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PM Modi inaugurates CG Semi chip plant in Sanand, Gujarat
Prime Minister Narendra Modi inaugurated India's third semiconductor manufacturing plant in Sanand, Gujarat, a significant stride in building a domestic chip ecosystem. This facility aims to bolster manufacturing, strengthen electronics supply chains, and reduce import reliance. Union Minister Ashwini Vaishnaw highlighted the rapid development of the sector, underscoring its national priority. Meanwhile, the Mumbai-Ahmedabad High-Speed Rail corridor is nearing completion, with an operational stretch anticipated in 2027.
Switching to electric power has saved Railways Rs 6,000 crore: Ashwini Vaishnaw in Lok Sabha
Indian Railways is making waves in the transportation sector, achieving Rs 6,000 crore in savings by embracing electric trains. This innovative shift has positioned them as the world’s second-largest freight mover, with 35,000 km of track and 27,000 km fully electrified. While staff wages take the lion’s share of expenditures, energy costs are a close second.
Oil may hit $180, market can fall 10% if Strait of Hormuz stays shut for 10 more days: Demeter
Ashwini Agarwal, Founder & Partner at Demeter Advisors, told CNBC-TV18 that if the Strait of Hormuz remains shut for another 10 days, crude oil prices could surge to around $180 per barrel and global markets, including India, may fall about 10%. He said this is a low-probability scenario but investors should remain mentally prepared for such risks as tensions in West Asia continue to impact global energy supply and financial markets. Once tensions ease, financial stocks could lead the market recovery as they have been among the hardest hit but are less directly affected by the Middle East conflict.