Indian economy news

NEW DELHI (Reuters) - India on Sunday banned the export of anti-viral drug Remdesivir and its active pharmaceutical ingredients as demand rocketed due to a record surge in COVID-19 infections, leading to a crippling shortages in many parts. Authorities have blamed the ferocious resurgence of the virus mainly on crowding and a reluctance to wear masks. Still, religious gatherings have continued and Prime Minister Narendra Modi and Home Minister Amit Shah have themselves addressed election campaigns attended by tens of thousands of people, many without masks and hardly any following social distancing. As new COVID-19 cases surged to 152,879 on Sunday, the sixth record rise in seven days, harried relatives of patients made a kilometre-long queue to buy Remdesivir outside a big hospital in the western state of Gujarat, witnesses said. India, known as the pharmacy of the world, has already stalled major exports of coronavirus vaccines though its supply too has run short in some ... » Learn More about India bans Remdesivir exports as coronavirus rages on; rallies continue

Indian-owned Jaguar Land Rover is rushing through deliveries of small car parts to Britain from China, where supply chains are hit by the deadly coronavirus, the Financial Times said Wednesday. "We have flown parts in suitcases from China to the UK," said JLR chief executive Ralf Speth, quoted by the FT and other British media. Speth said Jaguar Land Rover's British plants were "safe for this week" and next, but that there was "a risk for overall production" thereafter, owing to further parts being delayed. Britain's biggest carmaker JLR, which is owned by Indian group Tata Motors, ordinarily transports the components by sea, which takes longer but is cheaper compared with transportation by air, the business daily added. Foreign firms from various sectors are facing disrupted supply chains in China because of the deadly virus. The death toll from the epidemic jumped past 2,000 on Wednesday after 136 more people died, with the number of new cases falling for a second ... » Learn More about Virus-hit Jaguar rushes car parts to UK in suitcases: Reports

As President Joko “Jokowi” Widodo’s administration moves closer to beginning its second year in October, a new Centre for Strategic and International Studies (CSIS) poll indicates more Indonesians are satisfied with the government’s performance as they see improvements in four sectors, namely the economy, law, politics and maritime affairs. The number of Indonesians who reported they were satisfied with President Jokowi’s administration climbed from 50.6 percent in 2015 to 66.5 percent in 2016, the findings showed. “The economic sector remains a challenge for the government,” CSIS researcher Arya Fernandes told a press conference on Tuesday. Despite these positive results, confidence in the Indonesian economy is still lacking, with citizens unsure whether the government has managed to boost Indonesia’s economic growth and enhance the country’s investment climate. The number of Indonesians who reported that they were satisfied with the current economic situation stood only at ... » Learn More about Indonesians ‘satisfied’ with govt’s performance: Survey

Despite public outcry and criticism of some of his policies, President Joko “Jokowi” Widodo has maintained a high approval rating, a public opinion survey has found. In recent months, Jokowi has been under fire for some controversies including the recent fiasco over the citizenship of Arcandra Tahar, the former energy and mineral resources minister. Jokowi’s tax amnesty program has also been under scrutiny. But all of this has not apparently impacted Jokowi’s popularity or his perceived acceptability. A recent study by the Jakarta-based Centre for Strategic and International Studies (CSIS) found that a majority of Indonesians approve of him and his performance in government. Of the 1,000 respondents that the CSIS interviewed for the survey, 66.5 percent said they were satisfied with the work of Jokowi’s administration. The survey recorded an 10.1 percent increase in popularity from what the administration achieved last year. The study found that Jokowi’s strongest approval ... » Learn More about Jokowi remains very popular: CSIS

China has administered 164.47 million doses of COVID-19 vaccines as of Saturday, the National Health Commission said on Sunday. This represents around 24.5 million doses in the past six days, as the country's vaccine rollout continues to accelerate. Last week a Chinese official said the country is expected to produce around 3 billion doses of COVID-19 vaccines by the end of the year. Chinese health authorities on Sunday reported 10 new confirmed cases of COVID-19 and 22 asymptomatic cases, bringing the country's total to 90,410, while the death toll remained unchanged at 4,636. The National Health Commission, in a statement, said all the new cases were imported infections originating from overseas. The number of new asymptomatic cases, which China does not classify as confirmed cases, rose to 22 from 11 cases a day earlier. The total number of confirmed COVID-19 cases in Mainland China now stands at 90,410, while the death toll remained unchanged at 4,636. Meanwhile, in ... » Learn More about China administers 164.47 million COVID-19 vaccinations as of April 10