In the Rome Declaration, the G20 leaders thanked healthcare and frontline workers, international organisations and scientists for their relentless efforts to cope with the deadly COVID-19 pandemic.
Lauding India's progress in the energy sector, the International Energy Agency on Monday said that investment in the gas sector in the country would rise to over $50 billion by the year 2030.
Billionaire Mukesh Ambani's Reliance Industries has signed a pact to invest an undisclosed amount in a giant petrochemical hub being built in the UAE. The oil-to-telecom conglomerate will join the recently-formed Ta'ziz joint venture of Abu Dhabi state energy giant Adnoc and state holding company ADQ for developing the Ruwais Derivatives Park in western Abu Dhabi. A company statement said an agreement has been signed for Reliance to invest in the project but did not give details. Unconfirmed reports put the investment at about $1.5 billion.
State-owned Indian Oil Corporation (IOC) and a joint venture of billionaire Gautam Adani's gas arm and Total of France -- Adani Total Gas Ltd -- have bid for maximum number of licenses to retail CNG to automobiles and piped cooking gas to households in the latest city gas bidding round.
These figures are based on purchasing power parity of 2005.
India's primary deficit (Centre and states) for FY21 is assumed to be 6.8 per cent of GDP, according to the Economic Survey tabled in Parliament on Friday. It said the Covid-19 pandemic has created a significant negative shock to demand. Active fiscal policy -- one that recognises that fiscal multipliers are disproportionately higher during economic crises than during economic booms -- can ensure that the full benefit of seminal economic reforms is reaped by limiting potential damage to productive capacity.
'If we don't want to be the poorest large economy even in 2030, we need to be doing very much more than is being attempted.'
Flipkart has promoted several of its leaders into newer roles at a time when the Walmart-owned e-commerce giant has internally raised its IPO (initial public offering) valuation target to about $60 billion and aims for a US listing in 2023, according to the sources. "I am delighted to announce the promotion of some of our exemplary leaders," said Kalyan Krishnamurthy, chief executive officer, Flipkart Group, in an internal note, and which has been reviewed by Business Standard. "Each of them has been instrumental in delivering impact and creating long-term value for Flipkart.
The existing urban space is rapidly declining, the quality of life in Indian cities is among the worst in the world.
People are interested in the strength of India's economy, the country's stability, and the opportunities, says Stuart Tait, regional head of commercial banking, Asia-Pacific at HSBC.
India is on the cusp of rapid growth and this is a great reason for the country to be at the forefront of promoting clean energy, United States energy secretary Steven Chu said on Friday.
The rapid growth of India and China will overshadow the development of their Asian neighbours in coming years, with the purchasing power of their populations increasing to almost match consumers in the US and EU combined, a senior Doha Bank official has said.
With the birth of the world's seven billionth baby, Nargis, in Lucknow on Monday, the chamber said more involvement from the private sector must be encouraged to solve India's population woes.
If IOC is not allowed to run its own affairs, then we can see it close down in the next 10 to 15 years, warns Sudhir Bisht.
Social integration with inclusion is is most necessary.
Elon Musk's likely referring to waiver of 30% local sourcing norm for setting up single-brand retail
In a first in India, the fast-food joint is converting used cooking oil into biodiesel, which is used to power 20-25 trucks that make trips to around 275 restaurants carrying supplies from its distribution centre
Future strategy will not just revolve around EVs: Maruti Suzuki's Ayukawa. Maruti Suzuki's MD&CEO says electric vehicles cannot be a solution outside the cities.
TotalEnergies will acquire 25 per cent shareholding in Adani New Industries Ltd -- the firm that houses Adani Group's new energy business -- for an undisclosed amount, the two firms said in separate statements. "TotalEnergies has entered into an agreement with (Adani Group's flagship) Adani Enterprises Limited (AEL) to acquire a 25 per cent interest in ANIL," the French energy giant said.
Arunabha Ghosh on why India will increasingly become an energy great power, but not an energy hegemon.
The IOC said the refusal of visas for competitors went against the principles of the Olympic charter relating to discrimination and political interference from the host country.
Irani said the "Government of India took a series of measures for ensuring safety, security and well-being of women during the COVID-19 pandemic."
The report, 'The roots of growth: Projecting EM infrastructure demand to 2030', produced jointly by Cambridge Judge Business School and the Royal Bank of Scotland, predicts that the emerging world will need to spend $20 trillion dollars on infrastructure over the next 20 years.
JM Financial, Axis Bank, and Bank of America have been roped in as the bankers to run the mandate, say sources.
India Inc expects huge business opportunities to open up with the Nuclear Supplier's Group sanctioning an India specific waiver on Saturday.
Ethanol production in India has an advantage as its production could potentially leave sugar prices unaffected. Further, by blending petrol with 10 per cent bio-fuel, 80 million litres of petrol could be saved annually in the country.
Water shortage is likely to lead to political tensions and instability in the future, warns Simon George, President, Cargill India.
As per 2010 census, 19,18,53,000 people in India were of 50 years and above, which made about 16.4 per cent of the total population. According to the US Census Bureau, this is projected to increase to 20 per cent (26,49,13,000) in 2020 and 24.3 per cent (35,55,96,000) in 2030; 28.5 per cent (44,82,23,000) in 2040 and 32.6 per cent (54,04,24,000) in 2050.
The Chinese authorities have been rapidly building defence infrastructure along the Line of Actual Control, indicating that they are preparing for a long period of tension with India, points out Jayadeva Ranade, the former senior RA&W officer and China expert.
The groups plan to take on well-entrenched players like Amazon, Flipkart, and Paytm by merging their offline businesses with e-commerce initiatives.
Once ISRO masters the technology to send humans into space, the next step will be experimenting with technologies allowing humans to live in space.
The UK said the deployment of the carrier strike group marks the start of "a new era of defence cooperation with allies in India and the Indo-Pacific."
Calling for a rethink of its submarine building programme, Defence Minister Manohar Parrikar on Tuesday said India should look for greater numbers than the existing plan of constructing 24 such vessels.
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.
In December 2019, the India arm of Deloitte Touche Tohmatsu surprised many with its ultra-competitive bid to become the transaction advisor for the country's largest strategic divestment in Bharat Petroleum Corporation (BPCL). The multinational major quoted just Rs 1; the second-highest bidder, SBI Caps, reportedly quoted Rs 15-17 crore. For Deloitte, the motivation was to bag a prestigious deal adding a national energy company to its portfolio. No doubt, it expected BPCL to go to a marquee buyer in quick time.
According to research by IHS Markit, for an ecosystem still grappling with infrastructure issues -- the high cost of EVs and a greater OEM (original equipment manufacturer) focus on electrifying two-wheelers and commercial vehicles first -- the share of such vehicles is expected to be 4 per cent by 2030, reports Pavan Lall.
IOC 'suspends discussions' with India for hosting global events
Knight Frank and Royal Institute of Chartered Surveyors in their report said that 10 million homes will be delivered by 2022 as targeted by the government.
Chandrayaan-3's success is a must for India's space ambitions; we can't afford to lose out. And for realising our space dreams, the Indian private sector must be encouraged because if we lose this race, the moon, Mars, and mineral-rich asteroids will already be crowded before we reach there.
But the PwC report also added that India would not be able to bridge the gaps in infrastructure by 2030 even after spending heavily in transport and logistics.
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