(BS) Defence Minister Rajnath Singh has approved the “execution model” to implement a mega project to indigenously develop a fifth generation deep penetration advanced medium combat aircraft for the Indian Air force. India has been working on the ambitious AMCA project to develop the medium weight deep penetration fighter jet with advanced stealth features to bolster its air power capability. The defence ministry said on Tuesday that Singh has approved the “Advanced Medium Combat Aircraft (AMCA) Programme Execution Model.” “In a significant push towards enhancing India’s indigenous defence capabilities and fostering a robust domestic aerospace industrial ecosystem, Defence Minister Rajnath…
Author: Aruna Sharma
(BS) Union Home Minister Amit Shah on Tuesday said that Prime Minister Narendra Modi’s 11-year reign will be written in golden letters in history. Speaking at the 150th anniversary of Madhavbagh Laxminarayan temple here, Shah, who spoke in Gujarati, said that those who didn’t know the value of “ek chutki sindoor” were informed about it through ‘Operation Sindoor’. “Modi has completed 11 years as the prime minister. The son of Gujarat is committed to the nation’s development, economic growth and national security. Those who violated the national security have been taught a lesson,” he said. PM Modi has made people…
(FE) The Supreme Court on Monday ordered a status quo on the liquidation proceedings of Bhushan Power and Steel (BPSL) at the National Company Law Tribunal (NCLT), offering a temporary reprieve to JSW Steel. The apex court’s directive means the NCLT is expected to defer its hearing on the liquidation until a review petition by JSW is filed and considered. A bench comprising Justices BV Nagarathna and Satish Chandra Sharma directed JSW Steel to submit its review petition before the expiry of the statutory limitation period, ending June 2. The court made it clear that it was not taking a position…
(FE) AM Green on Monday said it had signed a memorandum of understanding with the Port of Rotterdam Authority to focus on building a green energy supply chain between India and northwestern Europe via Rotterdam in the Netherlands. The partnership will support the development of strategic port infrastructure for safe distribution of hydrogen-based fuels and products, and link India’s net-zero industrial clusters to Europe, enabling exports of up to 1,000,000 tonne annually. The envisaged supply chain can enable trade of green fuels up to $1 billion between the two economies, the company said. The agreement includes the supply of bunker fuel and…
(FE) An early onset of monsoon in India will have a positive impact on farm incomes and rural demand, top executives at some of the country’s leading fast-moving consumer goods (FMCG) companies have said. Coming at a time when urban demand is recovering slowly, the prospect of rural demand gaining momentum is a plus for the Rs 5-lakh crore domestic FMCG market, which has had a difficult FY25, executives said. “An early arrival of the south-west monsoon is definitely good for the domestic FMCG market because it will give a fillip to the rural economy. Rural demand should get a bigger boost…
(BS) Uttar Pradesh Chief Minister Yogi Adityanath on Tuesday directed officials to resolve public problems sensitively and promptly, assuring that his government’s priority remains to serve the people of the state in a transparent matter. Meeting around 250 people who came for the Janata Darshan at the Gorakhnath temple, Adityanath listened to their problems and assured everyone they would get justice, the government said in a statement. Referring the applications to the concerned officials, the Chief Minister directed the officers to adopt sensitivity while addressing the queries. He also called for strict action against those who illegally occupy land, especially…
(FE) With the Reserve Bank of India (RBI) relaxing investment norms for foreign portfolio investors (FPIs) in the corporate bond market recently, experts believe that this will encourage them to participate more aggressively Earlier, FPIs had to mandatorily sell bonds with less than a year of residual maturity or increase their overall investment to bring the concentration in one-year residual maturity to below 30%. Due to this stiff regulation, FPI participation used a mere 14.3% (Rs 1.1 lakh crore) of the overall investment limit of Rs 7.63 lakh crore. With this restriction lifted, FPIs can now hold maturing papers until maturity, providing…
(FE) Cement consumption in India is expected to grow by 50 percent in the next five years, which will further fuel the consolidation of the larger market players, says a Moody’s report. India’s cement consumption was 445 MMTPA (million metric tons per annum) in FY24, which is expected to grow to 670 MMTPA by 2030. The leading cement companies will match the demand through the acquisition of smaller cement companies, particularly the companies based in South India, the report says. The report adds that cement demand in the country is expected to see a 6 to 7 percent annual compound annual growth…
(FE) India’s renewable energy capacity has increased from 75 GW in March 2014 to 232 GW in 2025, says a report by PTI. The largest increase in renewable energy capacity is seen in solar power capacity, which has increased from 2.8 GW in 2014 to 108 GW in 2025. The increased capacity also includes the addition of hydropower. India’s wind energy capacity has also doubled in the last ten years. The report says that the country’s wind power capability, which stood at 21 GW in 2014, has increased to 51 GW in 2025. Furthermore, India’s solar module production industry has also seen a boost in business…
(FE) Delhi Chief Minister Rekha Gupta on Monday asserted that the BJP government is committed to the development of the slums in the national capital and assured that no slums in the city will be demolished. Speaking to persons during her visit to a slum, CM Gupta said that the government is building all these facilities, including drains, toilets and parks for slum dwellers. “I have just come to a slum area where we are laying sewer lines and I want to give a message to all the slum dwellers of Delhi that these people who are in shock that the…