The EV industry is at an inflection point and batteries will play a critical role ahead -- batteries and related components typically constitute 35-45 per cent of an EV's costs.
'We will test the waters, ferret out information through our business correspondents, and only then open a branch'
'Instead of ACs, the government should do something to increase our salary.'
Anil Agarwal-led Vedanta's Sterlite Copper has come out with a fresh notification inviting expressions of interest (EoIs) to supply raw materials like copper concentrate, imported thermal coal, rock phosphate and petroleum products, among others, as part of its preparatory measures to restart production at its Thoothukudi unit in Tamil Nadu. This plant is likely to restart operations if a Supreme Court verdict goes in favour of the company. On June 12, the company had invited EoIs for carrying out plant 'restart activities'.
'As long as Amul was coming in with products it was not a problem because it was something value added and with a shelf life.' 'When it gets into the local market by procuring locally, it cuts into the market-share of local cooperatives.'
Anil Agarwal-led Vedanta's Sterlite Copper on Monday came out with an advertisement inviting expression of interest (EoI) for carrying out plant "restart activities" at its Thoothukudi unit in Tamil Nadu, that got closed more than five years ago following an order issued by the Tamil Nadu Pollution Control Board (TNPCB). The EoI for restart comes when the company is still awaiting the final judgement on the issue, and the court has only allowed it to do maintenance work. "We have initiated the upkeep and maintenance activities at the plant as allowed by the Supreme Court vide its order dated May 4, 2023, in coordination with the district authorities.
The maintenance work will include operations such as removal of remaining gypsum and leachate handling operations among others. Based on this, the district administration has now allowed the firm to maintain the plant after five years.
After dipping by as much as 17 per cent in April, readymade garment (RMG) exports of all textile categories in India are showing signs of recovery in May. Exporters in Tiruppur are indicating a rise in rupee terms during the month, while it may take at least a month for volumes to be back in positive terrain. Among the global majors that are placing orders in the textile hub include Walmart, H&M (Hennes & Mauritz AB), Tommy Hilfiger and Target.
The RBI raked in a massive net income gain from foreign exchange currency sales as a buffer for the rupee during tumultuous geopolitical upheavals last year owing to Russia's invasion of Ukraine.
While the fiscal year has just begun, any windfall surplus will be welcomed by the government as it bids to meet the fiscal deficit target of 5.9 per cent of GDP, amidst lack of clarity on exactly to what extent will recession in the West impact India's trade and tax collections.
Prime Minister (PM) Narendra Modi has been at the forefront of climate action and saving the environment campaigns - whether plogging at a beach in Mahabalipuram in 2019 or wearing a sky-blue 'sadri' jacket to Parliament made of material recycled from plastic bottles. Made by Karur-based sustainable fashion brand EcoLine Clothing (EcoLine), a brand of Shree Renga Polymers, front runner in polyethylene terephthalate (PET) bottle recycling and sustainable textiles in India run by IITians, the company recycles PET bottles and upcycles them into value-added products, such as garments. Three months on, the phone lines of Senthil Sankar, managing partner at Shree Renga Polymers and EcoLine, have been ringing non-stop since the jacket made out of recycled plastic at Karur, Tamil Nadu's textile capital, was worn by the PM to Parliament on February 8.
'Within a short span, it increased attendance, improved children's physical fitness, and led to a rise in the enrolment ratio.'
India's economy continues to be robust, but downside risks such as rising crude oil prices, adverse weather conditions, and the global banking crisis outweigh the upside potential in gross domestic product (GDP) growth in the current financial year (FY24), the finance ministry said on Tuesday in its Monthly Economic Review for March. "We reiterate that downside risks to our official forecast of 6.5 per cent for real GDP growth in FY24 dominate upside risks," the review said. "Opec's surprise production cut has seen oil prices rise in April, off their lows of low-seventies per barrel in March.
The Indian Space Research Organisation (Isro) on Thursday came out with the Indian Space Policy 2023 to promote greater private sector participation in the entire value chain of the space economy. According to the policy, Isro will encourage new-generation entities to participate in space exploration and human presence in outer space, including collaboration with domestic and international stakeholders. The policy also sets a road map for Isro to transition from manufacturing operational space systems to focus energies on research and development in advanced technologies.
Kerala on Monday became the first state to adopt a water budget in a bid to come up with a solution to water scarcity in certain regions there. The first phase of the project would cover 94 gram panchayats and 15 block panchayats. The Public Water Budget was released by Chief Minister Pinarayi Vijayan on Monday, along with the launch of the third phase of the Ini Njan Ozhukatte (Let me flow now) project, for the rehabilitation of irrigation networks in the Western Ghats.
'With a solid investment programme and sustainable development strategy, India can exceed 7 per cent growth per year, or a doubling of high-quality national income within a decade.'
'Silicon Valley people are generally used to layoffs.' 'Every person who has been in the industry for 15-20 years would have been laid off at least 3-4 times.' 'In India, we aren't used to that concept.' 'So when it came here, people were shocked.'
Automotive retail sales saw a 14 per cent rise in March on a year-on-year (YoY) basis, according to data released by the Federation of Automobile Dealers Associations (FADA). For the whole of financial year 2022-23 (FY23), sales grew 21 per cent YoY. For both March and the financial year, all categories, except for tractors, and including two-wheelers, three-wheelers, passenger vehicles (PVs), and commercial vehicles (CVs), posted double-digit growth. However, the total retail sales of 22.1 million for the financial year were still 12 per cent lower than the pre-Covid (FY20) level of 25 million, owing to an 18 per cent dip in the two-wheeler segment.
'The market has picked up for commercial vehicles. We are very close to pre-pandemic levels.'
On Easter, April 9, 10,000 BJP workers are being assigned to visit the houses of 100,000 Christian families. Plans are afoot to visit the homes of Muslims on Eid.
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