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NEW DELHI, April 9 (Reuters) - India's steel mills aim to cut carbon emissions by about a quarter over the next decade and reduce reliance on coal, while the world's second-biggest producer of the alloy plans to more than double output, according to a document seen by Reuters. Under the proposed "National Steel Policy 2025", India aims to cut emissions from steel mills to 2 metric tons of carbon dioxide per ton of finished steel by 2035-36, according to a draft cabinet note dated March 10, revi ...Read More >
SINGAPORE, April 8 (Reuters) - India has withdrawn its offer to host the United Nations annual climate Conference Of the Parties (COP33) in 2028, two government officials familiar with the matter told Reuters. India communicated its decision to not host the conference this month, the officials said, but it was not immediately clear why the government had pulled out. The officials declined to be named as they are not authorised to speak to the media. Prime Minister Narendra Modi had propose ...Read More >
MUMBAI, April 7 (Reuters) - India is expected to receive below-normal monsoon rainfall in 2026, private weather forecaster Skymet said on Tuesday, as the El Nino weather pattern is set to reduce precipitation in the second half of the June-September rainy season. Monsoon rainfall is expected to be 94% of the long-period average of 868.6 mm for the four-month period, Skymet said. The state-run India Meteorological Department (IMD) is likely to issue its first forecast for the monsoon se ...Read More >
BENGALURU, April 6 (Reuters) - India's services sector grew at its weakest pace in 14 months in March as the Middle East war dampened domestic demand, a survey showed on Monday, though overseas orders hit a near record while input cost pressures were at their most intense since mid-2022. Here are the key details: * The final HSBC India Services Purchasing Managers' Index (PMI), compiled by S&P Global, fell to 57.5 in March from February's 58.1, but was higher than a preliminary estimate of 5 ...Read More >
April 4 (Reuters) - Indian refiners have purchased Iranian oil amid the Middle East conflict that has disrupted supplies through the Strait of Hormuz, the oil ministry said on Saturday. The world's third-biggest oil importer and consumer, India has not received a cargo from Tehran since May 2019, following U.S. pressure not to buy Iranian crude, but supply disruptions from the U.S.-Israel war have hit the South Asian nation hard. "Amid Middle East supply disruptions, Indian refiners have sec ...Read More >
NEW DELHI, March 31 (Reuters) - A day before Israel and the United States attacked Iran on February 28, the Indian‑flagged LPG tanker Pine Gas loaded cargo at the United Arab Emirates' Ruwais port, hoping to reach home within a week. However, it would be nearly three weeks before the vessel safely transited the Strait of Hormuz, after Iran began selectively allowing ships through the narrow waterway. Pine Gas Chief Officer Sohan Lal said the ship's 27 Indian crew had seen missiles and drones f ...Read More >
SYDNEY (Reuters) -Australia and India will strengthen maritime security and defence industrial cooperation, signing an agreement on mutual submarine rescue during the first annual defence ministers dialogue in Canberra, a joint statement said. Indian Defence Minister Shri Rajnath Singh made the first visit by an Indian defence minister to Australia in more than a decade on Thursday. A statement released by Australia after his meeting with Defence Minister Richard Marles said they agreed to pur ...Read More >
NEW DELHI (Reuters) -India rejected as "incorrect and baseless" remarks by NATO's chief that suggested Indian Prime Minister Narendra Modi was contacting Russian President Vladimir Putin over the impact of punitive U.S. tariffs on its purchases of Russian oil. India's foreign ministry called the remarks speculative and said on Friday there was no such conversation. NATO Secretary General Mark Rutte, in an interview with CNN, had spoken about U.S. President Donald Trump's doubling of tariffs on ...Read More >
(Reuters) -Indian hospital chain Apollo Hospitals said on Monday it will spin off and separately list its digital health and pharmacy unit within 18 to 21 months, as part of a reorganisation. Apollo shareholders will receive 195.2 shares of the spun-off entity for every 100 shares they currently own. The hospital operator will retain a 15% stake in the entity, which it is yet to be named, and will also have its nominee on the board of the new company. Apollo Hospitals expects the new entity, ...Read More >
MUMBAI (Reuters) -India's current account posted a surplus for the first time in four quarters in the January-March period, helped by higher services exports, the central bank said on Friday. The current account surplus stood at $13.5 billion, or 1.3% of GDP in the fourth quarter of the fiscal year 2024-2025 versus the polled estimate of $8.5 billion, or 0.9% of GDP. The surplus compares with a deficit of $11.3 billion or 1.1% of GDP in the preceding quarter, the Reserve Bank of India said in ...Read More >
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