Gautam Adani had in the late 1970s applied to join a Mumbai college for education, but the college rejected his application. He did not pursue education but turned to business and went on to build a $220 billion empire. About four-and-a-half decades later, he gets called to the same college to deliver a lecture to students on Teachers Day. Adani had moved to Mumbai at the age of 16 and started working as a diamond sorter.
The BrahMos export order would be the biggest for the country in this field and is likely to propel India amongst arms exporting countries as more orders for the missile are expected from other friendly countries.
'Ratan had the quality that JRD and Russi Mody had -- they could walk with kings and never lose the common touch.'
WHO has urged people at risk to keep up with their vaccinations with boosters.
From toys, footwear and furniture to insulated flasks, smart meters, and air coolers - the Central government over the last decade has mandated higher standards for production and imports of such items. Sample this: Till 2014, there were 14 Quality Control Orders (QCOs) covering 106 products. By the latest count, there are 156 QCOs on 672 products.
Geopolitical headwinds leading to lower demand from export markets, coupled with lower domestic buying, have dragged the auction average of Darjeeling tea to its lowest level since 2015. Data from Calcutta Tea Traders Association (CTTA) shows that the average price of Darjeeling tea at Kolkata auctions for January-December 2023 was Rs 319.74 per kg. The last time it dipped below this level was in 2015 at Rs 285.71 per kg.
India's exports fell for the fourth straight month in June as shipments of key segments like petroleum and textiles declined but the country's trade turned surplus for the first time in 18 years as imports dropped by a steeper 47.59 per cent.
'Many countries believe that if they join BRICS, they will be seen as emerging countries and their stature will be enhanced.' 'G-20 still has common action plans while BRICS does not do that much.'
The defence ministry is shooting to achieve an annual export target of $5 billion by 2025.
Qatar Petroleum while confirming the withdrawal, tweeted, "Qatar announces it was withdrawing from the Organisation of Petroleum Exporting Countries effective 1 January 2019."
A combination of externalities such as global trade wars and slowing growth, continuing glitches in accessing offsets under the GST regime, which has created a liquidity crunch for smaller exporters, and the growing competitiveness of smaller countries are causing the slowdown.
'All imaginary figures are pushed by government bureaucrats.' 'They never showed that the production of wheat was less this time.'
Sectors with positive growth during the month include rice, iron ore, oil seeds, oil meals, meat, dairy and poultry products, pharmaceuticals, coffee, engineering goods, and plastic.
'Even if Serum Institute and Bharat Biotech were successful in ramping up production overnight, what happens to the capacity after the demand from India is met?' asks Sanjeev Nayyar.
'India is there to stay as it has always been a consumer.' 'Its consumption has been huge, mainly due to demographics.'
The prospects of India becoming a credible manufacturer of defence platforms or major weapon systems for export are remote, says Vice Admiral Premvir Das (retd).
Officials hint the visit could finally see a formal defence industrial road map being adopted by both nations.
'People are already sending congratulatory messages. But I have said, "Please don't until the trials are over".'
In the coming months, globally as well as in India, rice might remain a hot potato.
Canada-based passenger trains maker Bombardier is planning to develop India as the exports hub for its products and solutions to cater to Europe, South America and the Middle East markets.
Unlike Israeli company NSO, whose sale of Pegasus cyber tech grabbed worldwide attention, and other manufacturers of offensive-cyber products, Cellebrite operates in a grey area between security exports and civilian ones.
Severe skilled, unskilled shortage threatens to pull emergency brakes on India's industrial engine.
"The Centre has been encouraging the meat industry and the food processing ministry too provides aid of upto 50 per cent to support them. But the UP government has ordered a ban on all mechanised slaughter houses," a senior functionary of the All India Meat and Livestock Exporters Association said.
The Bangladeshi prime minister said that India's sudden decision to stop onion exports has led to a bit of difficulty for her countrymen.
The ED will probe if money earned from the illicit narcotics trade was laundered to create movable and immovable assets by the accused. The investigation will run parallel to the NCB probe, the sources said.
The oil industry experienced three upheavals between 1973 and 1991, which seem to be etched in the memory of the industry's decision makers. Naturally, at the sign of a new crisis, the decision makers like to dip into those tumultuous decades to find ways to deal with the new shock, in addition, of course, to expert reports and forecasts. So, the industry bigwigs turned the pages of history to get a peek into the future of oil price movements after Russia invaded Ukraine in 2022, Israel attacked Gaza in 2023, Iran-linked Houthi rebels pounded tankers crossing the Red Sea in support of Palestine the same year, and Iran rained missiles on Israel in 2024.
'2019 was fought on delivery. But in 2024, you can see the before and after effects.'
'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
Imports increased by 4.5 per cent, the highest growth in the last six months as crude oil and gold shipments shot up in the month.
Prime Minister Narendra Modi, who is in the United States for a three-day state visit, has gifted an eco-friendly lab-grown 7.5 carat diamond, placed in Kashmir's exquisite Papier mache box, to First Lady Jill Biden.
India is the UK's second-largest market by volumes for Scotch, importing the equivalent of 136 million bottles, worth £146.2 million, in 2021.
India is back on the diplomatic table pushing oil producing countries to raise production in a bid to cool down runaway oil prices. Brent crude oil prices traded above $90 a barrel, on Thursday, for the first time since 2014. Brent is the most popular marker for crude oil trade. It is used as a benchmark for two-thirds of the world's internationally traded crude oil.
In a major development, India and the US have agreed to end six trade disputes at the WTO through mutually agreed solutions, while New Delhi will remove retaliatory customs duties on certain American products such as almonds, walnuts, and apples.
Ban on US-EU import of meat & poultry products could, if we get active, allow us to access a $128-billion market.
A team of central agencies and the Uttar Pradesh drug department had carried out an inspection at the firm's office in Noida on December 29 and taken six more samples for testing.
The primary problem is that India's garment factories are too small and they typically have 150 people and about 80 machines.
India's import of cheap Russian oil scaled another record in May and is now more than the combined oil bought from Saudi Arabia, Iraq, UAE and the US, industry data showed. India took 1.96 million barrels a day from Russia in May, 15 per cent more than the previous high in April, according to data from energy cargo tracker Vortexa. Russia now makes up for nearly 42 per cent of all crude oil India imported in May.
Finance Minister Nirmala Sitharaman on Thursday said inflation management cannot be "singularly" left to the monetary policy as a majority of activities are outside its purview in the current context. Speaking at a seminar organised by economic think-tank Icrier, the finance minister said that both the fiscal policy and the monetary policy have to work together to contain inflation. Consumer price index (CPI) based inflation or retail inflation is ruling above the Reserve Bank's comfort level of 6 per cent since January.
'We will celebrate Independence Day as usual, but not this celebration from August 15 to 22 (as sought by the Modi government).'
A statement issued by the WHO on Saturday said the suspension is in response to the outcomes of its post EUL (emergency use authorisation) inspection held between March 14-22, 2022 and the need to conduct process and facility upgrade to address recently identified GMP (good manufacturing practice) deficiencies.
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