The Chatterjee Group (TCG) is in talks with local and global companies to partner with its majority-owned petrochemical firm Haldia Petrochemicals Ltd (HPL) to build a more than $10 billion project in southern India, HPL’s chief executive said. The private equity firm plans to build the oil-to-chemical project, capable of producing 3.5 million metric tons […]
Day: April 4, 2024
‘Wait for 7 months’; Buyers line up as Xiaomi launches new SU7 sedan EV
In a strategic move to diversify beyond its smartphone business, Xiaomi has ventured into the electric vehicle (EV) market, unveiling its SU7 sedan last week. This transition, first hinted at in 2021, marks Xiaomi’s ambitious foray into a new sector amid stagnating demand for smartphones. Partnering with a unit of state-owned automaker BAIC Group, Xiaomi […]
New EV policy: No restrictions on imports from any country, including China
India has no restrictions on the import of electric vehicles from any country, including China, under a new EV policy, a senior government official told broadcaster CNBC-TV18 on Tuesday. Last month, India announced lowering import taxes on certain electric vehicles produced by carmakers who commit to invest at least $500 million and start domestic manufacturing […]
DGCA asks Vistara to send daily report on flight cancellations, delays
Aviation watchdog DGCA has asked Vistara to submit a daily report on flight cancellations as well as delays, and is also monitoring the situation to ensure minimum inconvenience to passengers. The move comes against the backdrop of non-availability of pilots forcing Vistara to cancel a significant number of flights in recent days. In a statement […]
Stuck on a delayed flight? You might not have to suffer through it anymore!
The Bureau of Civil Aviation Security (BCAS), which oversees aviation safety in India, just issued a new rule for situations where flights are significantly delayed. The rule allows passengers to disembark the aircraft and move to the departure terminal if their flight gets delayed due to bad weather, medical emergencies onboard, or technical issues. This […]
Oil gains on expectations for higher demand as Middle East concerns rise
Oil prices rose on Tuesday, underpinned by signs that demand may improve China and the U.S., the world’s biggest oil consuming nations, and growing concerns of a widening conflict in the Middle East that could affect supply from region. Brent futures for June delivery rose 41 cents to $87.83 a barrel by 0440 GMT. U.S. […]
Green mobility: Nitin Gadkari vows to eliminate petrol, diesel vehicles
Union Minister for Road Transport and Highways, Nitin Gadkari, has expressed a bold ambition to transform India into a green economy, aiming for a future completely free of petrol and diesel vehicles. In an interview with PTI, Gadkari championed using alternative fuels, promoting environmentally sustainable transportation, and proposed a reduction of goods and services (GST) […]
India added 21 GW solar modules, 3 GW cell manufacturing capacity in 2023
India installed 20.8 GW of solar modules and 3.2 GW of cell manufacturing capacity in 2023, according to Mercom Capital. The country’s cumulative solar module manufacturing capacity reached 64.5 GW, and solar cell manufacturing capacity 5.8 GW as of December 2023, the US-based research firm said in its latest report, State of Solar PV Manufacturing. […]
Baltimore collapse: Ship crew to remain on board until probe is completed
The crew of 20 Indians and a Sri Lankan of the crippled container vessel that collided with a key Baltimore bridge last week is busy with their normal duties and will remain on board until the investigation into the accident is completed, the company that owns the vessel has said. The container vessel Dali collided […]