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New Indian Express
17 minutes ago
- New Indian Express
Piped natural gas: Beyond business as usual
As India transitions to a cleaner future, natural gas is emerging as a crucial bridge fuel. Recognising its strategic role, the government aims to increase the share of natural gas in the primary energy mix to 15 percent by 2030 from the 2022 level. As a part of this push, expansion of city gas distribution (CGD) networks has come into focus, witnessing the fastest growing gas demand and becoming the second-largest gas consuming sector after fertilisers. Yet the segment seems to be facing various hurdles to its growth, especially on the regulatory and policy fronts. The Indian government has awarded 307 geographical areas across 12 bid rounds, spread over around 748 districts by 2024. The CGD companies—public and private—have committed to connect 120 million piped natural gas (PNG) users by 2030. However, the actual rollout figures tell a different story. Currently, India has over 15 million PNG connections with nearly 1.6 million connections being added annually over the 2020-24 period. To hit the 2030 targets, the rollout of PNG connections would need to accelerate more than ten-fold, which translates to an addition of nearly 18 million connections annually over the next 6-8 years. Achieving this ambitious target requires a deviation from the 'business as usual' stance. The gap between the targets and the actual PNG connections today is more of a performance issue reflecting deeper structural and regulatory challenges.
Hans India
18 minutes ago
- Hans India
Indian companies can unlock $9.82 trillion in gross value added by 2035: Report
As the global economic landscape evolves rapidly, Indian businesses can unlock $9.82 trillion in gross value added (GVA) by 2035, according to a new report. As per the PwC India study, one of the most significant domains contributing to the GVA calculus will be the 'Make' domain, which includes manufacturing and industrial production, among other sectors. The report estimates that this domain alone will expand from $945 billion in 2023 to nearly $2.7 trillion in GVA by 2035. The PwC India's report, 'Navigating the value shift', said mega trends such as climate change, demographic shifts and technological disruptions are creating new avenues for value creation that transcend traditional industry boundaries. Amid this scenario, businesses are rapidly diversifying to capitalise on the evolving landscape. 'However, to navigate this transformation effectively, they require a fresh approach to identify where and how to diversify in order to seize value in motion. To support this need, PwC has developed a domain-based framework designed to guide strategic-decision making in this new era,' the report mentioned. Domains represent markets where businesses go beyond traditional sector boundaries to address fundamental human and industrial needs. 'India CEOs are already responding to these shifts. In PwC's 28th 'Annual Global CEO Survey: India perspective', 40 per cent of India CEOs stated that their companies have entered at least one new sector in the past five years, with half of them generating up to 20% of their revenue from these new ventures,' said Sanjeev Krishan, Chairperson, PwC in India. But to sustain momentum and unlock full value, businesses must move beyond ad hoc diversification. 'A domain-led lens that goes beyond the sector-led approach provides a powerful way to reimagine capabilities, collaborate across ecosystems, and build future-ready business and revenue models,' he mentioned. With India's economy projected to reach $30 trillion by 2047, domain-based innovation could play a pivotal role in driving the nation's inclusive, sustainable and tech-powered growth. 'Consider another domain, 'how we build.' As technology continues to reshape the way we construct and manage built environments more efficiently, traditional sectors such as real estate, construction and building management are being complemented by innovation spaces,' the report noted. These include smart, sustainable buildings; building tech and data solutions; and smart city infrastructure. Together, they represent a shift towards a more efficient, intelligent and integrated approach to the 'Build' domain. On the other hand, the telecommunications sector illustrates a range of cross-domain possibilities. The value pools emerging in these new growth domains represent exciting growth opportunities, said the report.
Time of India
23 minutes ago
- Time of India
UAE rolls out new golden visa: Lifetime residency at Rs 23 lakh, India among first to benefit
NEW DELHI: In a major shift from its traditional investment-based residency model, the United Arab Emirates has introduced a new nomination-based Golden Visa, offering eligible Indians lifetime residency in the country by paying a one-time fee of AED 1,00,000 (approximately Rs 23.3 lakh), without the need to invest in property or business. Until now, Indian nationals were eligible for the UAE's coveted Golden Visa primarily through high-value investments, including a minimum AED 2 million (Rs 4.66 crore) in property. But under this new system, applicants can be nominated and approved based on their professional background, societal contributions, or potential benefits to UAE's sectors such as culture, trade, science, startups, or finance. The pilot phase of the initiative has been launched for India and Bangladesh, with over 5,000 Indian applicants expected in the first three months, according to officials involved in the process. Rayad Group, the consultancy firm selected to pilot the nomination-based Golden Visa in India, is leading the process in partnership with VFS and One Vasco centres across India and Bangladesh. Applications can also be submitted through the group's online portal and call centre. "This is a golden opportunity for Indians," said Rayad Kamal Ayub, Managing Director of Rayad Group. He explained that the vetting process includes anti-money laundering checks, criminal background verification, and social media screening. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Gold Is Surging in 2025 — Smart Traders Are Already In IC Markets Learn More Undo by Taboola by Taboola The final nomination decision rests with UAE government authorities. Approved visa holders can bring family members, employ staff, and engage in business or professional activities. Unlike property-based visas, which lapse upon property sale, the nomination-based Golden Visa is permanent. This initiative reflects the UAE's growing economic and strategic ties with India following the Comprehensive Economic Partnership Agreement (CEPA) signed in 2022. The program is expected to expand to other CEPA partner countries, including China, in later phases. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
