Indian Metal & Energy Industry News & Updates
Core industries’ output grew 12.1% in October 2023
The eight core industries’ output growth grew 12.1 percent in October 2023, much higher than the 0.7 per cent growth recorded in same month last fiscal. The government has also now revised upwards the eight core industries output growth for September 2023 to 9.2 percent as against 8.1 percent earlier, official data showed. Also the August 2023 reading has now been revised up to 12.5 percent from the earlier 14-month high of 12.1 percent projected earlier for that month. July 2023 reading has been revised up to 8.5 percent. All the eight industries record positive growth in October 2023.
Economy grows 7.6% in Q2 on strong show by manufacturing sector
New Delhi: India consolidated its position as the fastest-growing major economy globally as the Government’s Statistics office on Thursday released the Gross Domestic Product (GDP) data for second quarter spanning July to September months of the financial year 2023-24. The data showed that Indian economy has grown by 7.6 per cent during Q2 FY24 mainly on account of strong performance by industries. It is much higher than the projection of the Reserve Bank of India’s Monetary Policy Committee (MPC) last month. Economic growth rate based on changes in GDP was 7.8 per cent in April-June quarter (Q1 of FY24) and 6.3 per cent of July period of FY23.
Exicom plans to expand product offering; aims to launch new chargers for LEVs
EV charger manufacturer Exicom plans to expand its product offering and intends to launch new chargers for light electric vehicles including the 2W and 3W segment in the coming year, says Anant Nahata, Managing Director, Exicom.
HPCL to commission Chhara LNG terminal in 2-3 months; gets 6-7 offers to hire capacity
Hindustan Petroleum Corporation Ltd (HPCL) plans to start operations at the 5 million tonne a year Chhara LNG import terminal in Gujarat in the next couple of months and has already got offers from 6-7 parties to hire capacity, a senior company official said on Thursday. The terminal was mechanically completed in March but its commissioning was delayed as a 40-km pipeline connecting it to an existing network meant for sales to consumers was not yet ready.
India's third 700 MW nuclear power reactor completes hot conditioning, says NPCIL
India's third home-built 700 MW nuclear power reactor being developed at Rawatbhata in Rajasthan on Thursday achieved a significant milestone with the completion of the hot conditioning of its primary heat transport system, nuclear power operator NPCIL said. "Unit-7 of Rajasthan Atomic Power Project (RAPP) 7&8, the third reactor in the indigenous 700 MW series, achieved a major milestone of successful completion of Hot Conditioning of the Primary Heat Transport (PHT) system on November 30," the Nuclear Power Corporation of India Limited (NPCIL) said in a statement.
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