New Delhi and Mint Street have voiced in recent months that despite the decadal-high inflation abroad, the external position of India is fairly healthy. But in the face of a strengthening dollar, and a widening trade deficit, the Reserve Bank of India has moved swiftly to defend the Rupee. The dwindling foreign exchange reserves are likely to leave India’s external position in a precarious spot.

The objective of this PLI scheme is to make domestic manufacturing globally competitive, create global champions in manufacturing, boost exports and create jobs. The government last year rolled out the scheme with an outlay of about Rs 2 lakh crore for as many as 14 sectors, including automobiles and auto components, white goods, textiles, advanced chemistry cell (ACC) and speciality steel.

Data due later Monday will probably show retail inflation quickened to 6.9% last month from a year earlier, according to a Bloomberg survey of economists as of Sept. 10. That compares with estimates for wholesale price inflation easing for a third straight month to 12.9%, in numbers scheduled for release Wednesday.

India banned exports of broken rice and imposed a 20% duty on exports of various other types on Thursday as the world's biggest exporter of the grain tries to boost local supplies and calm prices after below-average monsoon rainfall curtailed planting. India ships around two million tonnes of rice every month.

"It's an economy where the improvement in the ease of doing business has been very significant. All of this has unleashed a more favourable environment for the private sector, reflected positively in India’s growth rate, including in difficult times like Covid."

Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Anurag Jain said that a draft of the policy has been prepared after detailed public consultations and valuable suggestions have been received. "Stakeholders' consultations are underway to formulate the national e-commerce policy," he said.

The government also plans to form a multi-state cooperative society for seed culture and marketing as well as certification of organic products across the country, Amit Shah said at the annual general meeting of seven cooperative institutions of Amreli district in Gujarat, where the Assembly elections are due later this year.

As per the RBI's monthly data, Unified Payments Interface (UPI) transaction increased from Rs 9.83 lakh crore in April this year to Rs 10.73 lakh crore in August.

Insurance penetration in India increased from 3.76 per cent in 2019-20 to 4.20 per cent in 2020-21, registering a growth of 11.70 per cent. Insurance penetration measured as the percentage of insurance premium to GDP witnessed handsome growth during the year, mainly due to the outbreak of COVID-19.