Electric vehicle (EV) sales in India surged significantly in July, with overall volumes increasing by 55.2% year-on-year to 179,038 units, according to data released by the Federation of Automobile Dealers Association (FADA). The primary driver of this growth was the electric two-wheeler segment, which recorded a staggering 96% increase compared to the same period last …
India is making progress toward energy self-sufficiency, as Minister of Petroleum and Natural Gas Hardeep Puri has noted. The development of the Numaligarh Refinery in Assam is a crucial part of this growth. Currently undergoing a significant expansion, the refinery’s capacity is set to triple from 3 MMTPA to 9 MMTPA by 2024. To support …
On August 03, 2024, India took a significant step towards its journey to become self-reliant for semiconductor requirements with the commencement of construction for Tata’s semiconductor unit in Assam. The event, graced by Assam Chief Minister Himanta Biswa Sarma and Tata Sons Chairman N Chandrasekaran, marks a significant milestone in the government’s ‘Act East’ policy. …
India’s refining sector is poised for significant expansion to cater to the country’s burgeoning fuel consumption. According to the junior petroleum minister, the nation’s annual refining capacity is projected to surge by approximately 20% to 309.5 million metric tons, or 6.19 million barrels per day, by the year 2028. To achieve this ambitious target, Indian …
India’s coal sector is undergoing a significant transformation, marked by increased domestic production, reduced import dependency, and a strategic shift towards value-added products. Domestic coal production has surged, rising by 11.65% to 997.26 million tonnes in 2023-24, from 893.19 million tonnes in the previous year. To meet the growing demand, which reached 1,233.86 million tonnes …
The ongoing disparity between deposit and credit growth in the Indian banking sector has persisted even a year after the merger of HDFC and HDFC Bank. Latest data from the Reserve Bank of India (RBI) indicates that while credit expanded by 14% year-on-year to ₹168 lakh crore as of July 12, deposits grew at a …
India, with its vast coal reserves, is strategically positioning itself as a global leader in coal gasification. Recognising the potential of this technology to enhance energy security, reduce import dependency, and contribute to a cleaner energy mix, the government has embarked on a comprehensive initiative. The Coal Gasification Mission, launched in 2020, aims to gasify …
The Reserve Bank of India (RBI) has proposed stricter liquidity coverage ratio (LCR) norms to mitigate the risk of bank runs, particularly those triggered by digital banking channels. This move aims to bolster the banking system’s resilience against sudden deposit withdrawals. LCR mandates banks to maintain a certain proportion of high-quality liquid assets (HQLA) to …
The Petroleum and Natural Gas Regulatory Board (PNGRB) has announced a significant revision in tariffs for petroleum product pipelines, effective August 1, 2024. The new regulations aim to ensure a reasonable return for pipeline operators while considering inflationary pressures. For pipelines commissioned before December 2010, the tariff will be indexed to 75% of the basic …
The Government of India is strategically navigating a complex energy landscape, balancing the need for reliable power generation with its ambitious renewable energy targets. To meet the projected electricity demand of 283 GW by 2031-32, the government has outlined plans to augment coal-based capacity by an additional 80 GW, requiring a substantial investment of ₹6,67,200 …
