Representative Image New Delhi: USD 1.7 billion was invested in the EV industry in 2021 by PE/VC investors. This amount has reached USD 666 million in 2022 so far. Meanwhile, the EV industry is likely to create more than 10Mn direct jobs and 50Mn indirect jobs by 2030, says a recently launched IVCA-EY-Induslaw report. “While… Continue reading EV sales in India to cross 9 million units by 2027: Report
Author: Economic Times of India Online News
Inditex founder Ortega buys 5% in Enagas’s renewable, hydrogen unit
MADRID – Fashion retailer Zara founder Amancio Ortega bought a 5% stake in Spanish gas grid operator Enagas‘s renewable and hydrogen unit Enagas Renovable, Enagas said on Wednesday. Ortega‘s family office Pontegadea, which had already taken a 5% stake in Enagas, will partner with Hy24, a joint venture between buyout fund Ardian and green hydrogen… Continue reading Inditex founder Ortega buys 5% in Enagas’s renewable, hydrogen unit
Goa to stop offering EV subsidy from July 31
The Department of New & Renewable Energy, Government of Goa, has issued a notice announcing that it will stop offering subsidies for electric vehicles (EVs) in the state, with effect from July 31, 2022. This makes Goa the first state in the country to discontinue subsidies for EVs. The Goa Electric Mobility Policy was introduced… Continue reading Goa to stop offering EV subsidy from July 31
Is recession staring US down? Already upon it? Here’s why it’s hard to say
Figuring out whether a recession is happening in real time is hard — economists often disagree. The United States is not in a recession. Probably. Economic output, as measured by gross domestic product, fell in the first quarter of the year. Government data due this week may show that it fell in the second quarter… Continue reading Is recession staring US down? Already upon it? Here’s why it’s hard to say
‘Use Gati Shakti portal for better execution of projects’
Lucknow: Chief minister Yogi Adityanath has directed all departments to use the PM Gati Shakti portal while planning any project, especially those associated with ease of doing business and ease of living. The portal brings together state and central departments for better coordination, planning and implementation of projects. The CM was reviewing the implementation of… Continue reading ‘Use Gati Shakti portal for better execution of projects’
CCI approves Greenforest New Energies’ stake buy in Tata Power Renewable
The Competition Commission has approved the purchase of stake in Tata Power Renewable Energy Ltd (TPREL) by Greenforest New Energies Bidco. The proposed combination relates to the acquisition of up to 11.43 per cent stake in TPREL by Greenforest New Energies Bidco, an investment vehicle jointly run by BlackRock and Mubadala Investment Company. In a… Continue reading CCI approves Greenforest New Energies’ stake buy in Tata Power Renewable
Scrap all vehicles over 15 yrs in Bengal cities in 6 mths: NGT
Kolkata: The National Green Tribunal’s eastern bench on Tuesday issued an air clean-up order that calls for scrapping all vehicles, commercial and private, that are over 15 years old within six months in 32 cities across the state including Kolkata and Howrah. It also ordered phasing out of public transport (buses and cabs) that have… Continue reading Scrap all vehicles over 15 yrs in Bengal cities in 6 mths: NGT
IMF cuts India’s growth forecast, ups global inflation projection
India’s gross domestic product growth slowed to 4.1% in the January-March quarter as FY22 ended with an 8.7% expansion. The International Monetary Fund on Tuesday slashed India’s growth outlook for FY23 to 7.4% from 8.2% forecast in April saying that the revision reflects mainly less favorable external conditions and more rapid policy tightening. In April,… Continue reading IMF cuts India’s growth forecast, ups global inflation projection
Bajaj Auto Q1 PAT dips marginally to INR 1,163 crore
New Delhi: Home-grown auto major Bajaj Auto on Tuesday reported a 0.6% decline in its consolidated profit after tax at INR 1163.33 crore for the June quarter compared with INR 1,170.17 crore in the year-ago quarter. Revenues from operations rose 7.65% at INR 7,768.89 crore for the June quarter compared with INR 7216.57 crore in… Continue reading Bajaj Auto Q1 PAT dips marginally to INR 1,163 crore
IMF cuts global growth forecasts, warns high inflation threatens recession
The IMF cut its eurozone growth outlook for 2022 to 2.6% from 2.8% in April, reflecting inflationary spillovers from the war in Ukraine. The International Monetary Fund cut global growth forecasts again on Tuesday, warning that downside risks from high inflation and the Ukraine war were materializing and could push the world economy to the… Continue reading IMF cuts global growth forecasts, warns high inflation threatens recession