The Government of India has provided a financial package of approximately ₹1,650 crore to support Rashtriya Ispat Nigam Ltd. (RINL) amid ongoing financial and operational challenges. The state-owned steel producer, which operates a 7.5 million-tonne plant in Visakhapatnam, Andhra Pradesh, has been facing severe cash flow issues, leading to temporary production cuts and the shutdown […]
The electric vehicle (EV) industry is set to invest an estimated $20 billion across South and Southeast Asia (SSEA) as automakers expand their presence in response to anticipated demand growth. A recent report by S&P Global Ratings projects annual EV sales in the region to increase by more than 20% from 2024 to 2026, driven […]
India’s manufacturing sector experienced growth in 2022-23, according to the Annual Survey of Industries released by the Ministry of Statistics and Programme Implementation. The report highlights a 7.3% rise in Gross Value Added (GVA) in the industrial sector compared to the previous year, driven by key industries including basic metals, refined petroleum, food products, chemicals, […]