(LiveMint) The steel industry has heaved a sigh of relief after Prime Minister Modi decided against joining the Regional Comprehensive Economic Partnership, a Chinese-backed free trade agreement (FTA) among 15 nations that would have made the largest trade bloc in the world. The RCEP, if one were to include India, would include countries accounting for a third of global economic output and half of the world’s population. RCEP negotiating partners include 10 South-East Asian economies and six others—China, Australia, Japan, South Korea, New Zealand and India. The domestic steel industry, which has long opposed the one-sided nature of India’s existing free…
Author: Aruna Sharma
(ET) India’s state-owned Oil and Natural Gas Corporation (ONGC) has issued a tender to supply 750,000 standard cubic meter per day (scmd) of natural gas beginning December 26, 2019 for three years from its eastern offshore gas field in Andhra Pradesh. The pricing basis for the tender is linked to Platts LNG DES West India price assessments. The reserve gas price for the tender would be calculated based on the simple average of daily Platts DES West India price for three months preceding the relevant month in which gas supplies are made plus a $1 per million British thermal units (MMBtu) constant, Platts said.The bids…
(Zee Business) The country’s largest public-sector refiner and retailer, Indian Oil Corporation (IOC), may consider bidding for the Centre’s stake in Bharat Petroleum Corporation Ltd (BPCL) if such a need arises and the government agrees to reduce the quantum shares on offer in the company, including a waiver from mandatory open offer. Top official sources said that BPCL would fit well into the scheme of things of IOC, and together the entity would become a powerhouse of refining and retailing activity, which would give tough competition to other players in the field, including the global giants eyeing the Indian market. When…
(FE) Finance Minister Nirmala Sitharaman said the next set of measures would be announced for the real estate sector and that the government was working with the Reserve Bank of India (RBI) to help people affected in the sector. Speaking at a function commemorating the silver jubilee of the National Stock Exchange in Mumbai on Tuesday, the finance minister said, “One particular sector which I have not touched and has an impact on the stock market is real estate, which requires a lot more attention,” she said. In the past few months, the government has taken several steps to boost the…
(LiveMint) No country has ever progressed without development in science and technology, said Prime Minister Narendra Modi as he urged the scientific community to look for ways to boosting solar energy and develop electric mobility across the country. Modi was addressing the 5th India International Science Festival (IISF) in Kolkata as he inaugurated the four-day festival through video conferencing, after returning from 16th ASEAN-India Summit in Thailand. The annual event is witnessing participation from scientists and researchers across the country, including delegates from Nepal, Bhutan and Afghanistan. “India has given the world many great scientists. Our history indeed makes us proud. But now our…
The State Government of Himachal Pradesh is organizing Global Investors’ Meet 2019,a flagship business event,at Dharamshala on November 7 -8, 2019. This eventwill showcase the policy and regulatory environment, investment opportunities in eight focus sectorsto boost manufacturing and employment generation in the State. The eight focus sectors are agri-business and post-harvest technology, manufacturing and pharmaceuticals, tourism and hospitality, civil aviation, hydro and renewable energy, wellness, healthcare and AYUSH, housing and urban development, IT-ITeS and electronics, education and skill development. Commerce and Industry and Railway Minister, Piyush Goyal will attend the Rising Himachal Global Investors’ Meet 2019 and inform about the…
(PTI) Tata Power on Monday said it will create an arm, TP Renewable Microgrid, to set up 10,000 microgrids to provide power to five millions homes across the country.The TP Renewable Microgrid would be set up in collaboration with Rockefeller Foundation, which will provide technical support to the offshoot for achieving its objective. Rockefeller Foundation will have equity stake in the venture, the company said. The TP Renewable Microgrid represents important scaling up of efforts to provide access to affordable, reliable and clean electricity in India, and will serve as a model for expanding access to more than 800 million people…
(ET) Bharat Heavy Electricals Ltd (BHEL), the country’s largest power equipment manufacturer, today announced it has bagged a Rs 200 crore order for Renovation, Modernisation & Uprating of Chilla Hydro Electric Plant from Uttarakhand Jal Vidyut Nigam Limited (UJVNL). The order covers four units of 36 Megawatt capacity each at the Chilla hydro project. “The units at Chilla HEP have been in operation for more than 35 years and the RM&U of these units will result in upgradation of output capacity, additional generation and efficiency improvement,” BHEL said in a statement.Major equipment for the contract will be manufactured and supplied by BHEL’s units at Bhopal, Jhansi,…
(ET) The Prime Minister’s Office has set up a panel chaired by Niti Aayog vice-chairman Rajiv Kumar to draw up plans to address air pollution in the Capital and other city-specific issues. The panel — which includes principal scientific advisor (PSA) K VijayRaghavan and Tarun Khanna of Harvard Business School — will submit its report to the Prime Minister in two weeks. It also has Rajya Sabha MP Rajeev Chandrasekhar and major general Madhuri Kanitkar as members. The committee will coordinate efforts by over 40 research institutes to find solutions to problems affecting New Delhi, Bengaluru, Hyderabad and Pune, a senior government…
(ET) Inclusion of natural gas in the goods and services tax regime, pipeline tariff reform and pricing freedom for all domestic gas would be necessary to make the proposed gas trading hub a success, the chief of Petroleum and Natural Gas Regulatory Board has said. India is aiming to build a gas trading hub to help develop the domestic gas market, and the downstream regulator, PNGRB, is working out regulations for the proposed hub.“There will be so much confusion in trading gas on hub without GST. People will withdraw. It will not be a happy situation,” PNGRB chairman Dinesh Kumar Sarraf. This…