World Information

INDIAN DEFENCE MANUFACTURING   The Indian defence manufacturing industry is a significant sector for the economy. The industry is likely to accelerate with rising concerns of national security. Demand for defence equipment in India has been growing due to the ongoing territorial disputes with Pakistan and China over the ownership of the Northern State of Kashmir and the North Eastern State of Arunachal Pradesh, respectively.   Over the last five years, India has been ranked among the top importers of defence equipment to gain technological advantages over rival countries such as China and Pakistan. To modernise its armed forces and reduce dependency over external dependence for defence procurement, several initiatives have been taken by the government to encou

  INSURANCE INDUSTRY   The insurance industry of India has 57 insurance companies 24 are in the life insurance business, while 34 are non-life insurers. Among the life insurers, Life Insurance Corporation (LIC) is the sole public sector company. There are six public sector insurers in the non-life insurance segment. In addition to these, there is a sole national re-insurer, namely General Insurance Corporation of India (GIC Re). Other stakeholders in the Indian Insurance market include agents (individual and corporate), brokers, surveyors and third-party administrators servicing health insurance claims.   In India, the overall market size of the insurance sector is expected to US$ 280 billion in 2020. The life insurance industry is

AUTOMOBILE COMPONENTS India’s export of auto components increased at a CAGR of 7.6% during FY16-FY20 as the value increased from US$ 10.83 billion in FY16 to US$  14.5 billion in FY20. The Indian auto-components industry has experienced healthy growth over the last few years. The auto-components industry expanded by a CAGR of 6% over FY16 to FY20 to reach US$ 49.3 billion in FY20. The industry is expected to reach US$ 200 billion by FY26.   Due to high development prospects in all segments of the vehicle industry, the auto component sector is expected to rise by double digits in FY22.  

  FMCG SECTOR GROWTH   Fast-moving consumer goods (FMCG) sector is India’s fourth largest sector with household and personal care accounting for 50% of FMCG sales in India. Growing awareness, easier access and changing lifestyles have been the key growth drivers for the sector. The urban segment (accounts for a revenue share of around 55%) is the largest contributor to the overall revenue generated by the FMCG sector in India. However, in the last few years, the FMCG market has grown at a faster pace in rural India compared to urban India. Semi-urban and rural segments are growing at a rapid pace and FMCG products account for 50% of the total rural spending.     The retail market i

National Ice Cream Day Kulfi, referred to as the “traditional ice cream of India”, also originated in the sixteenth century, during the Mughal reign. National Ice Cream Day is celebrated on third Sunday of July every year as it is one of the most precious and sweetest desert of all time. US President Ronald Reagan in 1984 had declared that July as National Ice Cream Month and the third Sunday of the month as National Ice Cream Day. Since then, National Ice Cream Day is celebrated in the US on the third Sunday of July. However, the festival has got quite popular now is celebrated by

  MINISTRY OF POWER NOTIFICATION New Delhi, the 28th June, 2021   G.S.R. 448 (E).—In exercise of the powers conferred by sub-section (1) read with clause (z) of sub-section (2) of section 176 of the Electricity Act, 2003 (Act 36 of 2003), the Central Government hereby makes the following rules, to amend the Electricity (Rights of Consumers) Rules, 2020, namely:-   1. (1) These rules may be called the Electricity (Rights of Consumers) Amendment Rules, 2021. (2) They shall come into force on the date of their publication in the Official Gazette.   2. In the Electricity (Rights of Consumers) Rules, 2020 (hereinafter referred to as the said rule),