“While passenger vehicles quickly recovered, the recovery period for two-wheelers, three-wheelers, and commercial vehicles is longer,” the Economic Survey 2023-24 stated. The Economic Survey 2023-24, presented in Parliament on Monday, revealed that the production linked incentive scheme (PLI) for automobiles and auto components has attracted proposed investments of INR 67,690 crore. As of the end… Continue reading Economic Survey 2023-24: PLI scheme attracts INR 67,690 cr investments
Author: Economic Times of India Online News
Coal India ventures into non-coal mineral mining with graphite project
In alignment with the government’s Atmanirbharta vision, Coal India has formed a special team to focus on other critical minerals both globally and within India. Graphite is the first mineral Coal India Limited (CIL) will diversify its operations beyond coal, following an order from the Ministry of Mines granting the company a composite license for… Continue reading Coal India ventures into non-coal mineral mining with graphite project
Rising imports may pose a challenge for local steel makers: JSW Steel’s chief executive officer Jayant Acharya
“We are putting up capacities and investments to increase the availability of steel, and in doing so, are exposed to certain risks on these investments for three-four years,” Acharya said. A continued rise in steel imports at ultra-competitive rates could pose a challenge for domestic manufacturers investing in additional capacities to capture local demand that… Continue reading Rising imports may pose a challenge for local steel makers: JSW Steel’s chief executive officer Jayant Acharya
JSW Infrastructure eyes plans for green hydrogen, ammonia plants at its ports
“We’ve been approached by companies interested in the green hydrogen and ammonia segment, and we are evaluating the potential to enter this market as well,” he added. JSW Infrastructure Ltd, India’s second-largest port operator, is considering building green hydrogen and ammonia plants at its ports to diversify into this potential growth market. “This is a… Continue reading JSW Infrastructure eyes plans for green hydrogen, ammonia plants at its ports
Indian Oil sets out its non-oil business plan
Indian Oil has a strategic agreement with Japan’s Panasonic Energy to explore opportunities for manufacturing lithium-ion battery cells in India. New Delhi: Indian Oil Corp aims to boost natural gas sales threefold and renewable energy capacity to 31 GW by 2030, besides building 5 GWh of lithium-ion battery-making capacity by 2031 as it diversifies its… Continue reading Indian Oil sets out its non-oil business plan
Nippon Steel hires Mike Pompeo to advise on U.S. Steel deal
Nippon Steel’s key negotiator on the deal, Vice Chairman Takahiro Mori, visited the United States this month, including U.S. Steel facilities, and met stakeholders and employees, the company said earlier this week. Japan’s biggest steelmaker, Nippon Steel Corp., has hired former U.S. Secretary of State Mike Pompeo to help with its effort to acquire U.S.… Continue reading Nippon Steel hires Mike Pompeo to advise on U.S. Steel deal
Vedanta raised USD 1 bn through QIP share offering
The miner, owned by billionaire Anil Agarwal, is currently working on several projects, and is looking to raise funds amounting to billions of dollars. Vedanta Ltd, India’s metals-to-oil conglomerate, has raised 85 billion rupees (USD 1.0 billion) through a qualified institutional placement (QIP) that opened on July 15 at 440 rupees per share, a company… Continue reading Vedanta raised USD 1 bn through QIP share offering
Indian startups secured over USD 200 mn in funding this week
According to a new report, over 77% of Indian startups now invest in advanced technologies such as AI, machine learning (ML), internet of things (IoT), and blockchain. New Delhi: The Indian startup ecosystem saw more than USD 200 million in funding this week in 25 deals — a significant surge from nearly USD 116.26 million… Continue reading Indian startups secured over USD 200 mn in funding this week
Manoj Kolhatkar to step down as MD of Gabriel India after 13 years of service
The Board of Directors of Gabriel India has accepted Kolhatkar’s request to step down and has nominated Atul Jaggi as his successor. Jaggi has been with the company for over 24 years. New Delhi: Manoj Kolhatkar, Managing Director of Gabriel India, will step down after 13 years of service. He will be succeeded by Atul… Continue reading Manoj Kolhatkar to step down as MD of Gabriel India after 13 years of service
Budget 2024: Indian auto OEMs put high hopes on localisation, GST cut, sustainable mobility
Updated On Jul 20, 2024 at 08:30 AM IST Read by: 100 Industry Professionals Read by 100 Industry Professionals The Union Finance Minister, Nirmala Sitharaman, had announced in the interim budget that the government would strengthen the EV ecosystem and promote technological advancements. New Delhi: The interim budget announced in February didn’t bring major changes… Continue reading Budget 2024: Indian auto OEMs put high hopes on localisation, GST cut, sustainable mobility