Business
Adani Withdraws From $1 Billion Sri Lanka Power Project
NEW DELHI: Adani Green Energy, the renewable arm of billionaire Gautam Adani’s conglomerate, has withdrawn from two proposed wind power projects in Sri Lanka, following the Island nation’s new government deciding to renegotiate tariffs. “Adani Green Energy has conveyed its Board’s decision to respectfully withdraw from further engagement in...
India’s White-Collar Hiring Grows By 32 Per Cent: Report
MUMBAI: Hiring for white-collar jobs witnessed a 32 per cent year-on-year surge in January, driven by industries such as semiconductors, energy, waste management and manufacturing in India, a report said on Thursday. The growth in hiring is attributed to surging consumer demand, strategic incentives outlined in the Union Budget...
Ensure Fair Treatment To Customers: RBI Governor to NBFCs
MUMBAI: RBI Governor Sanjay Malhotra on Thursday asked NBFCs to ensure customers are treated fairly and put in place a mechanism for quick redressal of grievances. The governor met with managing directors and chief executive officers of select non-banking financial companies (NBFCs) across all layers, including government NBFCs, housing...
Retail Inflation Dips To 5-Month Low In January; IIP Slows To 3.21% In December
NEW DELHI: Driven by easing food prices, India’s consumer price index (CPI)-based retail inflation fell to a five-month low of 4.31 per cent in January from 5.22 per cent in December, thus raising hopes for another repo rate cut by the Monetary Policy Committee (MPC) during its April meeting....
NCAER Paper Recommends States To Create Independent Fiscal Councils
NEW DELHI: States should create their own independent fiscal councils, with academics, financial market participants, and other experts as their members, in order to strengthen their institutional capacity, a research paper released by National Council of Applied Economic Research (NCAER) has recommended. The paper, titled “The state of the...
PE/VC Investments In India Off To A Strong Start In 2025: EY IVCA Report
MUMBAI: Private equity (PE) and venture capital (VC) investments in India began 2025 on a strong note, surging 37 per cent in January 2025 to $6.3 billion, compared to $4.5 billion in December 2024, according to a report by EY and the Indian Venture and Alternate Capital Association (IVCA)....
Modern Trade Growth In Slow Lane As Q-Commerce Rises
MUMBAI: The convenience factor in shopping within urban areas is beginning to hurt modern trade hard as consumers switch to q-commerce platforms. Data from market research agency NielsenIQ show that the October-December 2024 period saw a volume decline of 1.1% in modern trade, the first time in 10 quarters....
India’s Electronics Industry Pushes For Boosting US Trade Ties
NEW DELHI: The electronics industry is pushing the government to further enhance trade ties with the US and boost bilateral trade to $750 billion by 2032 including $100 billion worth of electronics by leveraging existing policies and incentive frameworks. Ahead of Prime Minister Narendra Modi’s meeting with US President...
Time For Private Industry To Take A Lead In Defence Manufacturing: Rajnath
NEW DELHI: The time has come for the private industry to take a lead in India’s defence manufacturing sector, Defence Minister Rajnath Singh said at Aero India 2025 in Bengaluru on Wednesday, less than two weeks after the Union Budget allocated Rs 27,886 crore for acquiring weapons and systems...
US Steel Tariffs: India Unlikely To Take Early Decision On Retaliation
India is unlikely to take an early call on re-imposition of retaliatory duties on American products in response to US President Donald Trump’s announcement of 25 per cent levy on all imports of steel and aluminium. Much depends on the outcome of the bilateral meeting between Trump and Prime...
HMEL Inks MoUs With Emerson, AVEVA For Automation In Refinery And Petrochemicals At India Energy Week 2025
NEW DELHI: HPCL-Mittal Energy Limited (HMEL) has signed two important Memorandums of Understanding (MoUs) with global automation giants Emerson and AVEVA during the ongoing India Energy Week 2025 in New Delhi. The partnerships aim to expand HMEL’s digital technology adoption to broader refineries and petrochemical process units by implementing...
India’s Natural Gas Consumption To Rise 60%, Imports Double By 2030: IEA
NEW DELHI: Driven by higher consumption in the city gas distribution (CGD) sector, natural gas consumption in India is projected to grow by nearly 60 per cent to 103 billion cubic meters (bcm) annually while gas imports will double by 2030, the International Energy Agency (IEA) said on Wednesday....
India Building A Sanctions-Proof Supply Chain For Russian Oil
Oil refiners in India — eager to keep importing cheap crude from Russia — are working with merchants, shippers and other middlemen to rebuild supply chains as tougher US sanctions come into effect. Speaking on the sidelines of India’s flagship energy gathering in Delhi, executives said the existing networks...
Bangladesh Asks Adani Power To Resume Power Supplies From 1,600 MW India Plant
Bangladesh has asked Adani Power to fully resume supplies from its 1,600-megawatt plant in India after more than three months of reduced sales, a Bangladesh official said, when supplies were halved due to low winter demand and payment disputes. Adani, which signed a 25-year contract under former Prime Minister...
Nuclear Power To Be Part Of Energy Discussions, Says Hardeep Singh Puri
NEW DELHI: Nuclear power will be part of all energy discussions as its commercialisation has not happened yet, largely in the Indian context, even though the country signed a treaty with the US, Union Oil Minister Hardeep Singh Puri said on Tuesday. This assumes significance in view of Prime...
India’s Thermal Coal Imports Register Drop For Second Straight Year
NEW DELHI: India’s thermal coal imports are expected to fall for the second straight year in 2025 due to decreasing dependence on coal for power generation, slowing economic activity and record high inventories, industry officials said this week. All six Indian and international coal traders Reuters spoke with at...
Arcelormittal Considers Shifting European Biz Support Activities To India
ArcelorMittal is considering a potential shift of some of its European business support activities to India, as the region’s steel sector faces pressure from high costs and rising imports, the world’s second-largest steelmaker said on Tuesday. The company, however, said no steel manufacturing would be moved to India from...
Amid Global Tariff Turmoil, India’s Steel Imports Surge Even As Exports Drop Sharply
NEW DELHI: India continued to be a net importer of steel for April-Jan period of the fiscal (10M FY25) with imports exceeding exports by 4.4 million tonnes (mt). In fact, the trade deficit is higher than India’s steel exports, as per a report of Ministry, accessed by businessline. In...
