City New Delhi Financial News

31.07 / 19:07

UPS MET Manufacturing Pool NXP country NXP Semiconductors willing to set up fab facility in India

NEW DELHI : NXP Semiconductors, founded as a division of Royal Philips NV, is open to setting up a fabrication unit in India, subject to the development of a suitable ecosystem in the country, said Hitesh Garg, vice-president and India country manager. “If there is an ecosystem developed here, we will support the ecosystem. We will make sure that we are doing the manufacturing of our chips which are possible to be done here in India," Garg said, reiterating views expressed by NXP chief executive officer Kurt Sievers, who was in India earlier this year and met Prime Minister Narendra Modi.

31.07 / 18:25

Manufacturing NCLAT rejects plea against CCI nod to AGI Greenpac

New Delhi: The New Delhi bench of the National Company Law Appellate Tribunal (NCLAT) has dismissed a plea by Independent Sugar Corp. Ltd (INSCO) challenging the Competition Commission of India (CCI)’s approval to AGI Greenpac’s acquisition of Hindustan National Glass, India’s oldest glass manufacturer. On 15 March, the competition regulator had approved the acquisition of HNG by AGI Greenpac.

31.07 / 18:17

Manufacturing country medicines Bar codes must for top 300 medicines

New Delhi: In order to weed our spurious drugs and medicines, India’s apex drug regulator has called for strict implementation of bar codes or QR codes on top 300 medicine brands such as Allegra, Shelcal, Calpol, Dolo, and Meftal Spas among others from Tuesday. The Drugs Control General of India (DCGI) has directed the pharma companies to strictly follow the new regime failing which stiff penalties will be imposed.

31.07 / 18:01

COST UPS Citi Waters Stop the crumble & groan of our cities

Supreme Court's observation that 'city after city is getting into bad shape' is spot on. From the sinking of Joshimath to the inundation of parts of New Delhi to flooding in cities and towns, it has been a story of urban unravelling. Fixing this situation will require planning that balances growth, ecological integrity and access to services and opportunities as the cornerstone of India's urban expansion.

31.07 / 17:33

UPS Progressive Discover Samsung country ‘There can be no bumpy roads to transport semiconductors’

Edited excerpts: How are South Korean firms looking at the Indian semiconductor ecosystem? The semiconductor industry here is bound to see progress. And, when it comes to actually building facilities and factories for semiconductors, safety is the biggest issue. From the point of setting up factories to the point of operations, there’s a strategic process.

31.07 / 17:19

Lowe's Manufacturing Pool awards Samsung country Minimum capacity may be cut for battery storage PLI

NEW DELHI : The government is considering lowering the minimum capacity threshold for bids under a fresh round of the production-linked incentive (PLI) scheme for advanced chemistry cells (ACC) that are used for battery storage and are key to the electric vehicle ecosystem. The government is looking to allocate 20 GWh (gigawatt hour) capacity to new participants in the scheme, and held consultations last week with a diverse set of firms that included Panasonic, Minda Corp, Ather Energy, Maruti Suzuki India Ltd, Tata Motors’ Agratas, NTPC and M&M.

31.07 / 17:19

Waters Manufacturing FSSAI cracks down on use of chemicals, pesticides in vegetables

NEW DELHI : The Food Safety Standards Authority of India (FSSAI) has directed all states and union territories to intensify surveillance of fresh produce due to mounting concerns over high concentrations of harmful pesticides and chemicals in vegetables and fruit sold in markets. Excessive amounts of chemical are used to prolong the shelf-life of fresh fruit and vegetables, prompting the food regulator to intensify the monitoring of businesses involved in trading, re-packaging, manufacturing and selling fresh produce.

31.07 / 17:19

UPS Digital Manufacturing Racing Microchip country Success with chips will take much more effort

Data may or may not be ‘the new oil,’ but advanced microchips for digital devices are in geopolitical focus as the Indo-Pacific witnesses a contest of glares between China and the West over Taiwan, whose grip on the manufacture of these prized inputs has pushed both sides into a race for supply security. Globally, cutting-edge semiconductors are seen to underlie the current path of tech evolution. India’s effort to break into this field has faced setbacks like a proposed Foxconn-Vedanta venture coming apart, but Prime Minister Narendra Modi has signalled the government’s determination.

31.07 / 17:19

UPS SENSEX show cover Holdings Retail holdings in listed firms clock new record in June qtr

NEW DELHI : The aggregate holdings of retail investors in stocks listed on the National Stock Exchange rose to a record high of ₹22.1 trillion as of June 2023, a Mint analysis of data sourced from primeinfobase.com showed. The analysis covered 1,910 companies that had retail shareholders as of 30 June 2023 and whose latest data is available. The value of retail holdings in these companies has risen nearly 15% since 31 March, while it has jumped 23% from a year ago.

31.07 / 17:19

COST UPS Waters Extreme show country How rice is caught between a deluge and a deficit

KARNAL/AMBALA/NEW DELHI : You were so thirsty that you came here to get drowned. We warned you, but you did not listen," quipped the residents of Nabiabad. The pun was directed at Tejraj Singh, a farmer in his mid-50s, who relocated to Nabiabad in 2019.

31.07 / 16:39

UPS Target Fiscal deficit for Q1 at 25% of yearly target

NEW DELHI : The government’s fiscal deficit in the first quarter of the current fiscal (FY24) widened to ₹4.51 trillion, or 25.3% of annual estimates, according to official data released on Monday. The fiscal deficit reported during the quarter ending on 30 June widened from 21.2% reported during the year-ago period.

31.07 / 14:09

UPS Provident guidelines safe place Guidelines on safe environment for women in higher education institutions in place: MoS Education, Subhas Sarkar

New Delhi: The union minister of state for education, Subhas Sarkar, on Monday said that University Grants Commission (UGC) has developed the “guidelines on basic facilities and amenities for safe, secure environment for women in higher educational institutions". Sarkar said that all such institutions have been mandated to have an internal complaint committee under the provision of Section 4 of Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.

31.07 / 13:31

Target BLOCK Domestic coal production rises in Q1; coal prices witness downturn: CareEdge

New Delhi: India’s domestic coal production rose 8.6% year-on-year in the first quarter of the fiscal year 2023-24 (Q1 FY24), reaching an all-time high volume of 223.36 million tonne (MT). The surge in production was primarily driven by a robust 9.8% year-on-year (YoY) rise in output by Coal India Ltd (CIL), according to a report by CareEdge.

31.07 / 13:31

MET country Nine states witness increased coal production during 2022-23: Pralhad Joshi

New Delhi: India reported a significant increase in coal production in the 2022-23 fiscal year, with nine states witnessing substantial growth in their mining activities, according to a written statement from Pralhad Joshi, Union Minister for Coal, Mines, and Parliamentary Affairs, to the Rajya Sabha. The ministry disclosed that India achieved a record coal production of 893.19 million tonnes (MT) (provisional) in 2022-23. This marks an impressive growth of approximately 14.77% from the previous year’s output of 778.21 MT.

31.07 / 13:31

UPS Enterprise Discover exclusive businesses GST Council should discuss burden on small businesses, tax frauds: Amit Mitra

New Delhi: Federal indirect tax body, the Goods and Services Tax (GST) Council should discuss the compliance burden on small businesses and the extent of fraud that is taking place around GST, Amit Mitra, principal chief advisor to West Bengal chief minister Mamata Banerjee urged the union finance minister and GST Council Chairperson Nirmala Sitharaman. In a letter written to Sitharaman on Friday, Amit Mitra has said he has deep concerns about the GST related frauds taking place and the “web of regulations" which he said was overpowering for micro, small and medium enterprises.

31.07 / 12:57

UPS Provident Target Extreme country Govt sets up 48 ITIs in left wing extremism-affected districts through skill development scheme: Pradhan

New Delhi: The central government ambitious ‘Skill Development in districts affected by left wing extremism (LWE)’ scheme has achieved a milestone with the establishment of 48 Industrial Training Institutes (ITIs, Union minister of skill development and entrepreneurship, Dharmendra Pradhan said in a written reply in the Lok Sabha. “The scheme of skill development in districts affected by left wing extremism (LWE) supports establishment of 48 ITIs in 48 districts affected by LWE.

31.07 / 12:29

Cooper Navy chief Admiral R Hari Kumar on three-day visit to Oman

New Delhi: Admiral R Hari Kumar, chief of the naval staff, Indian Navy, is on a three-day official visit to Oman from 31 July to 2 August, the ministry of defence said. The visit aims to consolidate existing bilateral defence relations and high-level discussions with military leadership of the Sultanate of Oman.

31.07 / 12:29

country boost Stringent domestic food safety standards essential to boost consumer confidence: Govt official

New Delhi: There is a need to implement stringent food safety standards to boost consumer trust both within the country and overseas, according to Sanoj Kumar Jha, additional secretary, ministry of food processing industries on Monday. Jha highlighted the crucial role of food safety in the rapid growth of the Indian food processing sector. Addressing the ‘FICCI conference on Capability Enhancement for Safe Food Business and Accession Ceremony of All India Cadre of Safe Food Business Professionals,’ Jha emphasized the significance of India’s agriculture and processed food industries during the pandemic.

31.07 / 10:41

UPS Citi Provident FIVE CEO Mobile Power Tata Power launches EZ Charge card for EV owners

New Delhi: EV charging solutions provider Tata Power on Monday introduced the EZ Charge card, an advanced radio-frequency identification card (RFID) for electric vehicle owners. “The EZ Charge card has an embedded chip that facilitates a secure and seamless initiation of charging sessions, while ensuring quick and efficient payment processing.

31.07 / 10:25

Lowe's Coal washeries capacity needs to be enhanced to reduce import: Coal secy

New Delhi: There is an urgent need to augment the capacity of coal washeries to curtail coal imports and bolster domestic coal beneficiation, coal secretary Amrit Lal Meena said. Speaking at a national seminar on “Washing of Coal - Opportunities & Challenges", organized by the Indian National Committee World Mining Congress, in collaboration with the ministry of coal, Meena emphasized the incorporation of latest technologies and the opening of new mines to boost coal production efficiently.

31.07 / 10:25

UPS Target CEO Parke country Power Deal Renewables Solar Rays Power Infra signs 283-MW solar project deal with Serentica Renewables

New Delhi: Rays Power Infra, a solar power company, on Monday said it has signed an engineering, procurement, and construction (EPC) term sheet for a 283-MW solar project with Serentica Renewables, an end-to-end energy solutions company focusing on industrial decarbonisation. Based on the agreement between the two companies, Rays Power Infra shall be responsible for the engineering, procurement, and construction of a 283MWdc solar PV project using single-axis trackers and bifacial modules, it added. “We are pleased to inform you that Rays has signed a 283 MWp Solar EPC project with Serentica Renewables.

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