New Delhi: Investment in renewable energy in India reached a record USD 14.5 billion last financial year 2021-22, an increase of 125 per cent compared to 2020-21 and 72 per cent over pre-pandemic 2019-20, according to a new report by Institute for Energy Economics and Financial Analysis (IEEFA). “The surge in renewables investment comes on… Continue reading India attracted record USD 14.5 bn investment in renewable energy last financial year
Author: Economic Times of India Online News
OECD slashes FY23 growth forecast for India to 6.9%
The Organisation for Economic Cooperation and Development (OECD) has joined the World Bank and sharply slashed the growth for India to 6.9% growth in FY23 from 8.1% estimated earlier. This is below the Reserve Bank of India‘s estimate of a 7.2% rise. India’s Gross domestic product (GDP) grew 8.7% in 2021-22, making it the fastest-growing… Continue reading OECD slashes FY23 growth forecast for India to 6.9%
Portal planned to bring owners, firms retrofitting old vehicles with electric kits on one platform
Representative Image People willing to get their old diesel or petrol vehicles converted to electric ones may soon be able to do so with just a click of a mouse. The Delhi government’s Transport Department plans to launch a portal that will bring vehicle owners and companies, that are involved in retrofitting old vehicles with… Continue reading Portal planned to bring owners, firms retrofitting old vehicles with electric kits on one platform
Exports rises 24.18% to USD 9.4 billion during June 1-7
NEW DELHI: The country’s exports increased 24.18% to USD 9.39 billion during June 1-7 on account of healthy growth in sectors like engineering, gems and jewellery and petroleum products, an official said. The exports during June 1-7, 2021 stood at USD 7.56 billion, the commerce ministry official said. Imports during the first week of this… Continue reading Exports rises 24.18% to USD 9.4 billion during June 1-7
eBAJA hosted as an independent event for the first time in India; 21 teams participate
eBAJA is an electric engine driven BAJA event organised by SAEINDIA. The 8th edition of eBAJA saw 21 teams participating in the final endurance round, the most demanding of all, in the engineering student level competition of battery powered vehicles. It was the first time in the history of BAJA SAE India that the eBAJA… Continue reading eBAJA hosted as an independent event for the first time in India; 21 teams participate
NHAI creates Guinness World Record for laying longest bituminous lane of 75 kilometres in 105 hours
The total length of the 75 kilometres of single lane continuous bituminous concrete road is equivalent to 37.5 kilometres of two-lane paved shoulder road and the work started on June 3, at 7:27 am and was completed on June 7, at 5 pm, the minister said in a video message. State-owned NHAI has created a… Continue reading NHAI creates Guinness World Record for laying longest bituminous lane of 75 kilometres in 105 hours
OECD sees lower world growth due to Ukraine war’s ‘hefty price’
Representative Image The OECD warned Wednesday that the world economy will pay a “hefty price” for Russia’s invasion of Ukraine as it slashed its 2022 growth forecast and projected higher inflation. The Paris-based organisation, which represents 38 mostly developed countries, is the latest institution to predict lower GDP growth due to the conflict, which has… Continue reading OECD sees lower world growth due to Ukraine war’s ‘hefty price’
Monetary policy highlights: Here are the top 10 takeaways
The Reserve Bank of India (RBI) on Wednesday raised the key policy interest rate by 50 basis points owing to intensifying inflationary pressures, slowing growth, persisting geopolitical tensions and sanctions, and lingering COVID-19 related supply chain bottlenecks. An ET poll suggested the policy repo rate could be increased by 25-50 basis points with nearly half… Continue reading Monetary policy highlights: Here are the top 10 takeaways
Tesla’s job cut may save up to $1 bn yearly operational costs: Report
San Francisco: While tech billionaire Elon Musk recently said that Tesla would be reducing its salaried headcount by 10 per cent, a Goldman Sachs analyst says it can provide the company up to $1 billion in annual operating expenses (OPEX) savings — the company’s day-to-day expenses. Recently, Musk had noted that his electric vehicle company… Continue reading Tesla’s job cut may save up to $1 bn yearly operational costs: Report
Audio Interview: UK Supply Chain Challenges: Post-Brexit Update
Oliver Bridge leads Grant Thornton’s global automotive team, and is Head of Operational Consulting, Business Consulting, Grant Thornton UK. He has over 20 years of advisory and industry experience. For the past twelve years he has worked on complex international advisory assignments, including transactions, supply chain optimisation and operational cost reduction. Oliver has over 20… Continue reading Audio Interview: UK Supply Chain Challenges: Post-Brexit Update