New Delhi: Industrial production surged by 13.6 per cent in June mainly due to a low-base effect and good performance by manufacturing, mining and power sectors but the output remained below the pre-pandemic level. The manufacturing sector, which constitutes 77.63 per cent of the Index of Industrial Production (IIP), grew by 13 per cent in… Continue reading Industry output grows 13.6% in June on low-base effect
Author: Economic Times of India Online News
CESL plans to go big on EV, targets procurement of 3 lakh e-3 Wheelers by 2023
Mahua Acharya, MD and CEO, CESL New Delhi: State run Convergence Energy Services Ltd (CESL) has said it is targeting procuring and selling at least 3 lakh electric three wheelers by 2023 adding that it may need to raise capital upto $ 1.5 billion over the next few years for its electric vehicle dreams alone.… Continue reading CESL plans to go big on EV, targets procurement of 3 lakh e-3 Wheelers by 2023
India has to be Atmanirbhar in renewable energy, start chip manufacturing: Nirmala Sitharaman
Uday Kotak, Outgoing President, CII, Sanjiv Bajaj, President-Designate, CII and Rishad Premji, Chairman, Wipro, in conversation with Finance Minister Nirmala Sitharaman at the CII annual conference. The FM said the industry has to be very proactive and partner with people for renewable energy capacities within India. She also said industry should partner with big ticket… Continue reading India has to be Atmanirbhar in renewable energy, start chip manufacturing: Nirmala Sitharaman
India recovery not yet at point for pulling back liquidity: Nirmala Sitharaman
Indian economy has not reached the level where the central bank can begin pulling back liquidity as Asia’s third largest economy is still recovering from the shock of two major waves of coronavirus, Finance Minister Nirmala Sitharaman said on Thursday. “I am glad that RBI (Reserve Bank of India) understands that quicker retrieval of the… Continue reading India recovery not yet at point for pulling back liquidity: Nirmala Sitharaman
Niti Aayog releases handbook for EV charging infra implementation
The handbook provides a systematic and a holistic approach for adoptions by implementing authorities and other stakeholders involved in planning, authorisation and execution of EV charging infrastructure. Niti Aayog on Thursday released a handbook to help state governments and local bodies in framing policies for setting up charging networks for electric vehicles. According to an… Continue reading Niti Aayog releases handbook for EV charging infra implementation
My target is to achieve 100 km per day of highway construction: Gadkari
“Infrastructure (development) is very important for the country…Even during the COVID-19 pandemic, we have made a world record of constructing 38 km of road in a day,” he said. New Delhi: Highlighting the importance of infrastructure development for the country, Union minister Nitin Gadkari on Wednesday said his target is to achieve the pace of… Continue reading My target is to achieve 100 km per day of highway construction: Gadkari
Free vaccination likely to revive economy, provide steady work opportunities:Report
When respondents were asked their opinion on whether the vaccination campaign would improve the unemployment scenario or revive the markets, close to 85 per cent of individuals were hopeful that this would help in bringing promising results. New Delhi: The free vaccination drive rolled out by the government is likely to create a positive impact… Continue reading Free vaccination likely to revive economy, provide steady work opportunities:Report
White House says it remains in touch with auto executives about high car prices
WASHINGTON – The Biden administration’s supply chain team remains in touch with auto industry executives about issues driving up prices, White House press secretary Jen Psaki said on Tuesday. Short-term disruptions in shipments of automotive semiconductors is now becoming a long-term problem and is driving average prices of new and used vehicles to luxury-car levels,… Continue reading White House says it remains in touch with auto executives about high car prices
Need to jumpstart consumption for sustained growth: SBI
The State Bank of India on Tuesday said there’s a need to jump start domestic consumption for India to achieve sustained growth even as export growth shows a definitive uptick. It said for the 18 year period ended FY21, the weighted contribution of exports was 28% and of consumption was 69% while for the seven-year… Continue reading Need to jumpstart consumption for sustained growth: SBI
Reliance to invest in US-based battery maker and energy storage firm Ambri Inc
The investment will help the company commercialise and grow its long-duration energy storage systems business globally. RNESL will invest $50 million to acquire 42.3 million shares of preferred stock in Ambri. Mumbai: Reliance New Energy Solar Ltd (RNESL), a wholly owned subsidiary of Reliance Industries Ltd (RIL), along with strategic investors Paulson & Co. Inc.… Continue reading Reliance to invest in US-based battery maker and energy storage firm Ambri Inc