The Supreme Court's landmark decision to allow reopening of Category-A and Category-B mines in Karnataka has come as a big relief to the mining sector and the ore-starved steel industries in the state.
Fada estimates that global supply chain headwinds like scarce availability of rare earth elements for electric vehicle components and geopolitical tensions may affect urban consumer sentiment in June as well.
India's industrial production growth slowed marginally to 4.9 per cent month-on-month in March 2024, mainly due to poor show by the mining sector, according to official data released on Friday. The factory output growth, measured in terms of the Index of Industrial Production (IIP), was 5.6 per cent in February 2024. However, it was 1.9 per cent in March 2023.
The 17 rare earth elements that are at the centre of the current crisis are critical components of everyday products -- from cars to jet engines to electronics like smartphones and flat-screen TVs.
India's industrial production growth slows to 3.2 per cent in December 2024, mainly due to poor performance of mining and manufacturing sectors, according to official data released on Wednesday. The government has also revised the November 2024 IIP figure to 5 per cent from the provisional estimate of 5.2 per cent released in the previous month.
The IIP rate had dipped by 0.4 per cent in November, for the first time since the new series for the IIP was introduced in financial year 1993-94, mainly due to poor performance of manufacturing, which has nearly 80 per cent weight in the index.
A new law has been put together to actually take control of the mining sector away from the government, specially the Union government, and make regulation by an independent authority the basis of mineral development in India.
India on Tuesday opened its largest oil and gas bid round, offering 25 blocks covering 1.91 lakh square kilometers mostly in offshore area, as the government looks to boost domestic production to cut imports and help energy security. Petroleum Minister Hardeep Singh Puri launched the 10th bid round under the Open Acreage Licensing Policy (OALP) at the India Energy Week (IEW) in Mumbai.
Pakistani troops violated the ceasefire along the Line of Control (LoC) in Poonch district of Jammu and Kashmir, prompting a strong response from the Indian Army. The incident, which occurred in the Krishna Ghati sector, comes a day after two Indian Army personnel were killed in an IED blast near the LoC. The ceasefire violation is the fourth cross-border incident in five days and the first this year.
Two Indian Army personnel, including a captain, were killed and another was injured when suspected terrorists set off an improvised explosive device (IED) near the Line of Control (LoC) in the Akhnoor sector of Jammu on Tuesday. This was the third incident of cross-border action by terrorists in the Jammu region in four days, highlighting the ongoing security challenges in the area. The blast occurred while the troops were on patrolling duty near a forward post, underscoring the risks faced by security personnel in the region. Following the incident, the Army launched search operations in the area and expressed condolences for the loss of its personnel.
India's industrial production growth accelerated to a four-month high of 5.7 per cent in February 2024, mainly due to the good performance of the mining sector, according to official data released on Friday. The factory output growth measured in terms of the Index of Industrial Production (IIP) was 6 per cent in February 2023. The previous high of IIP was recorded at 11.9 per cent in October 2023, which slowed to 2.5 per cent in November, 4.2 per cent in December and 4.1 per cent in January 2024.
Industrial output grew by 7.1 per cent in April on better performance by power and mining sectors, as per government data released on Friday. Manufacturing sector recorded a growth of 6.3 per cent in the first month of the current financial year, as per the data released by the National Statistical Office (NSO). It further said growth rates over corresponding period of the previous year are to be interpreted considering the unusual circumstances on account of the COVID-19 pandemic since March 2020.
Coal production by Coal India (CIL) has grown slower than the captive mines, awarded over the last six years. During 2020-22, production from the captive mines jumped by 38.5 per cent while CIL saw a tepid growth of 3.4 per cent, according to government data. In terms of dispatch to the power sector, captive mines have raced ahead, witnessing a growth of 72 per cent compared to 15 per cent for CIL. For the current fiscal year, CIL's production is expected to be around 565 million tonnes.
Roads, railways, and coal together are likely to account for 70 per cent of the government's takings from the upcoming second edition of the National Monetisation Pipeline (NMP), set to run from FY26 to FY30. In comparison, these three sectors are estimated to have contributed 66 per cent in the first edition of the NMP - FY22 to FY25.
Indian students at Harvard, on condition of anonymity, shared their concerns and experiences of the last few months during which the prestigious university has seen relentless attacks by the Trump administration.
'It can position itself as a China Plus One solution, fulfilling the demands of developed economies.'
On India, the chart showed that the country charged 52 per cent tariffs on the US "including currency manipulation and trade barriers," and America will now charge India "discounted reciprocal tariffs" of 26 per cent.
The government has so far approved 73 foreign direct investment proposals worth Rs 4,044 crore for the mining sector.
Tata Steel has built an iron ore chest of nearly 600 million tonnes (mt) and will look for more as it prepares for life beyond 2030 when its legacy captive mines come up for auction. The lease for four of its existing iron ore mines -- Joda East, Noamundi, Katamati, and Khondbond -- that feed the domestic operation with low-cost iron ore is going to expire in 2030, following changes in mining regulations. The year will also coincide with Tata Steel's ambitious target of doubling steelmaking capacity in India to 40 mt, increasing the need for iron ore. The company is pushing the pedal to ensure that it has enough resources to meet enhanced needs.
If gratuity is not paid within 30 days of termination, the employer must pay interest as set by the central government.
The previous low at 1.8 per cent was recorded in October 2017.
'The size of the investments is important, but equally crucial is the number of jobs that these proposals create.'
Farm, manufacturing and mining sectors pulled down India's growth.
The major advantages of such plants are no need of land to build the reactors, earthquake resistant, abundance of water for active or passive cooling.
Chinese manufacturing prowess and its dominance in the strategic sector will have a bearing on India's growth projection in the medium term and its march to become a developed nation by 2047, the Economic Survey said on Friday. The Survey has said India needs to grow at 8 per cent for about two decades to become a developed nation by 2047, but it will have to face challenges from global developments and reliance on Chinese imports.
Domestic rating agency Icra on Wednesday said India's real GDP growth for the September quarter is likely to decline to 6.5 per cent due to heavy rains and weaker corporate performance. The agency, however, maintained its FY25 growth estimate at 7 per cent on expectations of a pick up in economic activity in the second half of the fiscal.
The Income Tax department is taking a hit of up to Rs 3,000 crore in tax collection following a Supreme Court-enforced ban on mining activity in Karnataka and Goa, a key IT department official said.
In June last year, India unveiled its first list of 29 critical minerals open for private sector exploration and mining. Since then, 38 critical mineral blocks have been auctioned, but only 14 - less than 37 per cent - have found bidders. This modest achievement was secured only after the Centre conducted a second round of auctions when the first round fell flat, failing to attract the minimum required bidders.
The output has seen a decline due to the ban in Karnataka and Goa.
The Ministry of Mines has directed the Geological Survey of India (GSI) to conduct a re-exploration of the 5.9 million tonnes of lithium block in Jammu and Kashmir's (J&K's) Reasi district after repeated setbacks to put the reserve up for auction again in six months.
India's industrial production (IIP) growth slowed to 3.5 per cent year-on-year in October 2024, mainly due to poor performance of mining, power and manufacturing, as per official data released on Thursday. The IIP recorded a growth of 11.9 per cent in October 2023, according to a statement by the Ministry of Statistics & Programme Implementation.
Official sources said Modi also congratulated Trump on the performance of his Republican Party in the US Congressional elections, as both leaders affirmed that they would work together for world peace.
The finance minister, in her Budget speech, should focus more on what she is directly responsible for, rather than on programmes where her role is largely supportive, notes Nitin Desai.
India's industrial production expanded by 3.1 per cent in September, mainly due to improvement in the manufacturing sector, according to official data released on Tuesday. The factory output, measured in terms of the Index of Industrial Production (IIP), witnessed a growth of 6.4 per cent in September 2023.
AI-driven and deepfake-enabled cyberattacks are anticipated to become increasingly prevalent in 2025 with sectors like healthcare and finance most prone targets, according to a recent report. The India Cyber Threat Report 2025 by the Data Security Council of India (DSCI) and Seqrite, spotlighted the evolving tactics of cybercriminals and the rise of AI-driven attacks as a major concern. "Artificial Intelligence (AI) will be used to develop highly sophisticated phishing campaigns utilising deepfake technology and personalised attack vectors, making them harder to detect.
As per the first advance estimates of national income released by the National Statistical Office (NSO) on Friday, the manufacturing sector output is estimated to grow to 6.5 per cent in the current fiscal compared to 1.3 per cent in 2022-23. Similarly, mining sector growth is estimated at 8.1 per cent in the current fiscal against 4.1 per cent in 2022-23.
India's industrial production growth decelerated to 5.8 per cent in September from 10.3 per cent in August, though on an annual basis, the output of manufacturing and mining sectors showed an improvement, according to the official data released on Friday. The factory output growth measured in terms of the Index of Industrial Production (IIP) had grown by 3.3 per cent in September 2022. During April-September 2023-24, the IIP growth works out to be 6 per cent, down from 7.1 per cent in the corresponding period a year ago.
Indian family-run business houses have in recent years seen ugly public spats between owners over control. But metals-to-ports conglomerate Essar's Ruia family seems to be an exception. Three generations of the Ruia family - founder brother Shashi and Ravi Ruia, their children and grandchildren - continue to live under one roof and jointly run the business empire.
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'Mining jobs get created in the most backward districts of India's poorest states,' says Anil Agarwal.
India's industrial production slipped to an 18-month low, contracting by 0.8 per cent in August, mainly due to a decline in output of the manufacturing and mining sectors, according to official data released on Wednesday. The data showed that the previous low in industrial output growth was a contraction of 3.2 per cent in February 2021. Factory output, measured in terms of the Index of Industrial Production (IIP), had expanded by 13 per cent in August 2021. The IIP grew by 2.2 per cent in July this year.
