United States President Joe Biden is all set to visit India and is 'very excited' about the important initiatives he will be championing at the G20 Summit in New Delhi, according to senior White House officials.
The United Kingdom on Friday announced a joint investment package with Tata Steel worth 1.25 billion pounds, including a government grant of 500 million pounds, for the country's largest steelworks in Wales that will help protect thousands of jobs and boost the British economy. The government's grant has been dubbed as one of the largest British government support packages in history and a "defining moment" for the country's steel industry.
Russian energy giant Rosneft has appointed a former Indian Oil Corporation (IOC) director to its board in signs it may be looking at boosting trade links with India. G K Satish, who retired as director for business development at IOC in 2021, is one of the three new faces appointed to the 11-strong board of directors of Rosneft, according to a statement issued by the Russian firm. Satish, 62, is the first Indian to be appointed to the board of Rosneft.
'Maharashtra, Telangana and Karnataka were competing for the Foxconn-Vedanta semiconductor manufacturing plant'
Investor forum wants govt to take over exchange, raises doubts on claims of matching stocks; NSEL says default by brokers to be dealt with legally.
India and the United States have signed an agreement for cooperation in the development of Air-Launched Unmanned Aerial Vehicle (ALUAV), in yet another step to further expand bilateral defence and military cooperation.
Shreekant Sambrani remembers P R S 'Biki' Oberoi, personal friend and hospitality icon, who passed into the ages this week.
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
GSOMIA does not cover the exchange of classified information with Indian private industry. Washington wanted this covered too, given New Delhi's emphasis on the proposed 'strategic partnership' model of procurement.
A number of academicians as well as political scientists Yogendra Yadav and Suhas Palshikar, who were part of the textbook development committee of the NCERT, had asked the council to drop their names from textbooks over 'several substantive revisions of the original texts'.
India, the US and 12 other members of the IPEF grouping have signed a supply chain resilience agreement that would help mitigate risks of economic disruptions from supply chain shocks and improve crisis coordination. The agreement would help member countries like India to reduce their dependence on China and provide timely information to the IPEF member countries about potential supply disruptions. The COVID outbreak severely disrupted the global supply chain, as most countries were dependent on China for various products like pharma raw materials.
The Biden administration has reaffirmed its commitment to support India's permanent membership in a reformed UN Security Council and New Delhi's entry to the Nuclear Suppliers' Group.
Nothing is more promising than countries putting aside hubris and ideological differences to invest in our shared future, observes Durga Sreenivasan, a delegate at COP28.
The Tata group is planning to invest $90 billion in new industries such as mobile components plant, semiconductor, electric vehicles, batteries, renewables energy and e-commerce by 2027. The Tata group's investment in India is far higher than the $75-billion investments planned by Mukesh Ambani-owned Reliance Industries and $55-billion investment planned by the Adani group in the next five years in the country, the Economist reported recently. The investment by the Tata group is a shift in its strategy to focus more in the home markets instead of international markets where the group lost money.
'One thing about ISRO is that all the people who work there are passionate about their work.' 'They did not mind spending day and night over there.' 'Even today it is like that.'
The Air India Group has started vacating its offices, which are currently being operated from government-owned properties, from this month, as part of its strategy to consolidate workspaces across the country. The loss-making Air India and its international budget arm Air India Express were taken over by the Tata Group on January 27 this year, after successfully winning the bid for the airline on October 8, last year. Besides these two airlines, Tata Group also holds a majority 51 per cent stake in Vistara, its joint venture airline with Singapore Airlines (SIA), and a 83.67 per cent stake in budget carrier, AirAsia India.
India, Pakistan, Israel and South Sudan were the four UN member states which have not signed the NPT, the international pact aimed at preventing the spread of nuclear weapons.
Ahead of the state assembly elections due this year-end, Baghel made as many as 15 announcements in his address during the state-level Independence Day function at the Police Parade ground in Raipur.
Leaders of the United States, India, Australia and Japan did discuss the 'challenge' posed by China during the first meeting of the Quad, and they made clear that none of them have any 'illusions' about Beijing, US National Security Advisor Jake Sullivan has said.
'The focus needs to shift towards the ability to collect payments, particularly in tier-3 to tier-4 areas where acceptance is still lacking.'
Prime Minister Narendra Modi on Saturday announced the adoption of the New Delhi Leaders Declaration, a significant victory for India's G20 presidency that came amid increasing tensions and divergent views over the Ukraine conflict.
The group's much-touted acquisitions in recent years follow a series of disappointments in joint ventures.
National Security Advisor Ajit Doval will hold crucial talks with the top US leadership, including his counterpart Jake Sullivan, on the first high-level dialogue on Initiative for Critical and Emerging Technologies (iCET).
"Have just got the good news that due to the hard work of our teams and your cooperation, a consensus has been reached on New Delhi G20 Leaders Summit Declaration," Modi said while addressing the second session of the Summit at the Bharat Mandapam in New Delhi.
The constitution of both countries begins with the "three words -- We the People -- as President Biden just mentioned", said Modi, who is on his first state visit to the US.
Prime Minister Narendra Modi arrived in the Japanese city of Hiroshima on Friday to attend the annual summit of the G7 grouping and the third in-person Quad leaders' meeting during which he will exchange views with world leaders on global challenges and discuss ways to collectively address them.
India is unlikely to join the ongoing negotiations for a plurilateral deal on e-commerce at the World Trade Organization (WTO), notwithstanding a change in stance on data localisation and cross-border flow of data. Under the new draft digital personal data protection (DPDP) Bill, put out on Friday for public consultation, the government has proposed free cross-border flow of data with 'friendly' nations, significantly easing its earlier stance on data localisation. India has so far stayed out of a group of 87 countries, including the US, European Union, China, and Japan that are negotiating trade-related aspects on e-commerce since December 2017.
New Delhi has always maintained that its IPR regime is fully compliant with all international laws.
With a million-odd electric vehicles (EVs) - two-wheelers, e-rickshaws, buses and passenger cars - expected to hit the road this calendar year, the shift from gasoline-powered vehicles has become irreversible. Now the question is whether the supply chain is ready for this shift. Key components - the high-powered lithium-ion battery and the cells which go with it, the electric motor, and the electronics powered by chips - account for nearly 60 per cent of the cost of an EV.
The Genetic Engineering Appraisal Committee (GEAC) has recommended the environmental release of the genetically modified (GM) mustard variety DMH (Dhara Mustard Hybrid)-11, paving the way for the commercialisation of the country's first GM food crop. The GEAC said the recommendation was valid for four years from the date the approval letter was issued. Further studies and coordinated trials will have to be conducted jointly with the Indian Council of Agriculture Research (ICAR) within two years, according to the minutes of the GEAC meeting held on October 18, which was released on Wednesday.
The headline for corporate profit growth has been very encouraging in the July-September quarter (Q2) of 2023-24 (FY24), with the combined net profit of listed companies up by 38 per cent year-on-year. However, the earnings distribution has been very lopsided, with most of the growth coming from public-sector oil-marketing companies (OMCs), banks, non-bank lenders, automobile (auto) companies, and cement producers. By comparison, companies from information technology services, fast-moving consumer goods (FMCG), retail, and consumer durables were disappointed, experiencing a sharp slowdown in net sales growth and a relatively muted increase in reported net profit.
Foreign Secretary Vinay Kwatra on Wednesday refused to speculate on whether the G20 foreign ministers' meeting would be able to come out with a joint communique against the backdrop of widening differences between the West and Russia on the Ukraine conflict.
Essar group on Friday announced the signing of a USD 2.4 billion (Rs 19,000 crore) deal to sell certain ports and power infrastructure to ArcelorMittal Nippon Steel in one of the largest post-pandemic merger and acquisition deals in India. In a statement, the Ruia-run firm said the deal also envisages a 50-50 joint venture between Essar and ArcelorMittal for building a 4 million tonnes a year LNG import terminal at Hazira in Gujarat. Without giving details, it only identified certain ports and power infrastructure that are primarily captive to operations of the Hazira steel plant, which was acquired by ArcelorMittal Nippon Steel (AM/NS) in 2018-19, as part of the deal.
The cost of railway linking Mumbai and Ahmedabad is between $12.2 bn to $13.9 bn.
Telecom operator Bharti Airtel and IT major Tata Consultancy Services (TCS) have joined hands to build a 5G-based remote working technology using robotics, according to a joint statement. TCS during the trials has successfully tested two use cases of its Neural Manufacturing solutions on Airtel's 5G testbed in Manesar - remote robotics operations, and vision-based quality inspection, the statement claimed. "The 5G ecosystem will open limitless possibilities for enterprises to enhance productivity and serve their customers even better with digitally enabled applications.
"Prudence and caution" needs to be exercised, warns China.
Air India will purchase 220 planes from Boeing for $34 billion, with an option to buy 70 more aircraft that could take the total transaction value to $45.9 billion, a deal that US President Joe Biden described as a "historic agreement". While announcing the Boeing-Air India deal on Tuesday, Biden also asserted that together with Prime Minister Narendra Modi, he was looking forward to deepen the ties between India and the US. As per an announcement from the White House, Boeing and Air India have reached an agreement under which the airline will purchase 190 B737 MAX, 20 B787, and 10 B777X for a total of 220 firm order valued at $34 billion at list price.
Without naming China or any other country, Singh said the "top-down approach" towards solving problems has never been sustainable, adding often it leads to "debt trap, reaction from the local population and conflict."
Billionaire Gautam Adani-led Adani Group on Monday announced a Rs 20,000-crore investment for expanding the capacity of its Gujarat ports to 100 million tons per annum by 2020.
The competent authority under the Foreign Exchange Management Act (FEMA) has approved an order of seizure of over Rs 5,551 crore worth of deposits of Chinese mobile phone manufacturer Xiaomi -- the highest amount frozen till date in India -- the ED said Friday. The agency charged the popular Chinese phone maker with remitting foreign currency equivalent to Rs 5,551.27 crore to three entities -- one Xiaomi Group company and two US-based unrelated entities -- in the guise of royalty. The Enforcement Directorate (ED) had first issued the order of seizure of these bank deposits on April 29 under the FEMA and later sent it for approval of the competent authority, as required under the law that regulates foreign exchange violations in the country.
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