An Adani Group spokesperson said in a statement, “The allegations leveled by the US Department of Justice and the US Securities and Exchange Commission against the directors of Adani Green are baseless.”

The spokesperson said, “As the US Department of Justice itself has said, there are allegations in the indictment and the defendants are presumed innocent until proven guilty.”

The company spokesperson further said, “Adani Group has always been committed to maintaining the highest standards of governance, transparency and regulatory compliance in all areas of its operations.”

The spokesperson said, “We assure all our stakeholders, partners and employees that we are a law-abiding organisation that is fully compliant with all laws.”

Meanwhile, BJP leader Amit Malviya called the case a mere abuse of jurisdiction and said, “An Indian court can also on legitimate grounds accuse US companies of bribing US government officials to deny access to Indian markets. We should let the law do its work. Also, the corporates involved in the case should be allowed to defend themselves in the domestic politics of a foreign country. We should not interfere in the case.”

BJP leader Sambit Patra said that we have been seeing an issue related to a company in the media since morning.

Patra further said, “A case is going on against the company in the US. Allegations and counter-allegations are going on. We clearly believe that as far as the company and the case against it are concerned, the company will defend itself by issuing statements. The law will do its work.”

The post Adani Group rejects allegations by US Department of Justice and SEC appeared first on Janmat Samachar.

New Delh: Union Minister of Textiles Shri. Giriraj Singh inaugurated the Textile Pavilion under the Special Handloom & Handicraft Exhibition cum Sale at India International Trade Fair (IITF) in the august presence of Shri. Pabitra Margherita, Minister of State for Textiles Shri. Giriraj Singh and Shri. Pabitra Margherita visited various stalls in the pavilion and interacted with Handloom weavers and artisans. Speaking at the 43rd India International Trade Fair (IITF), HMOT emphasized the importance of carbon fibers in the textile industry and India is focusing on amplification of Technical Textiles. There are 12 verticals or sectors in Technical Textiles, HMOT added. PM has given ₹1500/- crores for R&D in this sector and our country giving more attention in the export of Technical Textiles and Technical textiles will become the economic backbone of India, said Shri Giriraj Singh. As India celebrates the 150th birth anniversary of Birsa Munda, theme of this event is inspired by ‘Janjatiya’ community, HMOT added.

Shri. Giriraj Singh emphasized that the Government is trying to improve the textile value chain for better income opportunities for the weavers and their families. He also said that India has the largest handloom community in the world focused around sustainability and energy efficiency. The world is moving towards usage of sustainable products and handloom industry produces zero-carbon footprint and does not consume any energy and Handloom industry is also a zero-water footprint sector.

Sh. Pabitra Margherita, Minister of State for Textiles, while visiting the exhibition and live display of handloom and handicrafts, has stressed upon strengthening handloom and handicrafts to boost production and to increase their earnings to engage communities. He also emphasized the importance of preserving India’s rich craft heritage while adapting to modern market needs. Smt. Rachna Shah, Secretary Textiles, Smt. Amrit Raj, Development Commissioner, Handloom and other senior officers of Ministry of Textiles attended the inaugural function.

Attractions of Special Handloom and Handicraft Exhibition at Bharat Mandapam as noted below

206 number of stalls (Total 27 states representing Handloom & Handicrafts) 100 Handloom (22 states representing)

100 Handicrafts (27 states representing)

06 for Theme Pavilion (Theme – TRIBAL TREASURES OF INDIAN TEXTILES)

08 Live Handloom, Art/ Crafts Demonstration [ Kani Shawl (J&K), Tangaliya/ Kutchi Shawl (Gujarat), Kullu/ Kinnauri Shawl (H.P.), Loin Loom (Manipur and Nagaland), Horn & Bone Craft (U.P.), Bhagalpuri Silk (Bihar), Bagh Print (Odisha)]

B2B interaction sessions of Retailers/ Brands etc with Handloom weavers.

Workshops on GI Tagged Handloom and Handicrafts by Dr Rajni, Talk show on Sustainability / Circularity/ Recycling/ Upcycling by Pratyush Kumar.

Hon’ble Prime Minister during Mann ki Baat (112th episode) appreciated that the work of handloom artisans is spread across every corner of the country and the way handloom products have made their place in the hearts of people is very successful, tremendous, and also urged to upload photos with local products on social media with the hashtag ‘#MyProductMyPride’.

The Handloom and Handicraft sector is a symbol of our country’s rich and varied cultural heritage. The handloom sector of India employs 35 lakh persons directly or indirectly which is next only to the agricultural sector in the country. The art of handloom weaving and handicrafts has traditional values attached to it and each region has exquisite varieties.

The uniqueness of products such as Banarasi, Jamdani, Baluchari, Madhubani, Kosa, Ikkat, Patola, Tussar Silk, Maheshwari, Moirang Phee, Baluchari, Phulkari, Laheriya, Khandua, Tangaliya,Madhubani Painting, Warley Painting, Art Metal Ware, Kathputli, Hand Block Printing, Chikankari, Tie & Dye, Wall Hanging, Terracotta, Imitation Jewellery etc name a few attracts customers across the globe with exclusives weaves, designs, and traditional motifs.

Government of India has launched the various schemes for Handloom and Handicrafts for branding of high-quality products with zero defects and zero effect on the environment to encourage and to give a distinct identity to the products, apart from highlighting the uniqueness of the products. It also serves a guarantee for the buyer that the product being purchased is genuinely handcrafted. All the exhibitors at the exhibition have been encouraged to display their exquisite products and thus aim to improve the market for their products and earnings of the handloom and handicrafts community.

“Special Handloom and Handicraft Exhibition cum Sale” is an initiative of the office of Development Commissioner for Handlooms and Handicrafts, Ministry of Textiles, Government of India through National Handloom Development Corporation (NHDC) Ltd. to provide direct access to the handloom weavers and artisans to market their products to consumers. The exhibition enables an interface between the weavers and consumers.

Handloom and Handicrafts products drawn from different regions of India are on display and sale at the exhibition. These includes Bhagalpuri Silk, Mithila Paintings, Tribal jewellery, ,Embroidered & Crocheted Goods, Lac Bangles, Jute craft, Madhubani, Hand block prints, Venkatgiri Sarees, Kani shawl, Banarasi Sarees and Stoles, Kosa, Chanderi, Bastar iron and tribal hand embroidery items, wood carving, Kutch Bandhani, Sozni crafts, Mangalgiri, Mekhla Chador, Moirang Phee, Ikat, Bomkai sarees, Bagh prints, Pottery and Clay objects, Leather (Bags & Accessories), Kauna ,Tribal Hand Embroidery, Applique, Art Metal Ware, Patta Chitra, Kotpad, Arani, Phulkari, Pochmapalli Silk, Jamdani, Gadwal, Cane & Bamboo, Dhaniakhali, Tangail Suits, Kantha work, oxidized jewellery etc.

The Textile Pavilion is at Hall No 05, ground floor, Bharat Mandapam and the exhibition will be open to the public from 10 am to 07.30 PM.India International Trade Fair (IITF) from 14th to 27th November 2024.

The post Technical textiles will become the economic backbone of India: Giriraj Singh appeared first on Janmat Samachar.

Coir Board Pavilion is having participation from 28 nos. of exhibitors from various parts of the country which depicts the skill and craftsmanship of coir workers in producing a variety of handmade products and handicrafts like toy, ornaments etc. The range displayed at the pavilion includes traditional coir products like handloom coir mat, mattings, Rubberized Mattress, handicraft coir products, carpets, coir pith, coir geo-textiles, etc.

The fair offers opportunity to entrepreneurs engaged in Coir sector to showcase their products to a very large pool of potential customers and create new avenues for growth and self-reliance.

Shri Jitan Ram Manjhi visited the stalls of 2 Research Institutes of Coir Board i.e. Central Coir Research Institute (CCRI) and Central Institute of Coir Technology (CICT) in the pavilion wherein the newly developed machines/technologies/products were exhibited and interacted with the exhibitors. Live demonstrations on the Application of Coir Geotextiles for soil erosion control, Coir pith composting using PITHPLUS, Cocolawn, Mobile Fibre Extraction Machine (MFEM) etc are exhibited in the CCRI stall.

Coir Board’s participation at IITF 2024 underscores its commitment to raising public awareness of the Coir sector and its role in achieving a developed nation by 2047.

The post Jitan Ram Manjhi inaugurates “COIR Board PAVILION” at the 43rd India International Trade Fair (IITF), 2024 appeared first on Janmat Samachar.

The award was handed over by Shri Hardeep S Puri, Minister of Petroleum and Natural Gas, to a team from MRPL led by MD Shri Mundkur Shyamprasad Kamath, along with Dr. V. Nandakumar. ED Projects Shri BHV Prasad, ED Refinery Shri B. Sudarshan, and officers from the MRPL Innovation Center.

This accolade recognizes MRPL’s pioneering work in “First-Principles and Artificial Intelligence Hybrid Applications for Process Efficiency and Reliability Improvement.” It marks the third consecutive year that MRPL has been recognized for its innovation in refining by the Government of India through the Centre for High Technology, Ministry of Petroleum and Natural Gas.

Speaking at the event, MRPL MD Shri Mundkur Shyamprasad Kamath said, “This is a proud
moment for Team MRPL to receive the Innovation Award under the special category for the third consecutive year at the Energy Technology Meet. This achievement reflects MRPL’s commitment to developing innovative solutions to real-world challenges. The credit goes to our entire team, especially our Innovation Hub, for fostering a culture where every challenge is met with a ‘why not solve it’ approach. This spirit of innovation and determination drives MRPL’s identity and propels our journey towards even greater accomplishments.”

The post MRPL Receives Special Award for Innovation at Energy Technology Meet appeared first on Janmat Samachar.

On social media platform X, Gautam Adani said that he once again congratulates the newly elected US President Donald Trump on his victory.

He further said that as the partnership between India and the US is deepening. Adani Group is committed to leverage its global expertise and invest $10 billion in US energy security and infrastructure projects.

In a post on X last week, Gautam Adani congratulated Trump for his landslide victory in the US presidential election, saying that it is fascinating to see that America’s democracy empowers its people and upholds the founding principles of the country.

The Adani Group chairman said if there is one person on earth who embodies unwavering perseverance, unflinching grit, relentless determination and the courage to stay true to his beliefs, it is Donald Trump. Congratulations on being elected the 47th President of the United States.

Several world leaders, including Prime Minister Narendra Modi, congratulated Trump after his victory in the US presidential election and lauded the American leader’s ‘historic’ achievement.

According to the India and US Strategic Clean Energy Partnership (SCEP) ministerial meeting convened by US Energy Secretary Jennifer Granholm and Union Petroleum and Natural Gas Minister Hardeep Singh Puri in Washington DC in September, energy trade is playing a vital role in supporting the national priorities of both countries.

The post Adani Group to invest $10 billion in energy security and infrastructure projects in US appeared first on Janmat Samachar.

The Ministry of Energy said that after signing the Joint Venture Agreement on 7 February 2024 during ‘India Energy Week-2024’ and obtaining the necessary statutory approvals from DIPAM and NITI Aayog, NGEL has applied to the Ministry of Corporate Affairs to form a joint venture in a 50:50 partnership with OGL.

Through this joint venture, opportunities in solar, wind, energy storage, green hydrogen, green ammonia, e-mobility, carbon credits and green credits will be leveraged.

The ministry further said that the joint venture will explore opportunities to acquire renewable energy assets. At the same time, it will also consider participation in upcoming offshore wind tenders in Tamil Nadu and Gujarat.

The strategic partnership between NGEL and OGL symbolizes a concrete effort towards advancing sustainable energy initiatives, which is closely linked with the country’s ambitious goals for a green future.

Minister of State for New and Renewable Energy Shripad Yesso Naik recently discussed with industry representatives on the Production-Linked Incentive (PLI) scheme and other incentives to promote Indian manufacturing in the renewable energy sector.

During this, Naik has assured the industry association of full support from the ministry. He also said that the government is committed to making India a low carbon economy.

Representatives from the renewable energy industry, including the All India Solar Industries Association, attended the meeting.

The post NTPC and ONGC to form joint venture for business in green energy sector appeared first on Janmat Samachar.

Naidu extended an open invitation to industrialists and investors a day after the state Cabinet approved six new policies.

“Respected industrialists and investors, Andhra Pradesh is now open with new and great policies. I invite you to invest in our state, where we have rolled out the red carpet to welcome you. A business-friendly state government, talented youth and strong infrastructure await you in Andhra Pradesh,” he wrote.

He said, “The new policy framework has been prepared on the basis of extensive consultations with industry stalwarts. The policy framework aims to promote businesses and entrepreneurial spirit in our state. We are creating the best business ecosystem in the country. I want to personally assure you that the Andhra Pradesh government will take every step to help you set up base in Andhra Pradesh and grow.”

“There has never been a better time to invest in India, there has never been a better time to invest in Andhra Pradesh. Join us in this exciting growth journey, where we can expand both the horizons of your business and the potential of our state. Look forward to meeting you in Andhra Pradesh,” he said.

The Cabinet meeting, chaired by the Chief Minister on Wednesday, approved policies for industrial development, MSME and entrepreneur development policy, food processing, electronics, private parks and integrated clean energy.

The industrial policy targets to attract Rs 30 lakh crore in the manufacturing sector over the next five years. It aims to channelise investments worth Rs 5 lakh crore during the policy period. The policy targets to attract foreign direct investment of Rs 83,000 crore in manufacturing sectors and create five lakh jobs. The government will develop over 175 sector and cluster-centric industrial parks. The policy also targets doubling exports to Rs 33,200 crore.

“These policies are in line with our vision to attract investments, create jobs, promote entrepreneurship and be a leader in clean energy. Our main focus is job creation and empowering the youth of Andhra Pradesh to think globally and act globally with initiatives like One Family, One Entrepreneur,” Naidu had said after the Cabinet meeting.

The post This is the best time to invest in Andhra Pradesh: Chandrababu Naidu appeared first on Janmat Samachar.

India has strong export potential in sectors like textiles, pharma, chemicals, automobiles and components and machinery.

The US offers the maximum untapped export opportunity of $ 46 billion in sectors like gems and jewellery, pharmaceuticals, automobiles and components and machinery.

According to the World Trade Center Mumbai and the All India Association of Industries (AIAI), the organizers of this event, the participating country has the highest export potential in diamonds, agro-chemicals, iron and steel, jewellery and motor vehicles.

Union Petroleum and Natural Gas Minister Hardeep Singh Puri is expected to be the chief guest at the event in a dedicated session on ‘Green and Renewable Energy’.

Ambassadors and trade missions of participating countries and regions will showcase trade, investment, tourism, education and technology exchange potential in their countries.

The event will feature developed and developing countries from the Americas, Europe, Africa and Asia. These countries collectively account for 28 per cent of India’s total merchandise trade, 35 per cent of merchandise exports and 24 per cent of imports.

India recorded a trade deficit of over $10 billion with these countries in FY24. They are major suppliers of ores and minerals, semiconductors, other electronic spare parts, agro-commodities such as coal and edible oil, underlining their importance in India’s energy, mineral and food security.

India has signed free trade agreements with several countries such as Malaysia, Sri Lanka, South Korea and Mauritius. Other participating countries like Indonesia, Vietnam and Thailand are part of the 10-member ASEAN nations with which India has a trade agreement.

The post More than 30 countries will participate in the fifth edition of ‘World Trade Expo’, opportunities for exports worth $ 117 billion will open appeared first on Janmat Samachar.

Union Minister Dr Jitendra Singh said this while presenting the India-US Endowment Awards to 17 winning teams.

At the award ceremony, the winning teams were directed to work together mainly to develop AI-enabled technology and quantum technologies.

Speaking at the US-India Science and Technology Endowment Fund (USISTEF) Awards ceremony here, Dr Singh said that new implementation agreements have been signed between science agencies to expand international cooperation in various fields to build a strong innovation ecosystem as part of the US-India Initiative on Critical and Emerging Technologies (ICET). US Ambassador to India Eric Garcetti was also present during this.

The minister said, “The DST-National Science Foundation joint appeal in the areas of Computer and Information Science and Engineering, Cyber-Physical Systems and Secure and Trusted Cyberspace resulted in the approval of 11 high-level proposals.”

India and the US are at a critical juncture in the development of future technologies such as AI, advanced manufacturing, blockchain, green energy and quantum computing and are gearing up for one of the biggest technology transformations of the century.

Dr Singh said the government led by Prime Minister Narendra Modi is “creating an enabling innovation ecosystem with recent reforms such as design-linked incentives for semiconductors, PLI schemes for automobiles, drone policy and removal of barriers through initiatives like faceless assessment.”

There were 350 startups in 2014, which has grown to over 1,40,000 startups.

The minister said India has over 110 unicorns, of which 23 emerged last year alone, indicating India’s rapid ascension up the STI (science, technology and innovation) ladder.

The post India and the US are working together to expand strategic technology partnerships: Dr Jitendra Singh appeared first on Janmat Samachar.

The market cap of Reliance Industries has decreased by Rs 21,351 crore to Rs 18,55,366 crore. The market cap of ITC has decreased by Rs 18,761 crore to Rs 6,10,933 crore. The market cap of Hindustan Unilever Limited (HUL) has decreased by Rs 16,047 crore to Rs 6,53,315 crore.

Apart from this, the market cap of Life Insurance Corporation (LIC) has decreased by Rs 13,946 crore to Rs 6,00,179 crore. At the same time, the market valuation of ICICI Bank has decreased by Rs 11,363 crore and it has become Rs 8,61,696 crore. Apart from this, the market cap of the country’s largest private sector bank HDFC Bank has decreased by Rs 4,998 crore to Rs 12,59,269 crore.

On the other hand, the market valuation of Bharti Airtel, Infosys and State Bank of India (SBI) has seen an increase. The market capitalization of Bharti Airtel has increased by Rs 26,330 crore to Rs 9,60,435 crore. The market capitalisation of Infosys rose by Rs 6,913 crore to Rs 8,03,440 crore and that of SBI rose by Rs 3,034 crore to Rs 7,13,968 crore.

Last week, the Nifty fell 50 points or 0.20 per cent to 24,964 and the Sensex fell 307 points or 0.38 per cent to 81,381. This was the second consecutive week when the markets closed in the red.

The post Market cap of these companies including TCS, HUL fell by more than Rs 1 lakh crore, Airtel and Infosys benefited appeared first on Janmat Samachar.