Fertiliser, cement production defy de-growth trends in November

The eight core sectors, accounting for over 40 percent of Index of Industrial Production (IIP), displayed negative growth trends for fourth consecutive month in November. The combined Index of Eight Core Industries stood at 126.3 in November, 2019, which marks a decline of 1.5per cent as compared to the index of November,2018. The production in five of the eight core industries continued to be in negative territory which included coal, crude oil, natural gas and steel. However, core sectors like refinery products, cement and fertilizer defied the de-growth trend.     Petroleum…

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Merchandise Exports From India Scheme to be valid till 31st March

Responding to some of the reports in the media regarding discontinuation of MEIS benefits with effect from 1st January, 2020, Sharad Kumar Saraf, President, FIEO recently remarked that these reports are not factually correct and possibly refer to withdrawal of additional MEIS benefits of 2% on certain exports products for which advance  information of their withdrawal was given by DGFT by the Public Notice No.47 dated 7.12.2019. FIEO clarified that MEIS continues till 31st March, 2020 as per the FTP 2015-2020, which is valid till 31st March 2020. However, the additional MEIS…

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A year of impressive performance for road transportation

As per a recently released note on behalf of Ministry of Road Transportation & Highways, 2019 turned out to be a year for consolidating the gains that accrued from major policy decisions taken in the previous five years. During 2018-19, projects in about 5,494 km length were awarded and completion was achieved in about 10,855 km length of roads. The rate of development of roads has increased significantly from about 11.7 km during 2013-14 to about 30 km now, the note maintained. As a result, National Highways (NHs) length has…

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Mr. Kool opens advanced cold chain unit in Ghaziabad

Gurgaon headquartered Ravi Integrated Logistics (operational since 2015) which specializes in cold chain services has started the year by adding a major unit to its portfolio. The company, which operates under Mr. Kool brand tag, has announced the opening of a state- of- the- art cold chain facility in Ghaziabad. The fully mechanised, G+4 unit is quite expansive in terms of storage space – 6000 MT. The unit consists of 14 Chambers and can operate in temperature range of -25 to +25 degree. With this unit, the company is now claiming to…

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Hiranandani – Blackstone JV to develop industrial, warehousing assets

Country’s leading realty firm Hiranandani Group and Blackstone Investments Group have joined hands to jointly develop industrial, logistics and warehousing facilities on a pan-India basis. GreenBase, a fully owned subsidiary of Hiranandani Group, has partnered Blackstone in the equal partnership  joint venture. “We have a very bullish view on the economy in the long term. Logistics and warehousing will be one of the major beneficiaries of this growth. The Joint Venture’s investment (estimated to be Rs 2,500 crores over the next 3-4 years) will also contribute to economic growth as well…

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IOC- ENOC sign fuel supply deal

In a significant recent development, Dubai-based ENOC Group announced the signing of an evergreen aviation fuel supply agreement with Indian Oil Corporation (IOC), the largest commercial oil and gas company in India.  The strategic agreement builds on the strong partnership that ENOC and IOC have fostered over the last two years. With the evergreen contract, IOC will provide aviation fuel to ENOC’s customers flying to and from 34 Indian airports.  His Excellency Saif Humaid Al Falasi, Group Chief Executive Officer of ENOC, said: “Our agreement with IOC marks another milestone…

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Maharastra, Andhra to drive charging stations infrastructure creation

To give a further push to clean mobility in Road Transport Sector, the Department of Heavy Industries has sanctioned 2636 charging stations in 62 cities across 24 States/UTs under FAME India (Faster Adoption and Manufacturing of Electric Vehicles in India) scheme phase II. As many as 317 EV charging stations have been allotted in Maharashtra, 266 in Andhra Pradesh, 256 in Tamil Nadu, 228 in Gujarat, 205 in Rajasthan, 207 in Uttar Pradesh, 172 in Karnataka, 159 in Madhya Pradesh, 141 in West Bengal, 138 in Telangana, 131 in Kerala, 72 in Delhi,…

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KVIC unveils first silk processing plant in Gujarat

In a historic initiative taken by Khadi and Village Industries Commission (KVIC), a Silk Processing Plant was inaugurated on 3rd January at Surendranagar in Gujarat which would help cut down the cost of production of silk yarn drastically and increase the sale and availability of raw material for Gujarati Patola Sarees locally. The plant has been set up by a khadi institution at a cost of Rs 75 lack in which KVIC has contributeed Rs 60 lakh. Chairman, KVIC Shri V. K. Saxena said that cocoons will be brought from…

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NTPC’s installed capacity crosses 58,000 MW

India’s largest power generator, NTPC Ltd recently announced its total installed capacity increasing to 58,156 MW with the commissioning of 1st Unit of 800 MW at Darlipali Super Thermal Power Project in Odisha. With this addition, the total installed capacity of NTPC and NTPC group has become 49,695 MW and 58,156 MW respectively. During the current financial year, the company has installed total of 3,030 MW capacity across five different plant locations. NTPC currently operates in 55 power stations (24 Coal, 7 combined cycle gas/liquid fuel, 2 Hydro, 1 Wind…

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Muted demand for commercial vehicles in 2020

In a recent report on the automobile industry, noted credit rating agency ICRA has maintained a Negative year-end outlook for the commercial vehicle (CV) segment over the near term, given the slowing economic growth, current overcapacity in the CV space and tight financing environment.  “ The M&HCV (Truck) segment has been significantly impacted over the past year, with volumes contracting by a sharp 41% in YTD FY2020. Excess capacity created in the system post revision of axle load norms in July 2018, coupled with slowdown in the economy and infrastructure…

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