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HinduBusinessLine
7d
410
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Oil to replace coal as main driver of India’s primary energy demand by 2050
- OPEC's World Oil Outlook 2025 report forecasts a shift in India's primary energy demand, with oil expected to surpass coal as the main driver by 2050.
- Coal's share in India's primary energy demand is projected to decrease from 45.8% in 2024 to around 29.6% in the next 25 years, while the share of oil is expected to rise to 31.1% by 2050.
- Oil and gas are anticipated to comprise 42.7% of India's primary energy demand by 2050, with projections for India's crude oil demand peaking around 2050 and coal demand plateauing in 2045.
- India's energy demand is predicted to double from 2024 to 2050, reaching 43.6 million barrels of oil equivalent per day, driven by factors like population growth, middle-class expansion, and economic development.
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HinduBusinessLine
7d
253
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Ujjivan, ESAF, Utkarsh, Suryoday: What to expect from SFBs in Q1 FY26
- Deposits and advances at system level have seen modest growth in Q1 FY26.
- SFBs with significant microfinance exposure like Ujjivan, Utkarsh facing challenges.
- FY25 brought losses, stock price declines for these banks due to high provisions.
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HinduBusinessLine
7d
387
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Vizhinjam port plans ₹10,000-crore outlay on expansion starting September
- Vizhinjam International Deepwater Multipurpose Seaport, India’s first semi-automated transshipment port, achieved full capacity utilization of 1.2 million TEUs in its first year of operations.
- The port plans to invest around ₹10,000 crore in infrastructure expansion, advancing the next phase so the extended terminal is ready by 2028.
- The expansion will include extending the berth by 1.2 km, building a multipurpose berth, increasing the number of cranes to 90, enhancing warehousing, and upgrading inland connectivity.
- The port's expansion aims to reduce India's reliance on foreign ports for transshipment, improve cargo handling capacity, and enhance connectivity for industrial clusters like textiles in southern Tamil Nadu.
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HinduBusinessLine
7d
476
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KSH INFRA to invest ₹550 cr in second industrial & logistics park in Sriperumbudur
- KSH INFRA plans to invest ₹550 crore in its second industrial and logistics park in Sriperumbudur, covering around 60 acres of land with a development potential of 1.6 million sq ft.
- Construction for the park is set to start between March and April 2026 and is projected to create over 1,500 job opportunities in the region.
- Sriperumbudur-Oragadam belt already hosts major companies like Hyundai, Dell, Samsung, and others, establishing itself as a prominent multi-sectoral industrial cluster.
- The location's significance is accentuated by ongoing infrastructure projects like the Chennai-Bangalore Expressway and the Greenfield Airport, positioning it as a key area within the Chennai-Bangalore Industrial Corridor.
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Bloomberg Quint
7d
390
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Income Tax Refunds Surge 474% In Last 10 Years, Double Of Tax Collections
- Income tax refunds in India have surged by 474% in the last 10 years, increasing from Rs 83,008 crore in FY14 to Rs 4,76,743 crore in FY25.
- The growth in tax refunds is nearly double the pace of tax collections, aided by digital interventions by the Income Tax Department.
- The number of days to issue income tax refunds has decreased from 93 days in 2013 to just 17 days in 2024, reflecting improvements in tax administration through digital infrastructure.
- The taxpayer base has expanded by 133% in 10 years, with income tax returns filed growing from 3.8 crore in 2013 to 8.89 crore in 2024, indicating the formalization of India's economy.
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Bloomberg Quint
7d
99
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Trade Setup For July 14: Nifty Support Moves To 24,900-25,100 Post Three Straight Days Of Decline
- The NSE Nifty 50's key positional support is placed at 24,900-25,100 according to analysts from Bajaj Broking Research.
- The index is expected to move higher towards the 25,500–25,600 range in the coming week.
- Market sentiment is weak as Nifty slipped below the 20-day simple moving average zone, potentially dragging it down to 24,800-24,650.
- The Bank Nifty finds support at 56,000-55,500 and is seen consolidating in the range 56,500-57,600.
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Bloomberg Quint
7d
352
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India's FGD Rule Relaxation To Cut Electricity Cost By 25-30 Paise Per Unit; Here's How
- The Indian government has eased sulphur emission rules for most coal-fired power plants by restricting the installation of flue-gas desulphurisation (FGD) systems to plants near cities with a population exceeding one million, expected to reduce electricity costs by 25-30 paise per unit.
- Plants in critically polluted areas or non-attainment cities will be evaluated case-by-case while 79% of India's thermal power capacity is exempt from mandatory FGD installation.
- Studies by various institutions found that ambient sulphur dioxide levels in India are within air quality standards, questioning the need for a universal FGD mandate.
- The relaxed norms are anticipated to lower electricity costs, benefiting consumers and aiding in containing tariffs for state discoms while maintaining focus on environmental protection with a targeted approach.
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Bloomberg Quint
7d
272
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Pregnancy, Prices And Posh Perks: Navigating The Infertility Economy
- Infertility poses financial challenges along with medical and physical tolls, such as the high costs of treatments like IVF.
- Nearly one in six couples globally face challenges when trying to conceive, with a growing fertility industry in India.
- IVF treatments in India cost an average of Rs 2 lakh for 1.5 attempts, making affordability a key concern.
- Corporate insurance programs are starting to cover fertility treatments, but affordability remains an issue for many.
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Guardian
7d
352
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UK government announces £63m funding for EV charging infrastructure
- UK government announces £63m funding for EV charging infrastructure to make it easier and cheaper to purchase electric cars.
- The funding includes £63m for EV charging and plans for a £700m subsidy package to reduce electric car costs.
- Subsidies may prioritize UK-made EVs with a focus on more affordable models, potentially excluding premium vehicles.
- Government aims for 28% of new car sales to be electric this year, while investing £2bn in technologies to support domestic EV manufacturing.
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HinduBusinessLine
7d
128
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Digital infrastructure transforms India's tax administration, refunds surge 474%
- India's tax administration has witnessed a remarkable 474% surge in refunds issued to taxpayers from 2013-14 to 2024-25.
- Gross direct tax collections also increased by 274% during this period, showing a substantial growth in tax-related activities.
- The average time to issue tax refunds has drastically reduced from 93 days to 17 days, thanks to the implementation of digital modernization efforts.
- The adoption of digital infrastructure, including online filing systems and automated refund processing, has not only expedited processes but also led to an increase in taxpayer participation and compliance.
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Bloomberg Quint
7d
103
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Mercedes-Benz India Mulls Price Hike By 1-1.5% In September
- Mercedes-Benz India plans to hike prices by 1-1.5% in September to offset the impact of a weak rupee against the euro.
- This will be the third price increase this year, following hikes in January and July.
- The company's MD and CEO, Santosh Iyer, mentioned that the price hike aims to counterbalance the currency fluctuations and is expected to range between 1-1.5%.
- Despite the potential price hike, Iyer noted that reduced interest rates are helping to balance the impact on buyers' equated monthly instalments, with around 80% of new car sales being financed.
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Bloomberg Quint
7d
166
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'Shooting Oneself In Foot': Chinese Embassy Calls Tibet Issue 'Thorn' In India-China Ties
- The Chinese Embassy in India referred to the Tibet issue as a 'thorn' in Sino-Indian relations, cautioning against using the Tibet card.
- The embassy spokesperson emphasized that the reincarnation and succession of the Dalai Lama is an internal affair of China, urging non-interference by external forces.
- China stated that India has political commitments and recognizes Tibet as part of Chinese territory, not permitting Tibetans in India to engage in anti-China political activities.
- The debate over the successor of Dalai Lama has sparked tensions, with China asserting that the selection must be approved by its government.
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HinduBusinessLine
7d
1.2k
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Rossell Techsys eyes bigger play in India after global wins
- Rossell Techsys has significantly expanded its customer base over the years, adding 35 new customers, including Fortune 500 companies, resulting in strong growth and an increased workforce.
- The company has diversified its geographical footprint with engagements in Europe, India, and Israel, moving away from its previous focus on the U.S.
- In FY24, Rossell Techsys recorded revenue of ₹260 crore with strategic agreements valued at ₹2,800 crore and confirmed purchase orders of ₹800 crore, indicating strong revenue visibility.
- Rossell Techsys is focusing on expanding its presence in the Indian market, working with key domestic players, and diversifying into sectors beyond aerospace and defense, such as space, energy, and semiconductors.
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Bloomberg Quint
7d
245
'EMIs For Nursery': CoinSwitch Co-Founder Flags Rising School Fee Dilemma Of Middle-Class Parents
- CoinSwitch co-founder Ashish Singhal highlighted the issue of skyrocketing school fees in India, with some parents paying exorbitant amounts even for primary grade classes.
- Singhal shared his shock at discovering parents in Bengaluru paying around Rs 2.1 lakh per year for Class 3 at regular CBSE schools, causing financial strain on middle-class families.
- Education costs have risen significantly, far exceeding salary increases, with families resorting to taking out EMIs just to afford nursery or primary school fees, impacting their ability to save for the future.
- The widening gap between school fees and family incomes is forcing many parents to cut down on expenses or dip into savings, leading to financial stress and an erosion of savings and peace of mind.
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HinduBusinessLine
7d
299
Image Credit: HinduBusinessLine
To overcome skilled driver shortage, VRL Logistics ventures into hinterland to hunt for potential drivers
- VRL Logistics is venturing into hinterland areas to find potential drivers in response to the acute shortage of skilled drivers in the surface transport industry.
- The company employs over 22,000 individuals, including drivers and mechanics, and provides full-time employment with benefits and training programs.
- Chairman Vijay Sankeshwar highlighted challenges faced by the company, such as driver shortages, unhealthy competition, and external disruptions, and emphasized cautious fleet expansion.
- In FY25, VRL Logistics revised pricing policies, rationalized freight rates, added new vehicles, and reported a 10% increase in revenue along with a significant jump in net profit.
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