Page 609 - Industry News
Over 50% firms committed to achieving net-zero emission target: PwC survey
According to the survey, nearly 60% of the respondents underlined the need to incentivise Environmental, Social, and Governance (ESG) interventions by the government
 "Over 50% firms committed to achieving net-zero emission target: PwC survey")
Energy conundrum: Govt to double coal production despite climate goals
Later, the power minister Raj Kumar Singh set out plans on Dec. 22 to add 88 gigawatts of thermal power plants by 2032. The vast majority of which will burn coal
 "Energy conundrum: Govt to double coal production despite climate goals")
White collar jobs dip 16% in Dec amid cautious hiring in IT, other sectors
White collar hiring in India witnessed a 16% decline in December compared to the year-ago period due to cautious hiring sentiments in IT, BPO, education, retail and healthcare sectors
 "White collar jobs dip 16% in Dec amid cautious hiring in IT, other sectors")
Indian firms took on larger forex risk in 2023 counting on RBI support
"For us, the drop (in forward hedging) has been bigger, more in the vicinity of 20% to 25%," a senior FX salesperson at a private bank said
 "Indian firms took on larger forex risk in 2023 counting on RBI support")
Indian coffee exports could surge 10%, thanks to global price rally
Coffee exports in 2024 could jump to 298,000 metric tons from last year's 271,420 tons, said a Bengaluru-based dealer with a global trade house
 "Indian coffee exports could surge 10%, thanks to global price rally")
JSW Steel's crude steel output grows 12% to 6.87 MT in October-December
Its consolidated crude steel production was at 6.14 MT in the same period last financial year, according to a statement
 "JSW Steel's crude steel output grows 12% to 6.87 MT in October-December")
Steel industry hopes Budget will focus on infra, fair trade measures
Companies want support for capacity addition and anti-dumping measures against substandard imports
 "Steel industry hopes Budget will focus on infra, fair trade measures")
Steel industry hopes Budget will focus on infra, fair trade measures
Companies want support for capacity addition and anti-dumping measures against substandard imports
Commerce ministry sets up task force to resolve trade issues for exporters
The ministry is also looking at improving mutual recognition agreements (MRAs) with different countries so that product standards are as per the requirements of the importing countries
 "Commerce ministry sets up task force to resolve trade issues for exporters")
Non-compete clause for IT freshers in India unenforceable: Experts
Experts have stated that non-compete obligations are valid only during employment and cannot hinder an employee from joining a competitor post-employment
 "Non-compete clause for IT freshers in India unenforceable: Experts")
Power equipment sector's order book charged up on transmission projects
Between April to December 2023, close to 35 projects worth Rs 60,000 crore were offered under tariff-based competitive bidding
 "Power equipment sector's order book charged up on transmission projects")
Dutch cos to sign 3.6 bn euros worth investment proposals at Gujarat summit
This is the fourth time the Netherlands is joining the summit as a partner country, according to Amlan Bora, Chief Representative for India at the Netherlands Business Support Office
 "Dutch cos to sign 3.6 bn euros worth investment proposals at Gujarat summit")
48 hrs weekly rest, only 2 night landings in rules to avoid crew fatigue
The revision in FDTL regulations is expected to influence flight schedules and may result in certain implications when it comes to operating costs, aviation sources said
 "48 hrs weekly rest, only 2 night landings in rules to avoid crew fatigue")
DGCA confirms satisfactory checks on B737 Max after Alaska incident
Air India Express, SpiceJet, and Akasa Air have 32 operational B737-8 Max aircraft in their fleet in the country. The Indian airlines did not find anything adverse during the inspections
 "DGCA confirms satisfactory checks on B737 Max after Alaska incident")
India Inc seeks tax reforms, R&D incentives in upcoming interim Budget: EY
EY said that no major tax amendments or reforms are expected in the upcoming Budget as evidenced from the previous Interim Budgets of 2009, 2014 and 2019
 "India Inc seeks tax reforms, R&D incentives in upcoming interim Budget: EY")
Passenger vehicles in fast lane: 2024 begins with 75% surge in inventory
2023 saw 11% growth in automobile retail sales, setting the momentum for the year ahead
 "Passenger vehicles in fast lane: 2024 begins with 75% surge in inventory")
SC seeks Centre's reply to plea against levy of 28 % GST on online gaming
The Directorate General of Goods and Services Tax Intelligence has also been asked to respond to the plea within two weeks
 "SC seeks Centre's reply to plea against levy of 28 % GST on online gaming")
UP govt distributes loans worth Rs 1.72 trn in FY24 to boost MSME sector
The MSME advances clocked Rs 1.5 trillion in FY23 against the target of Rs 78,000 crore, proliferating by 191 per cent
 "UP govt distributes loans worth Rs 1.72 trn in FY24 to boost MSME sector")
Indian single malts beat global brands, capture 53% sales in 2023: Report
The top Indian brands, which contributed to this milestone, included Amrut, Paul John, Radico Khaitan's Rampur, Indri, among others
 "Indian single malts beat global brands, capture 53% sales in 2023: Report")
DGCA increases rest time among other reforms to address pilot fatigue
The new reforms include weekly rest periods of 36-48 hours for flight crew, increasing the official "night period" by an hour, and limiting maximum flight time & duty periods to 8 hours and 10 hours
 "DGCA increases rest time among other reforms to address pilot fatigue")