Mumbai-based Clarity Gold Pvt Ltd on Monday said it had joined hands with Switzerland-based global mint company, Faude and Huguenin, to set up a 300-metric tonne gold minting plant in Jaipur with an investment of Rs 40 crore (Rs 400 million).
Roughly 40% of this projected outlay is expected to go towards emerging industries, including green hydrogen, clean energy, semiconductors, and electric vehicles.
The government has revised its divestment target downwards from Rs 2.1 trillion, as its ambitious privatisation programme has been deferred to next year.
India has secured approval of the United States Department of Agriculture (USDA) for the export of domestic mangoes to America in the new season, the commerce ministry said on Tuesday. The export of Indian mangoes has been restricted by the US since 2020 as the USDA inspectors were unable to visit India for inspection of irradiation facilities due to restrictions imposed on international travel because of the COVID-19 pandemic. On November 23, 2021, the Department of Agriculture and Farmers Welfare and the USDA signed a framework agreement for implementing the "2 Vs 2" agri-market access issues.
The finance ministry on Tuesday cited "green shoots" of recovery in agriculture, manufacturing and services sectors, and said the prompt policy measures taken by the government and RBI have helped reinvigorate the economy with minimal damage. Stating that the agricultural sector remains the foundation of the Indian economy, the ministry said that a normal monsoon, as has been forecast, should support the rebooting of economy.
The U'khand CM appealed to people to not make the tragedy an occasion for building an "anti-development narrative"
Street believes premium valuations justified, as port traffic is expected to grow at a CAGR of 16% over FY14-16.
MV Ganga Vilas will begin its journey from Varanasi and sail around 3,200 km in 51 days to reach Dibrugarh in Assam via Bangladesh, traversing across 27 river systems in the two countries, it said.
Ambuja Cements' announcement that it would acquire Hyderabad-based Penna Cement Industries could be the Adani Group company's first step for wider inorganic expansion, according to analysts.
On February 24, when Vladimir Putin announced a military operation on Ukraine, few would have thought that Indian government-owned GAIL India would feel the impact. The tensions over gas supplies were essentially a Europe-Russia problem, related to the sanctions western economies imposed on Moscow. But the EU depends on Russian imports for 40 per cent of its gas stocks, an over-dependence that Russia has underlined with Kremlin-owned Gazprom cutting its supplies through the Nord Stream 1 pipeline to 20 per cent, citing maintenance issues.
Sri Lankan government on Monday admitted that it has run out of cash to buy fuel as pumps in most filling stations across the country have run dry, exacerbating the deepening foreign-exchange crisis that has crippled the island nation's economy.
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.
There has been no change in Tata Steel's strategy on operations in the United Kingdom (UK), company chairman N Chandrasekaran has told shareholders. The statement comes amid growing concern about the restructuring plan in the face of change in government in the UK. Tata Steel's plan for the UK entailed a 1.25 billion investment plan agreed upon by the Conservative party-led government in September last year.
Majority of PLL's long-term deals are linked to crude, which faces price challenge from other fuels. Spot LNG is moving away from this linkage, which puts a question mark on crude linked contracts.
The Indian economy is rapidly normalising towards pre-pandemic activity levels, even as uncertainty exists about coronavirus mutations and repeated infection waves, industrialist Kumar Mangalam Birla said on Wednesday. Vaccination is picking up pace, which would improve India's resilience against a potential third wave, the chairman of Aditya Birla Group said while virtually addressing shareholders at the AGM of group firm UltraTech Cement Ltd. Moreover, various steps taken by the RBI and the government have helped in containing the economic disruptions of the pandemic, Birla added.
The work order for Prime Minister Narendra Modi's pet project 'Statue of Unity' - the world's tallest statue of India's first home minister Sardar Vallabhbhai Patel, was issued by the Gujarat government on Monday, to leading engineering company Larsen and Toubro (L&T).
Old timers in Oil and Natural Gas Corporation (ONGC) still remember how in early 2000 its overseas subsidiary, ONGC Videsh Ltd (OVL), was on the verge of closure. Though OVL was set up in 1965, the only discovery the company had made till then was in Vietnam offshore, with more investment needed to monetise it. In 2001, when OVL started looking for new blocks abroad, the company's previous acquisition was 13 years old.
Sena also said that laying a brick for the $44 billion (Rs 3 lakh crore) mega refinery project at Nanar in Ratnagiri district of Maharashtra would be akin to laying the foundation stone for a cancer hospital there.
India has sent a team to Kabul to oversee the delivery of India's humanitarian assistance to Afghanistan and hold discussions with the Taliban over the aid provided by New Delhi.
As of now, tankers carry petroleum products from India to Nepal as part of an arrangement which is in place since 1973.
The Budget emphasises on capacity building and empowerment of marginalised sections of society including farmers.
'The Modi government's lack of foresight has compelled India to become an importer of vaccines today and even now, their "vaccine strategy is flawed and discriminatory'
Prime Minister Narendra Modi on Thursday thanked Qatari Emir Sheikh Tamim bin Hamad Al-Thani for the release of eight Indian nationals, who were sentenced to death after being arrested in Doha in August 2022.
'We want to make sustainability affordable.' 'We tell everyone, don't just recycle, Craste it!'
Without strong storage facilities, bumper harvest has resulted in price crash
'The credibility of the messenger here is highly suspect. This is something which the global community is aware of'
Unveiling his infrastructure conglomerate's green vision, billionaire Gautam Adani on Tuesday said his group will invest $20 billion over the next 10 years in renewable energy generation and component manufacturing and will produce the world's cheapest green electron. The port-to-energy conglomerate plans to triple its renewable power generation capacity over the next four years, foray into green hydrogen production, power all data centres with renewable energy, turn its ports into net carbon zero by 2025, and plans to spend over 75 per cent of capital expenditure until 2025 in green technologies, he said. Speaking at JP Morgan India Investor Summit, Adani Group chairman said the USD 20 billion investment will be in renewable energy generation, component manufacturing, transmission and distribution.
The March quarter (Q4) of the ongoing financial year (FY23) may see cement companies report better financial numbers as input costs ease, pricing action resumes, and cement demand remains firm. While companies have been cautiously optimistic about their outlook, analysts and sector experts remain bullish. In its latest report on the cement sector, brokerage IDBI Capital said that it expected earnings before interest, tax, depreciation, and amortisation (Ebitda) per tonne for cement companies to improve by Rs 200-300 sequentially in Q4.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
Grand plan: 10% GDP growth; 175 million jobs; $10-trillion economy
Like China, India too should connect the dots and move ahead with a long-term perspective in Afghanistan, advises Ambassador M K Bhadrakumar.
A company official said work stopped temporarily only at two rigs and the remaining 34 in the offshore were operational. He added there was no impact on the company's production.
A look at what the IPL teams and players are doing to support the people of India in this massive battle against the deadly coronavirus.
Prime Minister Narendra Modi returned to the Capital early Saturday morning after a three-nation tour of France, Germany and Canada.
According to industry experts, the consumption of petroleum products in the month of April was only 30-40 per cent of what it had been prior to the lockdown. Due to this, refineries were forced to bring down their capacity too.
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.
With Maaza, which already has the biggest share in mango beverages in the Indian market, Coke is betting on a winning horse, say experts.
The government's predicament is a result of its own doing: That of not ensuring adequate buy-in by the stakeholders before passage of the laws, notes Vivek Gumaste.
Beyond the barbed wire and watchtowers, though, lies a story that casts more than a little doubt on whether this dream will ever be realised. Praveen Swami reports.
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