MODERNISING INFRASTRUCTURE
Transforming India's power grid: Highlights from the Transmission & Distribution Conclave 2024
The conclave that took place at KSH Infra Park in Pune, Maharashtra on June 13, brought together industry leaders, experts, and enthusiasts to explore the transformative possibilities within the transmission and distribution industry.
Cannot avoid market momentum but be a little more selective: Mayuresh Joshi
The entire ecosystem will see accelerated investments and the government push through regarding the capex needs. Also, railways as a theme, defence as a theme, and shipbuilders as a theme will continue. Execution is going to be extremely important out here, says Mayuresh Joshi. He further says the earnings story and earnings growth should continue to remain strong in select domestic-focused sectors
JSW Steel USA to invest USD 110 mn to modernise plate mill in Baytown, Texas
JSW Steel USA invests in modernising steel plate mill in Texas to support US offshore wind energy expansion, aiming to reduce import reliance and promote clean energy for 10 million homes.
Messe Stuttgart India, Indian Navy collaborate to modernise pan-India logistics infrastructure
Messe Stuttgart India partners with Indian Navy to enhance national logistics infrastructure by connecting with LogiMAT India exhibitors, facilitating solutions to Navy's logistics needs. The Indian Navy plans to engage with leading exhibiting organisations to adopt strategic solutions. After the success of LogiMAT India 2024, preparations are underway for LogiMAT India 2025, aiming for an impactful event with over 200 exhibitors and 15,000+ visitors, driving innovation in India's logistics sector.
Economists expect big-bang reforms to continue under Modi 3.0
Modi is set to be sworn in for third term as India's Prime Minister in coalition government with key partners Telugu Desam Party and Janata Dal (United). Economists anticipate focus on economic reforms to achieve goal of Vikshit Bharat by 2047. Budget to prioritize infrastructure, manufacturing, and welfare schemes amid global economic challenges.
Army chief visits Thal Sena Bhawan construction site; complex to be completed by Jun 2025
Army Chief Gen Manoj Pande visited the Thal Sena Bhawan construction site at Delhi Cantonment, set to complete by June 2025. Initiated in March 2023, the project focuses on modern infrastructure and sustainability, featuring green initiatives like tree transplantation, compensatory planting, and eco-friendly materials. The complex aims to be net-zero with facilities for composting, sewage treatment, solar energy, and EV charging. Additionally, Gen Pande inaugurated a 400-bed state-of-the-art barrack completed in one year. The eight-storey HQ building aligns with the Central Vista redevelopment, costing approximately Rs 760 crore.
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Unbearable heat forces Delhi consumer court to adjourn case
A local consumer court in New Delhi faced unimaginable conditions due to lack of infrastructure and basic amenities, highlighting the urgent need for modernisation to ensure proper functioning and working conditions.
Delhi HC launches free Wi-Fi facility on its premises to provide access to legal resources
The Delhi High Court introduced free Wi-Fi across its premises to enhance access to legal resources for advocates, litigants, and the public. The move aims to modernise judicial infrastructure and improve efficiency. The Wi-Fi facility, launched by Acting Chief Justice Manmohan, is available in various blocks and areas. Additionally, the court unveiled initiatives including a new website and a virtual tour.
Post-COVID, China is back in Africa and doubling down on minerals
Chinese overseas investment, with a focus on minerals extraction in Africa, is rebounding post-pandemic. However, the relationship remains extractive, not fully aligned with the Belt and Road Initiative's goals outlined by President Xi Jinping.
India eyes more Chabahar-like pacts: Ports Minister Sarbananda Sonowal
Sarbananda Sonowal, Union Minister of Ports, Shipping, and Waterways, stated that India aims to replicate the Chabahar port model in other strategic locations in the region to acquire additional assets. In an interview with ET, he emphasized that India is actively investigating opportunities to bolster its maritime presence and trade connectivity.
K2 Infragen gets Rs 90 cr railway order in UP
EPC company K2 Infragen has won a Rs 90 crore railway bridge project in Chandauli, Uttar Pradesh. The project, awarded by the UP-State Bridge Corporation Ltd, involves constructing a four-lane rail over bridge on the Patna-Mughalsarai section. K2 Infragen expects the project to contribute Rs 35 crore to its revenues for fiscal year 2024-2025.
PM's active role, personal monitoring responsible for infrastructure sector turnaround, says FM
Nirmala Sitharaman praises PM Narendra Modi for reviving the infrastructure sector, highlighting the neglect during the UPA regime and the significant advancements made under the Modi government, including the expansion of the Metro network, growth in the aviation sector, and initiatives to boost the maritime ecosystem.
Election trade? These 5 themes will continue to work out in India:Ajay Srivastava
Ajay Srivastava, CEO of Dimensions Corporate, advises investing in ABB, Siemens, IndiGo, Indian Hotels, and Hero Moto if the market falls 30-40%. These companies, known for their performance and economic ties, are recommended. Furthermore, smaller IT firms linked to the BFSI sector show promise. The defense sector, shipyards, QSR companies, multiplex companies, and consumer companies are currently underperforming.
India's bull market based on very fundamental, structural factors: Hiren Ved
I think trying to make event-based decision based on long-term investing is not something that makes sense to us. So, I think we are sitting put. Our positioning is very clear and we are doing none of these like raising cash or trying to change the composition of the portfolio. No, we are not doing any of those things.
REC aims to double loan book to Rs 10 lakh cr by FY30
REC Ltd is targeting a loan book of Rs 10 lakh crore by 2029-30, with 50-60% of the portfolio consisting of conventional power generation, transmission, and distribution projects and 30% focused on renewable energy. The company's assets under management are around Rs 5 lakh crore. The power ministry has projected a need for 85 GW of coal-based power capacity by FY32.
India becoming attractive for clinical trials, says pharma industry leaders
Over the past decade, India has seen significant improvements in its clinical trial landscape, with a 15-18% growth in phase two and three trials. This growth is attributed to 10 modifications to the Drugs and Cosmetics Act since 2013, aimed at simplifying the process. Despite these advancements, conducting trials in India can still be challenging. Experts note that India's modernizing private hospital networks and improved infrastructure make it an attractive location for trials, with potential for further growth and collaboration in the future.
India has taken steps to modernise its military, reduce dependence on Russian arms: US
India's military modernization in 2023 aimed at countering China and reducing Russian equipment reliance. Tensions with China persist post-Galwan clash. Pakistan focuses on nuclear modernization despite economic challenges and increased terrorist violence.
I am a big believer in investment-led growth and that is one big area that we need to sustain: Sanjeev Sanyal
Sanjeev Sanyal emphasizes sustained growth, calling for progress in infrastructure, private sector investment, and administrative reforms. He underscores the need for a modernized legal system and continuous government process re-evaluation to maintain India's positive economic trajectory. Sanyal says: "We need a big process reform agenda which seeps into the whole government process so that we are continuously cleaning up processes, laws and so on and that has to be done in an institutionalised way."
Security and risk management spending in India to increase 12.4% in 2024, says Gartner report
The expected increase comes at a time when organisations are ramping up security spending due to legacy IT modernisation using cloud technology, demand for digital platforms, updated regulatory environment and continuing remote/hybrid work.
Amrit Bharat Station scheme: Here is the list of stations, facilities to be developed under Rs 25,000 crore modernisation project
PM Narendra Modi will lay the foundation stone for modernisation and redevlopment of 553 stations. Spanning 27 states and union territories, the projects, costing upwards of Rs 25,000 crore, aim to transform stations into city centers with modern amenities. These endeavors, emphasizing environmental sustainability and accessibility, mark a significant step in Indian Railways' modernization efforts.
Indian Railways gets 2,000 infra projects at Rs 41,000 crore
Prime Minister Narendra Modi inaugurated over 2,000 railway infrastructure projects worth more than Rs 41,000 crore. This includes the redevelopment of 553 stations under the Amrit Bharat Station Scheme, modernizing passenger amenities, and enhancing connectivity. The Gomti Nagar station in Uttar Pradesh, redeveloped at Rs 385 crore, will be inaugurated, along with the foundation stones for 1,500 Road Under Bridges (RUBs) and Road Over Bridges (ROBs).
Unveiling India's Rs 6.21 lakh crore Defence budget with a dual focus on self-reliance and export boost
Finance Minister Nirmala Sitharaman has unveiled a staggering allocation of Rs 6.21 lakh crore for the Ministry of Defence during the Interim Budget presentation. This marks a 4.3% increase from the previous year, constituting 13.04% of the Union Budget. A key feature is the introduction of the DeepTech Initiative, focusing on cutting-edge technologies for defense. The budget breakdown includes allocations for capital expenditure, defense pensions, and defense services, with a strategic emphasis on digitization, modernization, and self-sufficiency in defense.
PM emphasises importance of Ease of Justice, says simplification and modernisation of laws; use of tech, AI will ensure it
Prime Minister Narendra Modi emphasized the commitment of his government to 'ease of justice' through the Supreme Court. He highlighted the role of technology, such as e-courts, artificial intelligence, and digitalization of verdicts, in contributing to this cause. The prime minister launched the digital Supreme Court Reports (Digi SCR), Digital Courts 2.0, and a new bilingual website for the apex court. He praised the efforts made by Chief Justice of India Justice DY Chandrachud in modernizing courts and expanding access to the highest judicial body.
Atal Setu bridge only the beginning? Modi govt’s ambitious infra push bears fruit
India's Prime Minister Narendra Modi is set to open India's longest bridge, the Atal Setu, in a ceremony to mark the start of his government's infrastructure drive. The five-year, $1 trillion initiative aims to boost jobs and keep up with China and other modernising economies. The bridge, which will cost $2.2 billion, will cut travel time between central Mumbai and Navi Mumbai
Top infrastructure, healthy startup ecosystem, better commute — the ways Bhubaneswar is winning the hearts of small businesses
The capital of Odisha, with its unique landscape and thriving startup ecosystem, is creating a supportive platform for small businesses to rise.
View: Davosmosis, our skis in the game
To take full advantage of emerging technologies, leaders must automate processes, strengthen data foundations, streamline IT infrastructure, adopt a forward-looking approach and, instead of exploring individual trends, consider how these technologies can work together to unlock new possibilities and drive progress.
Rural startups seek improved supply chain, better infra, easier access to funds
With the Budget and the Lok Sabha elections drawing closer, startups working in various sectors, especially in smaller towns and villages, said they expect the government to look at various teething issues, even as their "overall performance has improved owing to various policy changes in the past couple of years".
India must continue on path of modernising soft infrastructure: Luis Breuer of IMF
“Going forward, India must continue down this path to modernise soft infrastructure: reforms in the bond market, expanding investor base, greater participation of the private sector and strengthening the regulation of public banks,” said Luis E Breuer, senior resident representative for India, International Monetary Fund (IMF).
Military reforms undertaken to modernise armed forces: PM Modi
India has gained new strategic strength in recent years and its borders are now more secure than ever, Prime Minister Narendra Modi said on Tuesday even as he highlighted efforts to modernise the military and make it "young and battle ready" to confront future challenges. In his Independence Day address from the ramparts of Red Fort, Modi also reiterated his government's unwavering resolve to ensure national security amid the current global security scenario.
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