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NEW DELHI: India has recently relaxed foreign direct investment norms in the space sector and there is a possibility of further FDI liberalisation in certain other areas when the new government will come to power, a top official said on Saturday. Secretary in Department for Promotion of Industry and...
NEW DELHI: The demand of zinc is expected to double in India in the next five to 10 years on the back of huge investments in infrastructure sector, including steel, International Zinc Association said on Sunday. The demand for zinc in India depends largely on the growth of the...
NEW DELHI: The telecom regulator will strengthen rules around pesky communications and also send its recommendations to the government soon if OTT communication players such as WhatsApp, Signal, Telegram, etc, need to be regulated. Telecom Regulatory Authority of India (Trai) chairman Anil Kumar Lahoti Friday told reporters that recommendations...
NEW DELHI: The United Nations raised India’s 2024 growth forecast to 6.9% from 6.2% projected earlier, on the back of a strong domestic economy. “India’s economy is forecast to expand by 6.9% in 2024 and 6.6% in 2025, mainly driven by strong public investment and resilient private consumption,” the...
NEW DELHI: Global automakers are likely to get relief as the government may consider existing investments in electric vehicle (EV) manufacturing for import concessions. Under the new EV policy, these companies may qualify for a lower import duty of 15% for a three-year period. However, officials said the decision...
NEW DELHI: Finance Minister Nirmala Sitharaman on Friday said the country needs to ramp up its manufacturing sector to increase its share in the global value chain and become ‘Atmanirbhar’. Addressing the captains of the Indian industry at a CII Annual Business Summit, the minister also underlined the need...
MUMBAI: The Reserve Bank of India has urged asset reconstruction companies (ARCs) to follow the regulations in letter and spirit, and directed them to conduct the recovery process responsibly by following transparent and non-discriminatory practices. his was conveyed by senior RBI officials at a closed-door conference the banking regulator...
Secretary, Ministry of Steel, Nagendra Nath Sinha said on Friday that the government is working on introducing a green hydrogen-based process in the steel industry where the iron will be directly reduced with 100 per cent hydrogen, resulting in a sharp reduction in carbon emissions. “This technology for Direct...
India is seeking more data, and greater transparency from its steel-makers on embedded carbon-emissions during the metal-making process, especially with CBAM getting into the transitional phase. The steel industry, in India, accounts for roughly 12 per cent of the total CO2 emissions, registering an average emission intensity of 2.6...
NEW DELHI: India is looking at forming an iron-ore beneficiation policy, whereby low-grade ore would be upgraded to higher variants, Steel Secretary Nagendra Nath Sinha, said. The move would help maximise the use of ore with less iron content in steel production. The use of ore with less iron...
BENGALURU: India’s pulses exports during 2023-24 declined 22 per cent in volume and 2.5 per cent in value terms on a slowdown in purchases by key buyers such as Bangladesh, China and the United Arab Emirates on higher prices. Pulses exports stood at 5.94 lakh tonnes (lt) during 2023-24...
MUMBAI: The frenzy of some of the Urban Co-operative Banks (UCBs) to acquire large corporate exposures, which are beyond their bite size, should be strictly avoided, according to Swaminathan J, Deputy Governor, RBI. Further, there is a need to closely monitor the existing large exposures. “Concentration risk whether it...
NEW DELHI: India’s market watchdog has recommended that several regulators oversee trade in cryptocurrencies, documents show, the strongest signal to date that at least some authorities in the country are open to allowing the use of private virtual assets. The position of the Securities and Exchange Board of India...
BENGALURU: India’s internet economy is estimated to reach $1 trillion by 2030, primarily due to e-commerce, which is expected to be worth $325 billion and rank third globally, according to industry experts. Last year marked a crucial turning point for India’s e-commerce sector, with notable changes in consumer trends,...
MUMBAI: Automotive (auto) major Mahindra & Mahindra (M&M), which is readying to launch nine sport utility vehicles (internal combustion engine/ICE), seven Born Electric Vehicles (BEVs), and seven light commercial vehicles by 2030, has outlined an investment of Rs 27,000 crore in its auto business between 2024-25 (FY25) and 2026-27...
NEW DELHI: Merchandise exports from India may grow to $500-510 billion in the current financial year (FY25) after witnessing a 3 per cent contraction in the last financial year (FY24), Federation of Indian Export Organisations (FIEO), the apex body for exporters, said on Thursday. Services exports could be worth...
NEW DELHI: India aims to replicate the Chabahar port model in other strategic locations in the region to gain access to more such assets, said Sarbananda Sonowal, Union Minister of Ports, Shipping and Waterways. India is actively exploring opportunities to enhance its maritime presence and trade connectivity, he said...
NEW DELHI: Reliance Industries Ltd on Thursday said it has completed the sale of REC Solar Norway AS to Oslo-listed Elkem ASA for around USD 22 million. REC Norway is a wholly-owned unit of REC Solar Holdings and is involved in the manufacturing of kerf-based polysilicon in the Scandinavian...