40 crore trade workers, one crore transporters joined Janta Curfew

 In support of Prime Minister Narendra Modi’s call for Janata curfew, more than 7 crore traders across the country, led by the Confederation of All India Traders (CAIT), closed their businesses today and nearly 40 crore of their employees stayed at their homes and participated in Janta curfew. In a press release, the association further claimed that about 60 thousand commercial markets all over the country remained completely shut with no business activities. Joining hands with CAIT, about 1 crore transporters, 4 crore hawkers and about 2 crore small scale…

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Fuel demand drops in India as coronavirus strikes

India’s fuel demand has dropped by a steep 10-11 per cent in the first two weeks of March as the outbreak of coronavirus (Covid-19) led to the cancellation of flights and reduction in industrial activity. The country had consumed 19.5 million tonnes of petroleum products in March 2019, official data showed. Assuming consumption in two halves of the month was almost the same, as much as 10 million tonnes of fuel was consumed during the first fortnight of March 2019. “The petroleum industry is witnessing the impact of coronavirus on…

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Time extension for solar projects hit by supply chain disruption

The ministry of new and renewable energy (MNRE) has notified facilitating time extension to solar power projects which are likely to get affected by supply chain disruption in China following Coronavirus crisis. India presently imports over 85 percent of its total requirement of solar panels. “All Renewable Energy implementing agencies of the Ministry of New & Renewable Energy (MNRE) are hereby directed to treat delay on account of disruption of the supply chains due to spread of coronavirus in China or any other country, as Force Majeure,” MNRE said in a public…

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Despite Corona, India can still register above 5% growth

Revising its growth forecast for India during FY2020-21, Fitch Ratings last Friday projected GDP growth as against 5.6 percent projection issued in December. The agency maintained downward revision owing to Coronavirus crisis which has begun to hit India and is likely to seriously impact investment and exports. In its Global Economic Outlook 2020, Fitch said the number of people affected by coronavirus in India will keep rising in the coming weeks but that the outbreak will remain contained. However, there are downside risks to this scenario. “Supply-chain disruptions are expected…

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Modest growth in mineral production in January

The index of mineral production of mining and quarrying sector for the month of January 2020 at 124.3, was 4.4% higher as compared to the level in the month of January, 2019. The cumulative growth for the period April- January, 2019-20 over the corresponding period of previous year has been 1.0 percent. Production levels of important minerals in January, 2020 were: Coal 750 lakh tonnes, Lignite 45 lakh tonnes, Natural gas (utilized) 2528 million cu. m., Petroleum (crude) 27 lakh tonnes, Bauxite 2146 thousand tonnes, Chromite 445 thousand tonnes, Copper conc. 12 thousand…

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23 e-commerce agencies supporting handloom marketing

In a written reply submitted in the Lok Sabha recently, Minister of Textiles Smriti Irani informed that the government has engaged 23 e-commerce agencies for online marketing of Handloom products as per the extant policy framework. An amount of Rs. 93.79 crore has been generated from online marketing of Handloom products as on Feb, 2020. E-commerce agencies are on boarding weavers/handloom producers for online marketing by organizing awareness programme/workshops in the handloom clusters. In addition, weavers/handloom producers are also being on boarded on Government e-Market place (GeM) for on-line marketing…

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Permit app-based cabs to work as delivery support, suggests ASSOCHAM

In order to mitigate risks to the trade and a large workforce, industry body  ASSOCHAM has suggested that the app-based cabs be permitted to act as delivery logistics for online and telephonic orders from the e-commerce players as also the traditional retail stores for household essentials in metro cities where social distancing is being encouraged to stay indoors, in the aftermath of Covid-19 health emergency. “With people, rightly avoiding crowded markets, there has been a sharp increase in pick-up orders from online platforms. There has also been a big rise…

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Tata Power expands rooftop solar service to 90 cities

Preparing for a #futureready India, Tata Power, the country’s largest integrated utility is making a big push for a stronger adoption of clean energy by expanding its rooftop solar offerings to 90 cities.  The big rollout from Tata Power is also coming at a time when consumers across all major categories including commercial, industrial, residential and public sector are now adopting solar energy as a reliable and sustainable solution to meet their energy needs that also holds tremendous potential to save costs. Praveer Sinha, CEO & MD, Tata Power said, “Solar Rooftops…

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BPCL buys 2 million barrels extra oil as Saudi cuts price

Indian refiner Bharat Petroleum Corp has bought 2 million barrels of extra Saudi oil for loading in April after the Saudi Kingdom slashed the selling price and announced plans to raise output to record 12.3 million barrels per day (bpd), as per a Reuters news report. “We will be taking two additional cargoes of Arab mix…we have got a mix of Arab light and Arab medium,” BPCL’s head of refineries R. Ramachandran told Reuters. He said his company is also exploring buying additional oil from United Arab Emirates. UAE national oil company ADNOC said it would raise…

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Aviation Industry is worst affected

Murali Ramachandran, CEO-India, Celebi Aviation Holding The aviation industry being at the centre of the coronavirus pandemic, is probably the most impacted. The situation has become quite concerning, now. Following the visa directives, most airlines have started cancelling flights. There has been a steep fall in the number of flights being handled. It’s almost negligible now. With a work force of over 8000, we might have to take up  some extreme decisions like ‘leave without pay’ and other measures as an alternative to try and secure our market viability. Some…

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