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Biz EOD: Manufacturing sector to rebound in Q4FY21; why COVID-19 panic has decreased in India

Catch top stories from the world of business and economy with BusinessToday.In's Biz EOD report 

twitter-logoBusinessToday.In | March 22, 2021 | Updated 23:53 IST
Biz EOD: Manufacturing sector to rebound in Q4FY21; why COVID-19 panic has decreased in India
Top stories from the world of business and economy

Industry chamber FICCI's latest quarterly survey on manufacturing points to a rebound of manufacturing sector growth in the current quarter of financial year 2020-21. While the risk of a potential surge of COVID-19 cases is very much there, the decision to allow mass gatherings (elections in five states of the country are also leading to such gatherings) explains what has changed in terms of the understanding of the disease, strengthening of the diagnostic and treatment infrastructure, development of vaccines and its administration to targeted high-risk groups in India in the last one year. Read for more top stories from the world of business and economy:

1. Manufacturing sector to rebound in Q4FY21; investment outlook improves

Sectors like medical devices, chemicals, fertilisers, pharmaceuticals, textile machinery, electronics and electricals, capital goods and metal and metal products are likely to have registered strong growth in the previous quarter (Q-3 2020-21), FICCI's latest quarterly survey said.

2. Hyderabad's Virchow to produce 200 million doses of Russia's Sputnik V vaccine

Virchow is the fifth Indian company to have an agreement with RDIF on Sputnik V. Dr Reddy's Laboratories was the first to announce a tie-up with RDIF to conduct the bridge studies (clinical trials) of Sputnik V vaccine.

3. One year of lockdown: 5 reasons why COVID-19 panic has decreased in India

Janata curfew anniversary: A year later, Covid-19 threat is far from over and several countries, including India, are experiencing another spike in the number of infections.

4. Insurance (Amendment) Bill 2021 passed in Lok Sabha

FM Sitharaman, while moving the bill for consideration and passage, said that expanding the FDI limit in the insurance sector to 74% was necessary as it will help insurers deal with matters regarding financial stress.

5. Delhi reduces legal drinking age to 21 from 25

Delhi lowers drinking age to 21 years: Additionally, the government stated that it will close all government liquor stores.

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