Govt plans to lease strategic oil reserve space to private companies
About 0.75 mmt of capacity in Mangalore and about 0.25 mmt in Visakhapatnam is currently vacant and needs to be filled, L R Jain, the CEO of Indian strategic Petroleum Reserves Limited (ISPRL), said on Tuesday. Key Points
Economic TimesInterim Budget 2024: What is a strategic sale? How is it different from disinvestment?
Interim Budget 2024: The government has set a ₹51,000 crore disinvestment target for 2023-24, a 21% drop from the prior year. strategic disinvestment involves selling over 50% of government shares in Central Public Sector Enterprises (CPSE) and transferring management control. This policy aims to raise funds for social programs and inject private capital and technology into CPSEs. Additionally, strategic disinvestment allows private sector participation in select CPSEs like Bharat Petroleum Corporation Ltd. and Air India. Key Points
Economic TimesIndia and US launch strategic trade dialogue
During the meeting, the two sides reviewed the relevant bilateral export control regulations with the objective of building and diversifying resilient supply chains for these strategic technologies. They reviewed ongoing cooperation in multilateral export control regimes and agreed to share the best practices. Key Points
Economic TimesIndian Army turns to ancient texts to prepare for wars of the future
The Indian Army has launched Project Udbhav to tap into ancient Indian wisdom in statecraft, strategy, diplomacy, and warfare. In collaboration with the United Service Institution of India, the Army Training Command conducted a seminar on the evolution of Indian military systems and strategic thought. Key Points
Economic TimesIt's important to de-risk global economy in era of volatility and uncertainty, says S Jaishankar
External Affairs Minister S Jaishankar has said that the India-EU Trade and Technology Council (TTC) is a significant milestone in the strategic partnership between India and the European Union. The meeting, co-chaired on the Indian side by Jaishankar, Commerce and Industry Minister Piyush Goyal and Communications, Electronics and IT Minister Rajeev Chandrasekhar, covered key focus areas of strategic technologies, digital governance and green energy technologies. Key Points
Economic Times
'Angel tax' shield for buyers of PSU shares during selloff
India has granted relief from its angel tax for buyers of shares in public enterprises that were strategically divested for below the fair market value. The Central Board of Direct Taxes has amended the Income Tax Rules to except from any close scrutiny by tax authorities movements in equity shares of a government company received by a person who was involved in strategic disposal in the public sector, including overseas buyers, who may have paid a lower book value than the actual value. Key Points
Economic TimesGovt scraps sale of Salem steel plant; third unit of SAIL whose privatisation put on hold
New Delhi, Jan 3 (PTI) The government on Wednesday said it has decided to scrap the privatisation of SAIL’s Salem Steel Plant (SSP) in Tamil Nadu. This is the third unit of public sector major SAIL where the government has decided not to go ahead with the strategic sale. Earlier in 2019, it decided to […] Key Points
ThePrintIndian businesses need to stop looking for China fix: S Jaishankar
Indian External Affairs Minister S Jaishankar has called on Indian businesses to stop seeking a China solution while highlighting the strategic importance of the Make in India programme in boosting the country's manufacturing sector. Speaking at the release of Amitabh Kant's book Made in India: 75 Years Of Business and Enterprise, Jaishankar noted that the domestic change brought about by a robust manufacturing sector was essential for sustainable economic growth. Key Points
Economic TimesKeep China in mind, follow teaching of Mahabharata, Krishna: CDS Anil Chauhan's advise on diplomacy
Chief of Defence Staff, General Anil Chauhan, has emphasized the need for India to consider China's growing assertiveness in its strategic planning. He highlighted the importance of India's strategic autonomy policy and the transition from a non-alignment approach to becoming a friend to the world. He also discussed the economic aspects of geopolitics and the influence of factors like morality and convergence of global interests. Key Points
Economic TimesPM Modi's U. S. visit to bolster strategic collaboration: India Inc.
Prime Minister Narendra Modi’s US visit will boost bilateral ties and deepen strategic technology collaboration in areas like defence, semiconductor, space and artificial intelligence, India Inc. said on Saturday. Key Points
The Hindu
PM Modi’s U.S. visit to bolster strategic collaboration, says India Inc
Prime Minister Narendra Modi’s U.S. visit will boost bilateral ties and deepen strategic technology collaboration in areas like defence, semiconductor, space and artificial intelligence, India Inc said on June 24. Key Points
The HinduUdbhav: How Indian Army plans to blend ancient wisdom from Ashoka to Shivaji with modern warfare
While some critics question its relevance in today's digitized battlefields, the Defense Ministry and Army remain enthusiastic. Project Udbhav seeks to integrate ancient wisdom, such as the Arthashastra and Thirukkural, with contemporary military practices. It also emphasizes the study of prominent leaders and battles of the past. The initiative will serve as the foundation for indigenous strategic developments and a future-ready Indian Army. Key Points
Economic TimesONGC, GAIL explore possibility of setting up strategic gas reserves
The government has been considering the plan over the past few years. However, given the critical technical and infrastructure issues involved, the plans have so far not taken a concrete shape. Key Points
mintIt's important to de-risk global economy in era of volatility and uncertainty: Jaishankar
In the era of volatility and uncertainty, it’s important to de-risk the global economy and yet to ensure that there is very responsible growth, External Affairs Minister S. Jaishankar has said. His remarks came following the first meeting of the India-EU Trade and Technology Council (TTC) held in Brussels on Tuesday. Key Points
The HinduMyntra appoints Venu Nair as Chief of strategic Partnerships and Omni Channel
Nair comes with an experience of over 30 years in retail, sourcing, business analysis and strategy. He has joined Myntras senior leadership team where he will be responsible for strengthening Myntras existing international brands portfolio, while building strategic partnerships with leading global brands and will also be managing omni channel strategy for brands. Key Points
Economic Times
PM Modi to be guest of honour for French military parade - What is Bastille Day?
Indian Prime Minister Narendra Modi will be the guest of honour at France's Bastille Day celebrations. The visit comes mere days after he attended a state dinner at the US White House. France and India are likely to pursue strategic and economic links in a bid to counter China's influence. Key Points
mintGlobal trade fairs on cards; sectoral targets for $1 trillion exports by ’30
Officials said investment promotion arm Invest India, which is also drawing up the countrys trade strategy, has identified 100-odd companies across 30 sectors and 30 countries, and around a 100 more being shortlisted as part of the strategic Investment Targets Initiative. Besides, sectoral targets have been set for $1 trillion goods exports by 2030. Key Points
Economic TimesParry Enterprises ties up with Memsift Innovations to set up membrane unit
Parry Enterprises India Ltd, (PEIL) has entered into a strategic partnership with Singapore-based Memsift Innovations to establish a facility to produce up to 1.2 million square metre of high-quality membranes annually. Key Points
The HinduRight strategy is to keep cash in portfolio and buy on 10-15% dips: Dipan Mehta
Dipan Mehta advises keeping cash in the portfolio for strategic reasons, as investing during a correction ensures excellent returns in the next three years. Compliance and responsible lending are priority for NBFCs like IIFL and JM Financials. At 25-30% correction, a whole host of midcap ideas also will come through. Right now investors need to really assess the risk return profile of their portfolios. Key Points
Economic TimesBata India continues to 'explore strategic alliances' amid speculations of partnership talks with Adidas
Bata India has clarified that it continues to explore opportunities for strategic collaborations and tie-ups . This comes after media reports that Bata is in talks with Adidas over a potential strategic partnership for the Indian market. Bata India's shares on Thursday closed 5.3% higher at Rs 1,733.75 apiece in a downcast Mumbai trading as BSE Sensex had plunged 388 points. Key Points
Economic Times
Ukraine claims downing Russian bomber, Moscow denies
The ongoing conflict between Ukraine and Russia intensified after Ukrainian forces today claimed shooting down a Russian strategic bomber. Later, Moscow said the plane crashed due to a malfunction. Key Points
India TodayOil extends gains on US strategic reserve purchases
By Mohi Narayan and Florence Tan NEW DELHI (Reuters) -Oil prices rose on Monday, extending gains for a second session as U.S. efforts to replenish strategic reserves provided some support, although Key Points
ThePrintXi Jinping hails 'deepening' trust between China, Russia in talks with Putin
Xi Jinping conveyed to Vladimir Putin that the level of political mutual trust between their nations is steadily strengthening, as reported by state media in Beijing. Xi also emphasized the importance of collaborative endeavors between China and Russia in preserving international equity and upholding justice. The state news agency Xinhua praised the strong and efficient strategic coordination that exists between the two countries. Key Points
Economic TimesGovt calls off strategic sale of helicopter service provider Pawan Hans
In April last year, the government had decided to sell Pawan Hans for Rs 211.14 crore to Star9 Mobility, a consortium of Big Charter Pvt Ltd, Maharaja Aviation Pvt Ltd and Almas Global Opportunity Fund SPC. Pawan Hans is a joint venture between the government and ONGC, which hold 51% and 49% stakes in the company. Key Points
Economic TimesVladimir Putin, Xi Jinping to sign declaration on 'new era' ties: Kremlin
The leaders will sign... a joint statement on strengthening comprehensive partnership and strategic relations entering a new era, Kremlin foreign policy advisor Yuri Ushakov said in comments carried by Russian news agencies. Key Points
Economic Times
Why are Indians indifferent to Palestinians’ plight? No, it’s not about Jews vs Muslims
National interest always trumps pan-Islamism. Their shared strategic threat is Iran, its Shia base. The so-called Muslim world has stopped seeing Palestine as an Islamic issue. Key Points
ThePrintBigger, bolder MDBs help effectively deal with complex demands of emerging economies: DEA Secy
The sessions included focused discussions on facilitating strategic engagement with MDBs, exploring collaborative models of development financing and leveraging emerging technologies for transformative development, it added. During the seminar, the key points of focus included the urgent need to speed up MDB's operational processes and enhance its role in areas of credit enhancement and risk management to leverage greater private capital, the statement said. Key Points
Economic TimesCabinet approves royalty rates for 12 critical minerals
With this, the exercise of rationalising royalty rates for all 24 critical and strategic minerals is complete, an official statement said. The centre had notified the royalty rate of four critical minerals - Glauconite, Potash, Molybdenum and Platinum Group of Minerals - on in March 2022. Royalty rates for Lithium, Niobium and Rare Earth Elements was approved during October 2023. Key Points
Economic TimesRCB full squad IPL 2024: List of players bought by Royal Challengers Bangalore in auction
RCB is gearing up for IPL 2024 with a strategic focus on securing the trophy. In a notable twist at the auction, they strategically strengthened their bowling lineup, securing Alzarri Joseph after an intense bid for Pat Cummins, who ultimately joined SRH. The franchise opted out of the bidding for Cummins' compatriot, Josh Hazlewood. Key Points
Economic TimesState-run lenders to work on climate risk metrics
The finance ministry is likely to hold a review, later this month, on performance of public sector lenders in the backdrop of a three-year strategic roadmap, a government official told ET. The move is in line with increased focus globally on the challenges posed by climate change and the need for building financial sector resilience and readying state-owned lenders for the next leap. Key Points
Economic Times
Demonstrating democracy: The 2024 poll cycle is a strategic opportunity that can provide India leverage
Elections alone are not a barometer of democracy. However, for a country once constantly criticised on rigged elections, to boast of turnout percentages in the 65-75% range, with rapidly improving numbers among women, is quite different to the general cynicism elsewhere. Key Points
The Economic TimesAttrition challenge mainly in Jr management; will pursue inorganic growth opportunities: Kotak Mahindra Ba
Building a team of talented, engaged and motivated employees features in a list of nine strategic drivers which the bank will be pursuing going ahead, Apte said. The bank, which has had a history of acquisitions, will also pursue inorganic opportunities, Apte said, including this item in the list of strategic drivers. Key Points
Economic Times