The Parliamentary Standing Committee on Commerce has observed that a massive shortfall in the budgetary allocation of over Rs 1,900 crore by the finance ministry to the industry department may have an adverse impact on the implementation of infrastructure (infra) projects in 2022-23 (FY23). While the Department for Promotion of Industry and Internal Trade (DPIIT) had sought Rs 10,267 crore from the finance ministry for FY23, it received Rs 8,348-crore allocation. For the National Industrial Corridor Development & Implementation Trust (NICDIT), the finance ministry has allocated Rs 1,500 crore instead of Rs 2,400 crore demanded for the project.
7 key areas that the Budget must address to re-energise the infrastructure sector, suggests Vinayak Chatterjee.
'We would like to develop Andhra Pradesh into a logistics hub not only for India, but also for South Asia.'
'They are also sitting on huge public sector assets without many returns.'
India's largest private port operator Adani Ports and SEZ (APSEZ) Ltd has emerged as the highest bidder for the West Bengal government's greenfield deep-sea port project at Tajpur in a neck-to-neck fight with JSW Group, a source said on Friday. APSEZ and Sajjan Jindal-led JSW Group were the only two entities that took part in the financial bid round, though there were more port and logistics majors who had expressed initial interest in the estimated Rs 7,000-crore project in Purba Medinipur district. "APSEZ is the highest bidder, offering a share of 0.25 per cent of gross revenue. "It was marginally higher than the second bidder who offered 0.23 per cent," a senior government official said, without wanting to be named.
Only 13 nations voted in favour of Russia's call for a secret ballot on draft resolution on Ukraine.
Tirumurti also said India is 'deeply concerned' about the welfare and security of the Indian community, including a large number of Indian students, in Ukraine.
A 1987-batch Indian Foreign Service officer, Kamboj was previously Ambassador of India to Bhutan and was in June appointed India's Permanent Representative to the United Nations in New York, succeeding Ambassador T S Tirumurti.
TV visuals showed the giant crane falling on the ground with a loud thud.
The country's first ever carmaker, Hindustan Motors, is looking at a second coming. Talks are on for a joint venture with a European auto company focused on the electric vehicle (EV) space. A memorandum of understanding (MoU) has been signed and due diligence is expected to start shortly and will take 2-3 months to conclude.
Tata Group is in discussions with some major international companies, including those from Taiwan, for its foray into the semiconductor chip business. The Union government had earlier tried to bring in Taiwanese manufacturers Taiwan Semiconductor Manufacturing Company (TSMC) and United Microelectronics Corporation (UMC) for chip manufacturing in India. A person close to the development said the Tatas have now opened a separate channel for a possible tie-up. Currently, India mostly imports chips, which are fabricated and assembled to put into various applications, including automobiles, renewable power, mobile phones, televisions, and other electronic items.
The Jewar Airport or the Noida International Greenfield Airport will be spread over 5,000 hectares when fully built at an estimated to cost Rs 29,560 crore.
India was for the first time the leading country in the world for FDI, overtaking the US.
India will need $8 trillion (around Rs 588 lakh crore) of gross capital formation or new greenfield assets to become a $5 trillion (around Rs 368 lakh crore) economy by FY2027, a report said. The report by Deloitte said despite the COVID-19 disruption, FDI inflow into the country provides necessary optimism and display underlying strengths of the Indian economy. In FY2020-21, FDI inflows (including equity, re-invested earnings, and capital) amounted to a record $81.72 billion, 10 per cent higher than the previous financial year, it said.
The 193-member general assembly voted overwhelmingly on Wednesday to condemn Russia's "illegal so-called referendums in regions within the internationally recognised borders of Ukraine and the attempted illegal annexation of the Donetsk, Kherson, Luhansk, and Zaporizhzhia regions of Ukraine, following the organisation of the above-mentioned referendums".
The possible acquisition of Holcim India business will be one of the biggest inbound corporate deals in the country. Currently, Walmart Inc.'s $16-billion acquisition of Flipkart Online Services in 2018 remains the biggest acquisition of an Indian asset by any acquirer, followed by BP plc acquisition of 30 per cent stake in Reliance Industries' 23 oil and gas production blocks in 2011 for $7.2 billion. Bloomberg reported late on Wednesday night that Holcim - the world's biggest cement maker - is considering a potential sale of its India business and gauging interest in its controlling stake in Ambuja Cement.
The series, comprising five ODIs and three T20Is, will mark the Indian team's return to competitive cricket after almost 12 months.
Post-bribery disclosure, Cognizant is not pursuing greenfield expansion in the country and relying on leased facilities for new demands. The incident, which came to light in 2016, is also said to have claimed 200-300 jobs so far mainly in areas like administration, legal, and procurement.
There is little that Andreas Schmid, the Swiss-born chairman of Flughafen Zurich AG (Zurich Airport International AG), and Yogi Adityanath, chief minister of Uttar Pradesh (UP), could have in common. But Schmid, whose company is building the Noida airport in partnership with the UP government, finds himself on the same footing as the firebrand Hindutva leader who rules the state. Both hope the Rs 30,000-crore ($4 billion) project, hanging fire for 20 years, shows some progress when UP goes to the polls in 2022.
BPCL's impending privatisation and RIL's stake sale to Saudi Aramco raise questions about the future of the West Coast Refinery, once touted as the world's largest.
Over the past few days, the Biden administration has been reaching out to its friends and allies to support it against Russian aggression in Ukraine.
The RBI is of the view that it cannot carry out satisfactory due diligence for granting registration because the funding is from a jurisdiction that has been identified by FATF as having weak measures to combat money laundering and terrorist financing.
Global steel giant ArcelorMittal on Thursday announced the appointment of Aditya Mittal as its chief executive officer (CEO). Aditya Mittal, son of steel baron Lakshmi N Mittal, is the chief financial officer (CFO) of the company, and will succeed his father in the new role.
The words 'industry', 'industrial development', 'jobs', and 'employment' have been ringing with higher frequency since Mamata Banerjee stepped into her third term with landslide victory after a high-octane election last year. "Our government's next target is industrial development," the chief minister (CM) had been heard stating at different public meetings in the past few months - perhaps setting the tone for the sixth edition of the Bengal Global Business Summit (BGBS) slated for later this month. Investor summits by any state are about intent, big numbers, and tall claims. Yet in competitive federalism, its importance as a marketing tool is undeniable.
Taking to the social media platform, Modi captioned the images, "Serene and splendid! Clicked these pictures on the way to Sikkim. Enchanting and incredible!"
The minister emphasised that India will play its due role in advancing global food security and it will do so in a manner in which it upholds equity, displays compassion, and promotes social justice.
Govt to review decision after demand assessment.
The Union Cabinet on Wednesday approved a Rs 76,000 crore policy boost for semiconductor and display manufacturing ecosystem in the country in an bid to position India as a global hub for hi-tech production. Announcing the decision of the Cabinet, IT and Telecom Minister Ashwini Vaishnaw observed that electronics plays an important role in everyday life, and semiconductor chips forms a crucial part of electronics. Outlining the details of the scheme, he said the Rs 76,000 crore programme has been approved for the development of semiconductors and display manufacturing ecosystem.
The recent Cabinet approval to private and greenfield airport policies has enhanced the powers of the Directorate General of Civil Aviation (DGCA), which is now one of the key licensing authorities for almost all future airport projects in the country.
The President-elect also announced the nomination of former Secretary of State John Kerry as Special Presidential Envoy for Climate, the first such official to sit on the national security council.
Abstaining in the UN General Assembly on a vote to suspend Russia from the UN Human Rights Council, India on Thursday asserted that if it has 'chosen' any side, it is the side of 'peace and it is for an immediate end to violence.'
The good news for PepsiCo is that the foods segment has normalised much faster to pre-pandemic levels than beverages.
What is being exposed is we have no real doctrine and no idea how to deal with the world, asserts Aakar Patel.
The first commercial flight from Pakyong would begin from October 4.
That would reverse the growth trend of around 11 per cent per annum, which the industry has logged over the past ten years, making it one of the most adversely-affected sectors of the economy.
Two new venues, Thiruvananthapuram in Kerala and Barsapara in Assam are in contention to host international matches during the home season in which India are set to play a record 23 international matches at home between September and December.
Adani group on Tuesday said it has taken over the management of Mumbai International airport from the GVK group. The group last August had announced that it would acquire GVK Group's stake in Mumbai airport. Adani group will have 74 per cent stake in Mumbai's Chhatrapati Shivaji Maharaj International Airport, post the stake purchase transaction, with 50.5 per cent being bought from GVK group and 23.5 per cent from minority partners including Airports Company South Africa (ACSA), and Bidvest Group, it had said.
How can we compare say an upcoming Munjal University to an IIT-Mumbai?
"I am saddened, however, that there is a small, handful of members that seem to be still tolerating the war," Sergiy Kyslytsya said after the Security Council voted on the United States-led draft resolution.
Guterres, who opened an emergency meeting of the 15-nation Security Council on Ukraine late Wednesday, in his brief off-the-cuff remarks said 'if indeed an operation is being prepared, I have only one thing to say from the bottom of my heart: President Putin, stop your troops from attacking Ukraine. Give peace a chance. Too many people have already died'.
