Finance Minister Nirmala Sitharaman met with Tamil Nadu’s leading industrialists as the
Centre continues with its efforts to tackle the economic slowdown.
After meeting various businessmen representing sectors such as textiles, construction,
sugar and others, Sitharaman continued her interactions with the industrialists to hear
their issues and concerns relating to the slowdown across sectors.
The businessmen who met the Finance Minister included KM Mammen, Chairman and
Managing Director of MRF; N Srinivasan, Vice-Chairman and Managing Director of India
Cements; PR Venketrama Raja, Chairman of Ramco Cements; Gopal Mahadevan, Chief
Financial Officer of Ashok Leyland; Srivats Ram, Managing Director of Wheels India; TT
Srinivasaraghavan, Managing Director of Sundaram Finance; and RG Chandramogan,
Chairman and Managing Director of Hatsun Agro Product.
Arun Jain of Intellect Design Arena; Sunitha Reddy of Apollo Hospitals; Sanjay
Jayavarthanavelu of LMW; T Kannan of Thiagarajar Mills; and Padmaja Chunduru,
Indian Bank’s MD and CEO; were among those who attended the meeting.
With export growth refusing to pick up pace, Finance Minister Nirmala Sitharaman and
Commerce and Industry Minister Piyush Goyal will discuss challenges faced by the
country’s exporters including lack of adequate export credit, complexities of trade with
free trade partner countries, fall in domestic competitiveness and inadequate logistics in
a meeting of the Board of Trade on September 12, 2019.
Mining-cum-power generating company NLC India has said that its installed capacity in
the renewable sector has exceeded 1,000 MW.
The company commissioned 95-MW capacity of the 109-MW solar power project in
Ramanathapuram district in south Tamil Nadu. With this, the total renewable capacity
established by the company exceeded 1 GW.
The Ministry of New and Renewable Energy (MNRE) has postponed the 3rd Global
Renewable Energy Investors’ Meet & Expo (3rd RE-INVEST), citing “some unavoidable
reasons”. The meet was to be held in New Delhi between October 30 and November 2.
MNRE Secretary Anand Kumar said that “fresh dates are being worked out in
consultation with all stakeholders and (they) shall be informed shortly.”
JSW Steel recorded a 13% drop in crude steel production in August 2019. JSW Steel
informed that crude steel production for August 2019 was at 1.25 million tonnes
compared to 1.45 million tonnes in the same period last year.
JSW Steel said that the production was lower due to a planned shutdown at Vijaynagar
works and severe monsoon impact at Dolvi works.
Any agreement on the proposed Regional Comprehensive Economic
Partnership (RCEP) deal would be based on national interests, Commerce and Industry
Minister Piyush Goyal said.
“As long as India’s domestic industry and our national interests are protected, the faster it
(the RCEP) is done, the better for India,” Goyal said. “Any agreement that India finalises
will ensure that indiscriminate imports don’t come in, while major opportunities for
exports and job creation are reserved,” he added.