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India is poised to become the World's second-largest solar market in 2026 in terms of annual installation, the National Solar Energy Federation of India (NSEFI) said on Wednesday. India has achieved its fastest-ever addition of 50 GW of solar capacity in just 14 months, reaching the landmark 150 GW milestone, according to an NSEFI statement. This marks a significant acceleration compared to the 11 years it took to reach the first 50 GW, followed by nearly three years to scale up to 100 GW. NSEFI CEO Subrahmanyam Pulipaka said that solar energy is projected to reach 280300 GW to support India's 500 GW non-fossil capacity target by 2030. With the current pace, India is nearing an annual addition trajectory of 50 GW, firmly aligning with this goal. In fact, the country is witnessing strong potential for solar capacity to exceed these projections, driven by initiatives such as PM Surya Ghar, the upcoming PM KUSUM 2.0, dedicated floating solar policies, and the growing demand linked to
India's crude oil purchases from Russia more than tripled to 5.3 billion euro in March as volumes doubled and a surge in oil prices pushed up the import bill. European think tank Centre for Research on Energy and Clean Air (CREA), in a report, said after a drop in purchases in February, India was back to a buying binge in March. "India was the second-highest buyer of Russian fossil fuels in March 2026, importing a total of EUR 5.8 billion of Russian hydrocarbons. Crude oil products constituted 91 per cent of India's purchases, totalling EUR 5.3 billion," it said. Coal (EUR 337 million) and oil products (EUR 178.5 million) constituted the remainder of their monthly imports. In February, India was the third largest importer, purchasing Russian hydrocarbons worth 1.8 billion euro. Crude oil constituted the largest share at 81 per cent (EUR 1.4 billion), followed by coal (EUR 223 million) and oil products (EUR 121 million). "While India's total crude imports recorded a 4 per cent ...
The war in West Asia may have adverse implications for the Indian automotive industry and could pose near-term challenges for the sector, having an indirect impact on vehicle demand, Society of Indian Automobile Manufacturers President Shailesh Chandra said on Tuesday. While the automobile industry concluded the 2025-26 year from a position of strength, developments arising from the ongoing West Asian conflict pose certain risks, he told reporters here. "Recent uncertainties arising from the West Asia conflict need to be closely monitored. The evolving geopolitical situation may have adverse implications for automotive production, input and commodity prices, fuel prices and freight rates, which could pose near-term challenges for the industry and may also indirectly impact the demand requirement," he said. Sharing an update on the current situation faced by the domestic auto industry, Chandra said, "Supply disruptions have led to shortages of propane and ethylene, critical inputs
Two major employee associations of the Income Tax Department have written to the government stating that they would resort to a graded agitation schedule beginning April 16 if their "long pending" issues and "precarious" working conditions are not resolved. The Joint Council Action (JCA), comprising the Income Tax Employees Federation (ITEF) and Income Tax Gazetted Officers' Association (ITGOA), represents about 97 per cent of the department's workforce that works to collect revenue for the government under the direct tax category. Officers from the Indian Revenue Service (IRS) constitute the third association, and they lead the department as heads of various verticals. The JCA, in its letter dated April 6, to the Revenue Secretary under the Union Finance Ministry, said that the forum was approaching his office with its ten-point grievances due to the "persistent apathy" of the Central Board of Direct Taxes (CBDT) in resolving these issues. The CBDT frames policy for the tax ...
US-born Pope Leo XIV pushed back Monday on President Donald Trump's broadside against him over the US-Israel war in Iran, telling reporters that the Vatican's appeals for peace and reconciliation are rooted in the Gospel, and that he doesn't fear the Trump administration. "To put my message on the same plane as what the president has attempted to do here, I think is not understanding what the message of the Gospel is," Leo told AP aboard the papal plane en route to Algeria. "And I'm sorry to hear that but I will continue on what I believe is the mission of the church in the world today." History's first US-born pope stressed that he was not making a direct attack against Trump or anyone else with his general appeal for peace and criticisms of the "delusion of omnipotence" that is fuelling the Iran wars and other conflicts around the world. "I will not enter into debate. The things that I say are certainly not meant as attacks on anyone. The message of the Gospel is very clear: Bless
State-owned NBCC Ltd has entered into an MoU with HUDCO to redevelop August Kranti Bhawan in the national capital. In a regulatory filing on Monday, NBCC said it has entered into two different Memorandums of Understanding (MoUs) with Housing and Urban Development Corporation Limited (HUDCO). The first MoU relates to the redevelopment of August Kranti Bhawan, Bhikaji Cama Place, New Delhi. HUDCO and NBCC have agreed to collaborate and jointly work towards the redevelopment of leasehold plot admeasuring 18830 square metre. NBCC would do techno-economic feasibility study, construction and project management and monetization of built-up space. Under the second MoU, HUDCO will provide funds for the ongoing and upcoming projects of NBCC's self-sustainable model. NBCC is into project management consultancy and real estate business.
The Rajya Sabha will hold the election for the post of deputy chairman on April 17, and the ruling NDA is likely to push for re-electing Harivansh to the key post. The post of the deputy chairman of the Rajya Sabha fell vacant after the tenure of Harivansh ended on April 9. Harivansh has since been nominated to the Upper House by President Droupadi Murmu and took oath on April 10. Union minister and BJP leader J P Nadda, who is also leader of the house in Rajya Sabha, is learnt to have discussed the re-election of Harivansh as deputy chairman with leaders of various parties, while trying to bring about a broad consensus on his name. However, the Congress, TMC and Left parties have raised objections to the "keenness" the ruling party is showing in holding elections for filling the post of deputy chairman of the Upper House, when the post of deputy speaker in Lok Sabha has been vacant since 2019. An official announcement said that the election for the post of deputy chairman will be
Private sector companies' investments in bonds and debentures shot up manifold in FY25, the Reserve Bank said on Monday. Analysis of 15,919 non-government, non-financial private companies by the central bank revealed that such entities invested Rs 35,981 crore in bonds or debentures in 2024-25, as against just Rs 224 crore in the year-ago period. During this period, corporate bond issuances increased to Rs 9.87 lakh crore in FY25, compared to Rs 8.38 lakh crore in the previous fiscal year. The yield on these instruments remained broadly in the range of 6.5-15 per cent across maturities and ratings on the BSE and NSE electronic bidding platform. Indian bond market has seen a sharp investment by the foreign investors, specifically in the government securities market after the JP Morgan announced the G-sec inclusion in to their index. The announcement came in the second half of FY24, and the actual inclusion happened in June 2024. Further, another inclusion by Bloomberg Bond Index ..
Regional airline Star Air on Monday announced it will launch services to Mundra with 38 direct weekly flights, linking the port city to six key cities across Western and Northern India, starting April 25. With over 17,000 additional seats now available each month, the move will boost air connectivity and economic growth in the region, Star Air said. The expansion sees Mundra directly linked to Mumbai, Hindon (Delhi-NCR), Goa (Mopa), and Surat, it said and added that in addition to the 38 direct weekly flights, the airline will also introduce 16 weekly one-stop connections, strengthening ties with Kolhapur and Bhuj and further supporting the region's workforce and entrepreneurs. With an additional 4,104 seats available weekly and 17,000 seats monthly, Star Air's expansion is set to drive new growth in business, trade, and tourism throughout Gujarat and beyond, it said. Star Air said it will deploy its Embraer E175 fleet featuring both business and economy class to operate services o
Oil Marketing Companies (OMCs) in Telangana on Monday said the availability of petrol, diesel, and Liquefied Petroleum Gas (LPG) in the state is sufficient to meet current demand. OMCs have prioritised domestic LPG distribution, ensuring uninterrupted and timely delivery of cylinders, an official release said. Currently, approximately 2.18 lakh domestic LPG cylinders are being delivered daily in Telangana, as against 2,15,151 cylinders per day before the West Asia military conflict began, indicating a stable and robust supply system, it said. Demand for petrol and diesel has moderated and is now comparable to pre-war levels. LPG refill bookings have also declined significantly, as panic-driven bookings by consumers have reduced considerably, it added. According to the State-level Coordinator for OMCs, public sector oil companies are closely monitoring the supply situation and have undertaken necessary measures to streamline logistics and expedite deliveries. "OMCs are in continuou
Net sales of non-financial private companies increased at a slower pace of 11.4 per cent in 2024-25 as compared to 11.7 per cent in the previous year, according to Reserve Bank data released on Monday. The RBI released data relating to financial performance of non-government non-financial (NGNF) private limited companies during 2024-25 based on audited annual accounts of select 15,919 companies reported in the Indian Accounting Standards (Ind-AS) format. Services sector recorded 13.5 per cent growth in net sales during 2024-25, driven by 'Trade -- wholesale & retail', 'Real Estate' and 'Transport and Storage services' sub-sectors. Sales growth in the manufacturing sector moderated marginally to 9.2 per cent in 2024-25 from 9.4 per cent in the previous year. Total paid-up capital (PUC) of these companies amounted to Rs 8,44,198 crore as at end-March 2025, which covered 40.3 per cent of the total PUC of NGNF private limited companies. At the aggregate level, operating expenses ...
A federal judge dismissed President Donald Trump's $10 billion defamation lawsuit against the Wall Street Journal and Rupert Murdoch on Monday over a story on his ties to Jeffrey Epstein. US District Judge Darrin P. Gayles in Florida wrote in the order that Trump had failed to make the argument that the article was published with the intent to be malicious, but gave the president a chance to file an amended complaint. Trump filed the lawsuit in July, following up on a promise to sue the paper almost immediately after it put a new spotlight on his well-documented relationship with Epstein by publishing an article that described a sexually suggestive letter that the newspaper said bore Trump's signature and was included in a 2003 album compiled for Epstein's 50th birthday. The letter was subsequently released publicly by Congress, which subpoenaed the records from Epstein's estate. The ruling marks yet another blow in the Trump administration's efforts to manage fallout over its rele