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Showing posts from August, 2024

New Heights on Foreign Exchange Reserve Promising Growth Prospect for India’s External Industry

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India’s increasing Foreign Exchange Reserve (Forex) plays a crucial role in supporting the nation’s robust economic growth in a sluggish world economic scenario. In recent years, the country has made a remarkable history by touching the highest point of Forex reserve.  It has sufficient Forex accumulation to support the projected imports of the country for 11 months as per RBI. Source: https://www.msn.com/en-in/money/markets/indias-market-cap-crosses-5-trillion-milestone/ar-BB1mWZng The Forex reserve witnessed a total accumulation of US$ 651.5 billion as of 31 st   May 2024, the highest so far ever.  As per RBI’s recent Balance of Payment (BOP) data, India has gained US$ 63.7 Billion in Foreign exchange Kitty in 2023-24 .  India in terms of total reserves in the past few years is substantially driven by diverse components where the external industry has shown tremendous growth prospects. These accumulated reserves act as a cushion against the volatile curre...

https://aggrp.in/g7-commitment-to-create-a-net-zero-economy-by-2050/

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G7 , a group of major IMF-advanced global economies, are uniting for the safe future of mankind.  They have set a clear and encouraging roadmap to achieve a net zero target globally by 2050 . They have accepted the Comprehensive Roadmap prescribed by the International Energy Agency (IEA) for the global energy sector. The leaders of G7 ( the United Kingdom, the United States, Canada, Italy, France, Japan, and Germany ) reiterated their commitment to intensify the battle against Climate Change to achieve the common goal. Source: https://www.iea.org/reports/net-zero-by-2050 They have shown their full commitment towards the critical and formidable goal set in IEA’s Summit.  Strong policy actions have been taken to move forward on this difficult but achievable route to answer the energy security paradigm. These economies have also committed to further increase their clean energy financing share to developing economies of the world. This will help developing economies to take effe...

India Rising in Global Tourism Index 2024 Highlighting the Success of its Sustainable and Welcoming Tourism Initiatives

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India home to diverse terrains and multiple cuisines welcomes the world with an open heart and a deep belief in the spirit of  “Athiti Devo Bhava” . Over the years, substantial policy reforms have showcased India is growing as a popular destination with an extensive array of tourism and hospitality products for its domestic as well as international tourists and travelers.  Source: https://www.newsonair.gov.in/india-climbs-to-39th-position-in-world-economic-forums-travel-tourism-development-index/  With such a positive vibe, India has secured the 39th position in the Global Tourism Index 2024 by the World Economic Forum (WEF).  With an overall score of 4.25 out of 7, India has secured the highest position in the index among lower middle-income group economies . Earlier,  in 2021 India was ranked at the fifty-fourth position . The improved ranking is testimony to India’s comeback with an ability to be a preferred tourist destination for a range of hospita...