From just 0.2 per cent before the Russia-Ukraine war to now accounting for 35-40 per cent of total crude imports, India's reliance on Russian oil has surged -- drawing fresh scrutiny with US President Donald Trump announcing a penalty on top of a 25 per cent tariff, or tax, on all goods going to the US.
Billionaire Mukesh Ambani's Reliance Industries Ltd is estimated to have earned 724 million euros (about Rs 6,850 crore) from exporting fuel made from Russian crude oil to the US in one year, an European think tank said in a report. "From January 2024 to the end of January 2025, the US imported EUR 2.8 billion of refined oil from six refineries in India and Turkey that process Russian crude.
The merger and acquisition (M&As) transactions have picked up pace in the March quarter of 2024 with 455 deals amounting to $25.6 billion deal value announced. This is a 24 per cent rise in deal volume as compared to Q4CY23, according to PwC India report. This signals a shift from the declining trend observed in 2023, as per PwC India's report Deals at a glance.
Analysts wary about investment in 'unrelated' sectors, insiders say retail will break even by month-end.
'It is difficult to put a number right now as the value of dollar to rupee has also changed from the exchange rate last time. But don't be surprised if digital rights earns way more than TV.'
At the annual general meeting of Reliance Industries earlier this week, Isha Ambani, director at Reliance Retail Ventures, announced that the company is foraying into the fast-moving consumer goods (FMCG) space. But analysts say that only time will tell if this will lead to a disruption in India's FMCG market. While Reliance Retail's initial strategy is to take its own brands, which it currently sells at its own supermarkets and hypermarkets, to general trade, it is also looking at acquisitions.
Reliance Industries has put together an aggressive plan to build its drone business which includes expanding manufacturing capacity five-fold, participating in the new drone production linked incentive scheme, and experimenting with limited logistics payloads to deliver goods. The target is to become a key player in the expected $5 billion market in India by the end of the decade. The drone business is being carried out through a Bangalore-based start up, Asteria Aerospace, in which Reliance has taken a majority stake. Asteria is a subsidiary of Jio Platforms Ltd.
'The competition between the two is definitely going to be of great interest to the Indian market.'
While company executives refused to divulge further details, industry sources said that Reliance has earmarked a huge area in the SEZ for the project.
In addition to undertaking to validate prospects identified by the joint venture, GCA employed a play-based exploration methodology on the D3 block to address both the current prospect inventory and the 'yet to find' resource potential. In D3, GCA estimated 9.5 Tcf of inplace reseves. D-3 and D-9 blocks in the same KG basin may hold 9.5 Tcf and 10.8 Tcf of gas reserves respectively, UK-based Hary Oil and Gas Plc said.
Seeking the abolition of the SEZ policy, the INLD suggested framing of Manufacturing Investment Region policy to boost investment and production.
The blocks on offer include one in the prospective Krishna-Godavari basin in the Bay of Bengal, where Reliance Industries found a large field with estimated reserves of 14.5 trillion cubic feet of gas last year.\n\n\n\n
No business delegation has been cleared yet for Prime Minister Narendra Modi 's visit to America from Friday.
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Unlike Reliance Jio's focus on 4G, it plans to segment the data market based on device prices and spectrum.
Brokers like Vasudevan are struggling to keep themselves in tune with this super-informed, new-generation retail investor.
'Corruption is rampant in every office in the state from the villages right up to Gandhinagar. I have witnessed all these issues first hand... Before Narendra Modi became chief minister Gujarat had a debt of Rs 25,000 crore to Rs 30,000 crore. Today it is Rs 180,000 crore. There has been six-fold jump in public debt in Gujarat in the last ten years... Every child born in Gujarat owes a debt of Rs 30,000 today. How can you call this development? Look at how high taxes are in Gujarat. Look at the condition of our public health system. There are not enough doctors or nursing staff in government hospitals; not enough teachers in schools and colleges.' Three-time BJP MLA Dr Kanubhai Kalsaria rips apart Narendra Modi's policies.
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