City New Delhi Financial News

NEW DELHI : The output of eight core infrastructure sectors, which account for two-fifths of India’s industrial output, expanded by 6.7% in February—the fastest pace in three months, according to data released by the ministry of commerce and industry on Thursday. The growth in India's eight key infrastructure industries—coal, crude oil, steel, cement, electricity, fertilisers, refinery products, and natural gas—was also revised to 4.1% for January, from 3.7% earlier. During February 2023, core sector output had expanded at 7.4%.

New Delhi, March 22, 2024: The second edition of the Trans Employment Mela 2024 witnessed remarkable success, with over 227 candidates from the transgender community participating. The recruitment is set to increase by 100% compared to its inaugural edition in 2023. Hosted by The TWEET Foundation and InHarmony, in collaboration with the Ministry of Social Justice and Empowerment (MoSJE) and the National Institute of Social Defence (NISD), the event was held on March 22nd, 2024, at The Welcome Hotel by ITC in New Delhi.

lithium and copper resources, a government source said, as rapid economic expansion and New Delhi's efforts to speed up the energy transition stoke demand for critical minerals. Chile is a key target as it is the world's biggest supplier of copper and the second-biggest producer of lithium, which are essential for electric vehicle batteries and renewable energy systems in the push away from fossil fuels. As part of India's drive to explore overseas for mineral assets, state firms National Aluminium Company, Hindustan Copper and unlisted Mineral Exploration and Consultancy have set up a company called Khanij Bidesh India (KABIL).

India protests Germany's remark on Arvind Kejriwal's arrest: 'Most unwarranted' But the firm counter launched by MEA reaped results as German spokesman yesterday refused to share any details about the summoning in Delhi and also chose not to comment on the case. After Germany, US reacts to Kejriwal's arrest: 'Encourage timely legal process’ The spokesman stated : “Have commented on the case.

NEW DELHI : In line with the Indian government’s Make-in-India initiative, Israel Aerospace Industries has launched its Indian subsidiary, Aerospace Services India, with plans to set up a large-scale hub for maintenance, repair and overhaul (MRO) of defence equipment in Gurugram, the Indian subsidiary’s top official said in an interview. “We are planning to build a large MRO in Gurgaon area.

New Delhi: Adani Green Energy on Wednesday said it has operationalized a 180-MW solar power plant at Devikot in Jaisalmer, Rajasthan. The plant has a 25-year power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI), Adani Green Energy Ltd (AGEL), India's largest renewable energy company, said in a statement.

Women are now not only running startups but are also increasingly occupying positions on company boards, said finance minister Nirmala Sitharaman in New Delhi. «In 2018, only 13.8% of women were reaching the boards; today, that figure has gone up to 18.3%,» she said on Tuesday. According to Sitharaman, out of the 111 unicorns created in India, 20 of them have women in leadership positions.

Indian Air Force (IAF) Chief VR Chaudhari on Wednesday said Balakot-like operations have shown that, given the political will, aerospace power can be effectively carried out beyond enemy lines, in a no-war, no-peace scenario, without escalating into a full-blown conflict. The IAF Chief said this in his inaugural address at the 15th Jumbo Majumdar International Seminar on Aerospace Power in Future Conflicts in New Delhi on Wednesday. «Balakot-like operations have shown that, given the political will, aerospace power can be effectively carried out beyond enemy lines, in a no-war, no-peace scenario, under a nuclear overhang without escalating into a full-blown conflict. Ongoing conflicts across the globe have brought out significant lessons for nations in general and air power in particular. Fora such as this are crucial towards developing a better understanding of the nuances of air power application in modern battlespaces,» he said.

NEW DELHI : Apollo Pipes Ltd, part of the APL Apollo group, has acquired a 53.57% majority stake in Kisan Mouldings Ltd (KML) for ₹118.40 crore, aiming to bolster its position in the PVC pipes and fittings sector. In an exchange filing on Tuesday, Apollo Pipes said that it secured the stake via a preferential issue of 6,40,00,000 equity shares, priced at ₹18.50 per share with a face value of ₹10 each. This capital infusion has led to Kisan Mouldings becoming a subsidiary of Apollo Pipes.

NEW DELHI : India is deploying atomic clocks across the country to ensure the time shown on your digital watch, smartphone and laptop is truly based on Indian Standard Time—an effort launched more than two decades ago after the Kargil war. Currently, most software operating modules in India rely on US-based Network Time Protocol servers. The government wants all software to instead be synchronised with indigenous atomic clocks, both for uniformity in time and as a defence mechanism, especially in times of war.

India’s policy focus on making the country a hub for EV-making will have a side effect. As electric vehicles (EVs) roll off assembly lines, our dependence on Chinese imports will rise, even though we’ve been trying to reduce it. That’s because China, with a head-start of a decade or so, is the global leader of clean-tech in general and this segment of the auto industry in particular.

NEW DELHI : Actis Llp’s BluPine Energy, Singapore’s Sembcorp Industries Ltd, Edelweiss Infrastructure Yield Plus Fund’s Sekura Energy, Torrent Power and JSW Group are exploring to buy Brookfield Renewable’s 1.6 gigawatt (GW) portfolio in India, two people aware of the development said. The deal is expected to have an equity value of around $800 million. JP Morgan is running the sale process for the 1.6 GW capacity, of which 1 GW is operational, while the balance 600 MW is under execution.

Congress leaders' comments on Kangana Ranaut snowballing into a political row, the actress-turned-politician said every woman, irrespective of her background and profession, deserves dignity. Ranaut, who makes her political debut as a BJP candidate from Mandi in Himachal Pradesh, said she was particularly pained by the derogatory comments on the constituency that is often referred to as "Chhoti Kashi". The Congress has been in the crosshairs after demeaning remarks on Ranaut and Mandi were posted on the social media handles of its leaders Supriya Shrinate and H S Ahir.

NEW DELHI : Recent increases in the prices of essential raw materials, including crude oil, palm oil, coffee, and cocoa, could halt the “meaningful" expansion in gross margins that makers of fast moving consumer goods (FMCG) have witnessed over the last few quarters. Faced with such cost pressures, companies are poised to tread carefully before transferring these increases to consumers, mindful of the competitive landscape and the imperative to sustain sales volumes.

Mukhtar Ansari Saheb was admitted to the ICU of Banda Medical College just an hour ago. His condition is very serious. Please pray for him." “Some reports are pending.

Delhi Police has strengthened security at Prime Minister Narendra Modi's residence after the AAP called for a "gherao" to protest against the arrest of Chief Minister Arvind Kejriwal, an officer said on Tuesday. The police have also beefed up security in several other parts of the national capital. A Delhi Traffic Police officer said movement is likely to be affected in parts of New Delhi and Central Delhi due to the protest. «Robust security arrangements have been made. We have installed layers of security to maintain law and order in the area,» the Delhi Police officer said.

Abhijit Gangopadhyay over his reported remarks that he "cannot choose between Gandhi and Godse." The party has demanded that former Calcutta High Court judge Gangopadhyay's candidature for the Lok Sabha polls 2024 be withdrawn. Gangopadhyay, , who joined the BJP recently, is contesting against Trinamool Congress leader Debangshu Bhattacharya in West Bengal Tamluk constituency.

Holi Bank Holiday on March 25, 2024: All banks — public and private — will be closed today on March 25 (Monday) on account of the Holi festival. Notably, this has been a long weekend off for banks with services being shut since March 23 for fourth Saturday and on March 24 for Sunday leaves.

minimum wage with living wage by 2025 and has sought technical assistance from the International Labour Organization (ILO) to create a framework for estimating and operationalising these, ET has learnt. Living wages – a minimum income necessary for a worker to meet their basic needs, factoring in key social expenditure by an individual such as housing, food, healthcare, education and clothing – were endorsed by the ILO earlier this month. These would be higher than basic minimum wages. “We could go beyond minimum wages in a year,” a senior government official told ET. The ILO had agreed on the reform at its 350th governing body meeting in Geneva that concluded on March 14. There are over 500 million workers in India and 90% of them are in the unorganised sector where many draw a daily minimum wage of `176 or more, depending on the state where they work. However, this national wage floor — not revised since 2017 — is not binding on states and hence a few states pay even less than that.

India has called for prioritising issues such as access to finance including trade finance, manufacturing concentration, food security, and reducing transaction costs in international trade and services for discussions in various bodies of the World Trade Organization (WTO). «Cross-cutting real-life trade issues which impact the developing countries disproportionately» such as access to technology, bridging digital divide, supply chain resilience, and enhancing effective aid for trade that is effective, demand driven, untied, and has recipient ownership should be taken for discussion on a priority basis," New Delhi said in its submission on 30 years of WTO and how the development dimension has progressed. «If a large part of the membership believes that their agenda is not in lockstep with the priorities of this organisation or the messaging being delivered to the external world...a sense of defeatism and decline in members' interest in the working of this organisation is imminent,» it said.

IIT Guwahati who was arrested after in social media post claimed that he joined terror organization ISIS was on Sunday sent to 10 days police custody. He is a student of Biotechnology at IIT Guwahati. A senior police who do not want to be named told ET, «Accused Touseef Ali Farooqui — a BTech student of IITG has been arrested u/s 120(B)/121(S)/123 IPC R/w Sec 10/13 UA(P) Act. He was produced before the Court which granted 10 days police custody.» He said that further investigation is underway as of date and further round of questioning of suspects going on. " A flag of ISIS and some documents was found with him. "