India’s domestic air traffic increased by 6.12% in 2024, with airlines carrying 16.13 crore passengers compared to 15.20 crore in 2023, according to data released by the Directorate General of Civil Aviation (DGCA). In December alone, over 1.49 crore passengers flew on domestic routes, reflecting an 8.19% rise from the 1.38 crore recorded during the…
Union Minister for Environment, Forest, and Climate Change Bhupender Yadav emphasized that adopting a circular economy is not just an option but a necessity for India’s future. Speaking at the Special Ministerial Session of the 3rd International Conference on Sustainable Circularity, organized by the Society of Indian Automobile Manufacturers (SIAM) in New Delhi on Monday,…
India is likely to see an impact on its crude oil imports from Russia due to the recent sanctions imposed by the United States, but disruptions will not be immediate, according to a senior government official. The official explained that oil cargoes already in transit will reach India, so there will be no immediate effect….
The Reserve Bank of India (RBI) added 8 tonnes of gold to its reserves in November 2024, contributing to the global central bank addition of 53 tonnes during the month, according to the World Gold Council (WGC). The report, titled Central Bank Gold Statistics November 2024, highlighted that central banks, particularly from emerging markets, continued…
GMR Group has successfully secured a ₹6,300 crore investment from Abu Dhabi’s sovereign wealth fund, the Abu Dhabi Investment Authority (ADIA). The funds, received on January 7, will primarily be utilized to reduce the debt of GMR Enterprises Pvt Ltd (GEPL), the promoter group entity of GMR Group. According to a regulatory filing, the investment…
India Ratings and Research (Ind-Ra) forecasts a strong demand for oil and gas in the financial year 2026, despite subdued global demand impacting refining margins. The agency highlighted that robust domestic demand for petroleum products and favorable marketing margins are expected to stabilize the credit profile of downstream companies, even with compressed Gross Refining Margins…
Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu announced on Tuesday that the state government is exploring hydropower tourism as a means to generate self-employment and job opportunities for the local youth. The initiative aims to harness the state’s rich hydropower potential while promoting eco-tourism. The Chief Minister stated that a policy would soon be formulated…
India requires an estimated ₹16,000 crore in capital expenditure to address the growing need for public electric vehicle (EV) charging infrastructure and meet its goal of over 30% EV adoption by 2030, according to a report by FICCI. The report, “Electric Vehicle Public Charging Infrastructure: 2030 Roadmap,” highlights significant challenges in the financial viability of…
Air India has placed an order for 34 trainer aircraft to bolster its pilot training capabilities. The fleet, comprising 31 single-engine planes from US-based Piper Aircraft and three twin-engine planes from Austria’s Diamond Aircraft, will support the airline’s upcoming Flying Training Organisation (FTO) in Maharashtra. The FTO, being established at Belora Airport in Amravati, is…
India’s foreign exchange reserves fell by $3.23 billion to $654.85 billion for the week ending December 6, as reported by the Reserve Bank of India (RBI). This decline follows a previous increase of $1.51 billion during the prior week, which had ended a multi-week decrease in reserves. Foreign currency assets, a key component of the…
