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India is poised to become the next major player in the global petrochemicals industry, backed by a planned capital expenditure of USD 37 billion aimed at boosting self-sufficiency, S&P Global Ratings said in a new report. The report, 'First China, Now India: Self-Sufficiency Goals Will Add To Petrochemicals Supply', warns that India's aggressive capacity expansion - following similar moves by China - will intensify oversupply pressures in Asia's petrochemical sector. India, the world's third-largest petrochemical consumer after China and the US, has historically relied on imports to meet domestic demand. But a shift toward self-sufficiency is underway, and S&P expects India to account for a third of global capacity additions by 2030. S&P Global Ratings, in the report, anticipates that India will stick with major investment plans to reduce import dependency on chemicals used in everyday goods, from plastic bags to auto parts. Overcapacity in Asia-Pacific petrochemicals ...
Global factors and FII activity will dictate trends in domestic equity markets this week while assembly poll results of Maharashtra and Jharkhand may impact stocks on Monday, say analysts. Stock markets witnessed a spirited recovery on Friday with benchmark Sensex and Nifty notching the best single-day gains in more than five months and offering relief after weeks of correction. On Friday, Sensex jumped 1,961.32 points or 2.54 per cent to settle at 79,117.11 while Nifty soared 557.35 points or 2.39 per cent to 23,907.25. "On the domestic front, the outcomes of the Maharashtra and Jharkhand elections will be crucial triggers. Especially Maharashtra where NDA witnessed a one-sided victory which is likely to boost bullish sentiment further. However, global factors continue to pose significant risks. Escalating tensions between Russia and Ukraine, alongside rising crude oil prices, have added to inflationary concerns," Santosh Meena, Head of Research, Swastika Investmart Ltd, said. A
Delhi's iconic Sarojini Nagar Market along with Malcha Market and Aliganj Market are set for a major transformation as New Delhi Municipal Council (NDMC) unveiled a major revamp plan. The NDMC Vice Chairman Kuljeet Singh Chahal on Tuesday unveiled plans to redevelop three major markets, including the renowned Sarojini Nagar Market, as part of Phase-I of its urban renewal initiative. The announcement was made during a press briefing where Chahal outlined the council's vision to modernise and improve urban spaces in alignment with the Delhi Master Plan 2021. Sarojini Nagar, famous for its budget-friendly fashion finds, will undergo a complete makeover, with plans to convert the currently mixed-use building into a fully commercial hub. The redevelopment will see the ground floor, first floor, second floor, and part of the third floor dedicated to retail and commercial spaces, offering more room for shoppers and boosting the market's revenue potential, Chahal said. "This revamp aims t