TELANGANA
Foxconn vows Rs 4,000 cr in Telangana mfg plant, 1 lakh jobs likely
In less than three months after Hon Hai Technology Group, popular as Foxconn, signed a memorandum of understanding with the Telangana government, the multinational electronics contract manufacturer performed a ground-breaking ceremony for its manufacturing unit at Kongara Kalan in Rangareddy district.
Industries and IT minister KT Rama Rao laid the foundation along with Foxconn Interconnect Technology chairman & CEO Sidney Lu.
The proposed facility, spread over 200 acres and with an investment of Rs 4,000 crore in the first phase, would serve as a hub for Foxconn’s operations in Telangana.
The facility would provide direct employment to 35,000 youth and another 65,000 jobs indirectly, cumulatively creating a lakh job opportunities for the locals.
INTERNATIONAL
Global trade expected to grow 1.7% in 2023: WTO
Despite ongoing concerns over the war in Ukraine, high inflation, and financial uncertainty, the World Trade Organization (WTO) has raised its projection for global trade growth in 2023 from 1% to 1.7%. This updated outlook indicates that the global economy is expected to recover faster than previously anticipated. However, the risks associated with these persistent issues remain, and could still impact the growth trajectory of the global trade landscape.
Despite an upward revision in the World Trade Organization’s (WTO) growth forecast for 2023, the global trade body has cautioned that the trade growth is expected to remain subpar due to multiple factors. These factors include ongoing conflicts such as the Russia-Ukraine conflict, stubbornly high inflation, tighter monetary policy, and financial uncertainty.
NATIONAL
With 48 GI-tagged goods to itscredit, UP is now 2nd in country
Uttar Pradesh has achieved the second position nationally in terms of having the maximum number of Geographical Indication-tagged goods after receiving GI tags for three more ODOP crafts — Mainpuri tarkashi, Mahoba Gaura stone craft, and Sambhal horn craft — with the technical facilitation provided by the Varanasi-based NGO Human Welfare Association (HWA).
Tamil Nadu has maximum 55 GI-tagged goods while UP and Karnataka have 48 and 46 GI products, respectively. However, UP is first in terms of GI-tagged handicrafts with 36 crafts to its credit.
Currently Tamil Nadu has maximum 55 GI-tagged goods while UP and Karnataka have 48 and 46 Gi products, respectively. Among the 48 GI goods of UP, 36 products belong to the handicraft category. In Varanasi region alone, 18 GI-tagged goods out of 23 belong to the handicraft category.
Home Ministry cancels LIFE’s Foreign Contribution Registration Act (FCRA) licence
The Centre for Policy Research (CPR), a think tank based in Delhi, has had its Foreign Contribution (Regulation) Act (FCRA) registration suspended by the Ministry of Home Affairs (MHA) for 180 days. A government official reported that the suspension was imposed due to initial breaches of FCRA regulations.
Foreign funds can only be received with an FCRA registration, meaning that the CPR will not be able to accept fresh foreign donations or use previously-accepted donations without the MHA’s approval.
Established in 1973, the CPR conducts research that contributes to high-quality scholarship, better policies, and a more robust public discourse on issues impacting India.
Anji Khad bridge, first cable stayed rail bridge in India
India’s Union Railway Minister, Ashwini Vaishnaw, has shared a timelapse video showcasing the construction of the Anji Khad Bridge, the country’s first cable-stayed rail bridge. With a total of 96 cables spanning a length of 653km, the bridge is part of the challenging Udampur-Srinagar-Baramulla-Rail Link (USBRL) Project in the Reasi district of Jammu and Kashmir.
The Anji Khad Bridge is supported by a single main pylon standing at a height of 331 meters above the river bed, with a height of 193 meters from the top of the foundation.
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