Bhubaneswar, 04/01/2025: Odisha has taken another important step towards empowering women entrepreneurs and enhancing financial inclusion. A high-level meeting chaired by Hon’ble Deputy Chief Minister Smt. Pravati Parida brought together senior officials and bank representatives from across the state to explore ways of strengthening financial support for women-led businesses and Self-Help Groups (SHGs). The discussions centered on expanding access to loans for SHGs, extending targeted support to “Lakhpati Didis” for building sustainable livelihoods, and identifying measures to overcome challenges in order to improve future outcomes. Thanks to the consistent efforts of the Mission Shakti Department, Odisha has emerged as a…
Author: Industry Odisha
New Delhi, 03/01/2025: India’s banking sector has witnessed a remarkable turnaround in its financial health, with non-performing assets (NPAs) declining sharply to ₹4.8 lakh crore by March 2024. This is a significant improvement compared to ₹9.4 lakh crore in 2019, reflecting a consistent and steady reduction in stressed loans over the past five years. The trend signals stronger balance sheets, better lending practices, and improved recovery mechanisms in the banking industry. According to the Reserve Bank of India’s (RBI) report for 2023-24, the gross NPA ratio of all commercial banks dropped to 2.7% by March 2024, down from a concerning…
New Delhi, 03/01/2025: India’s manufacturing sector, which has been a key driver of the economy in 2024, saw growth ease to its lowest level in a year in December. According to the monthly HSBC India Manufacturing Purchasing Managers’ Index (PMI), released on Thursday, both new business orders and output expanded at a slower pace, though the sector continues to show resilience and solid momentum heading into 2025. The seasonally adjusted PMI for December stood at 56.4, compared to 56.5 in November. While this represents a marginal dip and the slowest pace of expansion in 12 months, the reading remains well…
Bhubaneswar, Odisha, 02/01/2025: Rajib Sekhar Sahoo, a highly regarded financial expert and chartered accountant, has been appointed as the new Chairman of the Indian Chamber of Commerce (ICC) Odisha State Council. His appointment is expected to bring strong leadership and strategic vision to the council at a time when Odisha is emerging as a key destination for industrial growth and investment. Sahoo, the principal partner at SRB & Associates, one of India’s leading chartered accountancy firms, has built a distinguished career with extensive experience in banking, finance, and corporate governance. Known for his sharp insights into business and industry, he…
New Delhi, India, 01/01/2025: The downstream aluminium sector stands to benefit significantly from recent anti-dumping duties imposed on anodized aluminium frames for solar panels and modules imported from China. The Aluminium Association of India (AAI) lauds this move by the Indian Government as it promises greater market access for domestic players. Anti-dumping duties on anodized aluminium frames will aid the domestic aluminium industry by reducing reliance on Chinese imports. Industry representatives are advocating for further measures in the 2025 Budget to bolster market access and establish a self-sufficient aluminium sector. This anticipated growth in investments, job creation, and MSME development…
Bhubaneswar, 01/01/2025: Facing a significant revenue shortfall, the state-run power trading utility, Grid Corporation of Odisha Limited (GRIDCO), has proposed a 54 paise per unit increase in the bulk supply tariff (BSP) for the 2025-26 financial year. The company has projected its aggregate revenue requirement (ARR) for the upcoming fiscal year at ₹14,820.37 crore and has requested the Odisha Electricity Regulatory Commission (OERC) to approve a new BSP of 381.84 paise per unit, up from the current 328.20 paise per unit. GRIDCO justifies the proposed hike by highlighting a projected revenue deficit of ₹1,728 crore at the existing tariff. The…
India, December 31, 2024: Bharat Petroleum Corporation Ltd (BPCL), one of India’s leading state-owned oil refiners, is increasingly sourcing crude oil from the Middle East as supplies of cheaper Russian oil, which the company has relied on in recent years, begin to decline. According to Vetsa Ramakrishna Gupta, BPCL’s Chief Financial Officer, the company is missing two to three shipments of Russian oil each month. To bridge this shortfall, BPCL has turned to suppliers in countries such as Oman. Currently, Russian crude accounts for approximately 35–37% of the feedstock processed at BPCL’s three refineries, which together have a combined capacity…
New Delhi, 31/12/2025: Green hydrogen, once heralded as a cornerstone solution for achieving net-zero emissions, has encountered significant obstacles in 2024. Several ambitious projects aimed at producing this clean fuel have been postponed or outright shelved due to unexpectedly high production costs, challenging earlier optimism about the sector’s rapid growth. Governments and major energy corporations around the world have long promoted green hydrogen as a versatile and environmentally friendly alternative for industries ranging from steel manufacturing and shipping to residential heating. Yet, despite the promise, the steep cost of production has deterred developers and investors alike, resulting in the abandonment…
Lanjigarh (Kalahandi, Odisha), December 31, 2024: Sanjay Majhi, a promising young archer from Vedanta Sports Program, has won a bronze medal in the Indian Round category at the prestigious NTPC (National Thermal Power Corporation) Senior National Archery Championship 2024. Supported by Vedanta Lanjigarh, India’s premier producer of smelter-grade alumina and a unit of Vedanta Aluminium, Sanjay Majhi’s achievement concludes Odisha’s 21-year quest for a senior category national medal in archery and making it a moment of pride for the state and Vedanta’s Sports Program. Speaking on this achievement, Mr. Pranab Kumar Bhattacharya, CEO of Vedanta Alumina Business, said, “Our sports…
India, December 30, 2024: India has made remarkable strides in the renewable energy sector over the past few years, and 2024 has continued this upward trajectory. Experts observe that the country is steadily moving toward its clean energy goals, driven by a coordinated effort between the government and the private sector. India’s total electricity capacity now stands at 452.69 gigawatts (GW), with a significant and growing share coming from renewable sources. This marks a clear shift away from conventional fossil fuels toward cleaner, more sustainable energy solutions. The country’s commitment to renewable energy gained international attention at the COP26 climate…