Billionaire Gautam Adani's son Karan will helm the cement firms his group has acquired to become India's second largest cement player and extend his burgeoning empire that spans from ports and energy to airports and telecom.
The US department of energy has signed a memorandum of understanding with GE Energy, Siemens Power Generation, Vestas Wind Systems, Clipper Turbine Works, Suzlon Energy and Gamesa Corporation to improve industrial wind power manufacturing capabilities, said a DoE release. US is the fastest growing wind energy market in the world with 30 per cent annual growth in the last five years and with over 25 per cent of the global installed capacity.
Micromax to raise up to $1 bn from global investors.
FY22 will be the year to rebuild with the IMF projecting output growth at 11.5 per cent, economic survey at 11.0 per cent and the RBI's Monetary Policy Committee at 10.5 per cent.
Clawing the economy back to an 8 per cent growth path will require bringing savings and investment rates closer to 35 per cent on a sustained basis, which were 30.2 and 29.6 per cent, respectively, in FY22, according to a report. As per India Ratings, a large part of investments will have to be in infrastructure, which can help revive private investments by easing supply constraints and offset the weakening of external demand due to global headwinds. Higher investments will have to be accompanied by higher domestic savings to keep the savings-investments gap under check.
As the euphoria around US President Barack Obama's visit ebbs, the fine print of the investment announcements reveal a financial boost for American solar energy companies to increase their exports to India.
The Defence Ministry on Tuesday approved the procurement of arms and military equipment worth Rs 7,965-crore, including 12 light utility helicopters from Hindustan Aeronautics Limited, according to an official statement.
Chief Judicial Magistrate MJ Khan sent Patel in the custody of the special investigation team formed by the state government to probe the case till February 8.
Brushing aside concerns raised by proxy advisory firm IiAS on Suzuki's investment in the EV project, Maruti Suzuki chairman RC Bhargava on Thursday asserted that there was nothing in it against the interest of the company and its shareholders as it is part of an earlier arrangement. Countering the criticism from the proxy advisory firm, Bhargava noted that all models produced at Suzuki Motor Gujarat (SMG), including EVs, would be ultimately sold by Maruti Suzuki India (MSI) in the marketplace. IiAS has raised serious questions regarding the decision of the Suzuki Motor Corporation (SMC) to invest directly in the EV project instead of MSI doing it.
The charge-sheet, which runs into more than 1,200 pages, was filed in the Morbi sessions court by Deputy Superintendent of Police P S Zala, who is the investigating officer of the case.
Ford, which had announced to quit the Indian market last year, said it was exploring the possibility of using one of its plants in India to produce electric cars for exports.
The fire broke out around 12 am at Biomax Fuels Limited, a bio-diesel manufacturing unit in the Visakhapatnam Special Economic Zone, Duvvada area.
The civic body submitted the affidavit before a division bench of Chief Justice Aravind Kumar and Justice Ashutosh Shastri which is hearing a suo motu (on its own) case on the collapse of the bridge.
The Bengal outcome can have a marginal impact on national politics. Whereas elections in UP next year might still change the course ahead of the parliamentary poll in 2024, observes Virendra Kapoor.
Several states and UTs including Delhi, Maharashtra, Karnataka and Telangana have decided to opt for global tenders for procurement of anti-coronavirus shots with the domestic supply falling short to meet the rising demand.
Ola's factory will create 10,000 jobs and serve as the company's global manufacturing hub for India and international markets.
With the COVID-19 positivity rate touching 0.55 percent, the Delhi government has decided to re-impose night curfew from Monday, according to sources.
The Apple iPhone comprises 44 per cent of the global smartphone market's revenues and it is the second most-such device to be shipped after Samsung. More than half of smartphones used in the US are iPhones. More than 7 million iPhones are expected to be sold in India in 2022, extending the user base to 20 million, according to market research and analyst firm Techarc. Hence, the news about Apple scaling down its production target for iPhone 14 in India has made news.
Stating that open markets mean more opportunities, Modi said during the last six years the government has made many efforts to make the Indian economy more open and reform oriented.
Hemant Shivsaran lists the number of projects the Modi government has announced since August to woo Gujarat voters.
India's plan to produce ethanol from second-generation (2G) sources -- mainly farm waste -- is taking time to materialise even as the government is set to dedicate to the nation on Wednesday a Rs 900-crore plant set up by Indian Oil Corporation (IOC) in Panipat. Though state-run oil companies had decided to set up at least 12 plants in 2016-17 with an investment of around Rs 10,000 crore, this will be the first unit coming on track while others are stuck in various stages owing to issues like capital expenditure, lack of feedstock, and high rates of finished products compared to traditional ethanol units. According to industry sources, three more second-generation plants are coming up.
The question is: Will the company have a strong balance sheet to support this massive investment plan?
'The classic thing we need as a country is the virtuous cycle where you have robust demand which leads to more capital spending which in turn leads to more job creation and more money in the hands of people.'
Since January this year, Indian exporters have begun to dread the shipping news. That's because most of it would be about another lot of shipping companies deciding to avoid Indian ports on account of delays.
The company is planning to invest Rs 1,100 crore in the new mobile phone manufacturing facility.
As a tech services company, Ola has never been in hardcore manufacturing. And unlike in ride hailing, which is a two-player market (Uber is the only other competitor), in two-wheelers it faces many entrenched players. But most of all, rivals say Ola's targets are out of sync with most, even ambitious, projections.
'The August phenomenon of decline in sales occurs every year.' 'What they have done cleverly is, using the economic slowdown as an excuse, they want a package from the government to compensate the expenditure they will incur while converting BS4 to BS6.' 'That's why they are making a hue and cry.'
Sixteen aircraft will be delivered in a flyaway condition by the Airbus Defence and Space of Spain within 48 months of signing the contract while the remaining 40 planes will be manufactured in India, according to the defence ministry.
Global chip maker Intel on Monday said it could take a couple of years to address the supply shortage in the semiconductor ecosystem that is witnessing huge demand for tech products, accelerated by the COVID pandemic. Intel CEO Pat Gelsinger noted that the work and study-from-home trends during the COVID-19 pandemic have led to a "cycle of explosive growth in semiconductors" that has placed huge strain on global supply chains around the world. "We have been working diligently with our partners... to address constraints and increase output to meet demand, and we are acting to help ensure capacity to meet the world's needs for this new era... But, while the industry has taken steps to address near-term constraints, it could still take a couple of years for the ecosystem to address shortages of foundry capacity, substrates and components," he said at a virtual session at the Computex event.
''None of the existing vaccines have 100% efficacy.' 'Each vaccine will work openly on a certain percentage of the population.'
Havmor makes 150 products from its two plants and has around 30,000 dealers
The Union Cabinet on Wednesday approved a Rs 26,058 crore production linked incentive (PLI) scheme for auto, auto-components and drone industry to enhance India's manufacturing capabilities, Union Minister Anurag Thakur said on Wednesday. The PLI scheme will incentivize the emergence of advanced automotive technologies' global supply chain in India.
'If we are to be a contributor to the economy, we have to reduce carbon and imports.' 'We will achieve both -- that's our target.'
The industry is expecting double-digit growth on a year-on-year basis, helped by a possible price correction after softening of raw material inputs and factors such as positive sentiments, pent up demand and improving economic conditions. Besides, a shift in consumer behaviour from price consciousness towards technologically advanced premium products with quality, value proposition and safety aspects leading to a rise in demand for home automation products is making the industry upbeat. With the government's production linked incentive (PLI) scheme for white goods, which has witnessed a committed investment of Rs 4,614 crore, in place, many manufacturers are gearing up to make the most out of the opportunity as well as take steps towards reducing their dependency on imports and make products more affordable.
TAL Manufacturing Solutions expects its indigenously made affordable industrial robot, the Brabo, to boost the robotics vertical and contribute almost 40 per cent of its overall revenues in the next five years. Sohini Das reports.
'India has the potential to reduce its trade deficit with China by $8.4 billion in FY21.'
The government on Thursday allowed free inter-state wheeling of renewable energy used in the production of green hydrogen and ammonia as it seeks to boost usage of the carbon-free fuel and make India an export hub. Unveiling the first part of the much-awaited National Hydrogen Policy, Power and New and Renewable Energy Minister Raj Kumar Singh said the government is targeting production of 5 million tonnes of green hydrogen by 2030. Oil refineries to steel plants require hydrogen to produce finished products.
The third-quarter financials didn't excite market watchers. But equity investors can still make money if they invest in the right stocks.
These vaccines are Sputnik V vaccine (in collaboration with Dr Reddy's), Johnson & Johnson vaccine (in collaboration with Biological E), Novavax vaccine (in collaboration with Serum India), Zydus Cadila's vaccine, and Bharat Biotech's Intranasal Vaccine.
Enter the fireworks city of Sivakasi in Tamil Nadu and you can smell a familiar mix of sulphur, potassium nitrate, aluminium and carbon - familiar because if you've ever burst crackers, say on Diwali or Onam, chances are they were made here. Almost every household used to contribute to India's festive joy by contributing almost 90 per cent of the fireworks made in the country. Before the pandemic, around 300,000 people worked in the industry directly and another 500,000 indirectly. Located 540 kilometres from Chennai, Sivakasi is famous for its fireworks and crackers, along with printing and matches, but is almost a ghost town these days.
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