Fine on Apple, MoU signed between RBI and Bank Indonesia, what is the new update regarding Bullet Train, know what special happened in the business world in March.
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The month of March is over. This month many big news came out from the business world. Indian Railway Minister Ashwini Vaishnav gave a big update regarding Bullet Train. Federation of Indian Export Organization expects India’s exports to reach $450 billion in the current financial year. Talking about foreign countries, New Zealand’s economy witnessed recession for the second time. The Central Government approved the Electric Vehicle (EV) Policy to promote the manufacturing of electric vehicles. Apart from this, the European Union imposed a fine of two billion US dollars on Apple. The Reserve Bank of India and Bank Indonesia (BI) have signed a Memorandum of Understanding (MoU) in March to promote the use of local currency in bilateral trade. Scroll down to read all these news in detail.
New Zealand in recession for the second time, country’s concern increased
New Zealand’s economy entered recession for the second time. This happened in less than 18 months, which put the country in a period of concern. In the December quarter, New Zealand’s economy shrank by 0.1 per cent and in per capita terms it shrank by 0.7 per cent. Earlier in September, New Zealand’s GDP had seen a 0.3 percent decline. In 2023, New Zealand saw record levels of migration. These official figures were released by New Zealand’s statistics agency Stats NZ in March. Let us tell you that despite the record increase in population, New Zealand’s economy is continuously slipping downwards.
India’s exports can reach up to 450 billion dollars
Federation of Indian Export Organization has expected India’s exports to reach $450 billion in the current financial year. Organization President Ashwini Kumar said this. He said that despite geopolitical problems like the Red Sea crisis, the country’s export of goods is expected to reach $ 450 billion. The FIEO President further explained that the Red Sea crisis can be resolved by appropriately increasing marine insurance and freight charges.
Big update on bullet train
In the month of March, India’s Railway Minister Ashwini Vaishnav shared a big update regarding the Bullet Train. He said that India’s first bullet train will start operating from 2026. This train will run in a section from Surat to Bilimora in Gujarat. Bullet train operation in India is one of the ambitious projects of the Central Government.
March was good for automobile sector
The Central Government approved the Electric Vehicle (EV) Policy to promote the manufacturing of electric vehicles. The Commerce and Industry Minister said that under this policy, electric vehicles will be promoted in India and full attention has also been paid to bringing investment from reputed global EV manufacturers. Under the electric vehicle (EV) policy, any company will be required to invest at least $ 500 million (Rs 4,150 crore).
Great news for those traveling to Indonesia
In the month of March, there was a big good news for the tourists visiting Indonesia. In fact, the Reserve Bank of India and Bank Indonesia (BI) have signed a Memorandum of Understanding (MoU) in the month of March to promote the use of local currency in bilateral trade. The agreement has been signed by RBI Governor Shaktikanta Das and Bank Indonesia Governor Perry Warjiyo. After this agreement, now Indians will be able to use their country’s rupee in Indonesia.
Apple fined, will have to pay two billion US dollars
The European Union imposed an anti-competitive fine of US $ 2 billion on tech company Apple. This fine has been imposed on Apple for wrongly promoting its music app. The 27-nation bloc’s executive branch and top antitrust body said Apple has blocked streaming services from telling users about payment options available through their websites, allowing people to pay through apps downloaded from the iOS App Store. You will avoid being charged a 30% fee upon payment. Vestager said that because of this behavior of Apple, millions of people have paid two, three euros more per month for the music streaming service.
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