Fineprint Vol.8 2020

The Ministry of Defence (MoD) has drafted the Defence Production and Export Promotion Policy 2020 (DPEPP 2020), aiming to bolster the country’s defense production capabilities for self-reliance and exports. Economic highlights of August 2020 include NABARD’s credit guarantee program for rural areas hit by COVID-19, projecting India’s digital payments market to reach Rs 7,092 trillion by 2025, and the kick-start of 8,363 oil and gas projects since April. Conversely, the UK entered a recession for the first time in 11 years due to the pandemic. India eyes ESG factors to attract FDI, plans increased investments with Poland, and inaugurates 45 highway projects in Madhya Pradesh. Singapore intends to raise minimum pay for foreigners in financial services, while 78 new routes are approved under UDAN 4.0, enhancing regional connectivity.