ModiWatch: PM Modi expressed his condolences on the death of Ratan Tata, praising him as a visionary business leader and compassionate individual.

India Mourns Giant of Industry, Ratan Tata

One of the biggest Indian industrialists and former chairman of the Tata Group, Ratan Naval Tata, 86, passed away at a Mumbai hospital on October 9, 2024.

Delhi BriefingDaanish Narayan

PM Modi departed for a two-day visit to Vientiane, Laos to participate in the 21 ASEAN-India Summit and 19 East Asia Summit on Thursday. 

PM Modi held separate meetings with Japan's newly appointed Prime Minister Shigeru Ishiba and New Zealand's Prime Minister Christopher Luxon during the ASEAN-India Summit. 

PM Modi strengthens ASEAN partnership

PM unveils 10-point plan at ASEAN-India Summit: PM Modi reaffirmed India’s commitment to ASEAN unity and highlighted the doubling of ASEAN-India trade to over $130 billion under the Act East Policy. PM Modi announced a 10-point plan, including $5 million for the ASEAN-India Year of Tourism 2025, initiatives for disaster and cyber resilience, green hydrogen workshops, and climate action.

India and ASEAN to strengthen strategic partnership: India and ASEAN agreed to fast-track the review of the ASEAN-India Trade in Goods Agreement, strengthen cooperation in digital and tourism sectors, and launch the ASEAN-India Fund for Digital Future. They also pledged to deepen collaboration on maritime security, artificial intelligence, and climate resilience.

Jharkhand shale gas potential

Shale gas potential found in Jharkhand's South Karanpura coalfield: A study published in the Journal of Asian Earth Sciences-X reveals significant shale gas generation potential in the eastern South Karanpura coalfield, Ramgarh district, Jharkhand. Microscopic palynomorphs and geochemical analysis show that the eastern Sirka coalfield has higher hydrocarbon generation potential than the Giddi coalfield in the north. 

India needs $200 billion for renewable energy by 2030: India will require investments of approximately $200 billion to develop renewable energy generating assets by 2030, according to a report by Nomura. The report also forecasts a compound annual growth rate of 7% in energy demand from FY24 to FY30, driven by the growth of data centres, increasing electric vehicle penetration, and advancements in green hydrogen technology. 

Cabinet greenlights road projects

Cabinet approves $530 million road project in Rajasthan and Punjab: The Union Cabinet has approved the construction of 2,280 km of roads in Rajasthan and Punjab's border areas, with a budget of ₹4,406 crore (approximately $530 million). The project will improve road and telecom connectivity, access to water, health, and education, and link these regions to the broader highway network. 

India invests $268 million in infrastructure along China border: Defence Minister Rajnath Singh will inaugurate 75 infrastructure projects worth ₹2,236 crore (approximately $268 million) on October 12 to boost military mobility and logistics support for deployed forces.

Read about India's Humsafar Policy, set to transform national highways with modern amenities for safety, sustainability, and local growth:

Government Launches ‘Humsafar Policy’ to Develop Highway Infrastructure

Union Minister of Road Transport & Highways, Nitin Gadkari, unveiled the Humsafar Policy, a major initiative aimed at improving the overall infrastructure along India’s national highways. By implementing the policy, the ministry aims to modernise the national highway network and bring it up to international standards. New Delhi plans to set

Delhi BriefingDaanish Narayan

US firms find opportunity in India

India offers US companies a path to de-risk from China: India's economic growth, projected at 7-8%, presents an opportunity for US companies to reduce their reliance on China in manufacturing, according to Mukesh Aghi, president and CEO of the U.S.-India Strategic and Partnership Forum (USISPF). 

Omar Abdullah leads National Conference

Omar Abdullah elected leader of National Conference legislature party: Omar Abdullah was unanimously chosen as the leader of the National Conference legislature party in a meeting held on Thursday. A meeting with pre-poll alliance partners is scheduled for Friday to discuss government formation.

Cabinet approves submarines and drones

CCS approves indigenous subs and Predator drones: The Cabinet Committee on Security (CCS), led by PM Modi, has approved the domestic construction of two nuclear-powered conventional strike submarines (SSNs) and the acquisition of 31 Predator missile-firing drones from US-based General Atomics.

RBI tightens anti-money laundering rules

RBI instructs banks to strengthen risk assessments for money laundering and terrorist financing: The Reserve Bank of India (RBI) has instructed banks, non-banking financial companies (NBFCs), and other regulated entities (REs) to leverage information from all important internal and external sources for their risk assessment processes. These entities are required to conduct a periodic “Money Laundering and Terrorist Financing Risk Assessment” to effectively identify and mitigate risks related to money laundering, terrorist financing, and proliferation financing across clients, countries, products, services, and delivery channels.

Textile sector eyes $350 billion growth

India’s textile sector set for $350 billion growth by 2030: India's textile sector is projected to reach nearly $350 billion by 2030, with ready-made garments experiencing an 11% year-on-year growth in August 2024. The Ministry of Textiles stated that over ₹90,000 crore (approximately $10.8 billion) is expected to flow into the PM Mega Integrated Textile Region and Apparel (PM MITRA) Park and Production Linked Incentive (PLI) schemes over the next three to five years. 

Rajya Sabha: Not in session.

Lok Sabha: Not in session.

Delhi Today: Hazy sun.