Will phase out diesel locomotive in five years: Piyush Goyal

Coal and Railways Minister Piyush Goyal on Tuesday said the Indian Railways will completely phase out diesel locomotives in the next five years and will switch to electric locomotives with the focus on increasing speed.

"We have planned to switch all trains to be electric-driven in the next five years," Goyal said, addressing the National Executive Council members of FICCI h

GST, digitisation, e-commerce will transform Indian logistic

The implementation of the GST, digitisation and growth in e-commerce are set to bring about a greater opportunities for DHL's operations in India, according to a top executive of the logistic giant. DHL chief executive officer (CEO) Ken Allen said that he sees a strong growth in cargo movements between India and China as the two countries continue to expand bilateral trade. "Given the

Expect Thums Up to be $1-bn brand in 2 yrs: Coca-Cola India

Beverages major Coca-Cola India expects its softdrink Thums Up to be a USD 1 billion brand in the next two years and is adding variants to the home-grown product, reported PTI. With the introduction of 'Thums Up Charged', the company today added the first ever variant to the 40-year-old brand. "We expect Thums Up to become a USD 1 billion brand in next two years.

The laun

IT department to challenge ITAT order favouring Tatas

Income Tax (IT) authorities are expected to challenge a recent order of the IT Appellate Tribunal (ITAT) here that dismissed a bid to tax the Tatas on capital gains of around Rs 1 lakh crore from the 2006 sale of Idea Cellular shares by a Mauritius subsidiary of the group.

Sources indicated that the ITAT order will be challenged in a case that is being watched keenly because of its hu

`India`s food processing sector may attract $33 bn by 2024`

India's food processing sector has the potential to attract USD 33 billion investment by 2024, according to a study released here today. The country's food and retail market is expected to touch USD 482 billion by 2020, up from USD 258 billion in 2015, with recent reforms making the sector more competitive and market- oriented, it said.

"There is a huge scope for large in

Government plans coal transportation in covered trucks, rail wagons

Scurrying for solutions to fight the toxic air pollution, the government has said it plans to transport coal in covered rail wagons and trucks across the country. Ferrying of coal in uncovered vehicles and rail wagons is said to be one of the key reasons behind high pollution levels along the transportation route from coal mine or importing sea port to user plants like power generation houses.<

India needs over $200 bn of investment in renewable infrastructure

India is on track to catalyse $200-300 billion of new investment in its renewable energy infrastructure in the next decade with global capital inflows playing an increasingly crucial role, a top financial analyst with a leading US-based institute foresees.

India's decarbonisation policy is in line with global trends which, since 2011, have been seeing investments in renewable ener

Shifting to electric vehicles can save $ 330 bn: Reports

A report by Ficci-Rocky Mountain Institute has said that the India's transition to a shared, electric and connected mobility system can save USD 330 billion (Rs 20 lakh crore) by 2030. The report further said that even under a shared mobility paradigm, over 46,000,000 vehicles (two, three, and four wheelers) could be sold by 2030.

"This annual market size would present an opp

Railways installs SSI system in Kharagpur: Reports

The Indian railways has said that it has installed Asia's largest solid state interlocking (SSI) system in Kharagpur, which will enable station masters to set 800 different routes for trains in a matter of minutes. As per reports, interlocking is a railway signal apparatus that prevents conflicting movements of trains through an arrangement of tracks such as junctions or crossings.

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Government set to achieve rural housing targets

Ministry of Rural Development has said that the government of India will achieve target of completing one crore new houses by March 31, 2019. “Prime Minister launched Pradhan Mantri Awas Yojana (Gramin) exactly one year ago on 20th November, 2016 from Agra. A target of completing one crore new houses after beneficiary registration, geo-tagging and account verification by 31st March, 2019

Railways to use Artificial Intelligence for preventing signal failures

Aiming to reduce the possibilities of signals failing, Indian Railways has undertaken remote condition monitoring of the system, a new approach for the national transporter, to predict failures through the effective use of Artificial Intelligence.

The Signalling system is vital for safe train operations and the railways completely depend on the health of its signalling assets alo

RBI to sell four dated government sec for Rs 15,000 cr on November 24

The Reserve Bank of India on Monday said it will auction four dated Government of India securities for Rs 15,000 crore on November 24, 2017. “The auction will be conducted using multiple price method,” the RBI said in the notification. Subject to the limit of Rs 15000 Cr, being total notified amount, GoI will have the option to retain additional subscription up to Rs 1000 Cr against

Government grants infrastructure status to logistics sector

The Logistics Sector has been granted Infrastructure status, the Ministry of Finance notified on Monday. The need for integrated Logistics sector development has been felt for quite some time in view of the fact that the logistics cost in India is very high compared to developed countries. The Ministry said that high logistics cost reduces the competitiveness of Indian goods both in domestic as

Indian logistics sector granted infrastructure status

The Indian logistics sector has been granted infrastructure status to help it access loans on easier terms as well as encourage manufacturing and job creation in the country, the government said on Monday.

"This will in turn be instrumental in improving country's GDP," a Finance Ministry release said here. 

"The logistics cost in India is very high co

India inks $100 mn loan pact with World Bank for solar project

India has signed a loan agreement with World Bank for USD 100 million for “Shared Infrastructure for Solar Parks Project”, according to a statement released by the Ministry of Finance. “A guarantee agreement for IBRD/CTF loan of USD 98 million and Grant Agreement for USD 2 million for the “Shared Infrastructure for Solar Parks Project” was signed with the World Ban

Need to double number of operational satellites: ISRO chief

 To meet the sky-rocketing domestic technology and knowledge-based demands, India's space agency needs to at least double the number of operational satellites in the coming days, Indian Space Research Organisation (ISRO) Chairman A.S. Kiran Kumar said here on Monday.

While currently India has 42 operational satellites for different purposes including communication, navigation

Use alternative dispute resolution mechanism: Prabhu to legal community

Emphasising on the growing importance of Alternative Dispute Resolution (ADR), Commerce Minister Suresh Prabhu has said that the legal community should make use of this mechanism for enhancing ease of doing business.

Prabhu conveyed the message through video conferencing at the Bar Leadership Summit held here recently.

The agenda of the Summit, organised by Indian National B

Mutual Funds log Rs 51,000-cr inflow in October

Investors have pumped over Rs 51,000 into various mutual fund schemes in October after pulling out more than Rs 16,000 crore in the preceding month, latest data with industry body Amfi showed. With the latest inflow, total infusion in MF schemes reached to over Rs 2.5 lakh crore in the first seven months (AprilOctober) of the current fiscal, Association of Mutual Funds in India (Amfi) noted. &q

Fitch gives stable outlook to realty mkt; unsold stock to drop

Rating agency Fitch has forecast a stable outlook for the Indian real estate and expects that unsold stock will fall from peak level and the sector will see consolidation with the implementation of a new regulatory law. The Real Estate (Regulation & Development) Act, which was passed by the Parliament last year, has been implemented from May this year.

"We expect unsold inven

Digital ad spend may touch Rs 13k cr mark by December 2018: Survey

Digital advertising spend in India is likely to grow to Rs 13,000 crore by December 2018, at a rate of 35 per cent, fuelled by growing demand for smartphones and falling data tariffs, predicts a survey. The digital ad spend, currently at Rs 9,800 crore, will see an exponential increase on widespread usage of 3G-4G services and the ongoing surge in Internet penetration, according to the survey c

Gadkari to meet London Mayor, to adopt London Transport System

Minister for Road, Transport, Highways and Shipping Nitin Gadkari on Monday said that he will meet the Mayor of London to boost the government's efforts to adopt the London Transport System, including electric double-decker buses.

Addressing a two-day conference on Smart Mobility here, Gadkari said the meeting is scheduled next month in Delhi and its outcome will be a huge transfo

Prabhu asks legal community to increase use of ADR

Commerce and Industry Minister Suresh Prabhu has called the legal community to increase the use of Alternative Dispute Resolution (ADR) mechanism for promoting ease of doing business, an official statement said today. His views came while addressing Bar Leadership Summit recently through a video message. The summit aimed at deliberating upon issues and concerns surrounding liberalisation of the

Railways not to ask for additional funds in next budget: Minister

Railway Minister Piyush Goyal has said that Indian Railways is not looking at more funds in the upcoming Union Budget for 2018-19 as it is focussed on monetising assets within. As per reports, the Budget that Finance Minister Arun Jaitley presents on February 1 next year will be the second after the railway and Union budgets were merged in a break with the colonial-era tradition.

Comm

RBI to sell government sec worth Rs 5100 cr on November 21

The Reserve Bank of India on Friday said it will auction 3/10 Years of security by way of auction for an aggregate amount of Rs 5100 crore. “The auction will be conducted on the Reserve Bank of India Core banking Solution (E-Kuber) system on November 21, 2017,” RBI said in a notification. Both competitive and non-competitive bids for the auction should be submitted in electronic for

Reforms led to decline in high risk highway projects: CRISIL

Global rating agency CRISIL has said that reforms by NHAI have resulted in a steep decline in the percentage of high risk highways projects from 53 percent two years back to 21 percent now. The reforms that have made this possible include quicker approvals, loan support for languishing projects, termination of stuck projects and their subsequent re-awarding, and affording a change in sponsor.