Business, Economy & Banking Current Affairs - 2020

Business, Economy and Banking in Current Affairs 2019 with latest news and current affairs in Agriculture, Industry, Banking, Capital Markets, Import and Export and Government schemes in commercial sector.

Amazon invests 1.5 billion USD for two Data Centres under Data Centre Policy of Telangana

The E-Commerce Giant Amazon Web Services has planned to invest 1.5 billion USD to set up two data centres in Hyderabad. The private firm will be helped by the Telangana Government under its Data Centre Policy

Highlights

The private firm Amazon has set a target of 5 billion USD of global investments for the next four years. In 2019, the company opened 1.8 million feet office in Gachibowli, Hyderabad that can accommodate more than 15,000 employees. The office is the first largest building owned by Amazon outside US.

Data Centre Policy

The Government of Telangana has framed a dedicated policy for data centres. Under the policy, the government will provide incentives to the firms that set up data centres in the state.

Data Centres

Data Centres are dedicated spaces that are used to house computer systems that are used for data storage purposes. A data centre that is of the size of an industry (like that to be constructed in Hyderabad) will consume as much electricity as that of a small town.

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India International Seafood Show held in Kochi

The Marine Products Export Development Authority Organized International Sea Food Show in Kochi. Around 5,000 delegates participated in the show. The show will provide a platform for overseas importers of Indian marine products and also for Indian exporters.

The Show is being held between February 7, 2020 and February 9, 2020.

Highlights

Around 350 stalls, 200 exhibitors and 5,000 delegates are to participate at the event. The show was previously held in Goa in January 2018. The show was organized under the theme

Theme: Blue Revolution: Beyond Production to Value Addition

IISS is one of Asia’s largest food fair. The fair is being held in Kerala after a gap of 12 years. Kerala’s Fisheries sector is important because it contributes 3% of India’s GDP.

Significance

The show aims to increase the seafood trade of India in global market from 4.1% to 6.7% by 2030.

Fisheries Sector

The Global Fisheries sector contribute to 1% of world GDP. The total world population involved in fisheries industry is 40.5 million.

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