Category Archives: News

India Urged to Strengthen Carbon Markets Amid EU Carbon Tax Pressure

July 3: Indian industry leaders are urging the government to strengthen the country’s carbon markets, as the European Union’s Carbon Border Adjustment Mechanism (CBAM) begins to reshape global trade dynamics.

They warn that the EU’s carbon-linked import tax is pushing exporters to account for emissions more strictly, which could affect the competitiveness of Indian goods in international markets if domestic systems are not strengthened in time.

Experts say a well-functioning carbon trading system in India would help industries manage rising compliance costs while also encouraging cleaner and more efficient production practices.

Sectors such as steel, cement, and chemicals are expected to feel the impact the most, as they are highly emissions-intensive and closely linked to export demand.

Industry representatives are now calling for faster policy action to build a stronger carbon market framework, saying it is essential for protecting trade interests while supporting India’s long-term climate commitments.

Odisha, Japan Forge Strategic Partnership for INR 67,000-Crore Green Energy and Industrial Projects

Bhubaneswar, July 3 (UDN): Odisha took a major step towards strengthening its economic partnership with Japan on Thursday by signing a Memorandum of Cooperation (MoC) with IHI Corporation and ACME Group to jointly explore large-scale investments in green energy, advanced manufacturing and industrial infrastructure.

The agreement was signed during an Interaction with Japanese Business Delegates hosted by the Odisha Government, reaffirming the state’s growing reputation as a preferred destination for global investments and clean energy projects.

Under the proposed collaboration, projects worth nearly ₹67,000 crore are planned across Odisha, with the potential to generate around 7,000 direct employment opportunities.

The proposed investments include a 0.4 million tonnes per annum (MTPA) green ammonia project at Gopalpur Tata SEZ, involving an investment of ₹20,000 crore and expected to create nearly 3,400 jobs. The project will also include a jetty-less floating terminal with an additional investment of ₹1,000 crore.

Another major proposal involves setting up a 0.8 MTPA green ammonia plant at Paradip with an estimated investment of ₹34,000 crore, generating employment for around 3,600 people. In addition, a green methanol project with an investment of ₹12,000 crore has also been proposed as part of the collaboration.

The partnership is expected to facilitate technology transfer, accelerate the adoption of clean energy technologies and promote sustainable industrial development in Odisha. It also aims to strengthen the state’s position as a key hub for green hydrogen, green ammonia and advanced manufacturing in eastern India.

The business interaction brought together senior representatives from the Odisha Government, Japanese industries, the Embassy of Japan, the World Bank Group, industry associations and leading industrial enterprises to explore opportunities across sectors such as renewable energy, aerospace, shipbuilding, steel, chemicals, logistics, industrial infrastructure and engineering.

Speaking on the occasion, Chief Minister Mohan Charan Majhi said the collaboration marks another milestone in Odisha’s industrial growth journey and reflects the deepening economic ties between Odisha and Japan. He invited Japanese companies to partner with the state in creating globally competitive industries that promote innovation, technology transfer and quality employment.

Industries Minister Sampad Chandra Swain said Odisha continues to offer a favourable investment climate backed by progressive industrial policies, modern infrastructure and responsive governance. He reiterated the government’s commitment to facilitating timely implementation of investment proposals.

Representatives of IHI Corporation and ACME Group expressed confidence in Odisha’s industrial potential, highlighting the state’s strategic location, abundant natural resources and investor-friendly ecosystem. They said the partnership would combine Japanese technological expertise with Odisha’s industrial strengths to develop globally competitive clean energy projects.

Officials said the initiative is expected to boost ancillary industries, create opportunities for MSMEs and skilled youth, and support India’s transition towards a low-carbon economy while further strengthening the long-standing economic partnership between Odisha and Japan.

RBI Initiative Drives Growth in NRI Deposits

July 3: Banks across India have reported an increase in Non-Resident Indian (NRI) deposits following the implementation of the Reserve Bank of India’s (RBI) new deposit scheme, reflecting growing confidence among overseas Indians in the country’s banking system.

The uptick in deposits is attributed to the RBI’s measures aimed at making NRI deposit products more attractive and improving the flow of foreign currency into the domestic financial system. The initiative is expected to strengthen banks’ foreign currency resources while supporting overall liquidity.

Banking industry officials noted that the enhanced deposit inflows underscore the effectiveness of the RBI’s policy measures in encouraging greater participation from the Indian diaspora. The additional funds are expected to help banks diversify their funding base and support credit growth across sectors.

The increase in NRI deposits also highlights sustained confidence in India’s economic outlook and financial stability. Industry experts believe that continued policy support and favourable market conditions could further boost overseas deposits in the coming months.

Odisha’s Vande Bharat Network Expands, Offering Faster Connectivity Across Key Cities

Bhubaneswar, July 3: Odisha’s rail connectivity has received a major boost with multiple Vande Bharat Express services linking the state with key destinations in eastern and southern India. The semi-high-speed trains have significantly reduced travel time while providing passengers with modern amenities and enhanced travel comfort.

Representational image

The Vande Bharat network now connects major cities including Bhubaneswar, Puri, Brahmapur, Rourkela, Visakhapatnam, Howrah, Tatanagar and Raipur, strengthening inter-state connectivity for business travellers, tourists and daily commuters.

Most of the services operate six days a week, with specific weekly maintenance days depending on the route. Railway authorities have advised passengers to check the train’s operating schedule before booking tickets.

Bhubaneswar–Visakhapatnam Vande Bharat (Train Nos. 20841/20842)

The train departs Bhubaneswar at 5:15 a.m. and reaches Visakhapatnam at 11:00 a.m. On the return journey, it leaves Visakhapatnam at 3:30 p.m. and arrives in Bhubaneswar at 9:30 p.m. The service operates six days a week and remains off on Mondays.

Howrah–Puri Vande Bharat (Train Nos. 22895/22896)

Connecting West Bengal with Odisha, the train departs Howrah at 6:10 a.m. and reaches Puri at 12:35 p.m. The return service leaves Puri at 1:40 p.m., with scheduled halts at Bhubaneswar and Cuttack, before arriving in Howrah at 8:30 p.m. The train does not operate on Thursdays.

Puri–Rourkela Vande Bharat (Train Nos. 20836/20835)

The service starts from Puri at 5:00 a.m., reaches Bhubaneswar at 6:00 a.m., and arrives in Rourkela at 12:45 p.m. On the return trip, it departs Rourkela at 2:10 p.m. and reaches Puri at 9:40 p.m. The train remains off on Tuesdays.

Brahmapur–Tatanagar Vande Bharat (Train No. 20892)

Departing Brahmapur at 5:15 a.m., the train reaches Bhubaneswar at 6:40 a.m. before arriving at Tatanagar at 2:50 p.m. The service operates six days a week, except Tuesdays.

Rourkela–Howrah Vande Bharat (Train No. 20872)

This service leaves Rourkela at 1:35 p.m. and reaches Howrah at 7:50 p.m. It operates six days a week and remains off on Tuesdays.

Raipur–Visakhapatnam Vande Bharat (Train No. 20829)

Running through Titlagarh and Rayagada in Odisha, the train departs Raipur at 5:45 a.m. and reaches Visakhapatnam at 1:50 p.m. The service operates six days a week and does not run on Thursdays.

Equipped with modern features such as automatic doors, comfortable seating, onboard passenger information systems, CCTV surveillance and enhanced safety mechanisms, the Vande Bharat Express trains have emerged as a preferred choice for faster and more convenient travel.

Railway officials have advised passengers to verify train timings, operating days and seat availability before planning their journey, as schedules may be revised periodically due to operational requirements.

SEBI Proposes INR Fee Payment for FPIs, FVCIs to Ease Compliance

July 3: The Securities and Exchange Board of India (SEBI) has proposed allowing Foreign Portfolio Investors (FPIs) and Foreign Venture Capital Investors (FVCIs) to pay registration and renewal fees in Indian rupees (INR), aiming to simplify compliance and reduce transaction complexity for foreign investors.

The move is intended to streamline administrative procedures, eliminate foreign currency payment requirements, and improve ease of doing business in India’s capital markets.

The proposal is currently under consideration and will be implemented after regulatory approvals and stakeholder consultations.

Indian Junior Women’s Hockey Team Departs for UK Exposure Tour

July 3: The Indian junior women’s hockey team has departed for the United Kingdom as part of an exposure tour aimed at strengthening international experience and preparing the squad for upcoming global competitions.

The tour will provide the young athletes with an opportunity to compete against high-performance international teams, helping them gain valuable match exposure, improve tactical awareness, and adapt to different playing conditions and styles.

Officials associated with the development program stated that such international tours play a crucial role in building depth in the national hockey pipeline and shaping future senior-level players. The experience is expected to enhance team cohesion, technical skills, and overall game readiness.

The exposure tour is also aligned with Hockey India’s long-term development strategy to provide consistent international match practice to junior players and ensure a smooth transition to elite-level competition.

The team will participate in a series of practice matches and training sessions during the tour, which is expected to contribute significantly to their preparation for upcoming international tournaments.

DJ Group Chairman Rhitik Jassar Presents DJ Medicity Vision to UP Medical Education ACS Amit Kumar Ghosh

Lucknow, July 3: Rhitik Jassar, Chairman of the Jassar Dental Medical Education Health Foundation and DJ Group of Institutions, met Amit Kumar Ghosh, IAS, Additional Chief Secretary, Medical Education & Medical Health, Government of Uttar Pradesh, to present the progress and vision for DJ Medicity, the group‘s integrated medical college and teaching hospital coming up in Modinagar.

During the meeting, the Additional Chief Secretary reviewed the project’s progress and appreciated its vision of strengthening access to quality medical education and private healthcare in Modinagar, a region with significant unmet healthcare needs. He also acknowledged the contribution of the DJ Group of Institutions, which has been serving Uttar Pradesh through healthcare education since 1997.

Amit Kumar Ghosh, IAS, Additional Chief Secretary, Medical Education & Medical Health, Government of Uttar Pradesh, said,

 “The Government of Uttar Pradesh continues to encourage quality investments in medical education and healthcare infrastructure. The DJ Group of Institutions has made a meaningful contribution to healthcare education in the state over the past three decades. It is encouraging to see a young leader like Rhitik Jassar carrying forward the vision of Founder Chairman Sardar Ajit Singh Jassar with clarity, commitment and purpose. At an age when many pursue opportunities elsewhere, Rhitik has chosen to return and invest in his home state. Such entrepreneurship and institution-building are vital as Uttar Pradesh advances its vision of becoming a US$1 trillion economy and further strengthens medical education through initiatives such as One District, One Medical College.” 

The meeting follows an important milestone for the project. On 8 February 2025, the foundation stone for DJ Medicity was laid by former Chief Secretary of Uttar Pradesh Manoj Kumar Singh, IAS, one of the most influential and respected bureaucrats in the state.. The project is now nearing completion, with partial operationalisation of the completely renovated teaching hospital proposed for 15 September 2026, marking the 70th birth anniversary of Founder Chairman Sardar Ajit Singh Jassar.

The project has been masterplanned by Creative Designer Architects , a leading healthcare architecture firm behind AIIMS Guwahati, AIIMS Gorakhpur, AIIMS Bathinda, and multiple projects for Max Healthcare, Fortis Healthcare, Paras Health and Yashoda Hospitals.

Healthcare planning and operationalisation are being led by White Hawk Associates with strategic guidance from Bhavdeep Singh (Former CEO, Fortis Healthcare & Reliance Retail), Dr. Rajen Ghadiok (Former Chief Medical Officer, Fortis Healthcare; Former Chairman, Cardiology, Sir Ganga Ram Hospital), Ajay Vij (Former CIO, Fortis Healthcare & Reliance Retail; Former Practice Head, Siemens) and Gurjit Singh (Former CEO, Sakra World Hospital; Senior Director, Alvarez & Marsal), covering hospital planning, operations and medical technology.

DJ Medicity, with a planned capacity of 1,205 hospital beds , is envisioned as a multidisciplinary institution offering undergraduate, postgraduate, doctoral and super-speciality programmes across medicine, allied health sciences, nursing, law, management, science, technology and other emerging disciplines. The campus, masterplanned for over 10,000 people, will also include advanced research centres dedicated to oncology, nuclear medicine, sports medicine and injury rehabilitation, creating an integrated ecosystem for medical education, research and healthcare delivery.

Commenting on the initiative, Rhitik Jassar, Chairman of the Jassar Dental Medical Education Health Foundation  and DJ Group of Institutions, said,

 “DJ Medicity represents my father’s vision of transforming Modinagar into a destination for quality healthcare and medical education. Our focus is to build an institution that combines clinical excellence, medical education and patient-centric care while serving the healthcare needs of an underserved region. We are grateful for the encouragement and guidance extended by the Government of Uttar Pradesh as we work towards bringing this vision to life.”

The ₹500 crore DJ Medicity project aims to create a world-class integrated ecosystem for medical education and healthcare, aligned with the Government of India’s vision for Institutions of Eminence. Expected to generate approximately 3,000 direct and 10,000 indirect employment opportunities, the project will strengthen medical education capacity, improve access to advanced healthcare in western Uttar Pradesh, and attract significant private investment into the state’s healthcare and higher education sectors. 

The initiative also aligns with the Government of Uttar Pradesh’s efforts to expand healthcare infrastructure and medical education while representing the next phase of institutional leadership under Chairman Rhitik Jassar. 

US Retains Position as India’s Largest LPG Supplier in June: Report

July 3: The United States continued to hold its position as India’s largest supplier of liquefied petroleum gas (LPG) in June, according to industry data, underscoring strong energy trade ties between the two countries.

The report highlights that LPG imports from the US remained robust during the month, supported by competitive global pricing and steady supply availability. India continues to rely on diversified import sources to meet its growing domestic LPG demand, driven by rising household consumption and government-backed clean cooking initiatives.

Energy analysts note that the sustained supply from the US reflects India’s broader strategy of ensuring energy security through a balanced import portfolio across key international suppliers. Alongside the US, other major exporters also contribute to India’s LPG requirements, helping maintain stable supply conditions in the domestic market.

The continued dominance of the US in June reinforces its role as a key energy partner for India, particularly in the liquefied petroleum gas segment, where demand is expected to remain strong in the coming months due to seasonal and structural consumption trends.

State-Level Reforms Set to Triple India’s Commercial & Industrial Renewable Energy Capacity by 2032: Report

July 3: India’s commercial and industrial (C&I) renewable energy capacity is expected to nearly triple by 2032, rising from about 32 GW in 2025 to nearly 100 GW, driven by sustained policy reforms at the state level, according to a new industry report by the India Energy Storage Alliance (IESA) and Customized Energy Solutions (CES).

The report highlights that progressive state initiatives—particularly Green Energy Open Access (GEOA) frameworks, streamlined regulatory approvals, and incentives for renewable procurement—are enabling faster adoption of clean energy among industrial and commercial consumers.

According to the findings, state governments are emerging as key enablers of India’s decentralized energy transition by improving market access and allowing large consumers to directly procure renewable power. This shift is expected to reduce energy costs for industries while helping them meet renewable purchase obligations (RPOs) and long-term sustainability targets.

The study also projects strong growth in energy storage within the C&I segment, which is expected to reach 28–31 GWh by 2032. This expansion will be driven by the increasing integration of variable renewable sources such as solar and wind, necessitating reliable storage solutions to ensure round-the-clock power availability and grid stability.

Industry experts cited in the report note that improving cost competitiveness of renewable energy, combined with corporate net-zero commitments, is accelerating demand across manufacturing, IT, and large commercial sectors. However, the report also flags uneven policy implementation across states and grid infrastructure limitations as potential challenges that could affect the pace of growth.

India’s broader clean energy transition goals, including achieving over 500 GW of non-fossil fuel capacity by 2030, are expected to be significantly supported by the rapid scaling of the C&I renewable energy segment.

Entrepreneur Loans Grow Faster Than Lending to Commercial Entities: Report

New Delhi, July 3: A recent report shows that business loans to individual entrepreneurs and small business owners are growing at a faster pace than credit extended to larger commercial entities, indicating a shift in lending patterns.

The report highlights rising credit flow toward micro, small, and medium enterprises (MSMEs) and self-employed entrepreneurs, supported by improved access to formal banking channels and digital lending platforms.

Government-backed credit schemes and financial inclusion initiatives have also contributed to easier loan availability for small businesses, encouraging wider participation in formal credit systems.

While lending to established corporate entities continues to expand steadily, the stronger growth in entrepreneur-focused loans reflects increasing emphasis on supporting grassroots business activity and job creation.

Experts note that this trend signals growing confidence in the small business segment, while also stressing the need for prudent lending practices to maintain credit quality.