Union Minister Hardeep Singh Puri on Friday asked automobile manufacturers to move from the prototype stage and start introducing green vehicles in the market, saying the time has come for biofuels and other clean energy technologies. In his address at a symposium here at the Auto Expo 2023, the Minister of Petroleum and Natural Gas [...]

A 12-kilometer long tunnel connected to the Tapovan Vishnugad hydroelectric project is 1 kilometers away from Joshimath town and at least a kilometer below the ground, state-owned NTPC has told the power ministry explaining its project has no role in the subsidence of the region. An apparent sinking of land is being blamed for cracks [...]

Strong connectivity is essential for building a developed India, Prime Minister Narendra Modi said on Friday while flagging off the world's longest river cruise 'MV Ganga Vilas' which will travel 3,200 km in 51 days to reach Dibrugarh via Bangladesh, sailing across 27 river systems. Modi via video conferencing also inaugurated a Tent City at [...]

The trade between India and China has touched an all-time high of USD 135.98 billion in 2022 while New Delhi's trade deficit with Beijing crossed for the first time a USD 100 billion mark despite frosty bilateral relations, according to data released by the Chinese customs on Friday. The total India-China trade for 2022 has [...]

The Centre and states are likely to budget for higher market borrowings to the tune of Rs 2.3 lakh crore next fiscal even though the Union budget may peg a lower-than-expected fiscal deficit for the Centre at 5.8 per cent of GDP, says a report. Icra Ratings anticipates higher redemptions will lead to gross market [...]

At a time when the world is faced with continued economic slowdown and social distress, the international community counts a lot on India's leadership of G-20, the Managing Director of the International Monetary Fund said Thursday. "India, which is the president of G-20 countries, remains among the countries that perform better than global average and [...]

Market benchmarks declined in early trade on Friday dragged down by index major Reliance Industries and IT counters along with continuous foreign fund outflows. The 30-share BSE Sensex declined 273.21 points to 59,684.82. The broader NSE Nifty slipped 69.75 points to 17,788.45. From the Sensex pack, HCL Technologies, Larsen & Toubro, Tech Mahindra, Reliance Industries, [...]

India's industrial production rose by 7.1 per cent in November 2022 after contracting in October, according to official data released on Thursday. The Index of Industrial Production (IIP) grew by 1 per cent in November 2021. As per the IIP data released by the National Statistical Office (NSO), the manufacturing sector's output grew by 6.1 [...]

Retail inflation declined to a one-year low of 5.72 per cent in December 2022, mainly due to softening prices of food items, according to official data released on Thursday. The Consumer Price Index (CPI) based retail inflation was at 5.88 per cent in November 2022 and 5.66 per cent in December 2021. As per the [...]

The current energy crisis is driving inflation, slowing economic growth and creating social turmoil, a new report said on Thursday while calling for new solutions that advance a sustainable and inclusive energy transition. The World Economic Forum (WEF) report, released days before its annual meeting in Davos, said the world is in the grip of [...]

The power sector has been supplied more coal than the committed quantity and all-possible measures are being taken to augment the production of dry fuel in the next season also, a top official said on Thursday. Speaking with reporters here, Coal Secretary Amrit Lal Meena said that the coal ministry has plans to supply more [...]

Food regulator FSSAI for the first time has come out with comprehensive standards for the identification of basmati rice as part of efforts to ensure fair trade practices and check adulteration. Basmati rice should have a natural fragrance characteristics of basmati rice and there should be no artificial colouring, polishing agents and artificial fragrances. These [...]

Capital markets regulator Sebi has slapped penalties totalling Rs 15 lakh on three entities and also barred them from the securities markets for one year for flouting insider trading rules with respect to the shares of Veeram Securities Ltd (VSL). The regulator has imposed a fine of Rs 5 lakh each on entities -- Rakshit [...]

The government's proposed policy to re-power old windmills can attract investments worth over Rs 40,000 crore, including the cost of acquiring and dismantling old plants, over the next three to five years, says a report. The wind power capacity has been stalling since 2018 when solar power took off at a faster pace and between [...]

India's imports of vegetable oils, comprising edible and non-edible oils, rose 28 per cent to 15.66 lakh tonnes in December, driven by higher shipments of refined palmolein and crude palm oil. In a statement, the Solvent Extractors' Association of India (SEA) said the import of vegetable oils during December 2022 stood at 15,66,129 tonnes compared [...]

Capital markets regulator Sebi on Thursday allowed stock exchanges to launch multiple contracts in the same commodity in a bid to encourage broader participation of investors in commodity derivatives market. This would come into force with immediate effect, the Securities and Exchange Board of India (Sebi) said in a circular. The move came after the [...]

India can become the number one automotive manufacturing hub in the world within five years, but auto companies need to enhance safety features to reduce deaths due to road accidents, Union Minister Nitin Gadkari said on Thursday. In his inaugural address at the Auto Expo 2023 here, the minister for road transport and highways asserted [...]

Gujarat's Bharatiya Janata Party government on Thursday announced a new policy which seeks to regularise unauthorised constructions inside industrial estates controlled by the Gujarat Industrial Development Corporation (GIDC). This new policy will cover nearly 70,000 industrial units currently functioning in 220 GIDC estates. Any unauthorised construction done by the owners of Micro, Small and Medium [...]

Benchmark stock indices Sensex and Nifty declined for a third straight day on Thursday as investors turned cautious ahead of release of key inflation and industrial production data. In a choppy trade, the 30-share BSE Sensex declined by 147.47 points or 0.25 per cent to settle at 59,958.03 as 15 of its constituents ended with [...]

The country's wheat production is likely to set a new record of more than 112 million tonnes in the 2022-23 crop year (July-June), according to official sources. Wheat production had declined to 106.84 million tonnes due to heat wave in key growing states in 2021-22 crop year, as per the agriculture ministry data. In 2020-21, [...]

The Uttar Pradesh Electricity Regulatory Commission (UPERC) has severely reprimanded two power distribution companies, Paschimanchal Vidyut Vitran Nigam Ltd (PVVNL) and Madhyanchal Vidyut Vitran Nigam Ltd (MVVNL) for poor progress of power meter conversion. The Commission feels that it is due to some 'nefarious interest or goblin mode' that the two discoms are not putting [...]

India will take up developmental issues of the Global South at the meetings of the G-20 countries emphasising that there should not be any first world or third world, but only one world having a common future. Addressing the ministerial session at the Global South Summit, she said India will use the G-20 Presidency to [...]

The government on Wednesday said 18,600 toys have been seized in the last one month from major retail stores, including those of Hamleys and Archies at airports and malls across the country, for lack of BIS quality mark. Meanwhile, consumer protection regulator CCPA has also issued notices to three major e-commerce players -- Amazon, Flipkart [...]

Increasing interest rate cycles and better returns from equity weigh down on mutual funds focussed on investing in fixed income securities in 2022, with the segment witnessing a net outflow of Rs 2.3 lakh crore, while a reversal of trend is expected in 2023 on anticipation of slowdown in the rate hike cycle. This was [...]

Union Minister Nitin Gadkari on Thursday said that Sri Lanka and Bangladesh have shown their keenness to import ethanol from India. The minister of road transport and highways said that he discussed about ethanol with the government of both the countries -- Sri Lanka and Bangladesh. "I was able to discuss this matter with PM [...]

The government is committed to growth of online gaming with new rules safeguarding digital citizens, but will not allow hijack of the proposed self-regulatory body, that will operate at arm's length from the industry and have equitable representation, IT Minister Rajeev Chandrasekhar has said. SRO or the self-regulatory body, proposed under the draft rules for [...]

All 7,000 electric buses under the FAME-II scheme are expected to ply in different cities of the country in the next one year, a senior official of the Heavy Industries ministry said on Thursday. Out of the 7,000 electric buses under the FAME-II scheme, over 3,000 e-buses are already operating in the country. In 2019, [...]

The India US Trade Policy Forum meeting has resulted in a smoother, friendlier and trusted environment for businesses to expand their trade and investment between the two countries, Union Commerce and Industry Minister Piyush Goyal said Wednesday. "Since we relaunched it (TPF) in a new form that renewed vigour in November 2021, we have seen [...]

The lawmakers from the US Staate of Washington have urged the Biden administration to help remove or reduce the tariffs on American apples imported to India as the country's fruit industry has incurred significant losses due to New Delhi's retaliatory measures. In a letter to US Trade Representative Katherine Tai and Commerce Secretary Gina Raimondo, [...]

The India-US Trade Policy Forum meeting that concluded here is an important step in the sustained effort to strengthen commercial ties between the two countries, a top American business body has said. The India-US Trade Policy Forum (TPF) meeting was held here on Wednesday. It was co-chaired by US Trade Representative Katherine Tai and Union [...]

India and the United States are developing a mechanism for the Indian fishermen to be able to export shrimps for the American consumers, Union Commerce and Industry Minister Piyush Goyal said Wednesday. "We had discussions for restarting the wild caught shrimp exports from India to the US," Goyal told reporters at a news conference here [...]

India discussed with the US the inordinate delays in issuance of business visas to the people from India, and there has been a good resonance of it by the Americans, visiting Union Commerce and Industry Minister Piyush Goyal said Wednesday. "We found very good resonance to our request that issuance of business visas which is [...]

The Modi government and the Biden administration are "thinking big" in terms of their trade and commerce relationship, a top Indian official said Wednesday as he ruled out the previously talked about mini trade deal or a free trade agreement and noted that revoking of GSP is not a priority for New Delhi. The previous [...]

The domestic equity benchmarks climbed in early trade on Thursday amid positive trends from the US markets. The 30-share BSE Sensex climbed 139.34 points to 60,244.84 in initial trade. The broader NSE Nifty advanced 39.35 points to 17,935.05. From the Sensex pack, HCL Technologies, Titan, UltraTech Cement, Larsen & Toubro, Mahindra & Mahindra, Bajaj Finserv, [...]

The country's gross direct tax collection rose 24.58 per cent to Rs 14.71 lakh crore till January 10 this fiscal, buoyed by an upsurge in personal income tax mop-up, the government data showed on Wednesday. After adjusting refunds, net direct tax collection stood at Rs 12.31 lakh crore, 19.55 per cent higher than the net [...]

All power engineers federation (AIPEF) on Wednesday said it will oppose any government's move in Uttar Pradesh to issue electricity distribution license to private companies in Noida and Greater Noida. In a statement, AIPEF Chairman Shailendra Dubey said, "Adani Power's company Adani Jewar Electrical Company Limited has recently applied to the Electricity Regulatory Commission of [...]

The government on Wednesday said it has sanctioned Rs 154.84 crore to National Mineral Exploration Trust for mineral exploration and boosting capabilities. The financial help to the exploration agencies will provide auctionable mineral blocks to the nation and will aid in realising self reliance in the mining sector. "The executive committee meeting of National Mineral [...]

The central government's integrated food security scheme has been named as the Pradhan Mantri Garib Kalyan Ann Yojana (PMGKAY), under which free foodgrains are being given to more than 80 crore poor people from January 1. The move also comes amid Opposition's criticism over the government discontinuing free monthly distribution of 5 kilograms of foodgrains [...]

Maharashtra has topped a list of states' rankings on economic, social and governance parameters. Gujarat and Tamil Nadu follow in the composite rankings for states, where Care Edge has also taken into account performance on infrastructure, financial inclusion, fiscal management and environment. On the governance front, Uttar Pradesh is ranked third, behind Andhra Pradesh and [...]

Ahead of the Budget, Medical Technology Association of India (MTaI) on Wednesday urged the government to reduce customs duties and removal of health cess on imported medical devices. MTaI, which represents medical technology companies, appreciated the various reforms undertaken by the government during the previous year, but said that more was needed to be done [...]

Hundreds of flights were grounded across the United States after a computer outage at the Federal Aviation Administration (FAA), US media reports said on Wednesday. The outage comes as a result of the failure of the FAA's NOTAM (Notice to Air Missions) system, which alerts pilots and other personnel about airborne issues and other delays [...]

The Federation of Telangana Chambers of Commerce and Industry (FTCCI) has come out with a skill centre here to support new-age manufacturing and service sectors. The ‘FTCCI Pokarna Skill Centre’ was formally inaugurated on Wednesday by Telangana Principal Secretary Industries and Commerce Jayesh Ranjan, College Education Commissioner Navin Mittal and CMD of Pokarna Ltd Gautam [...]

Finance Minister Nirmala Sitharaman and UK Chancellor of Exchequer Jeremy Hunt on Wednesday discussed bilateral investment and trade issues. The two leaders also discussed issues relating to the G-20, of which India has assumed the Presidency for the current year. "Union Finance Minister Smt. @nsitharaman and the Chancellor of the Exchequer United Kingdom, Mr @Jeremy_Hunt [...]

The Cabinet on Wednesday approved a Rs 2,600 crore scheme for promoting RuPay debit cards and low-value BHIM-UPI transactions. Under the scheme, banks would be provided financial incentives for promoting Point of Sale (PoS) and e-commerce transactions using RuPay and UPI in the current financial year. It would help in building a robust digital payment [...]

Funding for Indian startups dropped by 33 per cent to USD 24 billion in 2022 as compared to the previous year though it was nearly double the amount recorded in 2019 or 2020, said a PwC India report on Wednesday. Global investors were still positive about the Indian startup ecosystem despite the global slowdown, as [...]

The World Bank has forecast Pakistan's economic growth to slow further to two per cent during the current year — down by two percentage points from its June 2022 estimates — because of the devastating floods and slowdown in the global growth rate, a media report said on Wednesday. The World Bank’s Global Economic Prospects [...]

Commercial lending origination volumes declined by 4.3 per cent to 22.2 lakh loans in the COVID-affected FY22, a credit information company said on Wednesday. If one has to look at the originations by value, there was a 73 per cent jump to Rs 66.49 lakh crore, while the portfolio outstanding at the end of the [...]

The Arunachal Pradesh cabinet has finalised an action plan to unlock the state’s hydropower potential to strengthen the country’s energy sector, an official statement said on Wednesday. During the first cabinet meeting of the year, chaired by Chief Minister Pema Khandu on Tuesday, the council of ministers decided that some important stalled projects, which were [...]

Indian real estate saw a surge in setting up of investment platforms in 2022 and an amount of USD 4.52 billion has been committed, which will be deployed over the next few years, according to JLL India. Foreign as well as domestic investors tie up with real estate developers to establish an investment platform for [...]

The consumption of composite materials in India is expected to witness a sharp uptick and touch 7.68 lakh tonne (LT) by 2027, led by demand from sectors like renewable energy, electric vehicles, defence, among others, according to a report. Composite materials or fibre-reinforced plastics help in circular economy as these are manufactured by combining multiple [...]