Saudis are interested in expanding their relationship with India, given it is becoming the main driver of crude demand growth in Asia
Investors cheered a sharp decline in the Current Account Deficit, which stands at a 4 year low as exports picked up and gold imports reduced.
Building 6 conventional submarines is one of the Indian Navy's most important weapon construction programmes.
The government freed diesel pricing last October, providing a level playing field to private companies like Reliance and Essar Oil.
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a 22.5 per cent rise in net profit for the quarter ended March on the back of bumper oil refining margins, steady growth in telecom and digital services and strong momentum in the retail business. The oil-to-retail-to-telecom conglomerate's consolidated net profit rose to Rs 16,203 crore in the quarter ended March 31, 2022 from Rs 13,227 crore, the firm said in a statement. Net profit, however, fell 12.6 per cent sequentially -- breaking a six-quarter chain of quarter-on-quarter improvement.
Prime Minister Narendra Modi began his engagements in the US on Thursday by meeting with leading American CEOs from five different key sectors and highlighted the economic opportunities in India.
A consortium led by Ajay Singh is initially expected to invest Rs 1,200 cr, largely to cover liabilities.
Reliance Industries Ltd's focus on the next hypergrowth opportunities in clean tech and its path to decarbonisation has the potential to spur re-rating, raises clarity on investment cycles and reduces investor worry, brokerages said. RIL chairman Mukesh Ambani at the company's 'Green AGM' on Thursday committed Rs 75,000 crore over the next three years to set up an integrated Green Energy Giga Complex across 5,000 acres in Jamnagar, Gujarat which will contain four giga factories. The complex, which would be one of the world's largest renewable manufacturing facilities, would have an integrated solar photovoltaic module factory, an energy storage battery factory, electrolyser manufacturing for hydrogen production, and manufacturing of fuel cells so that hydrogen can be used in transportation.
After a very weak December quarter and a poor year-to-date fiscal year volumes-when sales plunged to the lowest in nine years, the signs in the first 15 days of January haven't been encouraging either. "Though the severity of the current wave is not as high as the previous one, it has hit the sentiments hard impacting conversion of enquiries into sales," said Vinkesh Gulati, president, Federation of Automobile Dealers Association (FADA).
Demonetisation was not a good idea and the time should have been utilised instead to fine-tune the Goods and Services Tax before it was introduced, said Gita Gopinath, John Zwaanstra Professor of International Studies and of Economics at Harvard University, in an interview with Advait Rao Palepu.
Experts say with a stable government, things will start improving but the impact might be visible only after six-12 months.
It takes a while to get used to the constant and instant supply of power that is the case with EVs, and handling the S1 Pro when it takes a corner or makes a turn can be tricky, says Pavan Lall.
'The big power struggle in faraway Europe erupted at a most critical juncture when India has been increasingly sceptical about American policies and statesmanship,' argues Ambassador M K Bhadrakumar.
Indian companies place orders worth $600 million for US crude, which is likely to increase by nearly $2 billion in the near future.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
Costlier vegetables slowly pushed retail inflation, which had remained well within the Reserve Bank's comfortable level of 4 per cent during most part of 2019, peaked to more than three-year high of 5.54 per cent in November.
Sri Lanka's new Finance Minister Ali Sabry on Tuesday resigned, a day after President Gotabaya Rajapaksa appointed him after sacking his brother Basil Rajapaksa amidst the island nation's worst economic crisis.
Toyota, M&M and Honda are making tough adjustments to their growth plans as uncertainty over diesel vehicles and fuel emission norms rises
Australia's Prime Minister Tony Abbott on Friday said he will sign an agreement with India to sell uranium for non-weapon use. "Prime Minister Modi and I will today sign a nuclear cooperation agreement that will finally allow Australian uranium to India," he said while addressing a meeting, organised by industry chambers including CII and Ficci.
Inflation pegs down currency value, re-allocates resources, reduces potential economic growth and leads to the attrition of gross domestic savings.
A swift recovery in oil demand in India is not only helping the stability of the global market, it is giving huge fiscal headroom to the government in terms of additional excise duty.
Even as the September quarter performance was subdued, analysts expect the second half to be better on higher prices, output.
Affected firms note practical problems in getting discoms, consumers to pay for costlier supply; viability shadow on investments
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