A 29.5% on-year fall in engineering exports to $4.49 billion in August has hit as much as 73% of the engineering segments according to an analysis by EEPC India. Steel, iron, non-ferrous metals, industrial machinery, auto components and bi-cycle parts are among the most affected segments. India's engineering exports to 21 countries fell in August, while just four - Singapore, Germany, Malaysia and the Netherlands - posted an increase.
The yearly SBI Composite Index reading for September 2015 has come in at a four month high at 53.9, suggesting continued pick-up in economic momentum going forward. Last month, the index was at 53.4. The upturn has been majorly driven by manufacturing, while mining and electricity are still acting as a drag on economic activity, SBI said in its ‘Ecowrap’ report.
Telangana inked an agreement to purchase 1,000 MW of electricity from neighbouring Chhattisgarh. The two states in November last year had signed a memorandum of understanding (MoU) on the issue. As a follow-up to the MoU, the PPA was signed which will remain in force for 12 years.
The Centre raised the production target for the 2015-16 rabi crop season to 132.78 million tonnes from 130.75 mt last year. The roughly 1.6% increase in output is on the basis of inputs from all the states and greater soil moisture on account of the September showers.
Indian carriers registered an 18.66% increase in the total number of passengers carried during the month of August this year, as compared to the same month last year, and flew about 6.8 million passengers during the month. The increase in number of passengers carried by airlines in August follows a high-growth month of July, when airlines registered a 29.31% increase in passengers flown.
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