Engineering giant Larsen & Toubro (L&T) is looking to divest its exposure to road and power concessions and incubate digital and e-commerce businesses as part of its new five-year plan ending 2025-26 (FY26). The base year for the plan is 2020-21 (FY21). The blueprint, called Lakshya 2026, is intended to help the company exit sub-scale businesses, concentrate on high-technology (tech) manufacturing, construction and green energy projects, and increase its share from information technology (IT) and digital services. The lending operations of the financial services business, meanwhile, will be reorganised, with focus on retail lending.
The government on Thursday allowed free inter-state wheeling of renewable energy used in the production of green hydrogen and ammonia as it seeks to boost usage of the carbon-free fuel and make India an export hub. Unveiling the first part of the much-awaited National Hydrogen Policy, Power and New and Renewable Energy Minister Raj Kumar Singh said the government is targeting production of 5 million tonnes of green hydrogen by 2030. Oil refineries to steel plants require hydrogen to produce finished products.
Modi has set a target of generating 100 Gw of solar power by 2022.
Modi's unexpected announcement of achieving net zero by 2070 may have neatly deflected the pressures on India to sign up to an ambitious pledge but it does nothing to dispel the ecological emergency that threatens all life on the planet, , points out former forerign secretary Shyam Saran, the prime minister's special envoy and chief negotiator on climate change 2007-2010.
Around 15 years ago, when Reliance Industries (RIL) struck natural gas in the Krishna-Godavari (KG) basin off the east coast, the government made plans to supply that fuel cheaply to scores of generators that sprang up in India triggered by the discovery. Most of the plants, which account for 6 per cent of India's total generation capacity, operate sparsely after the KG-D6 area first failed to meet production targets, and then finally shut shop. Affordable domestic gas was why those thermal plants came up and the rate of the fuel today is why those generators hardly operate. Record liquefied natural gas (LNG) rates may yet again unravel India's ambitions to expand use of gas in industries, households and vehicles. Rates, while volatile, may stay strong this decade as developed nations with higher purchasing power embrace gas as the transition fuel.
Single window clearances for realty must.
Saudis are interested in expanding their relationship with India, given it is becoming the main driver of crude demand growth in Asia
Reliance's big-bang entry across the solar ecosystem will cut dependence on Chinese imports drastically. And Ambani's repeated emphasis that RIL's new energy foray will be 'a truly global business' points that his group is playing not just for a share of the Indian pie but to be the OEM in the larger 5,000 GW global market by 2030, points out Shailesh Dobhal.
Sri Lanka will re-acquire 99 World War II-era oil storage tanks leased to Indian Oil Corporation in the eastern port district of Trincomalee, Energy Minister Udaya Gammanpila announced on Wednesday.
India may see a structural shift in supplies of crude oil with Russia emerging as a key source of fuels, a development that reduces New Delhi's dependence on West Asian oil, gives Indian refiners better bargaining power with price-setter Saudi Arabia, and improves overall energy security. The unexpected surge in supplies of Russian crude in the last few months, unthinkable until the war in Ukraine, may also deliver other unforeseen gains such as boosting exports of refined fuels to Europe, which historically has counted on Russian shipments. India has jumped on to the bandwagon of opportunistic buying of Russian crude but if calibrated carefully, Urals crude can be a long-term asset for India refiners.
Modi said India will pursue its dreams in partnership with its international friends.
US rate hike fear keeps Asian firms in check; India most upbeat.
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India's hydroelectric power generation grew 17.5 per cent to 7.5 billion units in January this year from 6.4 billion units in the same month of 2012.
In Gujarat, of the 12.5 million hectare of area under cultivation, while six million is dependent on rainfall, two million is covered by groundwater, a bulk of which is said to be in north Gujarat. Scanty rainfall in the last one and half years has not only depleted groundwater level but also affected dams.
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The government wants to generate 100,000 Mw of solar power by 2022.
The Budget emphasises on capacity building and empowerment of marginalised sections of society including farmers.
Here is the full text of the joint statement issued by India and the US.
Hemant Shivsaran lists the number of projects the Modi government has announced since August to woo Gujarat voters.
An all-new processor that is 40 per cent faster, a camera that combines a wide and telephoto lens to capture images, and the latest iOS 10, have teamed together to get your eyeballs and pockets.
The Mahindra group's Igatpuri plant becomes the first in India to be declared carbon-neutral. Ashish Narsale / Rediff.com finds out how this was achieved.
India Gas Solutions Pvt Ltd -- the equal joint venture between the Mukesh Ambani-led firm and Europe's second largest oil firm - is among the three companies shortlisted by Gujarat government for giving out 25 per cent stake in the Mundra terminal.
'This is a crisis which did not happen overnight. It was happening slowly.' 'Now we are mining very fast and this crisis won't last long.'
The storage of water in the six major reservoirs in the state was just 6.2 per cent of capacity as of April 27, 2017, reports T E Narasimhan and Gireesh Babu.
India is the 4th largest oil consumer after the US, China and Japan.
Around 80 mn rural households are estimated to have no access to grid power.
In a communication to all states and union territories, the NDMA said due to several weeks of lockdown and the closure of industrial units, it is possible that some of the operators might not have followed the established standard operating procedures.
The immediate need is to put more money in the hands of agriculture-based and rural households to improve their purchasing power, says S Mahendra Dev.
'Understand one thing, if you want immediately and magically that things should become cheap, it's not possible. It's a long-term policy.' 'Inflation is linked to the storage system and with the production system. Whenever production rises, prices go lower. So if we store when the prices are low and release them when prices rise, prices can be maintained.' 'The problem is that in our country fruits and vegetables worth Rs 110,000 crore go to waste as they rot. And grains worth Rs 85,000 crore rot. So the storage system is another big reason for inflation.' Union Transport Minister Nitin Gadkari in an exclusive interaction with Sheela Bhatt/Rediff.com
The deadly virus, which has killed over 5,000 people globally, has spread to 46 of the 50 US states.
The uproar over 'dams' following the Uttarakhand disaster is ill-informed & potentially counter-productive, says Anand Sankar
Modi said that the ocean economy held 'enormous promise'.
They belong to different budget segments but when it comes to features and looks these seven stand out in the crowd.
A limited number of activities will remain prohibited across the country, irrespective of the zone, including travel by air, rail, metro and inter-state movement by road, running of schools, colleges, and other educational and training/coaching institutions.
Price, specifications, features -- it's all here.
His father is a former finance minister. His brother is a minister in the Modi government. But Sumant Sinha wants nothing to do with politics and tells Shreya Jai why he is bullish on the renewable energy sector.
The Z3 promises a lot in terms of entertainment and performance. Let's see if it does justice to the previous two Xperia flagships.
This is the joint statement issued by the ministry of external affairs on the visit of US President Barack Obama to India.
India's nuclear establishment is continuing its march of folly at the expense of safety in the false belief that atomic power is the energy of the future. It's not. Nuclear power is in relentless global decline, says Praful Bidwai.
Here's the full text of President Ram Nath Kovind's customary address to the joining sitting of Parliament on the first day of the budget session.
India hopes to bridge gap with US to buffer against a Paris agreement that restricts country's developmental space.
