The standing committee on labour, textiles and skill development in its report on the man-made fibres (MMF) was informed by the textile ministry earlier this year that out of 67 applicants, 64 projects with a proposed investment of Rs 19,798 crore were approved by a selection committee under the PLI scheme.

While Gujarat saw the highest number of proposed projects (13), Madhya Pradesh cornered the highest amount of proposed investment (Rs 3,513 crore).

About 245,362 #jobs will be potentially generated through this PLI scheme.

#Textile #MakeInIndia

Read more - https://t.co/NqeMJGbWZO

According to reports, the sovereign debt of India and Indonesia lost 0.4% and 1.5% respectively for dollar-based investors in the third quarter, less than other emerging Asian markets including China.

#Economy
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#Explained

It means our bonds are more stable and perform better than most emerging market economies including China.

Practically it means if we go in market to sell our bonds to get money we would get many buyers and at lower interest rates because ours is in more demand and stable. So it's a good thing.

India abstains from UNHRC resolution that called for debate on human rights in Xinjiang, China.
Pak, Nepal voted no.

#ForeignAffairs

Reliance Jio started beta trials of #5G services in the national capital along with three other cities - Mumbai, Kolkata and Varanasi - with users getting download speed of over 1 gbps.

#Telecom
https://aninews.in/news/business/reliance-jio-5g-beta-trials-begin-in-delhi-over-1gbps-download-speed-seen20221006175632/

Since January 2022, 1.62 crore tourists have visited Jammu and Kashmir, which is the highest in 75 years of Independence.

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Indian Airforce’s new combat boots

China's "smartphone maker Xiaomi Corp on Sunday said it was 'disappointed' with an Indian order that froze $682 million(5551 cr rs) of its assets...a probe found Xiaomi had made illegal remittances to foreign entities by passing them off as royalty payments."

https://t.co/SKSYvGGNMy

New National Logistics Policy leverages tech/data to enable ₹16 lac+ crores/yr (5% of GDP) cost saving by 2030.

"As many as 30 different systems of seven key departments are being integrated under the Unified Logistics Interfere Platform (ULIP) through more than 100 application programming interfaces (APIs) covering 1,600 data fields".

#DigitalIndia #NLP #Reforms #Infra
https://t.co/m9Rx1DFSgE

Bangladesh's posh parts and economic hubs to face load shedding because they're unable to cope up with increased #energy prices.

#IndianSubcontinent
https://t.co/nHRo0EGwec

Karnataka Transport Department has issued notices to cab aggregators like Ola, Uber, and Rapido, ordering them to discontinue their auto services in Bengaluru, calling it illegal. The development comes after complaints of aggregators charging ₹100 for a 2 km auto ride.

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While the RBI is already using AI and ML in supervisory processes, it now intends to upscale it to ensure that the benefits of advanced analytics can accrue to the Department of Supervision in the central bank.

The department has been developing and using linear and a few machine-learnt models for supervisory examinations.

#DigitalIndia
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India’s merchandise #exports in April-September 2022-23 was USD 229.05 billion with an increase of 15.54% over USD 198.25 billion in April -September 2021-22. #MakeInIndia

🔖https://t.co/tVLvBxOKNf

Reserve Bank of India will soon commence the pilot launch of e-rupee for specific use cases as it tests digital currency in India.

#India
#RBI #Erupee #DigitalCurrency

https://mybs.in/2b1L1Id

#Meme of the day

#Explained