Industry News
Adani Ports Shine in World Bank's Global Container Port Performance Index
Ashwani Gupta, CEO and whole time director of APSEZ, expressed an overwhelming feeling and said that he felt proud of not only the continuous effort of his team but also the unwavering commitment shown by the company toward doing something extraordinary in customer service. The CPP Index is the index of repute which grades the port on parameters such as productivity, efficiency, and reliability; it makes for a very important source of reference for all stakeholders like governments, port authorities, development agencies, and private operators in trade, logistics, and supply chain services.
Government to Kick Off 10th Round of Commercial Coal Block Auctions Next Week
This means that coal extracted from these blocks can be sold directly in the open market by producers. The government began the commercial coal block auction process in June 2020. Over nine auction rounds, the Ministry of Coal has successfully auctioned 107 coal blocks, boasting a peak rated capacity of 256 million tonnes (MT). To date, 11 of these commercial coal blocks are operational. Last year, commercial blocks produced 17.5 MT of coal.
Ambuja Cements Expands Footprint with Rs 10,422 Crore Acquisition of Penna Cement by Adani Group
Funded internally, the acquisition is anticipated to increase Adani Cement's market share by 2% nationwide and by 8% specifically in south India. Ajay Kapur, CEO and Whole Time Director of Ambuja Cement, expressed that this acquisition marks a milestone in their growth trajectory, positioning Ambuja as a leading player across India's cement industry.
March Sees 4.9% Growth in India's Industrial Production
The manufacturing sector, a key provider of employment opportunities for recent graduates from the country's universities and engineering institutes, experienced a growth rate of 5.2 percent during the month.
March Sees Core Sector Industries Surge by 5.2%
Indeed, cement produced turned out to be a star performer, increasing by a remarkable double-digit growth of 10.6 percent, driven by increased demand from major infrastructure projects and a rebounding real estate sector. Steel production also increased by 5.5 percent in the period.
Unveiling the Dominance of 'Underdog' Founders in the Global Unicorn Landscape: Insights from a Recent Report
Surprisingly, the study uncovered that a staggering 70% of unicorns have founders who fit the underdog archetype, such as immigrants, women, and individuals from diverse racial backgrounds. This marks a significant departure from the traditional narrative dominated by male founders, with a noteworthy 17% of unicorns featuring female founders in 2023, as reported by TechCrunch.
Government Plans Auction of 20 Mining Blocks for Critical Minerals in the Next 2 Weeks
The government has recently identified a list of critical minerals, such as lithium, cobalt, and titanium, essential for advanced technology sectors like electronics, telecom, transport, and defense.
DRI Conducts Searches at Havells India Office
Havells India confirmed that the search operation was carried out by the DRI, an agency responsible for curbing smuggling and investigating cases of commercial fraud.
Debt collections SaaS platform Credgenics raises $50 mn
“With these resources, we can extend our innovative debt recovery solutions to new markets, empowering individuals and businesses worldwide to regain control of their loan collections,” said Rishabh Goel, Co-founder and CEO, Credgenics. Since its launch in 2019, Credgenics has seen 7 times growth rate.
India's core sector output rises 8.2% in June
The production of all other industries, namely, steel, coal, cement, refinery products, natural gas, fertilisers, and electricity, went up in June 2023, according to data released by the Commerce Ministry. The eight core industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).
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