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Himanta Biswa Sarma performed Bhumi Pujan ceremony of 50 MW Solar Project being developed in Sonitpur, Assam by SJVN Green Energy Limited (SGEL), a wholly owned subsidiary of SJVN. The 50 MW Solar Project is being developed in Sitalmari village, in Barsola Block under Dhekiajuli Revenue Sector in Sonitpur district. It will be built at an estimated cost of Rs. 291 crores. The project will generate 101 million units of green energy in the first year and the cumulative energy generation over a period of 25 years will be about 2,319 million units. The energy generated will be supplied to Assam Power Development Corporation Limited at Rs. 3.92 per unit. Chairperson & Managing Director, SJVN, Geeta Kapur informed that SJVN has set its footprint in Assam and that SJVN Green Energy Limited (SGEL), the renewable arm of SJVN, is developing three solar projects of capacity 200 MW, 70 MW and 50 MW, thus amounting to a total power capacity in the state of 320 MW. Among these, the foundation stone for the 70 MW Solar Project in Dhubri, Assam was laid by the Prime Minister Narendra Modi on March 4, 2024.

India on Sunday signed a trade and economic partnership agreement with the European Free Trade Association (EFTA) — a grouping of Switzerland, Norway, Liechtenstein and Iceland — that includes a binding $100-billion investment commitment. As part of the Trade and Economic Partnership Agreement (TEPA), EFTA has committed to promote investments to increase the stock of foreign direct investments (FDI) in India by $100 billion in the next 15 years, and to facilitate the generation of one million direct employment in India through such investments, the government said in a statement. «The global leadership of EFTA countries in innovation and R&D across diverse spheres...will open up new doors of collaboration,» PM Narendra Modi said about the trade agreement.

mega trade deal between New Delhi and the four-nation European bloc EFTA will not only open up broad market access for Swiss businesses in India but is set to improve the legal framework and predictability for them, the Swiss government said on Sunday. The European Free Trade Association (EFTA) States — Iceland, Liechtenstein, Norway and Switzerland — signed a Trade and Economic Partnership Agreement (TEPA) with India that came after around 16 years of negotiations. Under the mega trade pact, the four European countries are looking at making an investment of USD 100 billion in India over the next 15 years. The trade deal will provide a window to Indian exporters to access large European and global markets besides allowing companies from the four EFTA countries to expand businesses and investment in India.

free trade pact with a four-member European bloc, Norway on Sunday said it will eliminate customs duties for almost 98 per cent of the imports from India under the framework of the pact. The ambitious trade pact, signed between India and the European Free Trade Association (EFTA) comprising Norway, Switzerland, Iceland and Liechtenstein, aims to expand trade across a range of areas including pharmaceuticals, manufacturing, new technologies and machinery. After the EEA (European Economic Area) agreement, this could become one of the most important trade agreements Norway has ever entered, said Norwegian Prime Minister Jonas Gahr Stoere. At a media briefing, Norway's Minister of Trade and Industry Jan Christian Vestre described the Trade and Economic Partnership Agreement (TEPA) as a major result-oriented milestone that would not only boost two-way trade but also promote a rules-based trading system.

European Free Trade Association (EFTA), comprising Iceland, Liechtenstein, Norway, and Switzerland, aiming to boost trade and investments between the two regions. This agreement is expected to bring several benefits to Indian consumers and the economy. Key Benefits for Indian Consumers One of the major benefits of this trade pact is the phased-out custom duties on imported goods, which will enable domestic consumers to access high-quality Swiss products such as watches, chocolates, biscuits, and clocks at lower prices. The agreement includes tariff concessions on a range of products imported from Switzerland, including seafood, mediterranean fruits, coffee, oils, sweets, processed foods, and wine, among others. This will lead to a drop in prices of these products in Indian markets, making them more affordable and accessible to Indian consumers.

free trade pact between India and the four-nation bloc European Free Trade Association (EFTA), Swiss State Secretary for Economic Affairs, Helene Budliger Artieda, affirmed that India will be world's premier manufacturing and service hub. She also said that the quality goods from India will get a very open market in Switzerland, adding that the Trade and Economic Partnership Agreement (TEPA) will also open job opportunities for the Indian youth. Speaking to ANI, the Swiss Secretary said, «It's a massive moment of joy for us. We've been negotiating this agreement for more than 16 years...I'm completely delighted that we managed to push it through during the past eight months.»

By James Oliphant and Nandita Bose

Investing.com — Here is your Pro Recap of the top takeaways from Wall Street analysts for the past week: upgrades for Shake Shack, G-III Apparel, Sea and Textron; downgrade for Old Dominion.

As Bitcoin hovers around $69,400, up nearly 1.50% on Sunday, its journey beckons keen market watchers for a Bitcoin price prediction. This recent surge, hinting at potential market shifts, sets the stage for an examination of Bitcoin’s trajectory amidst the broader financial landscape.

On Sunday, Shiba Inu takes a minor 1% dip in its price to $0.000035 with Shiba Inu’s substantial $20.67 billion market capitalization that not only underscores its significant market presence but also cements its status within the top ten cryptocurrencies.

Indian stock market: The Nifty stayed below the psychological 22,500 mark, with call writers at the 22,500 strikes significantly increasing their positions. On the downside, support is expected to hold at 22,400. The buy-on-dips strategy is likely to persist as long as it remains above 22,400.

India signed a free trade pact on Sunday with a group of European nations — Switzerland, Norway, Iceland and Liechtenstein — committing to reduce tariffs, while New Delhi receives $100 billion in investments over the next 15 years. India and the members of the European Free Trade Association (EFTA) held 21 rounds of talks over 16 years to clinch the broad-based Trade and Investment Agreement. Here are key facts about the trade pact:

₹71,301.34 crore, with Bharti Airtel leading the pack as the top gainer. In an unprecedented rally, the BSE benchmark climbed by 374.04 points or 0.50% last week, setting new records. Markets remained closed on Friday for Mahashivratri festivities.

India and four-nation European bloc EFTA on Sunday signed a free trade agreement to help promote investments and exports of key domestic services sectors such as IT, audio-visual, and movement of skilled professionals. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland. Union Minister Piyush Goyal, quoting PM Narendra Modi, said, «Despite structural diversities in many aspects, our economies possess complementarities that promise to be a win-win situation for all nations. With the opening up of enormous trading and investment opportunities, we have reached a new level of trust and ambition. The trade agreement symbolizes our shared agreement to open fair, equitable trade, as well as generate growth and employment for the youth.»

Bharti Airtel emerging as the lead gainer. In a record-breaking rally last week, the BSE benchmark climbed 374.04 points or 0.50 per cent. Stock markets were closed on Friday for Mahashivratri.

European Central Bank left interest rates unchanged for a fourth meeting as a softer outlook for inflation and economic growth bolstered expectations for cuts starting in June. Separate data showed the euro-area economy stagnated at the end of last year, underscoring the central bank’s forecast for slower growth in 2024 than previously estimated. In the US, the unemployment rate climbed to a two-year high in February even as hiring remained healthy, pointing to a cooler yet resilient labour market. In Japan, inflation in Tokyo last month surged back above the central bank’s target, bolstering the case to raise interest rates.

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corporate actions scheduled for this week. SBI Life Insurance Company, IIFL Securities, and Kirloskar Ferrous Industries will trade ex-dividend, while Waaree Renewable Technologies will trade ex-split this week. On Thursday, 14 March, Data Infrastructure Trust and Wonder Electricals (Re 1/share) will trade ex-dividend.

Further, macroeconomic data such as consumer price inflation and industrial production will also be tracked by investors.

Shreyash Devalkar, Head-Equity, Axis MF, says «rather than calling out a segment like PSU versus private versus NBFC, etc, I would like to more focus on which end use or which end segment these lending entities are catering to and the outlook on the credit growth in those segments along with the asset quality.» Incrementally macros appear very stable. RBI Governoe in a special interview to ET Now said that closer to 8% GDP is what they are working for this fiscal. Earnings season is just over. Elections dates would come out by mid-March. Is the market already pricing in the outcome? Shreyash Devalkar: We have always observed that when it comes to big events, like elections, markets tend to move up prior to that and in that context, the movement of the market in the last one month, three months, more importantly, and sixth month if you observe, then yes, it is getting broadly priced in.

India has close and longstanding relations with Mauritius, an island nation in the Western Indian Ocean, anchored in shared history, demography, culture and strategic partnership. A key reason for the special ties is the fact that Indian origin people comprise nearly 70% of the island’s population of 1.2 million. The relationship has been characterized by a high level of trust and mutual understanding at the leadership level and continued high-level political engagement. These special ties have resulted in uniquely close cooperation in maritime security, development partnership, capacity-building, cooperation in international fora, technical assistance through deputation of Indian experts to GOM, vibrant cultural exchanges and close people-to-people ties, officials explained. In this backdrop President Droupadi Murmu, will undertake a State Visit to Mauritius from 11th to 13th March, to attend the National Day celebrations of Mauritius on 12th March as the Chief Guest. A contingent of the Indian Navy will participate in the celebrations along with two Ships of the Indian Navy's First Training Squadron — INS Tir and CGS Sarathi.