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NEW DELHI: India will buy crude oil from Venezuela as a number of Indian refineries are equipped to process heavy crudes, Petroleum Minister Hardeep Singh Puri said. With the United States (US) easing sanctions on Caracas in October, India’s imports of Venezuelan oil are set to resume after three...
Coal demand in India, the world’s second largest consumer of the critical commodity, is expected to rise by 3.5 per cent annually till 2026 topping 1,397 million tonnes (mt), the International Energy Agency (IEA) said on Friday. “India becomes the driving force behind the upward pressure on global coal...
NEW DELHI: The Defence Ministry on Friday inked a contract with Bharat Electronics Limited (BEL), Pune, for procurement of Electronic Fuzes for the Indian Army for a period of 10 years, at a total cost of Rs 5,336.25 crore. As part of the ‘Aatmanirbhar Bharat’ vision, this contract has...
NEW DELHI: The government has reviewed the steel import situation amid concerns raised by the domestic industry over the increased inward shipments, according to an industry official. Steel players have been raising concerns with various ministries including steel and commerce over the surge in steel imports from select countries...
NEW DELHI: India’s goods exports slipped back into contraction in November, recording a fall of 2.83% to $33.9 billion, but a sharp drop in imports narrowed the trade deficit to a three-month low of $20.58 billion, official data showed. Trade deficit had touched an all-time high of $31.5 billion...
NEW DELHI: As talks with the European Union (EU) on resolving the dispute around Indian import tariffs on information technology products hit a roadblock, to preempt the adoption of an adverse ruling that had been delivered in the case at the World Trade Organisation (WTO) New Delhi has filed...
NEW DELHI: India will become the world’s third largest economy by 2026 as its GDP in current dollar terms will reach USD 5 trillion in that year and further rise to USD 5.5 trillion in 2027, former Niti Aayog Vice Chairman Arvind Panagariya said on Friday. Delivering the 18th...
MUMBAI: Bucking the overall positive market trend, life insurance stocks declined by up to 8 per cent on Friday after the Insurance Regulatory and Development Authority of India (Irdai) proposed a higher surrender value for life insurance companies. In the last two days, the stock of Life Insurance Corporation...
NEW DELHI: In a first, the Ministry of Mines on Friday directly sanctioned exploration licences to five Notified Private Exploration Agencies (NPEAs) for critical and deep-seated mineral projects. These licensees selected by the Centre sans any auction process would, however, be allowed to participate in the auction of the...
LONDON: A new GBP 10-million design and manufacturing centre has been created in partnership between Imperial College London and Indian multinational Tata Steel as part of efforts to develop innovative new processes to help decarbonise steel production. The Centre for Innovation in Sustainable Design and Manufacturing is expected to...
NEW DELHI: As the world moves towards clean energy technologies, the demand for critical minerals is surging. So is their import dependence. Most of these minerals – which help power electric vehicles, wind turbines and solar panels – are imported from China, which is a leader in global production...
MUMBAI: Essar group has signed three agreements with the Gujarat government to invest Rs 55,000 crore across port, power and energy transition, and create more than 10,000 jobs. This is as part of the company’s renewed phase of making strategic investments in the state. The group has signed a...
NEW DELHI: Average power purchase cost increased by 71 paise per unit during FY22-23 due to a rise in various overheads like transmission and distribution rates, Parliament was informed on Thursday. On the rise in power cost due to increased use of imported coal, Union Power Minister RK Singh,...
Oil demand growth in the key Asian market of India is set to slow next year as the spurt in consumption that followed the pandemic fades, echoing a slowdown in China and presenting a fresh headwind for prices. Consumption will expand 150,000 barrels a day in 2024, down from...
MUMBAI: Global markets are abuzz with activity, with their spirits buoyed by the US Federal Reserve’s dovish pivot. With stock prices soaring, the 10-year US Treasury yield — a gauge of risk appetite — has dipped below 4 per cent and investors are recalibrating their expectations, anticipating more aggressive...
India Inc’s appetite to spend on capital projects is high despite some concerns around elevated geopolitical tensions impacting demand in the coming months. Several top industry officials ET spoke to say the momentum for capital investments remains strong and transient pressures will not impact companies’ making long-term bets on...
NEW DELHI: Breaking the seven-month-long deflationary streak, India’s Wholesale Price Index (WPI)-based inflation rate turned positive in November. The data released by the Ministry of Commerce and Industry on Thursday showed that the inflation in factory gate prices touched an eight-month high of 0.26 per cent in November, up...
NEW DELHI: The Indian Railways has chalked out a plan to purchase new trains worth ₹1 lakh crore over the next few years to cater to the rising demand in the passenger travel segment on the national transporter, Union Railways Minister Ashwini Vaishnaw told ET.The national transporter has spent...