Billionaire Mukesh Ambani-led Reliance Industries Ltd's plans for investing Rs 75,000 crore in solar, batteries, fuel cells and hydrogen could create valuation of $36 billion (Rs 2.6 lakh crore) for the new energy business, Wall Street brokerage Bernstein Research said in a report. Reliance currently has three verticals -- oil-to-chemical (O2C) business that houses its oil refineries, petrochemical plants and fuel retailing business; digital services that comprises telecom arm Jio; and retail including e-commerce. New Energy will be the fourth vertical. At the company's annual general meeting of shareholders last month, Ambani announced a plan to invest Rs 75,000 crore in a new energy business over the next 3 years in the next stage in its transformation.
Modi is expected to travel to the US late September.
Piyush Goyal is leading a delegation to deliberate with Australia.
'Right time, right place, right business and I could see I was the right person. It was a now or never moment in a sense. If I didn't do it then, then when? There is little point in entering a business as an entrepreneur when someone else has proven the concept.' BJP leader Yashwant Sinha's son started ReNew Power during the UPA II government to focus on clean energy.
The Union Budget 2021-22 has made it easier for sovereign wealth funds and pension funds to invest in Indian infrastructure projects, but some of the new rules may need more clarity, experts said. The proposed regime requiring investments through holding companies may have adverse tax implications for such funds and may create an arbitrage between the new and old projects, they said. Besides, the ownership structure of holding companies through which investments are to be made requires further clarification, they added.
Merger of the three key ministries is expected to help in removing the hurdles in these areas.
Fitch Ratings has upgraded Reliance Industries Ltd's (RIL) rating to 'BBB', one notch above India's sovereign rating, as the company benefits from cash flow generation across diversified business segments and continuation of deleveraging. In a statement, Fitch said it has upgraded RIL's long-term foreign-currency issuer default rating (IDR) to 'BBB', from 'BBB-', with a negative outlook. At the same time, the agency has affirmed RIL's long-term local-currency IDR at 'BBB+' with a stable outlook.
"A Biden administration will be mostly positive for India," said Rick Rossow from the Centre for Strategic and International Studies think tank. "I expect most positive areas of cooperation -- notably defence -- to be maintained," he said.
Stating that recent agriculture reforms have opened new opportunities, the RBI Governor said the farm sector is emerging as a bright spot.
Organisers claimed that nearly 15,000 people participated in the march in the city which is hosting the crucial UN Climate Change Summit.
He further said Sidhu's resignation has been forwarded to Punjab Governor V P Singh Badnore.
India's largest oil firm IOC will build the nation's first 'green hydrogen' plant at its Mathura refinery, as it aims to prepare for a future catering to the growing demand for both oil and cleaner forms of energy. Indian Oil Corporation (IOC) has drawn a strategic growth path that aims to maintain focus on its core refining and fuel marketing businesses while making bigger inroads into petrochemicals, hydrogen and electric mobility over the next 10 years, its chairman Shrikant Madhav Vaidya said. The company will not set captive power plants at all its future refinery and petrochemical expansion projects and instead use the 250 MW of electricity it produces from renewable sources like solar power, he told PTI in an interview.
Indian-American engineer-entrepreneur Shrina Kurani challenges a 30-year Republican veteran in a US Congressional race in a district that is predominantly white.
Union Minister of New and Renewable Energy and president of the ruling National Conference Dr Farooq Abdullah filed his nomination papers from the prestigious Srinagar parliamentary constituency on Monday. The constituency goes to polls on April 30.
Coal India would open 60 new mines soon, the minister said.
Sidhu said there would be no need for Amarinder to go for power cuts or to regulate the office timings if the state acts "in the right direction".
India has voiced its strong opposition to China's Belt and Road Initiative and its flagship project -- the CPEC -- at the just concluded second UN Sustainable Transport Conference where the Indian diplomat's mike curiously went silent while she was highlighting New Delhi's objection to the controversial projects.
India ranks 130th out of 189 economies on the World Bank's Doing Business report.
Clickpower.in enables consumers and generators to explore the best available options.
Companies in India are expected to dole out an average increment of 7.3 per cent to employees this year amid faster-than-expected economic recovery and revival in business and consumer confidence, according to a survey. The first phase of the 2021 Workforce and Increment Trends Survey by Deloitte Touche Tohmatsu India LLP (DTTILLP) also said the average increment this year will be higher than 4.4 per cent seen in 2020 but lower than 8.6 per cent given by companies in 2019. As many as 92 per cent companies that participated in the survey plan to give an increment in 2021 compared to only 60 per cent last year.
There's a lesson to learn from her grit, can-do attitude and tireless pursuit.
In 2017, a consortium led by Russian state oil company Rosneft agreed to buy Essar Oil for $12.9 billion in India's biggest foreign acquisition of a homegrown company. Rosneft's buyout of Essar's assets was meant to herald a wave of energy investments in India - over six decades after Esso, Caltex and Shell invested in India's refining sector in the 1950s. But the government has tripped up in its efforts to sell Bharat Petroleum Corporation Ltd (BPCL), formerly Burmah Shell, a blue chip public sector company. Bidders include a couple of global funds and resources firm Vedanta.
India's most valuable company Reliance Industries was once fined for producing more than its licensed capacity, its owner and richest Indian Mukesh Ambani said on Monday as he pitched for a push to manufacturing to make the country 'Aatmanirbhar' or self-reliant.
India's power consumption grew 11.45 per cent to 55.37 billion units (BU) in the first half of October this year, mainly driven by buoyancy in industrial and commercial activities, as per government data.
Sidhu, who had been at loggerheads with Chief Minister Amarinder Singh, had stayed away from all Congress activities ever since he resigned as cabinet minister last year.
The Government of India has decided to launch a massive rural public works scheme, 'Garib Kalyan Rojgar Abhiyaan', to "empower and provide livelihood opportunities to the returnee migrant workers and rural citizens". Prime Minister Narendra Modi will launch this scheme on June 20 through video conference in the presence of Bihar Chief Minister Nitish Kumar and Deputy Chief Minister Sushil Kumar Modi.
The highest cap for the capacity would be 2 GW and can be set up in tranches at whatever location the project developer deems fit.
Asia's biggest solar power plant having the capacity to generate 130 mw was already functioning in MP's Neemuch district
The Centre plans to create a special window for strategically important investors such as sovereign wealth funds and pension funds that wish to invest over Rs 3,000 crore through a single transaction.
"Welcome to India, President @EmmanuelMacron! Your visit will add great strength to the strategic partnership between India and France. I look forward to our talks tomorrow," Modi tweeted after receiving Macron at the airport.
Modi has set a target of generating 100 Gw of solar power by 2022.
In his address to the nation on the eve of 73rd Republic Day, President Kovind noted that democracy, justice, liberty, equality and fraternity form the bedrock of India and stressed that the observance of Fundamental Duties mentioned in the Constitution creates the proper environment for the enjoyment of Fundamental Rights.
Rather than talking endlessly about lost and marginal opportunities, India's climate envoys need to start thinking bigger, says Mihir S Sharma.
'For equities, inflation trending upwards but within the range of expectations can actually be a big positive as it helps earnings and may shift flows from bonds to equities.'
Amid the political spat, the Ministry of Earth Sciences (MoES) lent its weight to the prime minister's suggestion, noting that the idea of using wind turbines in generating water from moisture in air and separating oxygen from air is technically feasible.
The Supreme Court order on what to do with the coal blocks allotted to power companies between 1993 and 2013, which it has already termed illegal, is likely on Tuesday.
The Solar Impulse 2, claimed to be the world's only solar-powered aircraft, took off from Oman on tuesday to head towards Ahmedabad.
14-year-old Vinisha Umashankar has been creating a buzz with her solar-powered ironing cart. The youngest finalist of the Duke of Cambridge's The Earthshot Prize 2021, she is a shining example of why one is never too young to help the environment.
Finance Minister Nirmala Sitharaman on Thursday reiterated that an international arbitration ruling on India's sovereign right to taxation sets the wrong precedent, but said the government is looking at how best it can sort out the issue arising out of New Delhi being ordered to return $1.2 billion plus interest and cost to UK's Cairn Energy Plc. The government, which participated in an international arbitration brought by the Scottish firm against being taxed retrospectively, has appealed against The Hague based tribunal's ruling asking the government to return the value of shares expropriated and liquidated, tax refunds withheld and dividend seized to recover a wrongly levied retroactive tax demand.
PlanCom makes presentation with secretaries of key ministries in tow.
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