Indian Economy: News and Discussion

Haldilal

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Ya'll Nibbiars The Engineers India Limited EIL bags contract from Republic of Guyana for providing PMC services for setting up an Integrated Natural Gas Liquids and 300 MW CCGT power project in the country. The Order Value : 180 crore rupees.

The Ramco Cements Ltd to invest 180 crore rupees for expansion of its grinding unit at Haridaspur in Odisha.
 

RoaringTigerHiddenDragon

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They are just buying the stake tho.
From Mukes' behaviors he seems to be the guy who can eat losses short term but he has to do whatever calculations and guarantee his subsidiary will be profitable long-term, for semiconductor fab I don't think it's that simple to assess risk considering how capital and tech intensive it is.
I am sure Mukesh is thinking about where Anil ended up. He is the wiser one.
 

RoaringTigerHiddenDragon

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Nope. Zoho founder wants to open office in Tier-2 cities since he believes that opening there will allow lot of people a chance to work instead of moving to Tier 1 cities.

So far Zoho offices in TN.
1. Chennai - HQ - Tier -1
2. Tenkasi - Tier - 3 (founder hometown)
3. Madurai - Tier 2 (Under Construction)
4. Trichy - Tier 2 (Under construction)
5. Theni - Tier 3

Andhra Pradesh
1. Renigunta

So, I believe in UP he will open up in some Tier 2 cities which is a good job instead of big IT companies who are simply expanding in Tier 1 and forcing more people to come there.
Open in Deoband and say only dharmic religions eligible for hire. Yogi kush hua.
 

ezsasa

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They are just buying the stake tho.
From Mukes' behaviors he seems to be the guy who can eat losses short term but he has to do whatever calculations and guarantee his subsidiary will be profitable long-term, for semiconductor fab I don't think it's that simple to assess risk considering how capital and tech intensive it is.
isn't it what reliance does?
they had started up with polyster fabric and ended up with oil refinery.
started with telecom, now securing semiconductor supply for their devices that uses their telecom.
 
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shade

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isn't it what reliance does?
they had started up with polyster fabric and ended up with oil refinery.
started with telecom, now securing semiconductor supply for their devices that uses their telecom.
ISMC will make analog chips afaik, don't think they are used in telecom products, all this shows is Indian corporates think that they can make money from fabs here, which is a good sign.
Who knows, Mukes may even open his own fab some day :troll:
 

Abbey

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Defending the clearance given last month to the environmental release of Genetically Modified (GM) Mustard, the central government told the Supreme Court that the deployment of GM Mustard hybrids will contribute to India’s self-sustenance in the production of edible oil and shall go a long way in realising the vision of “Atmanirbhar Bharat”. To oppose it, the government added, will hurt farmers, consumers and industry.

In an affidavit filed before the top court, the Union Ministry of Environment, Forest and Climate Change (MoEFCC) said that domestic production of GM Mustard will reduce India’s dependency on other countries from where it is importing large quantities of edible oil to meet domestic demand.

On 3 November, a bench of justices Dinesh Maheshwari and Sudhanshu Dhulia had sought a response to an application seeking moratorium on the release of GM Mustard even as the Centre assured there will be no “precipitative action”. The affidavit filed Thursday is in response to this court order.

At present, India meets nearly 55-60 per cent of its edible oil demand through imports, the affidavit mentioned.


Incidentally, it submitted, the imported edible oil is from GM oilseeds. For instance, India imports about 55,000 MT of canola oil largely from GM canola seeds. Similarly, nearly 2.8 lakh tonnes of soybean oil is being imported annually, again largely comprising GM soybean oil.

“Most exporting countries such as Argentina, USA, Brazil and Canada cultivate GM soybean. Globally, around 80 per cent of soybean growing is GM soybean,” the MoEFCC document said.

“Mustard is the most important edible oil and seed meal crop of India, grown in around 8-9 million hectares of land. Seed replacement (farmer buying fresh seed) rates are around 63 per cent and area under irrigation has increased to 83 per cent of the total area under mustard. Despite all these investments, yields of mustard are stagnating,” the affidavit said.

However, the present rate of edible oil consumption in India surpasses the domestic production rate, owing to which India is constantly importing edible oil. But the average prices of refined palm oil, refined soy oil and mustard oil have been continuously increasing due to which India needs to be independent in oil production to meet the domestic consumption demand, the affidavit added.

In this scenario, to oppose introduction of such technology in the agricultural sector, particularly when India is importing and consuming oil derived from GM crops, would only hurt farmers, consumers and the industry, the ministry has claimed.

“Increased edible oil prices will also lead to inflation in the Indian economy. An agricultural reform like growing GM oilseed crops like mustard will be useful,” asserted the affidavit, while underlining Centre’s commitment to improve “farm productivity in oilseeds and grain legumes with an explicit goal of making the country Aatmanirbhar in edible oils and grain legumes.”

‘Conditional approval to GM Mustard after exhaustive regulatory review process’
The application seeking moratorium on the release of GM Mustard was moved by activists led by Aruna Rodrigues, who filed a petition in 2016 and then in 2021 opposing open-field trials or commercial release of herbicide tolerant (HT) crops, including GM Mustard. The court was informed that a committee of experts formed by the top court in 2012, called the technical expert committee (TEC) had recommended a total ban on all HT crops.

Sharing extensive details of the regulatory mechanism operating to monitor GM crops, the government provided an insight into the decision-making process for GM Mustard. As per the government document, a 3,251-page dossier containing results of all bio-safety studies was submitted to the Genetically Engineering Appraisal Committee (GEAC) in 2015, following which a thorough examination was done by the GEAC and its sub-committees prior to the clearance.

The application for environmental release of GM Mustard was considered only after the applicant completed three years of trial, as required under the regulatory regime.

“The conditional approval has been made after a long and exhaustive regulatory review process which commences as far back as in 2010. This conditional approval pertains to an environmental release prior to commercial release and is subject to necessary regulatory and technical oversight,” the affidavit said, as it provided year-wise development of the GM Mustard project.

Even the Consortium of Indian Farmers Association (CIFA) made a presentation to the members of GEAC, with a request to approve GM Mustard in India, as “this technology confers additional yield of 30 per cent and also saves huge money through import substitution and also benefits the farmers by providing additional income,” the affidavit said.

However, in case there is any evidence regarding harmful effects of the approved GM Mustard, the approval can be revoked on the ground of non-compliance of any condition stipulated by the GEAC.
 

Haldilal

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Ya'll Nibbiars The Ola discontinues OLA PLAY services from its cabs with effective from 15 November 2022.
 

AnantS

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Ya'll Nibbiars The Ola discontinues OLA PLAY services from its cabs with effective from 15 November 2022.
sensible who needs that when everyone carrying smartphone these days? unless the play was hooked to vehicle speaker setup, otherwise it would be pointless for customer to use service against drivers own preference blaring through speakers.
 

Haldilal

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Ya'll Nibbiars The RVNL bags order from Ministry of External Affairs for development of Harbour of Uthuru Thila Falhu Islands in Maldives.

The Project cost is 1,546 crores rupees with timeline of 2 years.
 

Haldilal

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Firaand the price mentioned is also in corporate hospitals, expansive cities, in rest of India and rest of hospitals, the price will be even cheaper than this..
Ya'll Nibbiars cut the cost by two third even in Mumbai.
 

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