In a landmark move to ease financial pressure on critical government departments, the Union Cabinet has reportedly approved a one-time waiver on over ₹6 lakh crore in spectrum dues, covering penalties and nearly all interest charges. The relief applies to central and state departments such as Defence, Railways, Space, and Broadcasting, but excludes PSUs and…
Union Minister for Road Transport and Highways Nitin Gadkari has declared that India has slashed logistics costs by 6%, a milestone he called “critical to building a $5 trillion, future-ready economy.” Speaking at the ET Edge Supply Chain Management Fest 2025 in New Delhi, Gadkari outlined the government’s multi-pronged strategy to transform India into a…
Lloyds Metals and Energy Ltd (LMEL) has received a major boost with the Ministry of Environment, Forest, and Climate Change granting environmental clearance (EC) to expand its iron ore mining capacity to 55 million tonnes per annum (MTPA)—making it the largest iron ore operation in India. Strategic Expansion in Gadchiroli The expansion pertains to LMEL’s…
In a forward-looking statement that underscores the shifting industrial landscape, Tata Steel Managing Director and CEO T V Narendran has predicted that the recycling industry will outgrow the mining sector by 2050, creating vast opportunities for innovation, sustainability, and economic growth. Speaking at the platinum jubilee celebrations of the Singhbhum Chamber of Commerce and Industry…
In a landmark move to align with India’s climate commitments under the Paris Agreement, the Ministry of Environment, Forest and Climate Change (MoEFCC) has drafted a proposal mandating greenhouse gas (GHG) emission reduction targets for both public sector undertakings (PSUs) and private refineries, as well as the textile industry. This marks the first time these…
In a major push to bolster energy security, the Indian government is planning to establish strategic petroleum reserves (SPRs) at six new locations, aiming to expand the country’s crude oil backup capacity to meet 90 days of emergency demand, according to a report by Mint. New Sites Identified for Strategic Storage The proposed sites include:…
In a powerful message to aspiring business leaders, Reliance Industries Chairman Mukesh Ambani has urged entrepreneurs to prioritize societal impact over personal wealth, emphasizing that true success lies in serving a billion people, not chasing billions in profits. His remarks came during a candid conversation with McKinsey & Company for its Leading Asia series. “If…
An Essel Group entity, Konti Infrapower and Multiventures, has filed a petition with the National Company Law Tribunal (NCLT), Mumbai, against Kotak Asset Management Company (AMC), alleging failure to repay ₹12.99 crore under a 2019 agreement tied to non-convertible debentures (NCDs) backed by Zee Entertainment shares. What Sparked the Legal Battle? The dispute stems from…
The ₹852.53 crore Initial Public Offering (IPO) of Ellenbarrie Industrial Gases Ltd saw a tepid response on Day 2, with an overall subscription of 14% as of June 25, 11:42 AM, according to NSE data. The IPO, which opened on June 24 and closes on June 26, comprises a fresh issue of ₹400 crore and…
Reliance Industries Chairman Mukesh Ambani has unveiled a bold new vision for the conglomerate, declaring its transformation into a deep-tech and advanced manufacturing powerhouse. Speaking in an exclusive interview for McKinsey & Company’s Leading Asia series, Ambani emphasized that Reliance is no longer just a user of technology—it is now a net producer of innovation….
