Targeting US dollar is not India’s economic policy, but looking for ‘workarounds’: EAM (The Indian Express)
India is pushing for international trade in its domestic currency with key partners like Russia, but External Affairs Minister Jaishankar clarified that avoiding the US dollar is not part of its policy, unlike some nations. Jaishankar emphasized India’s need for alternative trade settlements due to dollar shortages faced by key partners and challenges posed by US sanctions, particularly for oil and agricultural exports. He also highlighted that a multipolar world would eventually influence currency use in global trade, noting that Russia and China have already significantly reduced dollar reliance in their bilateral exchanges.
Modi inaugurates projects worth ₹84,000 cr in Jharkhand (Business Standard)
Prime Minister Narendra Modi launched development projects worth over ₹83,700 crore in Jharkhand, prioritizing the upliftment of tribal communities. He unveiled the Dharti Aaba Janjatiya Gram Utkarsh Abhiyan, a ₹79,150 crore initiative focused on the comprehensive development of over 65,000 tribal villages across 30 states and Union Territories. Modi emphasized that the BJP government is committed to tribal progress, aligning with Mahatma Gandhi’s vision of national development through tribal empowerment.
Govt in talks for ‘made in India’ label scheme (mint)
The government is considering a new scheme to strengthen the “Made in India” label, aiming to create a powerful global brand identity similar to “Made in Japan” or “Made in Switzerland.” A high-level committee is discussing how to highlight India’s strengths in sectors like textiles, building a distinct image associated with Indian quality. The India Brand Equity Foundation (IBEF), a trust under the Department of Commerce, currently promotes Indian products overseas, but experts stress that focusing on quality is crucial for the success of Brand India.
Nepal to sell power to Bangla via India (mint)
Nepal, Bangladesh, and India will sign a long-awaited tripartite agreement to export electricity from Nepal to Bangladesh, using India’s transmission line for distribution. Nepal will sell 40 MW of electricity annually to Bangladesh during the rainy season (June 15 to November 15) at a rate of 6.40 US cents per unit, with estimated earnings of $9.216 million over five months. The electricity will be transmitted through the Dhalkebar-Muzaffarpur 400 kV line, with the metering point in Muzaffarpur, India.
Bhutan foray by Anil Ambani’s Reliance (The Hindu)
The Reliance group, led by Anil Ambani, has partnered with Bhutan’s Druk Holding and Investments Ltd. (DHI) to undertake renewable energy projects, focusing on solar and hydropower. This collaboration aims to support Bhutan’s net-zero goals by implementing green energy and innovative technologies, working closely with government-owned companies. A new entity, Reliance Enterprises, has been established to promote investments in Bhutan’s renewable energy sector.
