Indian industry welcomes government’s Diwali economic stimulus package

Indian industry welcomed a raft of economic stimulus measures announced by the Finance Minister Nirmala Santhanam on Thursday that are aimed at reducing imports and establishing the nation as a global hub for manufacturing. The boost was provided through a 12-point programme that included providing incentives to farmers through a massive fertiliser subsidy, fiscal incentives for […]

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India announces 12-point boost for economy to add to festival cheer

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Indian Finance Minister Nirmala Sitharaman on Thursday announced financial outlays for 12 sectors, including a fertiliser subsidy as well as those for housing and infrastructure that will likely drive demand for key commodities. She said the announcement was the third instalment of Atma Nirbhar Bharat (Self Reliant India) programme that was meant to establish the country […]

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India’s Transport Minister urges vehicle makers to give fillip to electric battery manufacture

India’s Transport Minister Nitin Gadkari urged the domestic automobile industry to take the initiative in making electric car batteries in the country in order to give a fillip to electric vehicle manufacturing and usage in the country. The South Asian nation is the world’s fourth-largest automobile market and second-largest for two-wheeler vehicles, but despite government incentive programs lags […]

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Comment – Biden’s slim advantage in U.S. poll spooks oil markets

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With a closely-fought election edging slightly towards Democrat nominee Joe Bien, crude oil prices are edging downwards in anticipation of more fuel supplies reaching global markers. On Thursday, Brent crude fell 0.4% to $41.06 a barrel and West Texas Intermediate down 0.7% to $38.87 a barrel. A Biden administration is seen as less bullish for […]

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India planning to introduce production-linked incentives for chemicals, agrochemicals

India is planning to soon introduce a Production Linked Incentive (PLI) programme for its chemicals and agrochemicals sector, similar to one that it has introduced earlier this year for mobile phone makers, Mansukh Mandavia, minister for chemicals said on Thursday. “We will reform all rules and regulations to give a boost to the Make in India […]

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