Category: Business & Economics

India, found its first lithium deposits in Jammu and Kashmir with estimated reserves of 5.9 million tonnes.  India’s federally administered region of Jammu and Kashmir will auction its lithium reserves over the next few weeks.  “The auction will happen soon and some overseas miners have shown interest,” the source said.  The source also said that KABIL, a state-owned joint venture formed to scout for minerals overseas, was in the “final stages” of securing a few lithium blocks in Argentina.  India, among the world’s top greenhouse gas emitters, has been pursuing…

Union Minister of Rural Development and Panchayati Raj, Shri Giriraj Singh will address the 2nd National Seminar on “Social Audit of Rural Development Programmes” on 26th September 2023 at Dr. Ambedkar International Centre here. The theme of this National Seminar is “Re-imagining Social Audit with a view to bring transparency and accountability”. Union Minister of States for Rural Development and Steel Shri Faggan Singh Kulaste, Union Minister of State for Rural Development & Consumer Affairs, Food and Public Distribution Sadhvi Niranjan Jyoti and Union Minister of State for Panchayati Raj Shri Kapil Moreshwar Patil,…

In a significant step towards green mobility, Shri Hardeep Singh Puri, Union Minister Petroleum & Natural Gas and Housing and Urban Affairs, will flag off 1st Green Hydrogen Fuel Cell Bus at Kartavya Path in Delhi on September 25, 2023. Green Hydrogen, produced using renewable energy, has the potential to play a key role in such low-carbon and self-reliant economic pathways. Green Hydrogen can enable utilization of domestically abundant renewable energy resources across regions, seasons, and sectors, feeding multiple usage streams, either as a fuel or as an industrial feedstock. It…

Amid a huge diplomatic firestorm between the two countries, the Canada-based associate firm of Indian auto giant Mahindra & Mahindra, Resson Aerospace Corporation, has ceased to exist.  The timing of the move has led to speculations on social media, but the reason isn’t yet clear.   Mahindra & Mahindra hasn’t issued any statement on the same, however, the company said in its regulatory filing.  The Mumbai-based automaker held an 11.18 percent stake in the firm, which had filed for a voluntary winding-up.  “Upon liquidation of Resson, the company is entitled…

Adani Total Gas Ltd., the joint venture of billionaire Gautam Adani’s group and French energy giant Total Energies, has received a work order for a 500-tonne-per-day bio-CNG plant in Ahmedabad.  The bio-CNG plant will be set up at Pirana or Gyaspur in Ahmedabad for a concession period of 20 years.  Adani Total Gas shares closed 1.75% higher at Rs 644.70 in the previous session against Tuesday’s close of Rs 633.60 on BSE.  Adani Total Gas stock has lost 82.50 percent in a year and fallen 82 percent in 2023.  Adani…

While India becoming the fifth largest economy in the world is an ‘impressive achievement,’ there is a need to grow fast to increase the per capita income of the country from the present levels- former Reserve Bank of India Governor C Rangarajan said.  ‘Employment enhancement without growth is not sustainable. That is why we must aim at least at a sustained growth of 7 per cent’-He said.  In 2020, India’s rank with respect to per capita income was 142 out of 197 countries.  if the country achieves a 7% rate…

UK, Tata Steel sign 1.25-million-pound deal; protest over potential job cuts.  Reacting to the development, British Prime Minister Rishi Sunak called it “a big day for UK steel”.  Tata will use the government subsidy to help convert the South Wales plant’s two coal coal-fired blast furnaces to electric arc versions.  Rishi Sunak government’s plan to pump in 500 million pounds into the country’s biggest steel plant in South Wales.  This comes as protests erupted owing to potential job risks to 3,000 workers.  It is being dubbed as one of the…

State-run Oil India (OIL) is planning to invest around ₹8,000 crore in the 2G ethanol space, as part of its overall target of achieving net zero emissions by 2040.  The company is investing ₹25,000 crores to achieve net zero by 2040, in areas including 2G ethanol, green hydrogen, compressed biogas (CBG), and solar power.  Crude oil prices have been on the rise in recent times, Oil India, being a prominent player in the industry, is well-prepared to handle such fluctuations and maintain its production goals.  In terms of solar power,…

The Supreme Court has come down hard on SpiceJet Chairman and Managing Director Ajay Singh, warning him he will be sent to Tihar jail for non-compliance.  The Supreme Court asked Ajay Singh to pay $ 5,00,000 towards an installment to the Swiss firm along with a $ 1 million defaulted amount.  The bench told Mr Singh he would have to abide by the consent terms and warned, “We are not bothered even if you die. It is too much. We will send you to Tihar jail if you do not…

  Honda Cars India Ltd. (HCIL), a leading manufacturer of premium cars in India today announced a significant advancement to further enrich the customers’ ownership journey. The company introduced a host of new features in the Honda Connect application for an enhanced connected experience for the user.   The latest add-ons represent a significant stride towards enriching the customer ownership experience. With this update, Honda Connect now offers 37 highly useful features and comes with the industry’s best 5-year free subscription package*.   Mr Yuichi Murata, Director, of Marketing & Sales at Honda Cars India,…