is to win more than 200 Gold medals, and more importantly to improve your own performance and to give new heights to your own potential”, Prime Minister said. Power demand up 7.5 per cent in February 24.02.2020 India witnessed an increase in electricity demand by 7.5 per cent in the first 18 days of February with early onset of summer in the South and West, providing some relief to the stressed thermal power sector which can now operate at higher capacities. Presently, thermal power projects are operating at 58 per cent capacity, a senior government official said. Power demand had grown 3.7 per cent in January, turning around after five months of decline. The electricity demand stood at 1,05,289 megawatt (mw) in January as against 1,01,570 mw in December 2019. According to the data available with Central Electricity Authority, the demand was also 3.5 per cent higher than the 1,01,713 mw in January 2019. In February so far, demand was 15–20 gigawatt (gw) higher than peak-hour demand for the same period last year. During February 1-18, thermal and large hydro projects generated 7.3 per cent more electricity than the same period […]

Read more