July exports at almost the same level as the last year’s: India’s commerce minister Piyush Goyal

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Exports may be on a path of recovery with the merchandise sent to foreign nations in July reaching almost the same levels as a year ago, Commerce and Industry Minister Piyush Goyal said to the media. “Our exports have almost reached last year’s July level, with nearly 90 per cent of our export of July […]

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India’s mountains of plastic waste grow as pandemic disrupts fledgling recycling firms

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It was only about a year ago that Nikhel Morris and his wife Somali Kothari quit their city jobs to plunge into a venture close to their hearts — recycling plastic and rubber wastes into fuel. It made perfect sense as India imports the majority of its fuel needs. At the same time the country struggles to recycle plastic and rubber […]

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Mysteel Global – China’s coal consumption cap at 4.2 billion tonnes by 2025

In its latest draft for China’s coal industry development strategy, the China National Coal Association (CNCA) proposes to limit the country’s total coal consumption within 4.2 billion tonnes by 2025 on the assumption that coal will remain China’s core energy generation source, while the proportion of clean energy will incline further in the coming years. […]

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Taxation on petrol and diesel in India rise threefold, little correlation with crude oil prices: CARE Ratings

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Petrol and diesel prices in India have continued to rise, despite 25-33 on-year percent fall in international crude oil prices, widening the divergence between retail fuel prices in India and crude oil prices across the globe. Between the centre and the states, the governments are collecting a whopping 204 per cent taxes on the base […]

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Indian government to approve commercial mining for firms from neighbouring countries

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The government of India clarified through a Press Note that any foreign direct investment (FDI) in commercial coal mining from an entity of a country that shares land border with India will be allowed only after government approval.  “This is with reference to the ongoing auction process of coal mines for commercial coal mining…It is […]

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Indian Oil to invest Rs 13,805 crore to set up new plant in Odisha’s Paradip for textiles

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Indian Oil Corporation Ltd (IOCL) is planning to invest Rs 13,805 crore to set up a plant in Odisha’s Paradip to manufacture raw materials for the textile sector. The project is expected to be completed by 2024. The paraxylene (PX) and purified terephthalic acid (PTA) plant will be integrated with the IOCL’s refinery facility in the port town of Jagatsinghpur district. […]

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