September 15: Snapshot for the Day
September 15: Snapshot for the Day
Engineers stand inside an oil field in Gujarat
Oil ministry of India brushed off a report it could bar companies with funding from China, Pakistan or Bangladesh from bidding for exploration licences as relations with these neighbours remain sensitive.
"We have no such information," Oil Secretary S Sundareshan told reporters, when asked about a report in Mint that the government had barred such companies from participating after a request from the defence ministry.
Neighbouring economic powerhouses India and China have repeatedly sparred diplomatically over last two years despite bilateral trade that has grown 30-fold since 2000.
Last week, Manmohan Singh warned that China, our main rival for regional resources, was seeking to expand its influence in South Asia at expense of India.
India aims to launch the next round of licensing for oil and gas blocks in the third quarter, the oil ministry said in June.
An employee is seen inside a showroom of Tata Motors in Hyderabad
Tata Motors Ltd said on Wednesday its global vehicle sales in August rose 29 per cent from a year earlier to 85,114 units.
Jaguar and Land Rover sales in the month rose 29 per cent to 16,220 units, it said in a statement.
The company, India's biggest truck maker, also makes utility vehicles and cars, including the world's cheapest car Nano.
A farmer harvests a rice paddy crop on the outskirts of Agartala, Tripura
Jagdish Vaghela is one of thousands of farmers standing in the way of breakneck economic expansion of India.
Determined not to give up his land for an industrial park in Gujarat, the 55-year-old farmer scorns at talk of how the benefits of industrialisation in third-largest economy of Asia will trickle down to people like him.
Despite a nearby plant producing the cheapest car, he pointed to a water-logged track leading to his village. "What is this development they are talking about? Look, the road is completely flooded," Vaghela said.
"I will not give my land away. We have no other jobs"
As India industrialises rapidly, resistance from farmers and rows over acquisition of farmland for industry have become a sensitive issue in a country where 2/3 of the 1.2 billion population is dependent on agriculture.
Farm income is declining, his crops have
Maintenance engineers work on top of a power generating wind turbine at Suzlon wind farm in Surajbari village, about 275 km (171 miles) west of Ahmedabad, December 14, 2009. China will make up about a third of Indian wind turbine maker Suzlon Energy Ltd's total business by 2015, its chief Tulsi Tanti said helped by Beijing's strong incentives to promote clean energy.
"We expect at least 30 per cent of the group's revenue has to come from China, we should achieve that in five years," Tulsi Tanti said in an interview.
We strongly believe the wind turbine business in China is strategically important for us, Tanti said on the sidelines of the World Economic Forum in northern port city of Tianjin.
China accounts for about 10 per cent of the group's total revenue.
Research by China Wind Energy Association has projected that China would expand its wind power installed base by between 108 GW and 132 GW by 2020.
A miner stands at a coalmine in Chhattisgarh
India will stand by plans to make mining firms share 26 per cent of profits with local people, Mines Minister B K Handique said on Wednesday, despite opposition from companies.
Violent attacks by Maoist rebels and stiff criticism from locals over land acquisition has spurred the government to go ahead with a new bill which will force mining firms to share profit or equity with locals.
But mining firms have opposed the government initiative, as they say the new measures could hurt profits and deter firms from making fresh investments.
"We are not going to reduce it," Handique said in answer to a question on whether the government would consider lowering the amount mining firms would have to share with locals.
Customers look at gold bangles inside a jewellery shop in Hyderabad
India gold futures struck a fresh record high of Rs 19,250 per 10 grams on Wednesday afternoon, tracking gains in overseas markets, breaching the earlier peak of Rs 19,230 struck on Tuesday.
The contract trading ended at Rs 19,222 at market close.
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