The government's two-year-old production-linked incentive (PLI) for air conditioner (AC) components has boosted domestic production, with average value addition or localisation increasing from 25 per cent to 55 per cent now, according to the scheme's beneficiaries. Last year, 10 million ACs were manufactured and sold in India and the number is expected to reach 14 million in 2024, according to industry estimates. Domestic production is expected to hit 30 million by 2030.
Siemens delivered a strong margin performance and also reported high other income to beat consensus in the January-March quarter (Q2) of FY24 (the company's year-end is September 30). In addition, it has opted to demerge the energy vertical with a 1:1 award of shares in the newly demerged entity which will be listed by the end of this year (CY25).
The Delhi Metro will operate at 50 per cent capacity and markets and malls in the national capital will open on an odd-even basis from June 7, Chief Minister Arvind Kejriwal said on Saturday as he announced further relaxations in lockdown.
When in Landour, discovers Supriya Newar, one of the most important things to do and that too in large measures, is to do nothing at all.
The poll authority noted that in the past these cities have "suffered" from urban apathy in voting.
Tech titan Google on Wednesday launched the Google Wallet app for Android users in India, allowing them to securely store essentials like boarding passes, loyalty cards, event tickets, and public transport passes. The digital wallet, which becomes operational in India from Wednesday, comes as a complementary service to existing payment app Google Pay, a top official said.
The development took place irrespective of the recent escalation in tension and war of words between India and Pakistan. The matter has been referred to the external affairs ministry which is learnt to be favourably disposed towards it. Once it gets South Block's go-ahead, DMRC will send a team of its officials to Karachi to prepare a detailed project report. DMRC Managing Director Elattuvalapil Sreedharan said this will include all aspects of the project.
Amid a growing chorus in the party for his elevation, Tamil Nadu sports minister and son of Chief Minister M K Stalin, Udhayanidhi, was elevated as the deputy CM on Saturday with additional responsibility, in a cabinet reshuffle that saw the return of V Senthil Balaji to the council of ministers two days after securing bail in a money laundering case.
Metro rail services may be allowed from September 1 when the 'Unlock 4' phase in the graded reopening from the coronavirus-induced lockdown begins, but schools and colleges will not reopen immediately, an official said.
Kathuria's wife Shima told PTI that her husband had no idea about the gate breaking apart due to his car, adding that his arrest has created a "state of panic" for the family.
This is despite a 10 per cent rise in the average weekday ridership.
A few students were detained after they staged a protest in Old Rajinder Nagar in New Delhi on Sunday, demanding action against those responsible for the deaths of three civil services aspirants at a coaching centre in the area, and compensation for their families.
'Just look at China: They have five or six major airlines and some smaller ones.'
The operations revealed evidence of price and volume manipulation of stocks through the use of platforms like YouTube and WhatsApp.
'The ruling does not automatically mean that your house can be taken away, but suppose it blocks an expressway or a highway or such essential development, then it can be taken away as long as there is a law to support that action.'
According to a recent survey, 67% of students polled intend to start their own business within 10 years of graduation.
Intermittent, widespread rains lashed Chennai and other regions of Tamil Nadu on Tuesday and the India meteorological department said the low pressure area over the Bay of Bengal has turned into a well-marked low pressure area and it is likely to become a depression.
The Bharatiya Janata Party and its allies on Tuesday welcomed the Union Budget and said it focussed on youth, farmers, women, and has 'substantial allocations' for Maharashtra, but the opposition slammed the annual financial statement, claiming it neglected the western state and only seeks to please the saffron outfit's partners in Bihar and Andhra Pradesh.
Modi also rolled out the first of the 500 metro coaches manufactured by Bharat Earth Movers in flat 75 days at it Bengaluru facility.
'You need to have enough funds to maintain the primacy of public transport and it should not suffer because of lack of funds.'
A bench of justices Arun Mishra and Deepak Gupta sought a status report with pictures on plantation, transplantation and felling of trees in Aarey colony area of Brihanmumbai Municipal Corporation.
After continuously bleeding subscribers for nearly two years, state-owned telecom services provider BSNL added 2.9 million users in July when its private-sector rivals raised tariffs by nearly 20 per cent. With BSNL keeping tariffs unchanged, many subscribers using entry-level plans shifted from Reliance Jio, Bharti Airtel, and Vodafone Idea (Vi), said analysts.
As order books gain from India's increased capital outlay, some large capital goods and engineering companies are together spending over Rs 11,500 crore in creating new facilities, data shows. Nine engineering and capital goods companies, where data was available, including Siemens, Larsen & Tourbo (L&T) and KEC International, have a combined capital expenditure (capex) of about Rs 11,500 crore or more. Others such as ABB India and Thermax Global are also adding capacities.
Raising slogans of 'Inquilab Zindabad' and 'Kejriwal Zindabad', Aam Aadmi Party workers and leaders reached the area's metro station in groups, with the party calling for a march to Prime Minister Narendra Modi's residence on Lok Kalyan Marg for a 'gherao'.
The real estate sector wants "high-impact" measures, like special schemes and tax breaks for developers, to revive the fortunes of the affordable housing segment in the country, multiple executives told Business Standard. This segment has been struggling since the Covid-19 outbreak, in contrast to larger and costlier homes which have been selling like hot cakes. The demand comes at a time when the government is taking suggestions from industry players before tabling the General Budget in the Parliament next month.
'A rigid or overly broad interpretation could lead to a chilling effect on investments and growth in sectors traditionally driven by private initiative.' 'Entrepreneurs may fear that their assets could be arbitrarily appropriated by the State under the guise of serving the 'common good' without sufficient legal safeguards.' 'The judgment thus supports a more nuanced view, one that balances individual property rights with public welfare objectives.'
Sreedharan said when the first section of the Delhi Metro was to be opened in 2002, he had taken a firm decision that no one would be given travel concession.
Twenty-two police personnel and a government official were also injured in an attack by an irate mob which prompted the firing by the law enforcers.
India's steel market is out of step with global trends. Global demand is weak with China at a huge supply surplus to its domestic demand, pushing down global steel prices. India's domestic demand for steel is strong, given the continuing infrastructure push and is likely to accelerate as urbanisation improves, and the auto sector continues to grow alongside the infrastructure push.
Calling malls, cinema halls, weekly markets, metro services and religious places "superspreader" areas, the Delhi government has directed all district magistrates to greatly intensify enforcement of COVID-19 norms in such places in view of a persistent rise in cases in the city.
All borders of the national capital will be sealed for the entry of commercial and heavy vehicles by Thursday midnight apart from heavy police deployment, they said.
Delhi Chief Minister Arvind Kejriwal has issued directions from the Enforcement Directorate custody to ensure that medicines and tests are available to people at all government hospitals and Mohalla Clinics, Health Minister Saurabh Bharadwaj said on Tuesday.
Braving the downpour, Mumbaikars came together on Sunday to protest against the cutting of over 2,700 trees in Aarey milk Colony for the upcoming metro shed project.
Several persons fainted and emergency workers carried them in stretches and provided care in shelters. Over 30 people were rushed to nearby government hospitals with symptoms of dehydration.
The move comes ahead of the assembly elections scheduled early next year.
A spectacular aerial display showcasing the prowess and manoeuvrability of the Indian Air Force (IAF) aircraft over the iconic Marina sky captivated the hearts of Chennaiites who turned up in thousands on a sultry Sunday and witnessed the IAF's range of new aircraft including Rafale, roar in action.
He will succeed incumbent Rajiv Gauba, who completes his unprecedented five-year term in the top bureaucratic post this month-end.
A severe storm in Houston, the fourth-largest city in the US, has killed at least four people and left over 800,000 homes and businesses without power.
With digital adoption fast gaining currency, India is likely to see retail digital payments double to $7 trillion by 2030 from current levels, a study by Kearney and Amazon Pay said. In the report 'How Urban India Pays', Kearney-Amazon Pay said strong adoption of digital payments in online purchases has potentially led to a permanent shift in consumer behaviours, fuelling offline adoption as well.
Single-screen cinema halls are likely to be allowed with strict social distancing norms.
