India has $109 billion opportunity in PCBA export: Report
NEW DELHI: India has the potential of becoming a $109 billion global manufacturing and export hub for Printed Circuit Board Assembly (PCBA) alongside mobile phone manufacturing, said a new report on Thursday. PCBA manufacturing and exports will fast forward the components industry, build ownership of core technology and reduce dependency on China, said the joint […]
India may take oil from Iran, Venezuela again under new US admin
NEW DELHI: India may pursue a case for resumption of oil supplies from sanction-hit Iran and Venezuela once the Joe Biden administration takes charge in the US. Sources in the Oil Ministry said that as a big importer of oil, India wanted to have a diversified market for crude and in this, if traditional markets […]
India’s service sector recovery weakens in November: PMI
NEW DELHI: India’s services sector recovery weakened in November despite further upturn in new work supported business activity growth. However, the sector reported the first rise in employment for nine months. Moreover, the overall level of positive sentiment climbed to the highest since February amid predictions that market conditions would normalise once a vaccine for […]
India, USA sign MoU on Intellectual Property cooperation
NEW DELHI: Department for Promotion of Industry and Internal Trade(DPIIT), Ministry of Commerce and Industry has signed a Memorandum of Understanding (MoU) on 2nd December 2020, in the field of Intellectual Property Cooperation with the United States Patent and Trademark Office (USPTO), Department of Commerce of the United States of America. Dr. Guruprasad Mohapatra, Secretary, […]
India’s manufacturing PMI slips to 3-month low in November
NEW DELHI: India’s manufacturing sector activity lost momentum and fell to a three-month low in November amid slower increases in factory orders, exports and buying levels, a monthly survey said on Tuesday. The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) fell from 58.9 in October to a three-month low of 56.3 in […]
ADB approves $430 million to help rehabilitate power distribution networks in Uttar Pradesh
NEW DELHI: The Asian Development Bank (ADB) has approved a $430 million multitranche financing facility (MFF) to improve the quality and reliability of electricity supply in Uttar Pradesh in India. The Uttar Pradesh Power Distribution Network Rehabilitation Project will improve the efficiency and sustainability of power supply in Uttar Pradesh. The project will finance the […]
ADB, India sign $132.8 million loan to strengthen Meghalaya’s power distribution Sector
NEW DELHI: The Asian Development Bank (ADB) and the Government of India today signed a $132.8 million loan to strengthen and modernize the distribution network and improve the quality of power supplied to households, industries, and businesses in India’s northeastern state of Meghalaya. The signatories to the Meghalaya Power Distribution Sector Improvement Project were Dr. […]
India will become the top automobile manufacturing hub in the world: Nitin Gadkari
NEW DELHI: Today, the global visions community, Horasis in association with IMC Chamber of Commerce and Industry, Mumbai organized the first-ever Virtual Horasis Asia Meeting 2020. Minister of Road Transport & Highways, Shipping and of Micro, Small and Medium Enterprises, Nitin Gadkari graced the meeting with many other prominent political leaders of Asia and business […]
5G prospects compelling for India; spectrum can spur growth: Qualcomm
NEW DELHI: India has a big market that needs to upgrade and set up for 5G offtake, and the government and policy makers can trigger growth of the telecom space by releasing spectrum, including 5G, in adequate quantity and at affordable prices, a senior official of Qualcomm has said. 5G would positively impact India’s telecom […]
Dharmendra Pradhan invites investors to join India’s renewable energy journey
NEW DELHI: India’s Petroleum & Natural Gas and Steel Dharmendra Pradhan hasinvited investors, developers and businesses to be a part of India’s renewable energy journey, assuring them that it will be a highly rewarding and mutually beneficial venture. In the Valedictory Address at the 3rd RE-INVEST 2020 today, he said that India is progressively becoming […]
Pharma firm in India to make Russia’s Sputnik V COVID-19 vaccine
MOSCOW:Indian pharmaceutical company Hetero will manufacture over 100 million doses of the Russian Sputnik V COVID-19 vaccine per year under the terms of a deal unveiled on Friday between it and Russia’s RDIF sovereign wealth fund. The move, which RDIF cast as another step in its efforts to scale up international manufacturing of its flagship […]
Israel, India partners in quest for future with low carbon, pollution levels: Benjamin Netanyahu
By Harinder Mishra JERUSALEM: Israeli Prime Minister Benjamin Netanyahu has said that his country is India’s partner in its quest for a future with low carbon and pollution levels, and exuded confidence that solar energy would constitute over 25 per cent of his country’s energy supply by 2030. Addressing a digital conference of the India-led […]
India extends suspension of scheduled international commercial passenger flights to December 31
NEW DELHI: India’s aviation safety regulator DGCA on Thursday extended the suspension of scheduled international commercial passenger flights to December 31. The restrictions, however, will not apply on international all-cargo operations and flights specifically approved by the Directorate General of Civil Aviation (DGCA), an official circular said. “In partial modification of circular dated 26.6.2020, the […]
Cairn arbitration outcome may impact India’s stand in Vodafone retrospective tax case
NEW DELHI:The government of India is likely to wait for the outcome of an arbitration initiated against it for levy of over Rs 10,000 crore retrospective tax on Cairn Energy before finalising its stand on a similar tax dispute case with Vodafone Group where a international arbitration court has ruled against it in favour of […]
India to infuse Rs 6,000 crore equity in NIIF Debt Platform
NEW DELHI: The government of India will infuse equity of Rs 6,000 crore into the National Investment and Infrastructure Fund (NIIF) Debt Platform, subject to certain conditions, the Union Cabinet decided on Wednesday. The platform comprises of Aseem Infrastructure Finance Ltd (AIFL) and NIIF Infrastructure Finance Ltd (NIIF-IFL). On November 12, Union Finance Minister Nirmala […]
Covid-19 pandemic: India rejects lockdown possibilities, issues 19 Standard Operating Procedure
NEW DELHI: In the wake of ongoing Covid-19 cases in India, the Ministry of Home Affairs (MHA) on Wednesday issued a 19-point Standard Operating Procedure (SOP) giving nod to states and UTs to impose local restrictions if necessary. The SOPs, part of a month-long guidelines issued by the MHA, will be effective from December 1 […]