It is the low cost of iron ore extracted from their adivasi homeland mines that enables steelmakers like Tata Steel and Essar, and miners like NMDC, not only to be among the most profitable companies in India, but also gives it the financial muscle to make huge overseas acquisitions. Ultimately, it is the poor adivasi who pays for it with his home and hearth and gets no credit for it! Either from the State, which connives in their exploitation, or the industry that lords over their resources, says Mohan Guruswamy.
Naxals allegedly set on fire a conveyor belt of National Mineral Development Corporation in Chhattisgarh's Dantewada district in the wee hours on Wednesday causing production disturbance to the tune of 40,000 tonnes.
Promising Central Bureau of Investigation probe into mining, chit fund and other scams in Odisha, Congress on Friday said it would review all MoUs signed by BJD government in the state in last 10 years, provide pucca houses to landless and allowance to unemployed youths if voted to power.
Richest Indian Gautam Adani-led group's flagship firm on Wednesday filed an offer letter with stock exchanges for a proposed Rs 20,000 crore follow-on public offer (FPO). The FPO of Adani Enterprises Ltd (AEL) is planned to open on January 27 and close on January 31, according to the offer letter. Of the Rs 20,000 crore proceeds of the FPO, Rs 10,869 crore will be used for green hydrogen projects, work at the existing airports and construction of a greenfield expressway.
'Not even a single rupee from the electoral bonds should be allowed to be used in the election.' 'If it is used in the election, it will taint India's electoral process itself.'
Essar Steel aims to participate in the indigenisation of products used in naval defence
India plans to double coal production by 2020
Corporate India is more dependent than before on exporters of IT services such as Tata Consultancy Services (TCS), Infosys, and Wipro for earning foreign exchange. Such companies account for nearly 43 per cent of the forex revenues of listed firms, up from 22 per cent a decade ago. The listed IT services companies earned nearly Rs 4.2 trillion through exports in FY22, up 15 per cent from the Rs 3.65 trillion a year earlier. In comparison, the forex revenues or exports of the rest of the BSE500 companies were down 11.9 per cent to Rs 5.6 trillion last financial year.
The Indian economy will grow by 6.9 per cent in 2011-12 against 8.4 per cent in the last financial year according to government estimates.
The approval was announced by Environment Minister Greg Hunt, who said "after undertaking a thorough assessment and consideration under national environment law, I have approved the Carmichael Coal Mine and Rail Infrastructure project, subject to 36 strict conditions".
The slowdown has mainly been on account of poor performance by the manufacturing and mining sectors.
'Inter-ministerial coordination, information on the proposed PSUs, and due diligence are taking longer than expected to conclude the process.'
In terms of industries, 10 out of 23 industry groups in the manufacturing sector showed positive growth during November 2018.
Gross non-performing assets in system have grown to 4.1 per cent in FY14 from 3.4 per cent a year ago
There was buzz of Piyush Goyal being elevated to Cabinet rank but only Prakash Javadekar made the cut.
Kamal Haasan is the new addition to the action thriller film Project K, which also features Prabhas, Deepika Padukone, Disha Patani and Amitabh Bachchan.
Former Finance Minister P Chidambaram on Monday said the high growth that Indian economy has logged in the first quarter of the current fiscal was on account of the UPA policies and the new government must give it the due credit.
During the April-July period of this fiscal, IIP growth stood at 5.8 per cent, as against 9.7 per cent in the corresponding four-month period last year.
A large quantity of weapons, including AK-47 rifles and mines with Pakistan-marking were recovered from the slain terrorist.
Starting the new financial year on a positive note, the industrial growth more than doubled to 9.4 per cent in April 2004.
The manufacturing sector, which accounts for over 75 per cent of the total weight of the index, grew by just 5.6 per cent in May.
Elaborating on this theme, Petroleum Minister Dharmendra Pradhan pointed out that if the power sector had not been opened up through reforms initiated in 2003, India would still have been in darkness.
As per use-based classification, primary good registered a growth of 7.4 per cent, intermediate goods 22.4 per cent, and infrastructure/construction goods 0.1 per cent in February 2020 as against the same period a year ago.
The government also increased the power of the FIPB.
India's private sector activity contracted further in August, reflecting faster contractions of both manufacturing and services output, amid decline in new orders and tough economic conditions.
Private lenders have also been expanding their branch and automate teller machine networks aggressively.
Factory output in March, as measured in terms of the Index of Industrial Production released today, also witnessed lower growth of 7.3 per cent, compared to 15.5 per cent expansion in the same month a year ago.
Taken aback by the attack, Orissa government promised early clearances to mega steel projects, including Mittal's.
According to the report by Swiss firm IQAir released on Tuesday, India's annual average PM2.5 level in 2022 was 53.3 g/m3, slightly lower than the 2021 average of 58.1.
The manufacturing sector, which constitutes 77.63 per cent of the IIP, contracted by 0.4 per cent in March as compared to 5.7 per cent expansion in the year-ago month.
Spotlight likely on cement, metals, road cos
During April-June this fiscal, the Index of Industrial Production grew 10.1 per cent, as against 10.4 per cent in the year-ago period.
The next auction for bauxite blocks in Odisha may see heightened interest with Adani Group charting an entry into alumina refining and existing players looking to boost capacity. Hemant Sharma, principal secretary, Odisha industries department, said that three bauxite blocks have been scheduled for auctions this year. Adani Group - which will be setting up a 4-MMTPA alumina refinery and may enter aluminium production - is expected to bid for mines, though raw material linkages shall be available from Odisha Mining Corporation (OMC).
Belying fears of a slowdown, industrial growth accelerated to 13.8 per cent in July from 7.2 per cent in the corresponding month last year, on the back of a 63 per cent jump in capital goods production.
Retail inflation remained above the RBI's comfort level for the second consecutive month despite slipping slightly to 6.26 per cent in June while the factory output recorded a growth of 29.3 per cent in May, mainly on account of the base effect, the government data showed. The marginal slippage in the Consumer Price Index (CPI)-based inflation was noticed despite little firmness witnessed in the food inflation which inched up to 5.15 per cent in June from 5.01 per cent a month ago. Retail inflation based on Consumer Price Index (CPI) was 6.3 per cent in May 2021 and 6.23 per cent in June 2020.
India's industry sector grew by 6.7 per cent in July 2005 compared to 8.5 per cent in the same month a year ago.
Karnataka proposes to auction 15 of its Category-C mines to end-users.
IIP down due to poor show by manufacturing, mining and power sectors
'There is a need for a national task force with a singular objective to increase automotive exports.'
The 64 people missing after a massive landslide in northwest China's Shaanxi Province were presumed dead on Sunday, after rescuers failed to detect life at the site four days after they were buried under about 1 million cubic metres of mud.
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