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.

India launches first part of critical minerals auction worth USD 5.4 bn
India on Wednesday launched the first part of its critical minerals auction worth an estimated 450 billion rupees (USD 5.40 billion), the country's mines minister said.

Indian jewellery brand Tanishq opens two stores in Texas
Tanishq, an Indian jewellery brand, has opened its store here and in Frisco as part of its global business expansion strategy and to cater to the growing needs of the Indian diaspora in the US. The US state of Texas, with the second largest Indian Diaspora, is now home to two of Tanishq's stores, one in Houston and the other in Frisco, near Dallas.

Jewellery trade moves to expose shell companies, curb illegal fund flows

Mumbai: Diamond houses, jewellers, and gem stores will soon be blacklisted by banks if they fail to disclose the 'ultimate beneficial owners' (UBOs) of their trading partners.

North East Petroleum Mazdoor Union calls off ban on fuel transport to Meghalaya
The North East Petroleum Mazdoor Union on Wednesday called off its ban on transport of fuel to Meghalaya after the state government assured that police action will only affect those involved in illegal pilferage of petrol and diesel, an official said. The union had threatened to ban transport of fuel to Meghalaya after some of its members were arrested on charge of pilferage of petrol and diesel along the Guwahati-Shillong Highway.

Civic body makes 15 e-vehicle charging stations operational, more on the anvil
The data of the Regional Transport Office (RTO) in Pune states that currently 10,000 electric vehicles (EVs) are registered in the city, for which the civic body has made 15 charging stations operational in its jurisdiction.

Petrol, diesel price revision only when oil price stabilises below USD 80
State-owned fuel marketing companies are likely to revert to daily revision in prices of petrol and diesel only when international oil prices stabilise below USD 80 per barrel on a sustained basis, industry officials said. Three state-owned fuel retailers -- Indian Oil Corporation Ltd (IOCL), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) -- which control roughly 90 per cent of the market, have kept petrol and diesel prices on freeze for a record 20th month in a row.

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.

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.

Coal will remain an important part of India's energy needs: Govt official
Coal will remain India's main source of energy for years to come, a top government official said on Thursday, underscoring its commitment to the use of the fossil fuel as the U.N.'s COP28 climate summit opens in Dubai.

Tata Power to install 12 EV charging stations in Kanpur
Tata Power EV Charging Solutions Limited (TPEVCSL), a Tata Power Group Company and one of the leading EV Charging solutions providers in India, signed a Memorandum of Association with the Kanpur Municipal Corporation to install 12 EV charging stations across six strategic locations in Kanpur.

REC approves increase in borrowing to Rs 1.5 trillion
State-owned REC has approved a proposal to increase the borrowing to Rs 1.5 trillion from Rs 1.2 trillion for the financial year 2023-24, the company said on Thursday.

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.

‘RE policy to help state get half its energy from renewable sources’
The state government on Wednesday said that its Renewable Energy Policy 2023 will enable Gujarat to source 50% of its energy from renewable (RE) sources and will help achieve India’s ambitious target of reducing carbon emissions by 45% by 2030.

Sterlite Power wins 8 GW green energy transmission project in Rajasthan
New Delhi: Sterlite Power on Thursday said it has secured a third order under the Green Energy Corridor (GEC) project in Rajasthan through the tariff-based competitive bidding (TBCB) process. The power transmission developer said it secured the order for the Rajasthan REZ Ph-IV (Part-1-Bikaner Complex): Part-B Transmission project. Sterlite Power will execute the on a build, own, operate, and transfer (BOOT) basis for 35 years.

OPEC+ suppliers struggle to agree on cuts to oil production even as prices tumble
The OPEC oil cartel led by Saudi Arabia and allied producers including Russia will try to agree Thursday on cuts to the amount of crude they send to the world, with prices having tumbled lately despite their efforts to prop them up.