Author: Neel Achary

Jaishankar Lauds GalaxEye for Advancing India’s Space-Tech Strength

May 4 (BNP): External Affairs Minister S. Jaishankar has praised India’s advancing space technology ecosystem, highlighting the success of GalaxEye and its “Mission Drishti,” which is being seen as a significant step forward in all-weather Earth imaging capabilities.

The mission marks a notable achievement in strengthening India’s private space sector, demonstrating the country’s growing ability to develop advanced imaging systems that can operate effectively in diverse weather conditions.

Jaishankar said such innovations reflect India’s expanding technological strength and underline the contribution of startups in enhancing the nation’s global space footprint. He noted that developments like Mission Drishti position India as an emerging leader in next-generation space-based solutions.

The breakthrough is expected to support applications across sectors such as disaster management, agriculture, defence, and climate monitoring, further reinforcing India’s push towards self-reliance in space technology.

Overall, the development is being viewed as a milestone in India’s journey towards building a stronger, innovation-driven space ecosystem supported by private sector participation

Nissan GRAVITE CNG Debuts with Segment-First Twin-Cylinder Retrofitment Kit, Enabling True 7-Seater CNG Mobility – Press release

Gurugram, May 04: Nissan Motor India Private Limited announced the launch of government-approved CNG retrofitment kit for the All-New Nissan GRAVITE, featuring an innovative segment-first smart twin-cylinder technology that retains full 7-seater modularity & usability. across 16 states, the GRAVITE CNG is designed to offer customers a smarter, more economical and environmentally conscious mobility solution while retaining ample space in the 3rd row, offering comfort and everyday practicality.

A practical yet forward-looking solution, the GRAVITE CNG combines “Smart Power with Smarter Savings,” delivering significantly lower running costs per/km while retaining its joyful modularity, comfort and everyday usability. The government-approved CNG kit is fully developed, manufactured and quality assured by Motozen. Customers can order the CNG kit installation via Nissan authorised dealers, for an extremely convenient and trusted purchase route to access the CNG solution. A 3-year / 1,00,000 km warranty on kit components via a third-party provider is also being offered.

Mr. Thierry Sabbagh, Divisional Vice President and President, Middle East, KSA, CIS and India – Nissan and Infiniti, said,

“India continues to be a strategic market for Nissan, and our focus is on bringing products and mobility solutions that are relevant, accessible and future-ready, aligned with the evolving needs of the customers. The introduction of the CNG option for the All-New Nissan GRAVITE is a significant step in that direction. With GRAVITE CNG, we are extending a proven, practical solution to customers seeking a combination of family-focused space, everyday mobility, and lower running costs in key CNG markets.”

Mr. Saurabh Vatsa, Managing Director, Nissan Motor India, said,

“After an extremely positive reception from the customers for the Magnite CNG, we are delighted to now launch the first twin-cylinder solution in the segment for The All-New Nissan GRAVITE. It has been designed for customers who need the practicality, flexibility and comfort of a 7-seater MPV for everyday family use. With the introduction of the government-approved CNG retrofitment kit, we are making that proposition even stronger by offering a solution that is not only economical to run but also designed to retain its full 7-seater flexibility, modularity & capability through a smart twin-cylinder setup, ensuring no compromise on space or everyday usability.”

Building on its success, the CNG system has been engineered to deliver performance, safety and efficiency without compromising comfort. Key technical highlights include a Sequential BS6.2 Compliant CNG Kit, an ICAT-approved system for certified safety and reliability, heavy-duty cylinder thickness of 8.1 mm for enhanced durability, and latest Dynamic Advancer Technology optimised specifically for the GRAVITE. The system also features a fuel filling point under the fuel lid, clean factory-finish integration with well-designed component brackets, an optimised rear seat layout that maintains passenger comfort, and seamless petrol and CNG switchover.

For high-mileage users such as families managing office commutes, school runs and regular out-of-city visits, the All-New Nissan GRAVITE CNG offers significant savings versus petrol, making a 7-seater more realistic and affordable to run in CNG-dense markets. At the same time, it contributes to cleaner air and more sustainable mobility choices especially in high-traffic conditions and urban environments – allowing families to make a more responsible choice without compromising on convenience.

 

India Tightens Enforcement to Curb LPG Hoarding Amid Stable Supplies

New Delhi, May 4 (BNP): The government has intensified enforcement measures to prevent hoarding and ensure smooth supply of cooking gas across the country, conducting more than 1,900 raids nationwide, even as LPG availability continues to remain stable amid ongoing geopolitical tensions in West Asia.

According to the Ministry of Petroleum and Natural Gas, around 47 lakh domestic LPG cylinders were delivered on May 2 against bookings of approximately 47.4 lakh cylinders, indicating that supply levels are largely keeping pace with demand.

As part of its crackdown on irregularities, the government said penalties have been imposed on 349 LPG distributorships, while 74 distributorships have been suspended for violations related to stock management and distribution practices.

The ministry also confirmed that essential household energy supply remains uninterrupted. It stated that 100 percent supply is being maintained for domestic LPG, domestic PNG, and CNG used in transport.

However, it acknowledged that geopolitical developments have had some impact on overall supply chains, particularly in commercial segments. To address this, the allocation of commercial LPG has been restored to about 70 percent of pre-crisis levels.

In addition, public sector oil marketing companies sold around 11,082 metric tonnes of auto LPG since April, while targeted distribution efforts continue to ensure availability of smaller cylinders, especially for vulnerable and migrant populations.

The Ministry of Ports, Shipping and Waterways also assured that maritime operations remain stable. It confirmed that an LPG shipment carrying over 46,000 metric tonnes successfully passed through the Strait of Hormuz without incident.

Officials further stated that all Indian seafarers in the region are safe, with no incidents reported involving Indian-flagged vessels in the past 24 hours. Port operations across the country continue to function normally.

Overall, authorities emphasised that while global geopolitical tensions persist, domestic LPG supply chains remain well-managed and stable through coordinated monitoring and enforcement efforts.

Global Crude Shortfall Could Reshape Demand and Strengthen OMC Margins

May 4 (BNP): A global crude oil supply shortfall of around 4.8 million barrels per day (mbpd) could potentially lead to demand destruction while improving margins for oil marketing companies (OMCs), according to a recent report.

The report suggests that tightening supply conditions in the global oil market may push prices higher, which in turn could moderate consumption levels as demand adjusts to elevated costs. Such a scenario often leads to reduced discretionary usage across key consuming regions.

At the same time, the supply-demand imbalance is expected to benefit refining and marketing companies. Higher crude price spreads and improved product pricing dynamics could support stronger margins for OMCs in the near term.

Analysts note that the extent of impact will depend on how global producers respond to the supply gap and whether demand adjusts more sharply in major consuming economies. Market conditions are likely to remain sensitive to geopolitical developments and production decisions by key oil-exporting nations.

Overall, the report highlights a mixed outlook, where near-term demand pressure coexists with potential margin gains for downstream oil companies.

Online Food Delivery Sees Rapid Growth, Yet Huge Scope Remains

New Delhi, May 4 (BNP): Online food delivery in India has witnessed strong growth in recent years but continues to account for a relatively small share of the overall food services industry, according to a recent report by Investec.

The report highlights that the segment currently represents about 11 percent of the total food services market, rising significantly from around 3 percent in 2018. This sharp increase reflects growing consumer preference for convenience, wider digital adoption, and expanding urban demand.

While the sector has emerged as one of the fastest-growing segments in the food services space, a large portion of the market still operates through offline channels, indicating considerable scope for further expansion.

Industry observers believe that continued growth in organised food services, along with increasing smartphone penetration and changing lifestyles, will further support the expansion of online food delivery platforms in the coming years.

Overall, the findings suggest that although the sector has made rapid progress, it still has substantial room for growth in the Indian market.

Strong Tax Receipts Help Government Surpass Revenue Targets

New Delhi, May 4 (BNP): The government has reported robust revenue collections across major tax categories, with several streams exceeding their respective Modified Revised Estimates (MRE) for the financial year ending March.

Stamp duty collections reached ₹9,119.72 crore, slightly surpassing expectations at 101 percent of the MRE. This indicates steady activity in property transactions and related sectors, contributing positively to the state’s revenue position.

Excise duty collections also showed notable strength, totaling ₹6,206 crore during the same period. This figure represents 103 percent of the MRE, reflecting improved compliance and consistent demand in excise-generating sectors.

Meanwhile, revenue from vehicle taxes stood at ₹3,245 crore, exceeding the targeted ₹3,200 crore and achieving 101 percent of the MRE. The increase suggests stable growth in vehicle registrations and related economic activity.

Overall, the performance across these categories underscores effective revenue mobilisation and a resilient economic environment, helping the government maintain fiscal stability while supporting ongoing development initiatives.

Rupee Weakens in Early Trade Amid West Asia Tensions and Elevated Oil Prices

Mumbai, May 4 (BNP): The Indian rupee opened on a weaker note on Monday, depreciating by 11 paise to 94.95 against the U.S. dollar in early trade, as ongoing geopolitical tensions in West Asia continued to weigh on investor sentiment.

Market participants remained cautious amid uncertainty in global markets, with risk appetite subdued due to the evolving situation in the region. Forex traders noted that sustained volatility in crude oil prices has added to the pressure on the domestic currency.

Brent crude, the global oil benchmark, was trading near the $108 per barrel mark, keeping concerns alive for oil-importing nations like India. Elevated crude prices tend to widen the country’s trade deficit and increase demand for the U.S. dollar, thereby exerting downward pressure on the rupee.

Analysts also pointed out that the strengthening of the U.S. dollar against major global currencies further contributed to the rupee’s weakness. In addition, cautious positioning by foreign investors and fluctuations in global equity markets influenced currency movements during the early session.

Despite the initial decline, traders expect the rupee’s movement to remain range-bound through the day, with investors closely tracking crude oil trends, geopolitical developments, and global market cues for further direction.

Markets Surge at Open, Tracking Global Optimism and Easing Oil Prices

Mumbai, May 4(BNP): Indian benchmark equity indices opened the week on a strong note, rallying sharply in early trade on Monday amid easing crude oil prices and improved global market sentiment.

The BSE Sensex surged 657.80 points to reach 77,571.30, while the NSE Nifty 50 advanced 213.35 points to 24,215.10 during the opening session.

The upbeat momentum in domestic equities mirrored gains across Asian markets, which were trading higher following positive cues from global peers. Lower oil prices further boosted investor confidence, easing concerns around inflation and fiscal pressures for oil-importing economies like India.

Among the top performers on the Sensex was Maruti Suzuki India Ltd, which rallied around 4 percent. The surge came after the automaker reported record total sales of 2,39,646 units in April, marking a robust 33.29 percent year-on-year growth. The strong performance was driven primarily by rising demand for its small car segment, signaling a healthy start to the new financial year.

Market analysts attributed the rally to a combination of favorable macroeconomic indicators, stable foreign fund inflows, and optimism surrounding corporate earnings. The decline in crude oil prices has been particularly supportive, as it helps contain input costs and inflationary pressures.

Investors will continue to track global economic developments, corporate earnings announcements, and commodity price trends for further direction in the markets.