India airlifts AC parts to combat heatwave demand
Industry players report that compressors, cross flow fans/motors, and PCB circuits are being imported via air freight from global suppliers in countries such as China, Taiwan, Thailand, Malaysia, and Japan, to ensure continuous production and maintain supply lines, as traditional ocean freight deliveries are too slow to keep up.News Arena Network - New Delhi - UPDATED: June 19, 2024, 03:41 AM - 2 mins read
Economy
See All![The Tripura government is set to establish an integrated aqua park in the Unakoti district to enhance tourism and the fisheries sector, according to an official statement on Wednesday. The Tripura government is set to establish an integrated aqua park in the Unakoti district to enhance tourism and the fisheries sector, according to an official statement on Wednesday.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Ffisheries-tourismjpeg_1719404404845.jpeg&w=3840&q=8)
June 26, 2024, 05:20 AM - 2 mins read
The fisheries department plans to undertake pisciculture and establish a tourist spot, boating facility, restaurant, and fish feeding factory.“These components aim to promote and develop the fisheries sector while attracting tourists, providing a significant boost to both sectors," the official explained.
Read more![The State Bank of India (SBI), the country’s largest lender, announced on Wednesday that it has successfully raised ₹10,000 crore through its fifth infrastructure bond issuance, with a coupon rate of 7.36 per cent. The State Bank of India (SBI), the country’s largest lender, announced on Wednesday that it has successfully raised ₹10,000 crore through its fifth infrastructure bond issuance, with a coupon rate of 7.36 per cent.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Fsbijpg_1719394009211.jpg&w=3840&q=8)
June 26, 2024, 02:26 AM - 2 mins read
"The issue attracted overwhelming response from investors with bids in excess of ₹19,884 crore and was oversubscribed by around four times against the base issue size of ₹5,000 crore," SBI revealed in a BSE filing. The total number of bids received was 143, indicating wider participation and a diverse array of investors.
Read more![Union Minister Jitendra Singh announced the installation of seven new nuclear reactors, which is expected to increase the country's nuclear power generation capacity by approximately 70% over the next five years. Union Minister Jitendra Singh announced the installation of seven new nuclear reactors, which is expected to increase the country's nuclear power generation capacity by approximately 70% over the next five years.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2F1500800-6jpg_1719386017371.jpg&w=3840&q=8)
June 26, 2024, 12:13 AM - 2 mins read
Singh emphasized the need for the Department of Atomic Energy to enhance integration and collaboration to fully harness its potential. This includes capacity building, knowledge sharing, and leveraging resources and expertise. He highlighted the importance of developing indigenous technology to ensure energy security.
Read more![The Indian economy is set for a major structural shift, aiming for a sustained 8% growth rate, according to the RBI Governor Shaktikanta Das. However, he cautioned that any misstep in monetary policy could derail this growth trajectory. The Indian economy is set for a major structural shift, aiming for a sustained 8% growth rate, according to the RBI Governor Shaktikanta Das. However, he cautioned that any misstep in monetary policy could derail this growth trajectory.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Fshaktikantadasbloombergjpg_1719383570615.jpg&w=3840&q=8)
June 25, 2024, 11:32 PM - 2 mins read
Speaking at the Annual General Meeting of the Bombay Chamber of Commerce on Tuesday, Das defended the monetary policy committee's (MPC) decision to maintain the 4% inflation target. He emphasized the importance of avoiding policy errors related to inflation control. Earlier this month, the MPC kept the policy interest rate unchanged at 6.5% for the eighth consecutive time, citing inflationary concerns.
Read more![Sensex hits new all-time high in early trade on Wednesday
Sensex hits new all-time high in early trade on Wednesday](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Fsensexnaijpg_1719376358916.jpg&w=3840&q=8)
June 25, 2024, 09:32 PM - 2 mins read
Among the 30 Sensex companies, UltraTech Cement, ICICI Bank, Larsen & Toubro, Kotak Mahindra Bank, NTPC, Bajaj Finance and Tata Motors were the biggest gainers.
Read more![Indian equity markets closed on a record-high note on Monday, with both the NSE Nifty 50 and the BSE Sensex reaching unprecedented levels. Indian equity markets closed on a record-high note on Monday, with both the NSE Nifty 50 and the BSE Sensex reaching unprecedented levels.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2F1500800-5jpg_1719315765995.jpg&w=3840&q=8)
June 25, 2024, 04:42 AM - 2 mins read
Leading the charge in the Nifty 50 were Shriram Finance, Axis Bank, ICICI Bank, and both HDFC entities. Meanwhile, the Bank Nifty index also saw a remarkable rally, gaining over 1,000 points in a single day and reaching an all-time high of 52,746.50. The Bank Nifty closed 902 points or 1.74% higher from its previous close, at 52,606.
Read more![Textiles Minister Giriraj Singh said on Tuesday that the government has approved an extension of the Production Linked Incentive (PLI) scheme, originally aimed at textiles, to include the garments sector. Textiles Minister Giriraj Singh said on Tuesday that the government has approved an extension of the Production Linked Incentive (PLI) scheme, originally aimed at textiles, to include the garments sector.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2F1500800-4jpg_1719314236409.jpg&w=3840&q=8)
June 25, 2024, 04:17 AM - 2 mins read
Addressing attendees at the India International Garment Fair (IIGF), Minister Singh, highlighted government's commitment to boost growth within the textiles and garments industry. The PLI scheme, which initially received a budgetary allocation exceeding Rs 10,000 crore, has already been instrumental in promoting the production of man-made fibre apparel, fabrics, and technical textiles across the country.
Read more![India's benchmark stock indices, the S&P BSE Sensex and the NSE Nifty50, kicked off Tuesday's trading session on a positive note as financial and banking stocks surged, while large caps remained in focus. India's benchmark stock indices, the S&P BSE Sensex and the NSE Nifty50, kicked off Tuesday's trading session on a positive note as financial and banking stocks surged, while large caps remained in focus.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Fsensexxjpg_1719299122291.jpg&w=3840&q=8)
June 25, 2024, 12:05 AM - 2 mins read
Among the top performers on the Nifty50, Axis Bank, Ultratech Cement, HDFC Bank, Britannia, and Hero MotoCorp led the gainers. Conversely, BPCL, HCLTech, Adani Ports, Asian Paints, and NTPC faced selling pressure and were the top losers.
Read more![India's persistent water shortages, exacerbated by a prolonged heatwave and high consumption rates amid rapid economic growth, are posing significant risks to its credit health, according to a recent report by Moody's Investors Service. India's persistent water shortages, exacerbated by a prolonged heatwave and high consumption rates amid rapid economic growth, are posing significant risks to its credit health, according to a recent report by Moody's Investors Service.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Fwater-shortage-indiajpg_1719298660908.jpg&w=3840&q=8)
June 24, 2024, 11:57 PM - 2 mins read
The global ratings agency highlighted that the worsening water scarcity could intensify economic volatility in India, affecting sectors heavily reliant on water such as coal power generators and steel-makers. Moody's noted that India's economy is expected to grow at 6.5% in 2024, outpacing other G20 economies, but this growth comes with heightened water consumption challenges.
Read more![India's CAD declines to $23.2 billion, 0.7% of GDP in 2023-24 India's CAD declines to $23.2 billion, 0.7% of GDP in 2023-24](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Fcadeficit271220231jpg_1719290294598.jpg&w=3840&q=8)
June 24, 2024, 09:38 PM - 3 mins read
India's current account deficit significantly declined to $23.2 billion (0.7% of GDP) in 2023-24 from $67 billion (2% of GDP) the previous year, driven by a lower merchandise trade deficit and increased net invisible receipts, with notable improvements in foreign exchange reserves, services exports, and portfolio investments, according to the RBI.
Read more![The Indian equity markets staged a notable recovery today, reversing early session losses to conclude the trading day on a positive note. The Indian equity markets staged a notable recovery today, reversing early session losses to conclude the trading day on a positive note.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Fsensexxjpg_1719224689899.jpg&w=3840&q=8)
June 24, 2024, 03:24 AM - 2 mins read
The BSE Sensex rose by 131 points to settle at 77,341, showcasing a recovery after a subdued start to the day. Mahindra & Mahindra led the gainers on the Nifty, supported by Power Grid Corporation of India and Sun Pharmaceutical Industries. Conversely, IndusInd Bank and Tata Steel were among the prominent losers on the index.
Read more![Morgan Stanley, has predicted a substantial 15.3% Compound Annual Growth Rate (CAGR) in infrastructure investments in India over the next five years. Morgan Stanley, has predicted a substantial 15.3% Compound Annual Growth Rate (CAGR) in infrastructure investments in India over the next five years.](/_next/image?url=https%3A%2F%2Fapi.newsarenaindia.com%2F%2Fuploads%2Fimg_4122jpeg_1719218982710.jpeg&w=3840&q=8)
June 24, 2024, 01:15 AM - 2 mins read
In its recent publication titled The New India - Infrastructure, Morgan Stanley emphasized the pivotal role of infrastructure investment in economic development. The report highlights India’s increased focus on infrastructure over the past decade, coupled with efforts to enhance productivity.
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