Connect with us
Friday,27-December-2024
Breaking News

Business

AAI writes to PMO on alarming situation for aluminium industry

Published

on

Aluminium Association of India (AAI) has written to the Prime Minister’s Office (PMO) on the alarming situation for the highly power intensive aluminium industry due to critical coal shortage.

To avoid closure of Aluminium industry and save lakhs of livelihoods and SMEs, AAI has requested PMO intervention to normalise the precarious situation with immediate resumption of coal and rakes supply for highly power intensive Aluminium industry CPPs, and earmarking at least 25-30 coal rakes per day for economically viable and sustainable industry operations.

AAI has sought immediate support for resumption of uninterrupted coal supplies and rakes for highly power intensive Aluminium industry Captive Power Plants (CPPs), which are facing alarmingly depleted coal stocks of 3-4 days as compared to the prescribed level of over 15 days.

With untiring efforts of Coal India and subsidiaries, the Power Sector situation has improved significantly with 9-10 days’ stocks from as low as 3-4 days in August-September, 2021. However, this has come at an enormous cost to the Non-Power Sector and the worst impacted are the CPPs of the Aluminium industry, which continues to struggle for getting uninterrupted coal supplies resulting a backlog of over 1,200 rakes.

Most of the available coal and rakes are being diverted away to the Power Sector as “priority coal supplies”, while the CPPs are starving and facing acute coal crunch. The coal supply to non-power sector has been significantly declined by 18 per cent for non-power sector over September-January period, AAI said in the letter to the PMO.

Although, the overall coal supply from CIL has started improving currently, still the dispatch from major CIL subsidiaries like MCL, SECL, etc., is not sufficient to cater the requirement of non-power sector / CPPs and needs to be ramped up to cater requirement of industry for continued sustainable operations.

The coal demand for these CPPs cannot be catered with imports, as even usage of imported coal is not feasible technically as well as economically, and logistics constraints are also huge challenge for transportation of such large quantity leading to congestion of rail network and ports infrastructure, AAI said.

The country’s booming manufacturing sector also stares at a possible derailment if the present situation is not addressed immediately and may lead to collapse of domestic industry and associated SMEs.

Further, the shortage of raw materials and Aluminium inputs to other key industries will lead increased imports and loss of export earnings.

With the revival of economy and post-pandemic industrial activity, the CPP-based industries are highly dependent on uninterrupted coal supplies, which is vital for the sustainable operations and cost-competitiveness of power intensive industries vis-a-vis global players. Any production curtailment by this sector will have cascading effect on consumption and downstream supply chain, thereby adversely impacting the nation’s GDP growth, AAI said.

Business

Lexus LF-ZC Concept Makes India Debut at Bharat Mobility Expo 2025

Published

on

Lexus is set to debut its futuristic LF-ZC Concept, a battery electric vehicle (BEV), at the Bharat Mobility Expo 2025 from January 17 to 22. The concept showcases advanced aerodynamics with its sharply raked C-pillar, coupe-like roofline, sleek headlamps, closed grille, and strategically positioned air vents.

Measuring 4,750mm in length, 1,880mm in width, and 1,390mm in height, with a 2,890mm wheelbase, the LF-ZC is designed for both performance and efficiency. Central to its innovation is a prismatic battery pack, which reduces weight and doubles the range compared to traditional EV batteries, underscoring Lexus’ commitment to cutting-edge technology.

The Lexus LF-ZC concept redefines electric mobility with its futuristic interior and advanced features. A standout innovation is the “Buttler,” an AI-powered voice assistant that learns driver preferences to personalize settings based on in-car data. The cabin includes a sleek digital instrument panel and two screens on either side of the steering wheel—one for drive modes, gear selection, and ADAS controls, and the other for managing entertainment, climate, and phone functions.

Additionally, a co-driver display enhances convenience by controlling infotainment and apps. Built on a shared platform with future Toyota and Lexus EVs, the LF-ZC is designed for efficiency, boasting a drag coefficient of just 0.2. High-spec variants will deliver an impressive 1,000 km range, while lower-spec models will offer reduced ranges. Set to enter production in 2026, this concept combines innovation and efficiency to shape the future of luxury electric vehicles.

The Bharat Mobility Expo 2025, set to take place from January 17 to 22 in New Delhi, promises to be a landmark event showcasing the future of sustainable and innovative transportation. Bringing together global and domestic players in the mobility sector, the expo will feature groundbreaking concepts, advanced technologies, and eco-friendly solutions designed to redefine the transportation landscape. With major brands like Lexus unveiling visionary models such as the LF-ZC concept, the event is set to highlight the shift towards electric and sustainable mobility. This platform will not only showcase cutting-edge advancements but also pave the way for discussions on the future of mobility in India and beyond.

Continue Reading

Business

Dr Singh’s reforms inspired countless young economists like me: Gita Gopinath

Published

on

New Delhi, Dec 27: Condolence messages from economists mourning the death of former Prime Minister Manmohan Singh poured in on Friday, with IMF Deputy Director Gita Gopinath stating that the economic reforms he ushered in as finance minister in 1991 had inspired countless young economists like her.

“Dr. Manmohan Singh’s 1991 budget unshackled India’s economy, significantly enhancing the economic prospects for hundreds of millions of Indians. His visionary reforms inspired countless young economists like me. Rest in peace, Dr. Manmohan Singh,” Gita Gopinath said on X.

Sanjeev Sanyal, member of the Economic Advisory Council to the Prime Minister (EAC-PM), said that his generation of Indians was the creation of the economic reforms introduced by Finance Minister Manmohan Singh and Prime Minister Rao in 1991.

“As I have said before, the two most significant years of the twentieth century for India were 1947 and 1991 — one brought political freedom and the other economic freedom. Manmohan Singh will always be remembered for announcing the Great Liberalisation…” Sanyal said.

Condolence messages also came in from industrialists for the former Prime Minister and former finance minister who had played a key role in opening up the Indian economy and breaking away from the erstwhile licence-permit raj that had shackled industry.

JSW Group chairman and MD, Sajjan Jindal, said; “Saddened by the passing of Dr. Manmohan Singh ji, former Prime Minister of India and the visionary leader behind India’s economic liberalisation. A statesman of humility and wisdom-India owes him a debt of gratitude.”

The US-India Business Council expressed deep condolences following the passing of Dr Singh, highlighting his significant contributions to strengthening the relationship between the United States and India.

USIBC praised Dr Singh for his pivotal role in in the 2008 Civil Nuclear Agreement between the two countries and economic reforms that shaped modern bilateral ties.

Continue Reading

Business

Kawasaki Introduces KLX 230 in India with Rs 3.30 Lakh Price Tag

Published

on

Kawasaki KLX 230 has been officially launched in India, priced at Rs 3.30 lakh (ex-showroom). Bookings for the dual-purpose motorcycle, which were opened after its unveiling in October, are now live. Customers who pre-booked the bike can expect deliveries to begin in January 2025. The KLX 230 has generated a lot of excitement, having been spotted several times undergoing tests prior to its India debut.

Kawasaki KLX 230, the brand’s first road-legal dual-sport motorcycle in India, combines rugged off-road capabilities with essential road-legal features. It boasts a slim, tall profile with long-travel suspension and wire-spoke wheels, designed to handle diverse terrains. For urban legality, the bike comes with an LED headlamp, turn indicators, rear-view mirrors, a saree guard, and dual-purpose tyres. Available in two vibrant colour options, Lime Green and Battle Grey, the KLX 230 is built for riders who seek both adventure and practicality.

Kawasaki KLX 230 is designed for versatile riding, featuring a high-tensile steel perimeter frame and robust suspension system with 240mm travel at the front and 250mm at the rear. The motorcycle is equipped with a 37mm telescopic fork in the front and a Uni-Trak-linked mono-shock at the rear, ensuring excellent handling across varied terrains. It comes with wire-spoke wheels sized 21 inches at the front and 18 inches at the rear, fitted with dual-purpose tyres.

The KLX 230 also boasts a dual-channel ABS system with disc brakes at both ends for superior stopping power. With a ground clearance of 265mm, a seat height of 880mm, and a kerb weight of 139kg, it strikes a balance between agility and stability. The 7.6-litre fuel tank ensures that riders can enjoy longer journeys without frequent refuelling.

Continue Reading

Trending